E*Trade bank just increased their savings rate on their online complete savings account to 5.05%. With constant rate cuts, this is a rather unique move in the world of banking. It would appear that this is an effort to draw more money to maintain the required level of deposits. In addition, E*Trade is still running a $25 bank bonus promotion. In addition, they also increased the rates on their CD accounts, with a 5.10% on 3 month CDs, 5.25% on 6 month CDs, and 5.15% on 1 year CDs. Here are some of the details:

• $1 minimum deposit to open account
• No minimums or account fees
• No hard credit inquiry
• Free online ACH transfer system
• Typical 6 withdrawal limits per month

E*Trade bank has had some problems recently with their asset backed mortgage securities portfolio, but as long as you maintain under $100,000 in deposits you should be completely covered by FDIC insurance.