Online Savings Accounts & Current Rates

[BTC]

Yeah, I also checked FNBO's website and it had been updated. And here I was thinking I was earning 5.05% APY today.

[savingtaker]

Sorry. Most of my savings are in an FNBO Direct account. I've been looking for a good reason to move most of it into my E*Trade savings account, where I can then transfer it into my brokerage account, invest it and lose it with just a few clicks of the mouse.

Hah, maybe this is a sign. And maybe you'll actually end up making more money.

[Aleta]

Actually the apr is 4.22 at FNBO and the APY is 4.30. It became effective as of today. I think that some of the other online banks are actually higher than this.

[BTC]

Originally Posted by Aleta

Actually the apr is 4.22 at FNBO and the APY is 4.30. It became effective as of today. I think that some of the other online banks are actually higher than this.

Thanks for the update. It's timely information like this that keeps me coming back to this site.

[MoneyenoM]

Get 7% at Patelco CU
CD 12-month term
$1,000 maximum
$1,000 minimum opening balance
Available for new members only.

I can't post the link because of the forum rules
Just search for Patelco in google

[poundwise]

Originally Posted by MoneyenoM

Get 7% at Patelco CU
CD 12-month term
$1,000 maximum
$1,000 minimum opening balance
Available for new members only.

I can't post the link because of the forum rules
Just search for Patelco in google

That's a fantastic deal, however, you must live in or around San Francisco, be an employee of a company serviced by Patelco, or have family members who are already members, to be eligible for a membership. link

[safari]

Originally Posted by poundwise

That's a fantastic deal, however, you must live in or around San Francisco, be an employee of a company serviced by Patelco, or have family members who are already members, to be eligible for a membership. link

I wouldn't call it a fantastic deal. The maximum deposit is only $1,000. Personally, I wouldn't bother opening a CD with just $1,000.

[Maxwell76]

Capital One is killing me! They're now down to 3.50%.

I previously had thought about switching to E-trade, but they've just dropped from 5.05% to 4.40%.

[Ima saver]

Every body is dropping their rates. I just tied up 200K at a bank paying 4.8% for a year!! They will pay 5% for 6 months!

[BTC]

Emigrant Direct dropped their yield from 4.55% to 4.30%

[poundwise]

Originally Posted by BTC

Emigrant Direct dropped their yield from 4.55% to 4.30%

Included in today's update (see below). Thanks!

[poundwise]

Updates --

KeyDirect down from 4.75% to 4.00%
Umbrella Bank down from 4.65% to 4.02%
EmigrantDirect down from 4.55% to 4.30%
Banco Fortuna down from 4.55% to 4.30%


As always, see the first post in this thread for the complete listing of current rates.

[Aleta]

The rate at Emigrant won't go into effect until Monday, January 28th.

The APR is 4.21 and the APY is 4.30.

Mu local bank's money market will be at 4.50 apr/ 4.59 APY until sometime in March. Think that I will transfer money from these other accounts and just leave a little over $1. in them.

[BTC]

According to Emigrant's website, their lowered yield is effective right now.

[Aleta]

I called and the rep told me Monday, because I couldn't see what the apr was so I called them. As the rates drop, I'll take money out and move it, leaving a small amount in there so as not to have any paperwork and it will keep it open.

[Maxwell76]

Every body is dropping their rates. I just tied up 200K at a bank paying 4.8% for a year!! They will pay 5% for 6 months!

Yeah, CDs don't look so bad now do they? I wish I had put some money in one last fall when rates were as high as 6%.

I called and the rep told me Monday, because I couldn't see what the apr was so I called them. As the rates drop, I'll take money out and move it, leaving a small amount in there so as not to have any paperwork and it will keep it open.

The problem I see with rate-cashing in this environment is when you think you've settled into a nice interest rate at one bank, it's only a matter of time before the latest Fed rate cut causes it to drop.

[Aleta]

I'm moving my money to my brick and mortar bank that I received a certain rate for 6 months. It would be foolish of me to leave money in these banks when I could be making more in my own bank. I agree that if you're going to use your time and gasoline to switch banks; you're wasting your time and energy. If it only takes a click of the mouse, you'd be foolish to leave your money in a bank making less.

[MoneyenoM]

Originally Posted by BTC

Emigrant Direct dropped their yield from 4.55% to 4.30%

I am going to move my money to OneUnited. Hopefully, if it decides to drop the rate, it will still have the best rate.

Thanks in advaces

[maat55]

I would think that for long term investing, mutual funds would be a great buy right now. Putting money in cd's and savings might miss the boat.

[MoneyenoM]

Originally Posted by maat55

I would think that for long term investing, mutual funds would be a great buy right now. Putting money in cd's and savings might miss the boat.

Thanks for advice