they are legit.
this is a good compilation of high interest savings/money market accounts (posted on my blog a few days ago):
http://www.emoneycentral.com/cgi-bin/display.cgi?db=db9&start=1
it doesn't seem that they've noticed the Amboy 4.75% yet, but if you got to Amboy's homepage, you won't find the 4.75%.
one thing to note is that the GMAC account is a money market account (
http://www.gmacbank.com/ ) and not a savings account.
From
http://www.ratecatcher.com/
What are the Differences among Savings Accounts, Money Market Accounts, and Certificates of Deposit?
All three of these accounts are very safe, the differences lie in the interest rates, withdrawals allowed each month, the liquidity of the funds in the account, and the minimum initial deposit.
? A savings account is a very liquid investment that normally accrues less than 1% interest annually. The number of withdrawals per month are usually not limited. The initial deposit is usually low, with some accounts beginning at $1.
? A money market account is a semi-liquid fund that can currently earn anywhere between 1.39 and 4.60% APY. The amount of withdrawals each month is six. There is wide variance in the minimum initial deposit, but it is usually around $100.
? A certificate of deposit is an account with a wide variety of terms and conditions to choose from. Options to consider are: length of deposit, interest rate, and amount deposited. Withdrawals are discouraged and penalties usually occur if money is withdrawn before the certificate matures.
//krunk (^_^x)
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