My ING Direct On-Line Savings Account dropped it’s rates to 3.65% as a result of the Fed lowering rates by 3/4 of a point.
You know that you are winning with money when you are mad that the Fed is lowering interest rates!
I know that Emigrant is currently at 4.30% and HSBC is at 3.80%.
I have money in ING Direct and HSBC. Hey, 3.65% and 3.80% is WAY BETTER than the crappy 0.25% and nuisance fees that my old savings account had. Are YOU earning this type of interest on your savings? If not, you should check out these great banks/accounts.
I think I would probably be motivated to move my money if there was more than 1% disparity.
Are you a rate-chaser for your savings account money? If you are, how much is enough to make you move your money?
AUTHOR’S UPDATE: ING has now dropped their rates to 3.40% and Emigrant dropped to 4.05%. ARGH!