Highest Yielding Savings Accounts Nationwide

For savers who are not ready to commit their funds to a fixed term Certificate of Deposit, high yield online savings accounts might be the answer to parking short term cash. One thing that differentiates most savings accounts from CD's is that savings accounts interest rates tend to fluctuate, whereas CD rates are mostly fixed. Some savings accounts however, do not allow you to make more than a limited number of transactions per month. There are several issues to keep in mind however, such as minimums to open and maintain your savings account, monthly service fees and interest rates.

The three best savings accounts in the country include:

UFBDirect.com , which currently offers a 4% APY savings account with $500 required to open the account. There is no check writing but no monthly service fees and no minimum balances to maintain in order to avoid paying out fees.

Dollar Savings Direct, also offers a 4% APY savings account with the same characteristics as the one offered by UFBDirect.com. The only exception is that the minimum required to open your account with Dollar Savings Direct is that you deposit $1000.

GMAC Bank offers a 3.75% APY savings account with a minimum of $1 to open and maintain your savings account. There is no checkwriting against the account but there aren't any maintenance fees associated with it either.

These are all good deals if you have some cash to park on a short term basis.