Business Finances

Some are will­ing to give you a lit­tle money in return. Since you need both a busi­ness sav­ings account and a per­sonal sav­ings account, here’s a sam­pling of how three of the top ranked online banks stack up today.

$100 Bonus with a Busi­ness Sav­ings Account

ING Direct often offers bonus incen­tives for open­ing sav­ings and check­ing accounts. This is their lat­est enticement.

The Busi­ness Sav­ings Account pays a 1.05% Annual Per­cent­age Yield plus a $100 bonus just to open an account by Feb­ru­ary 28, 2010. You must use Ref­er­ence Code BSA323 to be eli­gi­ble for the $100.

• No min­i­mums, hid­den fees or ser­vice charges
• Access for up to 3 autho­rized sign­ers for added flex­i­bil­ity and security
• Man­age your account online with ²⁴⁄₇ accessibility

Learn more at www​.busi​ness​.ingdi​rect​.com.

Per­sonal Sav­ings Account Deals

If higher inter­est rates are more tempt­ing for you, FNBO Direct or Ally Bank (for­merly GMAC Bank) might be your cup a tea. Kiplinger’s Per­sonal Finance mag­a­zine selected FNBO Direct as their favorite sav­ings account for 2008. Adver­tised rate is cur­rently 1.40% APY. Kiplinger’s selected Ally Bank offer­ing 1.44% APY, for the same honor in 2009.

Ally Bank Online Sav­ings Account drew Kiplinger’s inter­est for:

• No min­i­mum deposit to open the account
• No monthly fees
• No min­i­mum balance

Ally also offers a no-​penalty cer­tifi­cate of deposit (CD).

FNBO Direct also offers No min­i­mum bal­ance but states on their home page that they do charge fees and require a $1.00 min­i­mum bal­ance.

All three of these inter­net bank­ing insti­tu­tions are FDIC insured for up to $250,000.00.

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