NYT: Going online for savings

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.

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