catmandu57
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:31 PM
Original message |
.90% interest on a savings account at our bank, no wonder |
|
that people don't save. Even a little, less than one percent, we just as well stuff our mattress. This must be why the stock market is so inflated, there's no way to make money by having a savings account. i've been preaching to my wife for years we have to open a savings account for a rainy day, trouble is like most of America it takes every cent that comes in to cover what goes out, but, .90% damn i'm going to invest in mason jars and bury it out back.
|
BlueEyedSon
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:31 PM
Response to Original message |
1. Meanwhile they turn around and lend it out at 27% |
CountAllVotes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:34 PM
Response to Original message |
2. try EmigrantDirect - paying 4% Money market |
|
I've had an acct. here for awhile now. Right now they are paying 4% interest on a savings/money market account.
Can't beat it!
www.emigrantdirect.com ... :D
:kick:
|
karlrschneider
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:41 PM
Response to Reply #2 |
5. I'll second that, I have an account there too. |
CountAllVotes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:50 PM
Response to Reply #5 |
14. yes it beats ING Direct and VirtualBank |
|
EmigrantDirect has the best thing going right now. I got a nice chunk of interest last month on the money I have in this account. :D
:kick:
|
ronnykmarshall
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:57 PM
Response to Reply #14 |
17. I have an ING account and I think I'll switch. |
Name removed
(0 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:37 PM
Response to Original message |
|
Message removed by moderator. Click here to review the message board rules.
|
lcordero2
(832 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:38 PM
Response to Original message |
4. check this out before you move your money anywhere |
dretceterini
(329 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:42 PM
Response to Reply #4 |
|
has better rates than most banks on savings accunts and short term CDs
|
lcordero2
(832 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:47 PM
Response to Reply #6 |
10. If I wanted to get a savings account I would open an account |
|
overseas. I will try my very best not to support the corrupt machinery in this country.
|
CountAllVotes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:49 PM
Response to Reply #10 |
12. I have an accout established overseas |
|
and it is paying .06% (luckily just a few euros in it!). Not a great idea and how exactly do you get the money if you need it? :think: about it seriously.
:kick:
|
lcordero2
(832 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:54 PM
Response to Reply #12 |
15. I rather have my money overseas rather than be enroned or |
|
have something like the savings & loan scam happen to me. I want to preserve the value of my money and that is not possible if money is in US dollars.
|
lcordero2
(832 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:49 PM
Response to Reply #6 |
13. actually, I found something that I'm looking into |
|
http://www.offshore.hsbc.com/1/2/homeI have to ask their customer service reps to see if they can have accounts done in euro rather than dollars.
|
RobertSeattle
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:45 PM
Response to Reply #4 |
8. Yes - you must vote with your financial feet |
|
Many Banks KNOW that people are very resistant to changing accounts to they intentionally keep interest rates low. Punish them by moving to a bank with better rates.
|
Lex
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:43 PM
Response to Original message |
7. What about money markets or long-term CDs? |
|
Some interest is better than not saving at all.
|
catmandu57
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:46 PM
Response to Reply #7 |
9. They're not too good either |
|
2% for cd's which is the way we will have to go.
|
CountAllVotes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:48 PM
Response to Reply #9 |
11. that is simply not true |
|
I have most of my investments in CDs. Some are paying 5.25%, others paying 5%, 4.75% and a few at 4%.
I plan on buying more CDs in January probably at the rate of hopefully 5.25% or more.
That works out to be a decent profit.
:kick:
|
catmandu57
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 03:14 PM
Response to Reply #11 |
|
maybe at yours but not here.
|
LittleClarkie
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 02:55 PM
Response to Original message |
16. What about credit unions? |
|
Are they any better right now?
|
CountAllVotes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 03:03 PM
Response to Reply #16 |
18. Credit union is where I got the 5.25% CDs from |
|
Edited on Thu Oct-13-05 03:03 PM by CountAllVotes
I have most of my money in credit unions. They tend to pay more that a regular bank. The money I have in the regular back is currently paying .37% if you can believe that. :puke: Luckily only $300. there - just enough to keep the acct. free from the monthly service charge. I must have this acct. where it is as I have a safety deposit box at this place. Makes me quite sick.
Greedy suckers!
:kick:
|
AnnInLa
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 03:03 PM
Response to Original message |
19. Try a combination of Ing Direct for money you would need on short |
|
notice, then CDs (go to bankrate.com and buy directly from the company), and if you think inflation will increase, then buy a gov't I bond. I got disgusted with the stock market, sold everything, and am only using the money market now...altho, under the mattress, or a hole in the back yard is looking better and better nowadays.
|
CountAllVotes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 03:17 PM
Response to Reply #19 |
21. ING Direct is paying 3.4%; EmigrantDirect 4.0% |
|
<< Earn 3.40% Annual Percentage Yield on an FDIC-insured savings account with no fees, required minimums or service charges… no matter how much you have on deposit. >>
EmigrantDirect has no fees no miniumus either and they do pay more that ING does. Same story with virtualbank.com and they too sell CDs.
:kick:
|
dretceterini
(329 posts)
Send PM |
Profile |
Ignore
|
Thu Oct-13-05 04:46 PM
Response to Reply #21 |
22. The accounts are slightly different |
|
EmigrantDirect is a savings account with full access, at 4%.
A one year CD at ING with no minimum deposit is 4.2%.
A one year CD at Virtualbank is 4.35%, but they have a $10,000 minimum deposit.
|
CountAllVotes
(1000+ posts)
Send PM |
Profile |
Ignore
|
Fri Oct-14-05 11:55 AM
Response to Reply #22 |
23. I'm not talking about CDs from these places |
|
I'd never buy a CD from any of these places. Why would I when I can get at least 5%+ from my credit union? This thread is about savings accounts, not CDs.
:kick:
|
DU
AdBot (1000+ posts) |
Thu May 09th 2024, 02:34 AM
Response to Original message |