Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
Member Login

Site Notices
Posted: 8/3/2005 12:13:23 PM EDT
I have roughly $3200 in my savings account at a local bank and am only getting 92 cents in interest a month. That equals $11.04 a year in interest earned. Now according to my rough calculations, that means I have a yearly interest rate of  .345%. If I go to Emigrant Direct or ING as I plan to do, I'll be able to get at LEAST 8 times the amount of interest (assuming an average rate of 2.75%).

It may not seem like much, but it will add up to at least over $75 in interest a year instead of an abysmal $11.04.
Link Posted: 8/3/2005 12:15:02 PM EDT
Getting 0.75% at the bank here on savings.
Link Posted: 8/3/2005 12:51:53 PM EDT
I get 0% at my local credit union but they give me free checking, no min balance for the checking account.  The acct is liked to a money mkt account and I transfer any $ I dont need into the MM acct which gives me a whopping 2.25% maybe,  better days are round the corner, wont be long until you see 24 or 27 month cds for 5%+
Link Posted: 8/3/2005 12:59:46 PM EDT
Savings account?  What is that?!?!?  

Put your money in the stock market!  It averages about a 10% return a year!  

Close Join Our Mail List to Stay Up To Date! Stay Informed On All Things 2A

Sign up and receive updates every Friday morning featuring the latest chatter from the ARFCOM community, breaking news and legislation, as well as exclusive deals only available to ARFCOM email subscribers.


By signing up you agree to our User Agreement.
Top Top