Thursday, May 18, 2006

Citibank e-Savings account

I recently wrote about the savings rates on various on-line banks versus the Fidelity money market funds. At the time, the Fidelity rates were better than all the popular on-line banks.

As a quick update, I came across a new offer from Citibank today for an "e-savings" account with a rate of 4.75%. There are no minimum balances.

Although the rate is slighly higher, we are only talking about 0.13% versus FDRXX. On $10,000, this difference only equals about $1 per month. Hardly worth opening another account if your money is already in Fidelity, but might be worth it if your looking for a new account.

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