WaMu, FNBO and Other Savings Rates Roundup

WaMu’s (now JPMorgan Chase’s) online savings account is now at a measly 1.50% which I predicted after JPMorgan took them over. Let’s just hope the customer service doesn’t drop like their interest rates! On a positive note, their online-only 5-year certificate of deposit (CD) is earning 4%. Not bad, but I don’t want to lock up my money for that long.

FNBO Direct (read my full review) recently dropped their rate to 2.80% from 3.25%. They also earned Kiplinger’s 2008 best online savings account award (even though their rate was higher then). I still like them, but I wouldn’t open an account if you’re looking for a high interest rate. There are others with higher interests rates out there.

A quick check on Bankrate shows DollarSavings Direct still leads the pack at 4% (read my full review here). HSBC Direct is holding steady at 3% (mini review here). SmartyPig is still at a high 3.90% although it’s a little different from a traditional savings account. I still haven’t got a proper review, but should have it soon for your reading pleasure!