MoneyRates Blog
Online Savings Rates Still Competitive
By MoneyRates team | Money-Rates Columnist
The Federal Reserve’s move this week to move the Fed Funds rate down 50 points from 1.50% to 1.00% has sparked widespread movements amongst banks to lower their own deposit rates, except for those banks at the top of the leaderboard who have for the most part kept rates steady. Listed below the best rates [...]
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Highest Rates on Bank Savings Accounts Unchanged After Fed Rate Cut
By MoneyRates team | Money-Rates Columnist
The Federal Reserve lowered short-term interest rates a half-point this week in a move that typically precipitates a corresponding lowering by banks of their own savings rates. But, as of today the list of the nation’s best savings rates is largely unchanged with a few banks even raising rates late in the week. Banks offering [...]
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Rate Update: Mortgages, Home Equity Loans, Money Markets, Checking, Savings, CDs, and Reward Checking
By MoneyRates team | Money-Rates Columnist
Mortgage Rates
A bad week for the homebuyers looking to lock-in 15-year and 30-year rates as economic reports drove up rates on fixed-rate mortgages. Freddie Mac reported that the nation’s average 30-year fixed-rate mortgage increased all the way to 6.42%. Analysts are forecasting higher rates continuing at least through the summer. The best news for the [...]
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Bank of America’s Excellent Savings Program
By MoneyRates team | Money-Rates Columnist
Bank of America’s Keep the Change Promotion has been around since 2005, but is worth taking another look at especially after Bank of America has announced that over 8 million customers are enrolled in the program. The promotion allows customer enrolled to have every purchase made with a Bank of America Check Card to be [...]
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Savings News: E*Trade Bank Increases Rate, Money-Rates.com Posting over 30 Banks with +3% Savings Yields
By MoneyRates team | Money-Rates Columnist
Effective this Thursday (May 8, 2008) E*Trade Bank will increase their savings rate from 3.01% to 3.05%. Seemingly not a big news item, but coming less than a week after the Federal Reserve lowered short-term interest rates this is another indication that the top-tier savings rates offered by online banks on savings accounts, money market [...]
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Savings Rates Can Still Beat Inflation
By MoneyRates team | Money-Rates Columnist
Many financial analysts have been stating in recent news stories and interviews on CNBC that in today’s economy consumers cannot keep up with inflation by keeping their money in savings accounts. The typical quote refers to savings rates below 2% and inflation rates of 4% or higher -at which point a consumer would be effectively [...]
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Simple Savings Account from SavingsSquare Yielding 3.50%
By MoneyRates team | Money-Rates Columnist
Like many traditional brick-and-mortar banks Kirkpatrick Bank has an online alter-ego in Savingssquare.com which is the online division of the FDIC-insured Oklahoma-based bank. The Savings Square site is as simplistic and easy-to-navigate as one can find in online banking. The one and only product promoted on the site is the Square Savings Account which is [...]
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Doing the Math with Wachovia Bank’s Way2Save Program
By MoneyRates team | Money-Rates Columnist
Wachovia Bank is offering the Way2Save Programs as as savings incentive-rich program to attract savings customers. The program links your Wachovia Bank checking account to a Way2Save account and rewards the account with:
$1 for each check card purchase and online bill payment5% annual percentage yield on the balance5% bonus in Year 1 for amount transferred [...]
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Online Banks Deals that Beat Your Local Bank Rates
By MoneyRates team | Money-Rates Columnist
Chances are your local bank has taken note that the Federal Funds rate is at 2.25% and that Treasury Bills are below 2.00%. Even more likely is that the bank has lowered their deposit rates on your checking or savings account accordingly. Fortunate for savings investors there are a number of online banks willing to [...]
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Online Bank and Credit Union Rate Deals
By MoneyRates team | Money-Rates Columnist
Online banks and credit unions are offering deals with with good rates including specials between 3.60% APY and 10.00% APY for online investors. Listed below are some of these Credit Union and Bank rate deals available today. Each deal has it’s own restrictions and limitations including balance requirements and geographic requierements. Check with the issuing [...]
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Online Bank Rate Update: November 1, 2007
By MoneyRates team | Money-Rates Columnist
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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Online Bank Deposit Deal Summary
By MoneyRates team | Money-Rates Columnist
The highest yields on FDIC-insured bank deposits are listed below:
Checking Accounts
6.01% APY Everbank.com
5.11% APY Corus Bank
5.10% APY Salem Five Direct
Savings Accounts
5.58% APY Countrywide Bank
5.36% APY AmTrustDirect
5.35% APY Umbrella Bank
Money Market Accounts
6.01% APY Everbank.com
5.56% APY Zions Bank
5.40% APY Evergreen Private Bank
Certificates of Deposit
90-day CD - 5.65% APY IndyMac Bank
90-day CD - 5.50% APY Countrywide Bank
8-month CD [...]
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Principal Bank Money Market and Savings Account Rates
By MoneyRates team | Money-Rates Columnist
Principal Bank has not lowered their deposit rates on money market savings account and regular savings account which has in effect made their rates among the most competitive in the nation
Principal Bank Money Market Accounts$50,000 to $99,999.99 5.03% rate / 5.15% APY
$100,000 to $249,999.99 5.08% rate / 5.20% APY
$250,000 and over 5.13% rate [...]
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Umbrella Bank’s 5.83% Green Day Savings Account Rate
By MoneyRates team | Money-Rates Columnist
Umbrella Bank is a division of New South Federal Savings Bank (FDIC#32276) a $1.4 billion bank based in Alabama. Umbrella Bank has been a consistent leader in offering deposit rates on money markets, savings accounts, and short-term CDs to online investors for over 5 years. Umbrella Bank has a 90-day introductory rate of 5.83% on [...]
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