I need a new savings account

[ChaoZ]

Recommendations?

 

[beer]

Fed lowers interest rate -> bank lowers interest rate.

I think it's fairly universal.....

 

[ChaoZ]

But 3%?

 

[GhettoFob]

Hmm, I thought it was 3.3% a few days ago. Looks like ING is still at 3.1%, wonder if that'll drop as well.

 

[MSCoder610]

I'm using Countrywide right now - despite Countrywide's troubles lately, it's FDIC insured and everything.

There's a stickied thread at FW for liquid accounts & their rates.

 

[aceO07]

Wamu is 4%

 

[amdskip]

Everyone is going to drop. If you were not aware of this you should really pay a little more attention to the current state of the economy.

 

[Kalvin00]

Originally posted by: ChaoZ
But 3%?

Yes, 3%.

You're losing money all the while to inflation. Feels nice, doesn't it?

 

[IEC]

Savings accounts are overrated.

 

[Farang]

Hmmm mine has been 0.5 for a while, maybe I should look into that. Then again I have no money, so..

 

[Bateluer]

Originally posted by: aceO07
Wamu is 4%

WaMu CDs likely, not their standard savings accounts.

 

[Special K]

Here's a good list:

link

But like everyone else said, the savings account rates tend to follow the Fed's actions. After today's 75 bps cut, it might be difficult, if not impossible, to find a savings account paying more than 3%.

 

[ChaoZ]

Originally posted by: aceO07
Wamu is 4%

Looks like I need to open it with a checking account.

 

[OrganizedChaos]

Originally posted by: Bateluer

Originally posted by: aceO07
Wamu is 4%

WaMu CDs likely, not their standard savings accounts.

Balance Tiers Interest Rate Annual Percentage Yield (APY) Interest Rate APY
$0 - $9,999 3.93% 4.00% 0.25% 0.25%
$10,000 + 3.93% 4.00% 0.25% 0.25%

Rates effective 03/19/2008

still 4.00% as of today

 

[FoBoT]

rates will continue to drop as the economy continues its downward spiral into the depths of hell

why save your money anyway? buy guns/ammo/food

 

[Capt Caveman]

Originally posted by: ChaoZ
Recommendations?

For the small amount of money you have, a difference in 1% is only going to be pennies. :laugh: