Online Savings Accounts & Current Rates - Page 3

poundwise · #41 (**permalink**) 07-19-2006, 07:23 AM

Quote:

Originally Posted by fratkid21

just a comment: one united bank is a bank for the african american community, can others bank there as well?

Here is the response I received via e-mail to just such a question:

"Thank you for your recent email inquiry. Our products and services are available to anyone that is interested in opening an account with us. We welcome your business!"

poundwise · #42 (**permalink**) 07-19-2006, 07:24 AM

I updated the rates today (Capital One up to 5.00%) and received the response (in above post) from OneUnited, in case anyone else was curious.

Here's a quick link to the first post with the rates... link

Ima saver · #43 (**permalink**) 07-22-2006, 08:15 AM

I am bumping this to the top, so teeninvestor can see some places he might put his money.

Ima saver · #44 (**permalink**) 07-22-2006, 01:11 PM

Teeninvestor, did you look at these rates for some of your savings vehicles?

Ima saver · #45 (**permalink**) 07-24-2006, 03:03 PM

To the top again!!

poundwise · #46 (**permalink**) 07-28-2006, 01:04 PM

Updated yields today (Friday, July 28):

Emigrant up to 5.15% APY
GMAC up to 5.10% APY
Allstate Bank up 4.25% APY

See the complete list

fratkid21 · #47 (**permalink**) 07-29-2006, 12:38 AM

and ING still at a measley 4.35, losing business by the second.... everyone i know has left them (all with 6 figure amounts)!

poundwise · #48 (**permalink**) 07-31-2006, 08:50 PM

Update today:

Amboy up to 5.15%

See all rates here.

brecklin · #49 (**permalink**) 07-31-2006, 10:24 PM

note:
yes OneUnited has the highest rate but its only compounded <b>quarterly</b>

brecklin · #50 (**permalink**) 07-31-2006, 10:28 PM

and UFBDirect rate is 5.16%
but its compounded monthly

poundwise · #51 (**permalink**) 08-01-2006, 05:13 AM

Quote:

Originally Posted by brecklin

note:
yes OneUnited has the highest rate but its only compounded <b>quarterly</b>

This is irrelevant as the figures given are the annual yields, meaning compounding has already been factored in.

poundwise · #52 (**permalink**) 08-01-2006, 05:15 AM

Quote:

Originally Posted by brecklin

and UFBDirect rate is 5.16%
but its compounded monthly

UFBDirect's web site states:

"High Yield Money Market Savings, Rate 4.40%, APY 4.50%"

So I'm not sure where you are getting that figure from.

[Addendum: Ok, I see now that UFB offers a Jumbo MMA with that rate. However, the minimum balance required is $50,000 so it does even come close to qualifying for comparison on this list.]

joseblanco · #53 (**permalink**) 08-01-2006, 06:24 AM

Yes, there are several banks that offer 5%+ but require huge minimums that I've never bothered to mention. USAA offers the same deal 5.14% for balances over 50k plus for the first 6 months if you open the account online via their website you get a bonus interest rate of 5.65% I do not think you have to be a member for USAA banking, but I do not know how you can sign up via the website without being a member.

Ima saver · #54 (**permalink**) 08-04-2006, 09:39 AM

Bringing this topic up to the top! I am keeping track for when I sell my house.

BTC · #55 (**permalink**) 08-04-2006, 09:53 AM

GMAC lowered their rate to 5.00% APY?

fratkid21 · #56 (**permalink**) 08-04-2006, 10:41 AM

hello all... i just noticed it too... GMAC lowered from 5.1 to 5.0...

question - i have an ED and HSBC, i left ING. I was now focusing on GMAC, but now am considering going with an alternative option... what do you all recommend as far as a solid bank, decent transfer times, with a good user interface (besides the ones i have mentioned above)???

is Amboy any good? other recommendations?

poundwise · #57 (**permalink**) 08-04-2006, 12:36 PM

Amboy is fine. Certainly nothing special in terms of interface, etc.

Personally, if I were opening a new account I'd have to seriously consider OneUnited. Apple Bank looks good too.

fratkid21 · #58 (**permalink**) 08-04-2006, 01:51 PM

well, i really like GMAC because they have check writing and ATM access to you cash.... but, they have been plagued in the past with the poor earnings of GM and, now they are being sold to another financial group....

So with their decrease in rates, i am not sure what is happening, and really like the features that they have...

Has anyone else tried one united?

poundwise · #59 (**permalink**) 08-05-2006, 05:54 AM

Quote:

Originally Posted by fratkid21

well, i really like GMAC because they have check writing and ATM access to you cash.... but, they have been plagued in the past with the poor earnings of GM and, now they are being sold to another financial group....

So with their decrease in rates, i am not sure what is happening, and really like the features that they have...

Has anyone else tried one united?

The news regarding GM's sell-off of GMAC is not only old, but inconsequential. If anything, the move makes GMAC stronger. This is a non-issue. However, I also do not see any reason why I would open an account with GMAC Bank at 5.00% (with minimum requirements) over the several other offerings now at 5.15% and up.

poundwise · #60 (**permalink**) 08-05-2006, 05:56 AM

Quote:

Originally Posted by BTC

GMAC lowered their rate to 5.00% APY?

Yep. They were at 5.10% for less than two weeks. Kind of odd.