PLEASANTON, Calif.—(BUSINESS WIRE)—E-LOAN^®, an online consumer direct lender, today announced that since it launched its no fee, high yield online savings and certificates of deposits (CD) offering five weeks ago, it has received more than $754 million in online deposits. As of October 31, 2006, consumers opened 18,132 accounts, allowing them to receive a high rate of return with one of America’s most trusted financial services brands.

“Beating our year end goal in just four weeks is especially gratifying because it means that now more than 20,000 consumers have been able to enjoy a hassle free way to save money while receiving a high rate of return on their hard earned cash,” said Mark Lefanowicz, president of E-LOAN. “The customer response to our fast and easy all-online process has been overwhelmingly positive, far surpassing even our own expectations.”

“The immediate and tremendous success of our offering proves that when consumers are given a quality product from a name they can trust, there simply is no better alternative,” said Joel Bosch, executive vice president of retail banking for E-LOAN. “We’ve demonstrated that you really can improve an age-old product simply by thinking about what matters most to the consumer. “

More than 84% of E-LOAN customers have indicated that a trusted brand is a key influencer in choosing a high-yield online savings or CD account. In addition, more than three fourths of those customers surveyed said that online security – a core value at E-LOAN - is also an important factor in that choice.

E-LOAN Savings extends the company’s core pro-consumer values of honesty, fairness and respect by providing an easy, open and competitive online savings offering. E-LOAN Savings provides:

• A simple one-page online application;
• Absolutely no fees;
• Immediate account funding so that the customer begins earning interest the day the account is funded;
• An easy, intuitive website navigation.

The savings and CD accounts are offered by E-Loan through its financial affiliate, Banco Popular North America. Consumers can find additional information or an application for E-LOAN Savings at www.eloan.com/savings.