After months (and months!) of falling interest rates, I recently reported that HSBC Direct raised their savings rate to
3.50% APY*. Well, it seems that competition for your savings dollar is starting to heat up…
E-Trade Bank has responded by increasing the interest rate on their “Complete Savings Account” to 3.30% APY. This still falls short of HSBC Direct‘s
3.50% APY, but hopefully it’s a sign of things to come.
While we’re on the subject, be sure to check out my roundup of the best online savings accounts, which is based on feedback from readers such as yourself.
*For updated rates, be sure to check out my list of online savings account interest rates.