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01-26-2009, 09:37 AM
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$ Saving Sixth Grader
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Join Date: Jul 2008
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CNB is down to 3.4%.
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01-27-2009, 06:03 PM
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$ Saving HS Freshman
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Location: Laona, WI
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I would imagine that ING will be lowering their rate again soon. Their new CD rates have the 6 and 9 month rates quite a bit lower than the current orange savings rate.
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01-27-2009, 08:06 PM
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$ Saving College Junior
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Location: FL Panhandle
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Quote:
Originally Posted by cooliemae
I would imagine that ING will be lowering their rate again soon. Their new CD rates have the 6 and 9 month rates quite a bit lower than the current orange savings rate.
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Don't curse it!  They already brought it down last week to 2.4%....
However, the issue with low-yielding CDs is causing me to temporarily stop my CD ladder... I use 6-mo CDs, and when those are yielding nearly a full point LESS than a regular savings account is offering, there's no purpose in it. I'll just wait until they pick up again, and restart my ladder.
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"Praestantia per minuti" ... "Acta non verba"
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01-28-2009, 03:54 AM
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$ Saving Jr. High Schooler
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Join Date: Jan 2008
Location: Metro DC
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Quote:
Originally Posted by cooliemae
I would imagine that ING will be lowering their rate again soon. Their new CD rates have the 6 and 9 month rates quite a bit lower than the current orange savings rate.
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I've seen this w/ my bank also, presidential (Recently de-listed from this string's list of banks). I wonder if this is also some sort of signal, like an inverted yield curve, that a bank is not doing well as its customary to pay a premium to lock your money up for a fixed duration of time in a CD verses keeping it liquid in a regular savings account.
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01-28-2009, 07:35 AM
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$ Saving Jr. High Schooler
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Location: Metro DC
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Chesapeake Bank, the current online bank market leader for rates, is listed by bankrate.com on their safe & soundness rating system as "sound" with four stars. I am in Northern Virginia and have a friend who lives in Williamsburg, VA and he plans on checking into them down there. I plan on switching soon, they also have decent interest rates on their checking (2.5 - 3.25 APY depending upon your balance w/ 1-10k at 2.5% APY, 10-25k at 2.75 % APY & 25k+ at 3.25 % APY.
Here is their homepage: Chesapeake Bank
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01-28-2009, 07:41 AM
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Debt Freedom Fighter
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Join Date: May 2006
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Chesapeake Bank's standard savings rates are dreadful. What you want is their Clear Sky Savings offering, which is what presently appears at the top of the listing here.
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"Debt is the slavery of the free." ~ Publilius Syrus
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01-28-2009, 07:45 AM
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$ Saving Jr. High Schooler
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Quote:
Originally Posted by poundwise
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Agreed, I posted the link for info purposes only. My previous post was referring to their "clear sky checking" rates. They are on the clear sky website at: Checking - CLEAR SKY ACCOUNTS: Brought to you by Chesapeake Bank
I apologize for any confusion, I personally do not put my money in any internet back w/o first doing research on them to make sure they are legit.
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01-28-2009, 08:05 AM
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Debt Freedom Fighter
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I understood but was concerned that the link to the B&M bank site could have been misleading. Clear Sky Accounts are certainly offered by Chesapeake Bank, however, there are two different sites.
Most online banks have B&M institutions behind them and most offer very standard products and rates as a B&M bank, only offering the higher APY with their online accounts.
In this case, if people want to check out the bank behind the account offering, then they can visit the Chesapeake Bank site.
If people want info about the online high yield savings and/or the online checking referred to by weissheit, they should visit the Clear Sky Account site.
__________________
"Debt is the slavery of the free." ~ Publilius Syrus
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01-29-2009, 11:24 AM
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$ Saving Sixth Grader
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Join Date: Jul 2008
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I checked with Chesapeake and they say you can only transfer 10k out of your account per day. If that's an issue to anyone....
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01-29-2009, 07:26 PM
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$ Saving Jr. High Schooler
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Join Date: Jan 2008
Location: Metro DC
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HSBCdirect down to 2.45% APY
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01-30-2009, 07:25 AM
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$ Saving College Sophomore
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Provident-direct down to 2.82% APY
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01-30-2009, 08:21 AM
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Debt Freedom Fighter
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Join Date: May 2006
Posts: 2,149
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UPDATES TODAY 1/30
Big APY drop:
Umbrella Bank down from 2.60 to 2.00 (.60)
Other moves downward:
CNB Bank Direct from 3.50 to 3.40 (.10)
Century Bank Savings from 3.26 to 3.04 (.22)
Provident Direct from 3.25 to 2.82 (.43)
Century Bank Money Market from 3.09 to 2.82 (.27)
HSBC down from 2.60 to 2.25 (.35)
IndyMac down from 2.60 to 2.25 (.35)
Citi down from 2.50 to 2.40 (.10)
Capital One Money Market from 2.10 to 2.00 (.10)
Note:
AARP down from 2.00 to 1.75 (.25) and off the list
__________________
"Debt is the slavery of the free." ~ Publilius Syrus
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02-02-2009, 11:29 AM
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Asl of Feb 2, 2009, FNBO DIRECT new rate is 2.57 APR with 2.60 APY. Down from 2.80
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02-02-2009, 11:33 AM
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Doral Bank bucks the trend. Up to 3.50% APY
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“May you have warm words on a cold evening, a full moon on a dark night, and a road downhill all the way to your door.” - Irish Blessing
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02-02-2009, 04:37 PM
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$ Saving Jr. High Schooler
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Join Date: Jan 2008
Location: Metro DC
Posts: 84
Points: 460.00
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Chesapeake Bank's Clear Sky Savings account down to 3.15% APY
Clear Sky checking rate structure currently still intact (2.5 - 3.25 APY depending upon your balance w/ 1-10k at 2.5% APY, 10-25k at 2.75 % APY & 25k+ at 3.25 % APY).
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02-02-2009, 11:46 PM
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$ Saving HS Freshman
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Join Date: Apr 2008
Location: Laona, WI
Posts: 132
Points: 780.00
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ING Orange Savings down to 2.2% APY
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02-05-2009, 08:25 AM
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$ Saving Jr. College Student
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Join Date: Nov 2005
Posts: 372
Points: 3110.00
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E*Trade Savings is down to 2.50% APY.
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02-05-2009, 11:40 AM
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$ Saving College Sophomore
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Dang, Dollarsavingsdirect down to 3.20%.
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02-05-2009, 12:59 PM
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Debt Freedom Fighter
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Join Date: May 2006
Posts: 2,149
Points: 15030.20
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As accompaniment and to set the mood listen to this and, in the chorus, substitute "rates" for "tears."
UPDATES TODAY 2/5
Big APY drops:
ClearSky Savings down from 3.75 to 3.15 (.60)
E*TRADE down from 3.01 to 2.50 (.51)
Bank of Internet Money Market down from 2.90 to 2.00 (.90)
Venture Bank Direct down from 3.30 to 2.48 (.82)
Other moves downward:
Bank of Internet High Yield Savings down from 3.51 to 3.10 (.41)
Dollar Savings Direct down from 3.50 to 3.20 (.30)
SavingsSquare down from 3.30 to 2.90 (.40)
Alliant down from 3.25 to 3.00 (.25)
FNBO Direct down from 2.80 to 2.60 (.20)
Amboy down from 2.53 to 2.27 (.26)
ING Direct down from 2.40 to 2.20 (.20)
Big APY raise:
Doral Bank from 2.25 to 3.50 +1.25
Another move upward:
HSBC Direct from 2.25 to 2.45 +.20
Note:
Umbrella Savings down from 2.00 to 1.60 (.40) and off the list
VIEW THE COMPLETE LIST SORTED BY CURRENT APY
__________________
"Debt is the slavery of the free." ~ Publilius Syrus
Last edited by poundwise : 02-06-2009 at 10:01 PM.
Reason: Typo
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02-06-2009, 02:46 PM
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$ Saving Sixth Grader
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Join Date: Jul 2008
Posts: 57
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Quote:
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Dang, Dollarsavingsdirect down to 3.20
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Maybe they've found this site and are saying to themselves, we just need to be top-3 on the list....
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