MoneyRates Blog
E*Trade Bank Remains Aggressive with Online Bank Deals
E*Trade Financial Corp. received an infusion of $2.55 billion from outside investors while selling off a small portion of their riskiest debt. The move has been viewed by analysts as an indication that E*Trade may be able to return to a financially secure position without a merger or buyout. E*Trade Financial, which owns both the [...]
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6.00% Yields at FDIC-insured Banks
A new product offered by banks across the country is a Rewards Checking Account which pays yields as high as 6.01% on interest checking account balances if certain requirements are met. Typically the requirements are a combination of receiving statements electronically, using a check or debit card, and using ACH, auto-debit, or direct deposit on [...]
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Treasury Inflation-Protected Securities
Tips on Buying Treasury Inflation Protected Securities (TIPS)
The Treasury Department issues a security called Treasury Inflation-Protected Securities (TIPS) which pay investors a fixed rate of interest set at auction and adjusts principal semi-annually based on the change in the Consumer Price Index for the preceding six months. The U.S. Treasury offers auctions on TIPS quarterly [...]
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The 4 Online Bank Stalwarts: VirtualBank, Capital One Bank, First Internet Bank, and Bank of Internet
One of the biggest questions asked about online banks and the deposit deals they offer is whether or not they will continue to offer competitive deposit rates or will new customers who open a promotional checking account, savings account, money market account, or CD find their rates lower in the future. The annoyance and cost [...]
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Mutual Fund Companies Bail out their Money Market Funds
Major companies like Bank of America Corp, Legg Mason, Inc., SunTrust Banks Inc., and Citigroup Inc. are reported to have been forced to invest funds into their own money market funds to prop up the net asset value at a stable $1 after incurring losses in a complex financial instrument called SIVs or Structured Investment [...]
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Buying a Money Market Fund
The financial headlines have been full of stories about the trouble experienced by a number of money funds. Large companies like Bank of America Corp. and Legg Mason Inc. among others have been forced to infuse their money market funds with money to cover for losses and prevent having to “break the buck” and allow [...]
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Online Bank Deals
November has been a month of widespread lowering of rates by banks and lenders on their loan and deposit products. A quick summary of where some of the best online bank deals can be found:
Savings Accounts - UFB Direct 5.31%, complete list
Rewards Checking Accounts - 6.01% on balances up to $25,000 from numerous banks on [...]
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Interest Rates 2008
The Federal Reserve has lowered their benchmark interest rates 75 points in 2007 while publicly stating it remains inflation-vigilant. The futures market, where contracts are traded based on the future value of the Federal Funds Rate, is currently discounting in another 75 ppint rate cut between now and the summer of 2008. Online banks who [...]
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Time to Convert the Home Equity Line?
Rate shoppers who are looking to convert their home equity loans to a fixed-rate second mortgages have been disappointed with the rate quotes and fees associated with a second mortgage. In many cases, homeowners have stopped shopping for the second mortgage and been happy to maintain a line of credit in order to have the [...]
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Online Bank Deals - November 8, 2007
LaSalle Bank is offering a $100 bonus to customer who open both a checking account and a savings account and use a new LaSalle Money Card debit card.
Wells Fargo Bank is offering a $50 bonus to new customer who open a free checking account with a minimum deposit of $100. No direct deposit requirement or [...]
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Online Checking Report
Money-rates.com researched the rates paid on an online basic checking account from the nation’s largest banks to compare to the rates posted on the money-rates.comn checking rates page. The results were more than surprising. While online banks are posting rates as high as 6.00% on accounts which require direct deposit or have deposit limits, it [...]
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Treasury Department Updates Savings Bond Rates
The Bureau of the Public Debt today announced an earnings rate of 4.28% for Series I Savings Bonds, and a fixed rate of 3.00% for Series EE bonds, issued from November 2007 through April 2008. Earnings rates for I bonds and fixed rates for EE bonds are set each November 1 and May 1. Interest [...]
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Online Bank Rate Update: November 1, 2007
Bank Rate Specials [CDs, money markets, checking, and savings]
10.00% APY from Wauwatosa Savings Bank on the first $1,000 of a new checking account balance. Rate guaranteed until April 1, 2008
10.00% APY from Affinity Bank on their savings account for kids only (applies to balances up to $500 and only California residents are eligible).
6.25% APY from [...]
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