Online Savings Accounts & Current Rates

[Aleta]

GMAC online savings now 3.25%
" online money market 2.75%
" online CD - 1 year 3.50%

[poundwise]

Originally Posted by Aleta

GMAC online savings now 3.25%
online money market 2.75%

Yes, that is how those accounts are presently listed.

[Aleta]

Sorry Pundwise.

The rates are now:
GMAC Online savings: 3.00%
" Online Money Market 2.50
" Online CD 1 year 3.50

[poundwise]

Ok, I've made those changes:

GMAC Online Savings down from 3.25 to 3.00
GMAC Money Market down from 2.75 to 2.50


Note: GMAC Online Savings main page still reads 3.25% as of this moment, however, if you click on 'Today's Rates,' that page shows that the current yield is 3.00%.

[scfr]

Amegy's down to 2.40% APY

[saverbootay]

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....

[poundwise]

UPDATES TODAY 1/17

APY moves downward
Flagstar down from 3.55 to 3.00 (.25)
Venture down from 3.50 to 3.30 (.20)
Union FSB down from 3.30 to 3.10 (.20)
Amboy down from 2.79 to 2.53 (.26)
Amegy down from 2.50 to 2.40 (.10)

Big APY drops
OnBank down from 2.60 to 1.90 (.70) and off the list
M&T down from 2.25 to 1.75 (.50) and off the list

[weissheit]

Originally Posted by saverbootay

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]

Originally Posted by sweeps

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]

Originally Posted by falcon2006

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]

Originally Posted by sweeps

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]

Originally Posted by falcon2006

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.