whats amazing about this is that wachovia just sent me a $10 offer to open a savings acct with them -- so i look at the rate they offer -- .15 - not even a half a percent!!!
Toot said: Should stay with ING Direct or a community bank that's offering Saving account at 3.00% guaranteed until 3/31/05?
Why wouldn't you want 3% instead of 2.35%?
If you're wondering if ING's rates will go up enough by 3/31/05 to make locking in 3% now a worse deal, I think it's safe to say no.
There are plenty of places you can get higher interest rates than ING. The attraction of ING is that you get to keep your money very liquid. With ING, there are no minimums, no rules, no restrictions, no fees, and no bull.
If you know you're not going to use the money for a while, lock it up in a CD.
With this community bank you need 15000 to open and 10000 minimum to stay everyday to keep the 3.00%. Other than that, there's $15 fee if you cancel within 6 months. That's why I am pondering to stay with ING or not. And I guess I shall.
Toot said: With this community bank you need 15000 to open and 10000 minimum to stay everyday to keep the 3.00%. Other than that, there's $15 fee if you cancel within 6 months. That's why I am pondering to stay with ING or not. And I guess I shall.
If you got $15000 and you know you're not going to touch it for 6 months, stick it in the community bank and you could make $50 more than ING after 6 mos. (at current rates). If you shop around, you can do even better.
I've got some coming due soon and their rates aren't really competitive any more...
tooshy
Frivolous Member
posted: Dec. 27, 2004 @ 12:48p
At least ING is going in the right direction....unlike our local credit union which insists on chopping rates even further. Checking earns .25% and savings .651%....grrr, so ING going up .10% is a whopping 40% increase of what my checking earns. My loyalty to our beloved credit union is dying.
lukasz
Member
posted: Dec. 27, 2004 @ 1:01p
Member since Dec 2002.... Excellent savings bank alternative
RallyCap
Senior Member
posted: Dec. 27, 2004 @ 1:08p
lukasz said: Member since Dec 2002.... Excellent savings bank alternative Nice value-added post. Keep 'em coming!
jdopple said: While short term rates inch up, your stinky dollars lose big buying power to the even stinkier euro.
This blip up is a fools paradise.
such a true point as i buy a lot of stuff from europe and about 2 yrs ago the dollar got me about .7 gbp now it gets me .55 or so
big diff!
Buddino
Senior Member
posted: Dec. 27, 2004 @ 8:27p
jdopple said: Buddino said: jlgrandam said: Nice, I just put 8K more in this month.Arent we special
Hey ,lgrandam said he's leaving it all to me in his will. Don't knock it.Oohh. i m sorry dont wont to mess with your money! You may want to do a search on trusts and gift taxes. LOL
Buddino said: I agree can we delete this thread. Rates will go up, will go down and maybe sideways.
I disagree. I wouldn't have known without this thread. Whahoo!
CoffeeEater
Greedy Member
posted: Dec. 28, 2004 @ 7:21a
kupop2 said: are we going to have one of these posts every month for the next year...
rates should continue to steadily climb, and ING definitely has the best rates around as far as large, national banks go.
Oh no! 1 thread a month! Whatever will we do!
Seriously, I cannot believe someone will complain about 1 thread a month versus the dozens of threads every week that someone posts about their FICO score and whether it will fall/drop.
jlgrandam
Addicted Member
posted: Dec. 28, 2004 @ 9:26a
For some people saving their hard earned dollars isn't easy so it may be very nice to make a little more interest, no matter how small. Why is FW so hostile?
SoBeyondTheNorm
Greedy Member
posted: Dec. 28, 2004 @ 9:36a
jlgrandam said: For some people saving their hard earned dollars isn't easy so it may be very nice to make a little more interest, no matter how small. Why is FW so hostile?
Maybe Santa brought them coal.
Thanks OP.
asharerin
Senior Member
posted: Dec. 28, 2004 @ 9:44a
Currently the Fed's funds rate is at 2.25% and all bodes well for it to climb at 0.25% intervals to 3.5%-4.0% over the next 12 months which should set ING's rate at 3.6-4.10%. Beyond those levels it's up to inflation to drive rates higher. The major source of inflation is the stock market and if the Dow continues to rally we should see nice profit taking in the mid 11k's to drive more spending. Oil looks like it wants to dump and Greenspan does not see the price of oil adversely affecting the US economy any more. Currently inflation is well below the Fed's target of 2%. Real challenge comes in 2008 when the baby boomers start retiring and start sucking out of the stock market.....no wonder Bush is desperate to allow individuals to push some of their retirement into Wall St to help prop up what looks to be a slow sinking ship.
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