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Online Savings & Money Market Account Rates 2020

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Capital One Offers $50 To Open High Yield Online Savings Account

Rate information contained on this page may have changed. Please find latest savings rates.

Capital One is offering a $50 bonus for opening a Capital One Savings account and funding it with $25,000 within 30 days of opening it.

Capital One is offering a clandestine $50 bonus to open their high yielding savings account and fund it with $25,000 within 30 days of account opening.  The offer only seems to have been marketed in san Francisco although nothing in the language would prevent anyone from another location from opening it.  Banks often test regional offers and while they are open nationally, they simply don't advertise them.  The Internet though means that once words gets out, an offer is national.  

The Capital One Savings Account is one of the best savings rates available.  If you open the account with $10,000, the account yields a 3.55% APY.  If you are a Costco member, you can get a 3.75% APY,

To get the $50 offer you must:

  • Open the account by October 31, 2008 and deposit $25,000 within 30 days from account opening.  It does not say you have to keep the money in the account, although to receive the highest possible APY you w/ill need at least $10,000. 
  • Fund the account with money not already in a Capital One account.
  • Use the offer promo code BONUS50 at the time of account opening.

Capital One received 3 1/2 starts out of 5 from Bauer Financial for its safety and soundness.  That's a decent score and you can see how this compares to other high yielding banks on the BestCashCow rate table.

Thanks to Banking Guy at Bankdeals for finding this offer.


Washington Mutual (WaMu) Still Offering Savings Account at 4% APY and 1 Year CD at 5% APY after JP Morgan Chase Takeover

Rate information contained on this page may have changed. Please find latest savings rates.

I just called WaMu and asked if they were still offering high rates after being sold to JP Morgan Chase. The news was good.

I just called WaMu and asked if they were still offering high rates after being sold to JP Morgan.  The woman on the phone told me the 1 year CD at 5% APY and the 4% APY savings account were still active.  This is a great opportunity.  You can technically get very competitive rates with the security of JP Morgan Chase.

I don't know how long these rates will last.  Judging by what happened to Countrywide rates after the Bank of America takeover, I'd judge not that long.  But for now, they are a great opportunity for yield and safety.


Washington Mutual (WaMu) Raises Online Savings Rate to 4% APY

Rate information contained on this page may have changed. Please find latest savings rates.

Washington Mutual (WaMu) has raised the rate on its online savings account from 3.75% APY to 4%. This is the top rate in the country according to the BestCashCow rate table.

Update: September 26, 2008

Last night we learned that Washington Mutual (WaMu) was seized by regulators and then its deposit and loan business sold to JP Morgan Chase for $1.9 billion.  Long term, the WaMu brand will disappear and all deposits in WaMu will be converted to Chase.  Thus, if you are a WaMu account holder you will become a Chase customer.  From a customer standpoint, this will look like a bank acquisition. 

WaMu is open for business and is still offering some of the best rates in the country.  A call to the bank verified that it is still offering its 4% APY savings account and a 5% APY 1-year CD.  The 4% savings account is the top savings account rate in the country while the 1-year CD rate is also the best rate according to the BestCashCow rate table.  As an added bonus, there is no minimum balance and you now get the security of Chase backing up your deposit.

To receive the high savings rate, you must open a checking account with the savings account.  The checking account also doesn't have a minimum balance and is free.  Both accounts can be opened together online.  WaMu has received high marks for the ease of its account opening process. 

>> Learn more about WaMu's 4% Savings Account here

To see how this rate compares to other high yield savings accounts, please visit the BestCashCow.com savings and money market rate tables.