Clear Sky Accounts is offering a competitive APY on their savings account

By Elaine Griffin

Clear Sky Accounts offers an online savings account which features an above-average 1.15 percent annual percentage yield (APY), which is in effect as of June 13, 2011. This APY is valid on balances up to $250,000. This account is free and includes free online banking and mobile banking, and electronic statements. There is a $1 minimum deposit required to open this account.

Chesapeake Bank provides banking services for Clear Sky Accounts Chesapeake Bank was established in 1900 and has been a member of the FDIC since January 1934. They are headquartered in Virginia. Chesapeake Bank offers online accounts that are available nationwide through Clear Sky Accounts.

Type of account: Savings account

Bank requirements:

• This account is open to both current and new Clear Sky Accounts customers
• This account must be opened account online
• Open the account with the required minimum $1 deposit
• For full details, contact Clear Sky Accounts

Account features:

• This account is free
• 1.15 percent APY on balances up to $250,000
• Free online banking and mobile banking, and free electronic statements

By Elaine Griffin

Doral Bank Direct is currently offering a very competitive 1.40 percent annual percentage yield (APY) on their 12-month personal internet CDs. This well above-average rate is effective as of March 23, 2011. In addition to the great rate, Doral allows accrued interest to be withdrawn without penalty. There is a minimum $1,000 deposit required to open this CD. Penalties are imposed for early withdrawal of initial deposit.

Doral Bank, FSB, was established in and has been a member of the FDIC since October 1999. They are headquartered in New York. Doral Bank Direct is the online division of Doral Bank.

Type of account: CD (Certificate of Deposit)

Bank requirements:

• Open account online
• Account must be opened with at least $1,000
• Penalties are imposed for early withdrawal
• For additional details, contact Doral Bank Direct

Account features:

• 12-month personal CDs with above-average 1.40 percent APY
• Accrued interest may be withdrawn without penalty

By Elaine Griffin

The Urban Partnership Bank offers an online savings account with a competitive, tiered annual percentage yield (APY). As of June 14, 2011, customers earn an APY of 1.00 percent on balances up to $99,999. Balances of $100,000 and over earn a1.05 percent APY. This account is free and has no minimum monthly balance requirements. There is a $1 deposit required to open the account, which also includes free online banking and direct deposit, free transfers, and electronic statements.

Urban Partnership Bank was established in and has been a member of the FDIC since August 2010. Urban Partnership offers personal and business accounts in addition to accounts catering to the non-profit sector.

Type of account: Savings Account

Bank requirements:

• Account must be opened online
• Minimum deposit required to open the account is $1
• For more details contact Urban Partnership Bank

Account benefits:

• This account is free
• No minimum balance requirements
• Balances up to $99,999 earn a 1.00 percent APYBalances over $100,000 earn a 1.05 percent APY
• Free online banking and direct deposit, free transfers, free electronic statements

By Elaine Griffin

The eChecking account from Avidia Bank is a rewards checking account that offers a 2.27 percent annual percentage yield (APY). This rate is in effect as of October 15, 2010, and on balances up to $25,000. This is a free account with no monthly balance requirements. It also includes ATM refunds and access to a rewards program.

There are four monthly qualifications required to earn this rate. Every month customers must: receive electronic statements, sign into internet banking, make at least ten debit card transactions, and receive a direct deposit or use online bill pay.

Avidia Bank was established in 1869 and has been a member of the FDIC since November 1985. They are headquartered in Massachusetts. The eChecking account, a rewards checking account, is available online nationwide.

Type of account: Checking Account

Bank requirements:

• Account must be opened online
• Customers must meet monthly requirements in order to earn rate
• Rate is effective on balances up to $25,000
• For full details, contact Avidia Bank

Account benefits:

• Generous annual percentage yield of 2.27 percent
• This is a free account with no minimum balance requirement
• ATM refunds
• Access to a rewards program

By Elaine Griffin

Tiered interest rates on the online money market account are available at Incredible Bank. Annual percentage yields are valid as of May 1, 2011 and are subject to change. They are as follows: 1.15 percent APY on balances between $2,500 and $99,999, 1.25 percent APY on balances between $100,000 and $249,999, and 0.80 percent APY on balances over $250,000. This account must be opened with a minimum of $2,500, a minimum balance that must be maintained in order to earn a rate and avoid fees.

Incredible Bank accounts are guaranteed by River Valley Bank. River Valley Bank was established in, and has been a member of the FDIC since December 1967. They are headquartered in Wisconsin. Incredible Bank, is a division of River Valley Bank, providing online accounts nationwide.

Type of account: Money Market

Bank requirements:

• This account must be opened online
• This account must be opened with a minimum of $2,500
• Maintain average daily balance of at least $2,500 in order to earn rate and avoid fees
• For more information, contact Incredible Bank

Account benefits:

• Competitive, tiered annual percentage yields

By Elaine Griffin

The free online savings account from SFGI Direct offers a competitive annual percentage yield (APY) of 1.21 percent. This APY is valid as of April 1, 2011. Although there is a $500 minimum deposit required to open this account, there is only a one-dollar minimum to earn interest. This account may be accessed online at any time.

The online savings account from SFGI Direct is a product of Summit Community Bank, Inc. Summit Community Bank was established and has been a member of the FDIC since December 1995. They are headquartered in West Virginia.

Type of account: Savings Account

Bank requirements:

• This account must be opened online
• Open account with a minimum of $500
• For full details please contact SFGI Direct

Account benefits:

• Free online savings account with a 1.21 percent annual percentage yield
• Account may be accessed online at any time