4.00% APY: Emigrant-Direct

We are reproducing this statement from Emigrant-Direct Bank:
"Effective today, Tuesday, September 20, EmigrantDirect now yields 4.0%
APY, the highest rate in the country with no fees and no minimums, FDIC
insured. Responding immediately to the most recent news from the
Federal Reserve, EmigrantDirect is pleased to be able to offer this
unmatched rate to our loyal customers. ... Electronic transfers into and
out of your account are free and our new 4.0% APY is guaranteed through
December 31, 2005 (subject to upward adjustments only)."

This is certainly a good news for people wishing to keep their cash
invested in short term deposits with immediate access.