Savings Rate Wiki – Complete Overhaul
Posted 23 January 2009 by Mr. BI just performed a complete overhaul of the savings rate wiki. It was in dire need of an update, and bank rates have been dropping so frequently that almost every existing rate changed. Wow.
Some highlights
Dollar Savings Direct is no longer 4.00%. Oh how far the mighty has fallen! It is now down to 3.5% – disappointing, but still competitive. It’s currently tied with CNB Bank Direct.
Sixteen accounts currently have rates of 3.00% APY or higher. While this is a pitiful rate-chasing environment, consider switching to one of those accounts if you earn less than 3% right now.
I’m impressed that my E*Trade Complete Savings account is still above 3.00%. E*Trade has never been fiercely competitive with their savings account, but it has been solid. I pray it will stay above that crucial 3% line. Anything below is demoralizing.
Broadway Federal Anniversary Savings still claims the lead with 4.08%, though I wonder if some of the hassles I’ve read about make it worth the attempt to open the account. If anyone has done so, I’d love to hear some feedback on the account opening process and general usage.
WaMu JPMorgan Chase continues to disappoint with their abysmal, moronic, insulting, bottom-feeding ONE PERCENT rate. I have a grand total of $1 in that account, and that’s probably too generous of me. Sheesh.
Overall, it’s a bad environment for savers. Actually, it’s just a bad environment. I’m still hoping for a bright 2009, but with the DOW already breaking through 8,000, it’s hard to stay hopeful.
Good luck everyone.
