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NYT: Going online for savings May 5, 2006

Posted by exertia in Internet, Investing, Saving.
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NYT has an interesting article on online savings banks, covering most of the popular ones like HSBC, ING Direct, Emigrant and Citibank. These banks have started offering upto 4.8% yields in some cases, which at zero-risk (since these are FDIC-insured) makes this a better investment option as compared to several mutual funds / stocks.

My personal favorite is HSBC with its clean interface, trustworthiness, ATM withdrawals and competitive interest rates. They had an offer where you got a $25 bonus by entering the promo code start while filling in your application [thanks Spoofee, for the tip] although I am not sure whether its working now.