Here are some of the details on this great deal:

• No minimums or fees
• Only a $1 deposit required
• ATM cards are available
• Free checks for life
• Cash back on debit card purchases
• No hard credit pulls

It’s true that WaMu has had some problems recently–this is part of the reason they are offering such great rates. However, WaMu is FDIC insured for the standard $100,000, and if you keep your deposits below 100k you shouldn’t have anything to worry about. I recently opened this account a 3.75% and was pleasantly surprised when they announced an increase to 4.00%.

By opening a savings account instead of a CD, you keep your assets liquid and have them ready if and when you need to make a withdrawal.

The account features no minimums or fees, and only requires a $1 deposit. The rate is guaranteed through 8/15/2008. ATM cards are available, and unlimited links to external accounts can be set up.

In addition, HSBC is also offering a $25 bonus for completing the following steps:

• Apply for an HSBC Interest Checking Account online
• Open and fund your Interest Checking Account with $2,000 in new money
• Get $25 credited to your account*

This offer ends on June 15, 2008.

Their savings account features:

• $1 minimum deposit to open account
• No minimums or account fees
• No hard credit inquiry
• Free online ACH transfer system
• 6 withdrawal limits per month
• $100K per day limit on outgoing and incoming ACH transfers
• ACH transfers complete in one business day
• 9 day hold time for initial deposit (ACH or check)
• No hold for wire transfers

You can also sign up for a checking account that features:

• 3.25% APY on balances over $5,000
• Unlimited ATM fee refunds
• Free online bill pay
• Unlimited check writing
• Online check and deposit images

E*Trade has seen some financial problems recently, but as long as you keep your deposits under the FDIC insured limits there should be nothing to worry about. If you already have an account with E*Trade, you can link this new savings account to it. Visit their website for more information.

The unique thing about this account is a bonus feature. You can earn $5 per $1,000 average monthly balance of the previous 6 months for a maximum bonus of $50. So for those who have $10K or less in deposits, the bonus would add about an extra 1% to the interest rate resulting in a rate close to 6% for the those 6 months.

This is a pretty good deal for those looking to store their money in the short term while keeping some liquidity. The bonus promotion is only limited to new customers.

WaMu Free Checking:

• No minimum balance or direct deposit requirements, open with $1
• Free basic checks for life
• No ATM fees on their end
• One free overdraft per year
• Free outgoing wire transfers.

The Statement Savings account has:

• A competitive 4.75% APY on all balances (rate only available online)
• No minimum balance requirements, open with $1
• Instant transfer to/from the Free Checking

If you already have a checking account with Washington Mutual, you will have to open a new checking account to take advantage of this bank deal. You can just go ahead and close your old one.

You can deposit checks directly into the 4.75% APY savings account at an ATM, maximizing interest. From there you can move money into the checking account instantly online as you need it, with a limit of 6 transfers a month. In addition, you can access your account at any of Washington Mutual’s large network of ATMs.

Washington Mutual offers free online fund transfers that allows you to link your account to external accounts using a routing number and account number. For more information, visit Washington Mutual’s savings account signup page.

Washington Mutual is of course FDIC insured.