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SFGI Direct Savings Account Rates

SFGI Direct Savings Account Rates

SFGI Direct which is a division of Summit Community Bank is offering one of the highest savings account rates available today. You might not heard of SFGI Direct or Summit Community Bankbut the bank is located in the Eastern Panhandle and South Central regions of West Virginia and the Shenandoah Valley and Northern regions of Virginia.

Savings Account Rates at SFGI Direct

SFGI Direct's current savings rate is at 1.00% with a savings yield of 1.01%. A few years ago a 1 percent savings account rate would have been a joke but considering the FDIC's national average rate cap for savings rates is 0.13%, 1.01% doesn't look that bad.

The savings account only has a minimum balance amount of $1 to earn interest. There are no monthly fees, you can open an account online and fund the account by doing a transfer from another bank. This makes opening an account and funding the account very easy.

The minimum opening savings account balance is $500. The 1.00% savings rate is current as of 10/28/11. To check on current savings rates and to open a savings account go to SFGI Direct Savings Account Rates.

You can view a list of the best savings account rates in your state by using our savings rates list here: Best Savings Account Rates.

Author: Monica Harris
November 15th, 2011