Provident Bank, now Provident Direct online, is currently offering a 4.50% high yield online savings account with no minimum deposit requirement. Some of the great features that comes with the 4.50% APY high yield package are no monthly fees, free checks, online statements instead of mail, and no hard credit check during sign up. With the recent massive fed rate cut, a 4.50% annual percentage yield can be considered the highest yielding online savings account today. However, online savings accounts are like callable CDs with no rate guarantee for a specific term.
To open, you will need your home address, drivers liscense and social security number. Then you will be asked to choose the initial deposit amount, the initial funding of the savings account can be done by ACH transfer or check. And lastly, you will be asked to review Provident Bank’s account agreement and disclosures.
Provident Bank is FDIC insured (Certificate # 15951). For more information regarding opening an account, please visit Provident Bank’s savings account homepage.
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