Highest Yield Savings Accounts for October 2011

Looking for a high yield savings account?

There are so many banks offering high yield savings accounts, but if you are looking for the highest yield savings account, you may wonder which among these banks is offering the highest yield savings accounts.

It is important for us to understand that we need to look into the stability of the bank too other than the coverage of FDIC insurance in our deposits. In this way, we will have peace of mind.

Examples of banks offering high yield savings accounts for October 2011 are:

1. American Express, which currently offers a high yield savings account at 1.00%APY;
2. CNB Bank Direct High Yield Savings Account at 1.05%APY;
3. First Trade Union Bank High and Mighty Savings at 0.90%APY;
4. MetLife High Yield Savings Account at 0.25%APY;
5. TD Bank high yield savings at 0.05%APY; and
6. Alliant High Yield Savings at 1.15%APY.

But, banks offering the highest yield savings accounts are those that pay you while you do everyday banking with them.

UFB Direct is a bank that pays you airline mileage for your everyday banking. UFB Direct offers an airline reward savings, considered to be the highest yield savings account, currently at 1.30%APY. With only $100 minimum amount to open and no monthly fee, UFB Direct beats other banks which charges ridiculous fees.

Please be aware that UFB Direct, a division of Bofl Federal Bank, is an internet only bank. In other words, if you want to avail of this type of savings account with the highest yield, you must be comfortable banking online.

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Tags: highest yield savings account, highest yield savings accounts, UFB Direct