Online Savings Accounts & Current Rates

[saverbootay]

So it says 5% for a 12 month CD now, but they can just change that? Wow, I'm shocked too....

[weissheit]

While its impossible to determine which banks have been playing with fire, if they've been involved in sub-prime slime then I stay away from them regardless as to how sweet the rates are they offer.

I've got 2 CDs from my CU at 5% APR at a four year term. They keep all the mortgages they make on their books and promise to never sell the loan. My liquid cash is with Capital One 3.75% and they are a local bank for me in NoVA. They were not a sub-prime mortgage lender, but they are into credit cards, so I may move it over to another online bank that is not linked to toxic slime loans. Ones like AmTrust, WaMu, etc will never get my cash.

[omicron]

GMAC Online Savings at 3.55%

GMAC Bank : Online Savings Rates

[saverbootay]

Citibank Ultimate Savings Account is 3.5%. Guess they need deposits after taking over Wachovia?

https://web.da-us.citibank.com/cgi-bin/citifi/scripts/prod_and_service/prod_serv_detail.jsp?BS_Id=CitiUSA&BV_UseBVCookie=yes

[saverbootay]

I spoke too soon.

Looks like Wells Fargo and Citi are fighting over Wachovia now.

[noppenbd]

Update on SCBT (www.smallenoughtocare.com). I just got my first month's worth of 5% interest. No hiccups. I had to consciously work to use the debit card 10 times since I didn't get the account funded until Sept 20th (only had 10 days to use it 10 times). I don't expect that to be a problem in months ahead. I am having my CC bill autodrafted so that satisfies the ACH/DD requirement. IMO it is not much to do to get the 5%.

[saverbootay]

Onbank is 3.6% now.

VentureBank is 3.8%. Their FAQ page says that to transfer funds, you have to send email to them??!!

Looks like Wamu is 3% now. No better than ING. They also got rid of the 5% 12 month CDs and the 4.25% 8 month CDs.

[sweeps]

Another 50 basis point cut this morning. Look for falling rates again.

[okaythen]

how soon do they change the rate usually? I wonder if I can open up a CD in time in ingdirect, takes 6 days to let the transfered fund to become available

[saverbootay]

ING is usually one of the first ones to cut their rates.

But maybe with things like the LIBOR so high, maybe it's cheaper to borrow the money from us than from other banks.

[sweeps]

WaMu dropped from 3.75% to 3.0%.

[poundwise]

I have been working on a complete update and audit of the list and should have it completed and posted on or before Friday.

Thanks for all who contribute new and updated information.

[MomofFour]

I got an email about a new division of Emigrant Direct, Dollar Savings Direct. They are offering 4.0% APY with $1,000 minimum.

[saverbootay]

Wow! Fed cut rates, but Dollarsavingsdirect raises to 4%.

[Jazzmint98]

As of today, ING Direct Savings is down to 2.75%.