6.00% APY from HSBC

The HSBC Direct Online (HSBCdirect.com) announced that it would give 6.00% APY interest to new money deposited in any old or newly opened savings account until April 30th, 2007. Currently, this is the highest rate among all savings accounts in USA and it has no minimum deposit or fee requirements. It's even better than 3-month CD rates (highest level is near 5.5% APY) and has extra advantage that you can withdraw your money anytime you want.

So if you have money that you need to invest for a short time, this is a good place to keep. Other banks like EmigrantDirect.com is offering 5.05% APY in savings accounts. Most money market funds (MMF) are offering similar yield rates.

Disclaimer: MyDollar has no connection whatsoever with the sites mentioned above. We give such information only because we think our readers may benefit from it.