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What is the best online saving account?

Which online saving account allows low minimum balances (less than $1000), but still offer a high interest rate? (Wamu, Inc Orange, Etrade, Citi, etc...?)

I have tried a lot of them and have to say that ING direct has definitely impressed me. There is no minimums, no transfer costs and a very good rate around 3.2% now i think. Plus once you set up the account transfering money is a sinch.

I use ING Direct - been very happy with them. It's a great way to save for a future endeavor. I've found them to be secure and easy to understand.

You can use bankrate.com to make sure but I think Wamu is offering 3.30% on online checkings

Believe it or not Paypal pays a fair money market rate comparable to ING Direct, and Emigrant.com. So if you happen to have Paypal account, you can park money there and not need to open a new account with someone else.

If you have money that you want to save for longer periods you might want to consider loaning it out. I am averaging now 14.83% on money that I have loaned out to other individuals. Even if you only loan money to those with AA perfect credit, you can average 7% and that is far better than any money market account. It has worked out pretty good for me so far. Good luck.

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