If you’ve got a good amount of savings built up, a WTDirect Savings Account is one high yield savings option.
WTDirect is the new online division of the publicly traded bank and trust that is Wilmington Trust. It’s a new online bank that’s offering a high yield savings account with an APY of 1.76%.
They’re keeping up with the interest rate changes in this economy, which are in line with current trends.
How To Apply
You can apply online by visiting WTDirect’s site through this link.
A Few Notes about the WTDirect Savings Account
- WTDirect rates are consistently in the top 5% of U.S. banks.
- No fees.
- FDIC insured.
- High transfer limits.
- Transfers to and from WTDirect are straightforward and can be done electronically.
- No need for a checking account to receive the high rate.
- There’s no minimum balance required so you can immediately earn 1.76% APY for the first 60 days. However, after 60 days, you’ll have to deposit enough funds to reach a balance of $10,000 in order to maintain the 1.76% yield. If you are unable to reach that target balance, then your APY will readjust to 0.50%.
WTDirect’s Current Rate Table
| Balance | APY | Timing |
|---|---|---|
| $1 and up | 1.76% | Effective from 0 to 60 days your account has been open. |
| $10,000 and up | 1.76% | Takes effect after 60 days from the time your account was opened. |
| Under $10,000 | 0.50% | Takes effect after 60 days from the time your account was opened. |
My take: WTDirect is a great bank for those who maintain high balances in their savings accounts. If you need a place to keep at least $10,000 with full liquidity, then this high yield savings account may be a good option. Note that because you can link existing accounts to your WTDirect savings account and since electronic transfer features are provided, it makes it easy to move that money around.
Note as well that WTDirect’s APY is slightly higher than the ING Direct Electric Orange Account at the moment which is lingering around .25% to 1.65%; it is, however, comparable to some other popular high yield savings accounts that I’ve come across such as Etrade Bank’s Complete Savings Account (now returning 0.95% APY) and FNBO Direct’s Online Savings Account (returning 1.90% APY).
If you’re interested in the WTDirect Savings Account, then click on the banner below to apply.
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- Earn top returns: FNBO Direct [1.90%], HSBC Direct [1.65%], WTDirect [1.76%], E*Trade Bank [0.95%], ING Direct [.25% to 1.65%]
- Cash bonus: Discover More [$50], American Express [$25], Lending Club [$25]
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{ 11 comments… read them below or add one }
I’ve seen this offer posted on a couple of other pf blogs and it seems like a good deal. The more high yield savings accounts available, the better.
Yes, I am sure everyone wants to report the same good news!
It’s a fairly short promotion — it only runs for 2 weeks, so I guess bloggers did not waste any time writing about it.
We’re here to report what’s available out there!
My daughter has been looking for a place to get the highest return possible; I appreciate this information which I will forward on to her. Thanks!
I recently received an email from DollarSavingsDirect.com offering 3.75% on an initial deposit of $1,000.
It is part of Emigrant Bank.
Went to website could find no negatives.
@Art,
Thanks for pointing that site out. I shall have to check it out!
Also check out Everbank.com offering a 4.76% APY for Money Market and Checking. No bonus though. That lasts for 3 months, then reverts to 3.51% APY. The one negative was you could only invest upto $50,000 for the intro rate. I am in there now.
I use WaMu’s online savings, which has no minimum deposit, and they’re at 3.5 last I checked (but they adjust regularly). If only I had $10,000 to put into that other savings though *sigh* one day…
Just want to let everyone know that this promotion is no longer available! However, note that you can still sign up for a WTDirect high yield savings account that returns a 3.31% APY (see details in my post above).
Thanks to all those who’ve offered some great suggestions for high yield savings accounts. The time is nigh for finding the best returns for your cash!
I need to find a new bank. I left countrywide when I heard bankruptcy tales. And I just jumped into another bank without really looking over the market.
WTDirect’s been around a while, the only downside I see is that the 3.31% APY rate requires at least $10k. They don’t have the highest rate AND they require a minimum of $10k… booo.
Why I thought they didnt need any minimum balance. Anyway I like their interest rate. And the talk about the bank has also been good so far.
Fran.