Hi Yield Savings Account

In past few months, we have seen rise in rates of term deposits, as Fed continued rising its short-term interest rate. Still we feel it is not time yet to go for purchasing a long-term (more than 6 months) Certificate of Deposit (CD) and lock in your money. Rather than doing that, you may put your money to work in one of the following accounts with lucrative rates and enjoy high yield and security of your cash, while always getting access to it:

HSBCdirect.com is giving 4.25% in Money Market Account with minimum deposit of $1 only.
PayPal.com's money market account currently has a yield of 4.12% with no minimum.
Emigrant-direct's rate (which was leading until recently) for savings account is 4.00% with no minimum.
MyBankingDirect is giving 4.10% in Money Market Account with minimum deposit of $5000.
Ing-Direct's rate is 3.75% with no minimum.
MetLife is giving 3.50% in its Money Market Account with minimum deposit of $5000. They are also giving $50 bonus for new accounts.
AmboyDirect is probably trying to give high interest but its conditions (e.g., initial $5000 earn no interest, etc) are so complicated and confusing that we felt it's better to avoid it. If you wish to try to understand what they are trying to say, please check it yourself.

[Note: MyDollar has no connection whatsoever with the above-mentioned banks. We are giving such information only because we think this would be useful to our readers]