E*Trade Cuts Interest Rates – Currently 2.50% APY

E*Trade chopped their interest rate from 3.01% down to 2.50%. This is one of the larger cuts from the banks listed in the top high yield savings account rates, but E*Trade had one of the highest interest rates out of those high yield banks, so it is understandable that their recent cut was so large.

How does E*Trade compare to other high yield savings accounts?

Even with such a large rate cut, E*Trade is still very competitive in the market for high yield savings accounts. As I mentioned in the previous article about the HSBC Direct rate cut, high yield savings accounts are still a good option and will earn you much more money than a traditional brick and mortar savings account. Here are more benefits of a high yield savings account.

Be sure to check the top high yield savings account rates for a current list of the top high yield savings account rates.