MoneyRates Blog
Online Bank Rate Deals for 2008
The last few hours of 2007 are dwindling away, but online banks continue to offer their rate specials on credit cards and deposits in order to find new customers. The deals today include:
Credit card purchase cards as low as 7.99% APRCredit card balance transfer cards with 0.00% for six months on transfersCountrywide Bank 5.30% APY [...]
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Home Equity Loans vs Home Equity Lines of Credit
The quality lending site LendingTree.com has published an informative article on the difference between Home Equity Loans and a Home Equity Line of Credit. If you’re a homeowner, you can borrow against the value of your house through either a home equity line of credit (often called a HELOC or a line) or a [...]
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Money-Rates.com Posting Bank Deposit Rates over 5.50% APY
Look’s like at least a few banks still need a little spending at the end-of-the-year. Despite a Federal Funds Rate at 4.25% and falling the following rate specials are listed at money-rates.com:
5.75% APY at KeyDirect on a 10-year CD with a minimum deposit of $50,0005.51% APY at EverBank as an introductory APY on their money [...]
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Banks with Special Offers on Savings, Money Markets, Checking, and CDs
As the end of 2007 approaches the menu for online bank deals remains as attractive as ever. In fact, there is a little something for everyone as more and more specialty banks emerge. FDIC-insured banks like Banco Fortuna (spanish site offering 5.05% APY on savings account) and Bank of Internet (special rates for senior citizens) [...]
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Guaranteed Rate Offers from Online Banks
We receive a fair share of comments at The Savings Investor regarding the promotional-rate money market accounts which many banks are offering. These type of accounts, which are typically only available to new banking customers, will guarantee a rate for a pre-set number of days. Everbank and AmTrust Direct are offering these promotional-rate money markets [...]
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Online Bank Deals including iPods, Cash, and Airline Miles
Online banks are in giving mood this holiday season with a wide variety of free giveaways. The list below is online bank offers. Restrictions and requirements may apply so please contact each individual banks for more details. Investors looking for deposit rate specials can +6.00% rates on Rewards Checking accounts and +5.00% rates on CDs, [...]
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Inflation and the Series I Savings Bond
The Treasury Department has had a Savings Bond program since 1935 to raise funds for the U.S. Government. With the backing of the government implicit these bonds considered among the safest investments in the world. They have not drawn a great deal of attention from investors due to the rates paid on them, which is [...]
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Online Bank Deals Just Got More Attractive (compared to US Treasuries)
On the face of it a rate cut by the Federal Reserve along with signals that the Fed will cut some more in 2008 would appear to be devastating news to investors accustomed to finding great rates from online banks. However, there appears to be enough competition and thirst for deposits by online banks to [...]
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Not All Bank Stocks are Subprime Bank Stock Disasters
The news has been full of stories regarding the debacles of banks which dealt heavily in the subprime lending markets. Notably, the stocks of Countrywide Financial (-67.9% YTD), IndyMac Bancorp (-79.4% YTD), and Washington Mutual (-51.8% YTD) have garnered a lot of attention. While these stocks may be attractive to speculators who basement hunting, there [...]
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KeyDirect Offering +5.25% on Long Term CD Rates
KeyDirect offers great interest rates directly to consumers and businesses in 37 states and the District of Columbia but not AK, CO, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, or WA. Key is currently offering the following rates on their longer term certificates of deposit’5 year CD - 5.26% APY7 year CD [...]
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Not all Economists think the Fed Should Lower Rates
The Bank of England lowered its key interest rate by a quarter-point to 5.50 percent today marking their first rate cut in more than two years. The Bank of England stated that “Although output in the United Kingdom has expanded at a brisk pace for the past two years, there are now signs that [...]
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Rates on Health Savings Accounts
A Heath Savings Account (HSA) are viewed as a tool to pay for healthcare expenses pre-tax and lower healthcare premiums. An overlooked component of these accounts is the investment returns that the accounts generate. A typical bank HSA account yields less than comparable bank deposit products so consumers should be careful to question the current [...]
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U.S. Treasury Yields Fall Again
U.S. Treasury yields are lower this week across the board from 3-month T-Bills to 10-year T-Bonds. Yields below 3% are now the rule (except for a bump in the yield curve at 6-months where the yield jumps over 3.10%) for all the U.S. Treasuries with maturities 5 years and less.
The Federal Reserve meets next week [...]
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5.50% APY on a Patriot Bank (Texas) Savings Account
Patriot Bank, a regional Texas bank, is offering a 5.50% APY on savings accounts opened with a minimum of $100. A visit to one of the Texas branches is required to earn the stated APY.
More FDIC-insured savings account yields here.
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Social Lending Back in the News
Social lending has been around for a couple of years now, but is back in the news with the launch of Zopa US this week. Typically, social lending or peer-to-peer lending has allowed borrowers to receive loans directly from other people and not banks or financial institutions. A reduction in loan fees and rates paid [...]
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