Just a few years ago, there were banks offering over 5.00% APY as an FDIC, guaranteed rate of return. Those days are long gone and now savings account holders are lucky to get 1.50% APY on their money. There are a few banks that have held out as long as possible and are still offering above 2.00% APY on their savings accounts.
Here is a list of banks offering online savings accounts with at least 2.00% APY as of August 2009:
1st Constitution Direct – This bank is offering 2.25% APY on balances of $10,000 or more. Account holders with less than $10,000 in their accounts will earn an interest rate of 1.60% APY. This bank currently has a 4 star rating at Bank Rate.com
CNB Bank Direct – This bank is offering a 2.0% APY interest rate on all account balances for their high-yield savings account. CNB Bank currently has a rating of 4 stars on Bankrate.com
Discover Bank – This bank is offering 2.0% APY and above. This bank has no minimum balance or fees but does require a $500 deposit to open an account. This bank currently has a rating of 4 stars on Bank Rate.com
