Online Savings Accounts & Current Rates

[poundwise]

Re: Summary post of online MMA rates


Update 9/30: Emigrant Direct rate lowered from 5.15% to 5.05% APY

[Ima saver]

Re: Summary post of online MMA rates

Rates seem to be coming down!

[poundwise]

Re: Summary post of online MMA rates

Rates seem to be coming down!

???

Excluding the latest move by Emigrant, the other changes to the accounts on the lists lately have been moves upward -- including several that are now at or over the 5.25% APY mark.

[Ima saver]

Re: Summary post of online MMA rates

Well, that is good!

[poundwise]

Re: Summary post of online MMA rates


Update 10/03

E-TRADE's special offer is extended through October 31, 2006 (previously was set to expire on September 30.)

No rate changes as of this morning.

See the first post in this thread for complete list of account offerings and current rates.

[sweeps]

Re: Summary post of online MMA rates

Poundwise: E-LOAN changed their policy on balances of $5,000 or less. It has the same 5.5% rate. According to their T&C, they do not charge any fees, so theoretically, one could open an account with $5,000 and draw it down to $1 and still earn 5.5%. (However, according to The Banking Guy, E-LOAN reserves the right to close accounts that go below $500.)

[poundwise]

Re: Summary post of online MMA rates

Poundwise: E-LOAN changed their policy on balances of $5,000 or less. It has the same 5.5% rate. According to their T&C, they do not charge any fees, so theoretically, one could open an account with $5,000 and draw it down to $1 and still earn 5.5%. (However, according to The Banking Guy, E-LOAN reserves the right to close accounts that go below $500.)

That's great news for E-LOAN users or persons considering E-LOAN. I'll update page one.

[Broken Arrow]

Re: Summary post of online MMA rates

Poundwise: E-LOAN changed their policy on balances of $5,000 or less. It has the same 5.5% rate. According to their T&C, they do not charge any fees, so theoretically, one could open an account with $5,000 and draw it down to $1 and still earn 5.5%. (However, according to The Banking Guy, E-LOAN reserves the right to close accounts that go below $500.)

Really?

Yeah, you're right, they changed it!

Excellent. Now if they'll keep their rates competitive like that, I'll be a happy camper!

[Ima saver]

Re: Summary post of online MMA rates

You can't make much money on $1 sitting in the bank, even earning 5.5%

[sweeps]

Re: Summary post of online MMA rates

Lol .

[tmango]

Re: Summary post of online MMA rates

You can't make much money on $1 sitting in the bank, even earning 5.5%

If you wait a thousand years, at 2.5%, (assuming no taxes, ya right) that would be worth like 73 billion or so...


Edit( actually i overestimated it would be $52,949,930,178.99, still not a bad hall

[Bookie]

Re: Summary post of online MMA rates

If you wait a thousand years, at 2.5%, (assuming no taxes, ya right) that would be worth like 73 billion or so...


Edit( actually i overestimated it would be $52,949,930,178.99, still not a bad hall

Did you factor in the inflation rate? Let's see, a thousand years and 2.5% annual inflation would leave you . . .

[tmango]

Re: Summary post of online MMA rates

Did you factor in the inflation rate? Let's see, a thousand years and 2.5% annual inflation would leave you . . .

So I guess, since a pack of gum costs a dollar now... in a 1000 years a pack will cost 53 billion...

[safari]

Re: Summary post of online MMA rates

GMAC Bank raised their money market rate from 5.00% to 5.25% as of 10/06/06. I was thinking about switching to E-Loan, but now it looks like I'll be keeping my money with GMAC because I like their service and the checkwriting/ATM feature.

[poundwise]

Re: Summary post of online MMA rates


Update 10/06

GMAC from 5.00% to 5.25%

(Thanks safari)

No other changes as of this morning