Weird, I have different interest rates..

[imported_goku]

I have two completely separate bank accounts both savings accounts and I was looking at the interest rate and noticed that the interest rate on one of them is higher, they're both from the same bank so I can't figure out as to why this would be so. One is 0.65% and the other is 0.50%... While they do have different amounts of money in them, they should techincally have the same rate, just different amounts in return..

 

[darkxshade]

Choose a new bank

 

[montag451]

Ask them?

 

[Drakkon]

one opened longer than the other?

 

[Engineer]

Is that 6.5% and 5.0%? If so, both are very good rates. How much money and at what bank?

 

[imported_goku]

Yea, the account that has been open since probably 1994/5 has the lower rate than the one I just opened earlier this year...

 

[sswingle]

Banks are always changing rates, and with savings accounts, you usually get locked onto the rate it is at when you sign up for the account.

 

[monk3y]

What bank are you with? I want those rates.

 

[Engineer]

Originally posted by: monk3y
What bank are you with? I want those rates.

So do I!

Oh, and to you sig...the Gators suck!

 

[bsobel]

Originally posted by: Engineer
Is that 6.5% and 5.0%? If so, both are very good rates. How much money and at what bank?

I suspect he posted the correct rates...

 

[Engineer]

Originally posted by: bsobel

Originally posted by: Engineer
Is that 6.5% and 5.0%? If so, both are very good rates. How much money and at what bank?

I suspect he posted the correct rates...

I'm assuming some sort of Money Market accounts with semi-large amounts of money to earn rates like that. I haven't even seen Online CD's at that rate yet (haven't looked in about a month or so - might be behind).

 

[DaveSimmons]

You really need to move the money to INGDirect.com to earn 3.75% (or Emigrant for 4%).

 

[sswingle]

Originally posted by: monk3y
What bank are you with? I want those rates.

Eh? Whats so good about those rates? My checking gives 0.3% and my savings account gives 1.0%

Or did everyone's reading comprehension go downhill again and they are reading those percents wrong.

 

[monk3y]

Originally posted by: ScottSwingleComputers

Originally posted by: monk3y
What bank are you with? I want those rates.

Eh? Whats so good about those rates? My checking gives 0.3% and my savings account gives 1.0%

Or did everyone's reading comprehension go downhill again and they are reading those percents wrong.

I was thinking he typed the % by mistake... I mean a .065% rate is REALLY low for a savings account.

 

[Engineer]

Originally posted by: ScottSwingleComputers

Originally posted by: monk3y
What bank are you with? I want those rates.

Eh? Whats so good about those rates? My checking gives 0.3% and my savings account gives 1.0%

Or did everyone's reading comprehension go downhill again and they are reading those percents wrong.

Hence why I asked about percentages above. Either those are:

6.5% and 5.0%....or they are the worst interst rates in history at "almost" less than 1/10th of a percent?

 

[imported_Tick]

Originally posted by: Engineer

Originally posted by: ScottSwingleComputers

Originally posted by: monk3y
What bank are you with? I want those rates.

Eh? Whats so good about those rates? My checking gives 0.3% and my savings account gives 1.0%

Or did everyone's reading comprehension go downhill again and they are reading those percents wrong.

Hence why I asked about percentages above. Either those are:

6.5% and 5.0%....or they are the worst interst rates in history at "almost" less than 1/10th of a percent?

What if it was monthly compounded?

 

[Engineer]

Originally posted by: Tick

Originally posted by: Engineer

Originally posted by: ScottSwingleComputers

Originally posted by: monk3y
What bank are you with? I want those rates.

Eh? Whats so good about those rates? My checking gives 0.3% and my savings account gives 1.0%

Or did everyone's reading comprehension go downhill again and they are reading those percents wrong.

Hence why I asked about percentages above. Either those are:

6.5% and 5.0%....or they are the worst interst rates in history at "almost" less than 1/10th of a percent?

What if it was monthly compounded?

It would still be an anemic 1.26% per year for the .065% account. (1.065^12 - 1.00 )

 

[Syringer]

Originally posted by: Engineer

Originally posted by: Tick

Originally posted by: Engineer

Originally posted by: ScottSwingleComputers

Originally posted by: monk3y
What bank are you with? I want those rates.

Eh? Whats so good about those rates? My checking gives 0.3% and my savings account gives 1.0%

Or did everyone's reading comprehension go downhill again and they are reading those percents wrong.

Hence why I asked about percentages above. Either those are:

6.5% and 5.0%....or they are the worst interst rates in history at "almost" less than 1/10th of a percent?

What if it was monthly compounded?

It would still be an anemic 1.26% per year for the .065% account. (1.065^12 - 1.00 )

http://www.bankrate.com/brm/rate/brm_int_chk_avg.asp

Not everyone banks at HSBC or Emigrant.

 

[Engineer]

Originally posted by: Syringer

Originally posted by: Engineer

Originally posted by: Tick

Originally posted by: Engineer

Originally posted by: ScottSwingleComputers

Originally posted by: monk3y
What bank are you with? I want those rates.

Eh? Whats so good about those rates? My checking gives 0.3% and my savings account gives 1.0%

Or did everyone's reading comprehension go downhill again and they are reading those percents wrong.

Hence why I asked about percentages above. Either those are:

6.5% and 5.0%....or they are the worst interst rates in history at "almost" less than 1/10th of a percent?

What if it was monthly compounded?

It would still be an anemic 1.26% per year for the .065% account. (1.065^12 - 1.00 )

http://www.bankrate.com/brm/rate/brm_int_chk_avg.asp

Not everyone banks at HSBC or Emigrant.

Never mentioned that they did.

 

[Syringer]

Yes, so, if the year interest of his account amounted to 1.26%, it'd be..*drum roll* half a percent higher than the national average. It's most definitely not 6.5 and 5.0%..

 

[randomlinh]

Originally posted by: Syringer
Yes, so, if the year interest of his account amounted to 1.26%, it'd be..*drum roll* half a percent higher than the national average. It's most definitely not 6.5 and 5.0%..

your link was to a checking %, saving's is a tad higher, no? altho it'd still put him around average I suspect.

 

[mwtgg]

Interest Rate 0.650%

 

[imported_goku]

Originally posted by: monk3y
What bank are you with? I want those rates.

Are people retarded? I said 0.50% and 0.65%, that would be about half of a percent, not 5 and 6 percent...

 

[Engineer]

There seems to be another zero after the decimal in the OP, or at least I may have looked at it wrong. I would suggest switching to an online bank such as Emigrant Direct or ING direct (others apply also) as 0.5% or 0.65% are pretty low, by all standards. If checking, your options are more limited, but some do exist.

 

[Engineer]

Originally posted by: goku

Originally posted by: monk3y
What bank are you with? I want those rates.

Are people retarded? I said 0.50% and 0.65%, that would be about half of a percent, not 5 and 6 percent...

No, people aren't retarded. You have changed the numbers several times in the OP and they were very UNCLEAR. Your most recent was from .0050% to .50% and .0065% to .65%. Why be as ass when you're changing the numbers?