Online Savings Accounts & Current Rates

[weissheit]

Investment Opportunities: Financial Investing, Corporate Notes from GE Interest Plus

GE's MMA based upon their AAA bonds. They are not FDIC insured, rates are in the low 3% range, free checks but minimum amount is 250 USD per check. YOu get 25 USD for signing up and either deposit 500 USD or sign up for monthy deposits of 100 USD.

[sweeps]

HSBC 3.5%... guaranteed until 8/15/08. source

[eisor]

We just closed our Emigrant account and went with ING. I have the Electric Orange account (which I love!!) and I wanted the convenience of having my savings & checking in one place.

[aurielle]

I got an email from HSBC. Starting today, their rate is up to 3.5% through 8/15 on their online savings account.

EDIT: Oops! I didn't see Sweep's post there.

[Jazzmint98]

Shore Bank has increased their online savings rate to 3.50% APY effective 6/4/08.

[BTC]

I just got an email from FNBO Direct. Their yield is back up to 3.50%.

[m3racer]

I just got an email from FNBO Direct. Their yield is back up to 3.50%.

Woo Hoo!!! It's about time for some rate increases.

[poundwise]

Updates, June 9th

Increases --

OnBank from 3.49 to 3.50
Shore Bank from 3.30 to 3.50
FNBO from 3.25 to 3.50
Ultima Bank from 2.70 to 2.80

Decrease --

AmTrust Bank from 2.75 to 2.50

[Aleta]

I wonder if this an upward trend in rates increasing or just banks having to raise money?

[weissheit]

I wonder if this an upward trend in rates increasing or just banks having to raise money?

Maybe a little of both, depending upon the bank. Of all the banks that changed their rates only AMTrust is a big player in the mortgage market and they dropped their rates.

[sweeps]

AARP down to 3.50%

Can someone say bait and switch?

[Aleta]

As soon as I signed up, the rates went down. I think you are locked in there for about 8 months. The last I looked it was 4%. The rates have changed too often already. For what they are offering, I'll stay with FNBO which is also offering 3.50.

[weissheit]

Regarding AARP's drop of rates by 1% in less than a month. Those who got 4.5% & 4.05% at least for now should just look at is as a great rate on a short term CD. I imagine that once word got out that AARP & Huntington Bancshares had teamed up for such a generous offer above market rate then the program became a victim of its own success. Based on what I am seeing 3.5% has become the best rate the market can sustain. Its not great, but it much better that what brick-n-mortar offers right now and its a liquid cash account. Many brink-n-mortar banks have this rate for CDs and require a 3+ years lock up. And we all know rates will be going higher in the very near future. I remember my mother cashing in her last 10 year CD she took out in the mid-late 80's for something like 12%. The renewal rates where nothing near it. Good luck.

[ScrimpAndSave]

I looove my ing account!

[inanewellington]

A query: are the rates listed in this thread real or nominal returns on the various accounts?