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| Investing & Banking stocks, bonds, banking interest rates, CDs and all other investment vehicles you want to talk about |
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It is disappointing. I moved money into umbrellabank's pot o gold account cause it was paying 5%. In just a month, it is down to 4.02%.
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I feel your pain.
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Thanks, I guess we are all going thru this.
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I read something today indicating that the Fed is expected to cut rates again this week, so savings rates could be headed lower. I wouldn't have expected them to cut again after the emergency .75 cut. We'll see.
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Many other people have already said it, but I am new to the site and would just like to add my voice too:
Thank you so much, poundwise, for creating this list and keeping it updated. It is a great reference to be able to check all of the rates at one place. |
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Agreed. All my cash is in a local bank now with a high-yield checking account. I left HSBC and even my beloved GMAC months ago.
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I think online banks still, generally, have better rates than regular banks. It's discouraging, although in my case, the rates I'm getting at ING and HSBC are better than my regular bank (Bank of America). Sometimes, even the larger banks will have incentives or different accounts you can put your money in that will earn at least more than their standard savings accounts.
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Sweeps, I'm with you. I have a fixed rate for 6 months at my bank and it is beating most of the banks out there. I still have money in FNBO and I know after March that my banks special rate will end and FNBO might not look so bad then. I think that most of these banks will lower interest rates. The only alternative is a CD. A couple of months ago I took advantage of FNBO's CD rate which was at 5.10/5.25APY 9 month rate. I also got anothe CD with Washington Mutual for 7 months for 4.98/5.10APY with an add on rate until then. Other than that, the banks are going to lower their rates. I'm just trying to minimize the number of institutions that I currently am dealing with.
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Wamu just dropped to 4.25 (sigh).
Online banks should, on average, be better. I guess I'm finding specials at the local/community banks that seem to be bettering the onlines. But, they're special offer deals, not regular offerings. |
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So far, all the c.d.'s I am getting are paying 4.8 or better. I am getting these locally.
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Washington Mutual was a local bank for me and they were running a special promotional offer . I got it on the 22nd. I was actually anticipating the fact that the fed will probably lower the rates again this week. I do believe that it's best to call to see if there are any special rates and an in person visit helps alot to.
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Vanguard just dropped their money market rate down to 4.36%
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Vanguard is still higher than some. I just opened up a TD Ameritrade by Suze Orman that will give you $100. at the end of 12 months by depositing $50. a month for 12 months. The application went quite smooth. They are paying 3.56 right now for a Money Market Deposit Account that is FDIC insured. I have been putting this off for a while now and glad that I finally opened it.
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