kev, Emigrant is legit. I

[teaboy]

kev,
Emigrant is legit. I have used them to chase the highest savings rate for my $200k deposit while waiting to buy.
The thing to be aware of is that the 1.25% may not last too long nor still be competitive in 6 months.
If you have a 6 month horizon, it might be better to try everbank, as they seem to have an into rate of 1.6% for 6 months.
http://www.bankrate.com/funnel/savings/savings-results.aspx?local=false&IRA=false&prods=33&ic_id=CR_searchMMASavingsRates_checking_SeeallMMASavingsproducts

I put my $200k into dollarsavingsdirect.com (another Emigrant bank) about 6-7 years ago and remember their rates being uncompetitive fairly soon thereafter.

Back then I had plenty of spare time at work and didnt mind all the hassle and effort required to open a new bank account and transfer the funds. I moved it again a couple more times, again chasing an extra .25%.

It’s worth remembering that an extra .25% on $200k works out to something like an extra measly $30 per month after tax. It wouldn’t be worth the hassle for me these days.

tb