6.0% APY Savings Account

Posted by Kirk Lindstrom May 20, 2007

FNBO Direct has a 6.00% APY savings account with rates good through September 28,2007.

A policy change starting June 18 will limit customers' deposits to $1 million. However, for those who already have $1 million or more on deposit prior to June 18th, the new limit will not apply.

FNBO does not accept POD (Payable on Death) accounts which is a way to get more FDIC insurance. I would not put more there than you can get FDIC insurance for.

Note: The daily rate is 5.84% which works out to 6.00% APY.

If you want to lock in rates for a longer period, check out my rates survey titled "Best CD Rates for May 2007"

where you can get

• A 17 Month CD paying 5.55% @ Security Savings Bank
• 9 or 10 Month CDs paying 5.41% @ World Savings

Ask questions about CDs and Annuities in our discussion forum: Get The Best CD Rate

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DISCLAIMER: Answers & my words are general in nature, are not meant as specific investment advice, and do not necessarily represent the opinion of anyone but Kirk. Individuals should consult with their own advisors for specific investment advice. In addition, past performance does not guarantee future results.