WTDirect is now offering a highly competitive 4.90% APY on their high yield online savings account. The minimum balance required for this rate is $10,000; any balances from $1-$10,000 will earn 4.90% APY for the first 60 days. If your balance is lower than $10,000 after the first 60 days, the interest rate drops to a low 0.60% APY. Here are some of the account’s features:

• No minimum balance fees or online transfer fees
• No hard credit pull when opening your account
• 6 free transfers are available per month
• Allowed an unlimited amount of linked external accounts
• Transfers typically take 3-5 business days
• Interest continues to accrue until the funds actually leave your account
• Interest is compounded daily and will be credited to your savings account monthly
• The daily balance method is used to calculate interest on your account

WTDirect has FDIC insurance on every account with Wilmington Trust FSB, which protects your money up to $100,000 per depositor. Bankrate.com has given WT Direct a review of 4/5, which is a safe and sound rating. For more information, call their customer service hotline at 1-800-WTDIRECT or visit their savings account website here.