Highest Rates on Bank Savings Accounts Unchanged After Fed Rate Cut

The Federal Reserve lowered short-term interest rates a half-point this week in a move that typically precipitates a corresponding lowering by banks of their own savings rates. But, as of today the list of the nation’s best savings rates is largely unchanged with a few banks even raising rates late in the week. Banks offering savings accounts that can be opened online include:

AmTrust Direct, 4.00% APY, $500 to open, $1 balance to earn highest APY

GCF Bank, 4.00% APY, $100 to open, $100 balance to earn highest APY

Dollar Savings Direct, 4.00% APY, $1,000 to open, $1 balance to earn highest APY

CNBBankDirect.com, 4.00% APY, $1 to open, $1 balance to earn highest APY

1st Constitution Direct, 4.00% APY, $100 to open, $10,000 balance to earn highest APY

SmartyPig, 3.90% APY, $25 to open, $25 balance to earn highest APY

E-Loan Bank, 3.85% APY, $5,000 to open, $100,000 balance to earn highest APY

UFB Direct, 3.80% APY, $500 to open, $500 balance to earn highest APY

Provident Direct, 3.75% APY, $100 to open, $1 balance to earn highest APY

BankUnited, 3.75% APY, $5,000 to open, $5,000 balance to earn highest APY

Venture Bank, 3.75% APY, $1 to open, $1 balance to earn highest APY

OneUnited Bank, 3.75% APY, $1,000 to open, $1,000 to earn highest APY

GMAC Bank, 3.75% APY, $1 to open, $500 balance to earn highest APY

Heartland Bank Direct, 3.55% APY, $500 to open, $1 balance to earn highest APY

Doral Bank Direct, 3.55% APY, $100 to open, $250 balance to earn highest APY

Capital One Bank, 3.55% APY, $1 to open, $10,000 balance to earn highest APY

E-Loan Bank, 3.51% APY, $5,000 to open, $25,000 balance to earn highest APY

Goldwater Bank, 3.50% APY, $1,500 to open, $100 balance to earn highest APY

Direct Huntington, 3.50% APY, $1 to open, $20,000 balance to earn highest APY

FNBO Direct, 3.50% APY, $1 to open, $1 balance to earn highest APY

Countrywide Bank, 3.50% APY, $10,000 to open, $10,000 balance to earn highest APY

ShoreBank, 3.50% APY, $1 to open, $1 balance to earn highest APY

The banks listed above are insured by the FDIC with the increased limits of insurance to $250,000 per depositor. Congress approved the new limits until at least December 2009.

Find the complete list of highest bank savings rates at Money-Rates.com.