RateAPY

FNBO Direct Savings Account at 1.25% APY

Posted by: RateAPY Bank Rates News
May 6th, 2010

If the recession taught Americans anything, it was that the concept of keeping some cash available in an emergency savings account is a good one. Financial experts recommend building up funds of at least three to six months of expenses as a protection against job loss or a medical crisis that could impact your ability to earn money.

Internet banking allows consumers to search for the best bank deals online and transfer their money easily after comparing savings accounts rates to find the highest interest rate with the best terms. Making sure your money is FDIC-insured also provides a sense of security.

The FNBO Direct Savings Account was named as the “Best Place to Park Your Emergency Cash” by Money Magazine. The FNBO Direct Savings Account requires no minimum balance and can be opened with just $1. The current interest rate for this account is 1.24% or 1.256% APY.

When comparing savings account terms online, be sure to check for monthly fees which could cut into your earnings.