Bankers versus Savers

You probably did not see it mentioned in your local newspaper, but the American Bankers Association (ABA) made news last week when in a letter addressed to the FDIC they publicly chastised Ally Bank. The problem? Ally Bank has been offering deposit rates that are too high in comparision to the rest of the banks in the country. That [...]

Black Swans and Savings Rates

Sometimes scientists are confounded. Take the black swans for example. When they were discovered in Western Australia it was considered an impossibility. One day there was no such thing as black swans and the next day there they were. Today the term ”black swans” refers to major unpredicted events. September 11, 2001 is an example. Although the events leading up [...]

A New Type of Savings Account with Higher Rates

How come some of the best ideas arrive at the worst time? Disciplined savings programs, called installment savings accounts, could have saved the day for many Americans who have now lost meaningful savings they had designated for college, a vacation, a wedding, or another family event. Instead, we are just now hearing about these nifty savings programs. [...]

Rates on U.S. Savings Bonds Set to Go Down

The Treasury Department is scheduled to reset rates on the Series EE Savings Bond and the Series I Inflation Bond on May 1. It is safe to say that the new rates are not likely to generate a lot of interest from rate-savvy investors. That’s because short-term interest rates and inflation are low right now, which [...]

Do You Deserve More For Your CD?

Almost $130 billion has been paid out to financial managers in the past few years, money that savers and investors didn’t get.

Money-Rates.com Twitter Updates Available

Money-Rates.com is now posting Twitter updates at Twitter.com for people interested in keeping track of the latest up-to-the-minute bank deals. The easiest way to keep track of the updates is to open an account at Twitter - a process that takes less than five minutes.

Twitter Updates

Treasury Department Releases New Rates on Series I and Series EE Savings Bonds

The Treasury Department has released the new semi-annual rate adjustments on their Series I inflation bonds and the fixed-rate Series EE bonds. The Series I bond, which pays a fixed component and an inflation-indexed component, is set to pay an earnings rate of 5.64% for the next six months and purchasers of the Series EE [...]

Bank of America’s Excellent Savings Program

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 [...]

Savings News: E*Trade Bank Increases Rate, Money-Rates.com Posting over 30 Banks with +3% Savings Yields

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 [...]

Savings Rates Can Still Beat Inflation

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 [...]

SAVINGS RATES UPDATE

Today’s bank rate offerings include New Dominion Bank which is offering variable rate CDs with an interest rate tied to the Wall Street Journal prime rate. The bank will adjust the rate on the CDs as the prime rate increases or decreases. Current rates are 1-year (5.50% APY), 18-month (5.55% APY), 2-year (5.60% APY), and [...]