Online Savings Accounts & Current Rates

[weissheit]

Flagstar is down to 3%. Sheesh, they're dropping like flies.

I wonder how DollarSavings can keep offering 4%. They must've written some pretty bad loans....

As all the banks that wrote alot of bad one are dropping their rates like a rock maybe they wrote some pretty good ones or the did not write any at all. Best way to find out is to research Emigrant Bank of NYC and see what they did during the heyday of the bubbles.

Alternatively maybe Emigrant just did not get as healthy a cut of free taxpayer dollars so they have to get their capital the old fashion way, by offering market leader rates.

Anybody know the scoop on Emigrant (Dollar Savings Direct is a division of Emigrant who also owns EmigrantDirect)

[Aleta]

ING Direct down to 2.40%

[poundwise]

Updates Today 1/20 --

Umbrella down from 2.75 to 2.60 (.15)
ING down from 2.50 to 2.40 (.10)


Note: Presidential Bank should have been removed from the list when the criteria changed, as it requires $5K to open. It has now been removed.

[Aleta]

GMAC 12 CD down from 3.50 to 3/00%

[Jazzmint98]

Shore Bank is down to 3.15%.

[noppenbd]

The last one to fall.... DollarSavingsDirect down to 3.50%.

[Aleta]

Emigrant Direct savings down from 2.50 to 2.40%.

[poundwise]

UPDATES TODAY

Dollar Savings down from 4.00 to 3.50 (.50)

Shore Bank down from 3.50 to 3.15 (.35)
Century Bank (Money Market) down from 3.32 to 3.09 (.23)

Century Bank (Online Savings) down from 3.31 to 3.26 (.05)
Union FSB down from 3.10 to 3.05 (.05)
Bank of Internet (Money Market) down from 3.06 to 2.90 (.16)
Emigrant Direct down from 2.50 to 2.40 (.10)
Amegy Bank down from 2.40 to 2.25 (.15)

[sweeps]

3.50% is a GIFT in this environment.

[falcon2006]

3.50% is a GIFT in this environment.

Event at 3.5%, your money is still losing it’s value at the current inflation rate. Might as well spend them all...

[sweeps]

Event at 3.5%, your money is still losing it’s value at the current inflation rate. Might as well spend them all...

Eh? Inflation is very low right now. In fact the primary worry is about deflation.

[falcon2006]

Eh? Inflation is very low right now. In fact the primary worry is about deflation.

according to usinflationcalculator.com, the inflation rate in 2008 is 3.8%

[sweeps]

according to usinflationcalculator.com, the inflation rate in 2008 is 3.8%

Hehe, well, yes we had some high inflation the first half of 2008 (take a look at gas prices). But now we are deflationary.

[saverbootay]

CNB is down to 3.4%.

[cooliemae]

I would imagine that ING will be lowering their rate again soon. Their new CD rates have the 6 and 9 month rates quite a bit lower than the current orange savings rate.