Emigrant Direct Up'd its rate to 4.25%

[gavinmccallister]

Re: Emigrant Direct Up'd its rate to 4.25%

I have been waiting for Emigrant to raise their rates I was getting tired of calling them asking them what was up with the low rates.

[Kirby]

Re: Emigrant Direct just raised its rate to 4.25%

The conventional wisdom is that the rate wars will probably end soon. I'd be surprised if anyone jumps abve 4.25% as their regular savings rate anytime soon. Either way, 4.25% isn't too shabby, is it?

[Mixelflick]

Re: Emigrant Direct Up'd its rate to 4.25%

"A bank -- let's say, ED -- has a base APY of 4.25%. But it will also offer another .25% bonus on your average balance over the previous 6 or 12 months. So people who keep money in the bank for longer would earn closer to 4.5%."

- Sweepsplayer


This is an EXCELLENT idea and makes a lot of sense to me. I have only recently moved into HSBC, and something like this would go a long way toward keeping me there in the face of all of these promotional offers at ING, etc..

[coffeebreak]

Re: Emigrant Direct just raised its rate to 4.25%

The conventional wisdom is that the rate wars will probably end soon. I'd be surprised if anyone jumps abve 4.25% as their regular savings rate anytime soon. Either way, 4.25% isn't too shabby, is it?

Many of the top savings banks are following the fed rate, so if it goes up the rate offered by banks like ED, ING and HSBC will go up also. If there are inflation pressures, the fed usually raises rates.

Here's a link to the fed:

http://www.federalreserve.gov/fomc/fundsrate.htm

It was as high as 8.0% back in 1990. During the Carter years, it was even higher.

[Mixelflick]

Re: Emigrant Direct Up'd its rate to 4.25%

I wonder if this holds true for "foreign" banks like HSBC vs. Emigrant, for example.

[pyotr]

Re: Emigrant Direct Up'd its rate to 4.25%

As a loyal INGdirect customer with a large sum in their Orange savings, I think this totally sucks. I would have been treated better if I were a rate wh*re chasing HSBC or Zion or whomever. INGdirect has yet to even send me one of their nifty branded gifts. I even e-mailed them threatening to move my money elsewhere and they replied with a cool even-handed politically-correct e-mail. Maddening.

But it's like being in love with a beautiful woman who treats you wrong all the time. I can't seem to leave INGdirect because she is so beautiful.

[BTC]

Re: Emigrant Direct Up'd its rate to 4.25%

As a loyal INGdirect customer with a large sum in their Orange savings, I think this totally sucks. I would have been treated better if I were a rate wh*re chasing HSBC or Zion or whomever. INGdirect has yet to even send me one of their nifty branded gifts. I even e-mailed them threatening to move my money elsewhere and they replied with a cool even-handed politically-correct e-mail. Maddening.

But it's like being in love with a beautiful woman who treats you wrong all the time. I can't seem to leave INGdirect because she is so beautiful.

Keep emailing them. Supposedly, they like that.

[coffeebreak]

Re: Emigrant Direct Up'd its rate to 4.25%

As a loyal INGdirect customer with a large sum in their Orange savings, I think this totally sucks. I would have been treated better if I were a rate wh*re chasing HSBC or Zion or whomever. INGdirect has yet to even send me one of their nifty branded gifts. I even e-mailed them threatening to move my money elsewhere and they replied with a cool even-handed politically-correct e-mail. Maddening.

But it's like being in love with a beautiful woman who treats you wrong all the time. I can't seem to leave INGdirect because she is so beautiful.

If you don't need to have all your money available quickly, you can buy CDs with ING; 9 Months will get you 4.20% and 1 year is 4.35%. The minimum requirement is still only $1.00.

http://home.ingdirect.com/products/products.asp?s=OrangeCD

Emigrant doesn't have CDs so I keep quick cash with ED (ING during the 4.75% period) and buy CDs from ING.