Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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They used to be 5-6% a few years ago and now they're like 0.20%...?? When will they go back to above 3%? What are better alternatives to Online Savings and CD accounts?
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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Yes, it depends (on the rates...)
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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Yes, this site is wonderful and updates monthly or so:
http://www.depositaccounts.com/blog/2013/01/comparison-of-longterm-cd-rates-after-early-withdrawal-penalties-january-2013.html
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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Plenty of accounts offering close to 1% with low or no minimums available. ING, Sun, Tiaa, Amboy, Ally
It's no 3-5% but it's much better than what the average Savings account pays.
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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:rofl2:
http://en.wikipedia.org/wiki/Lost_Decade_(Japan) * how ever long we keep the music playing
:rofl2::rofl2::rofl2:
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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OP, if anyone knew where to get a low-risk return of 3-5% we'd all be flocking there. It's just not out there right now, at least in the forms of an insured account/security. I bonds are a little...
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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The Federal Reserve controls the interest rates. The 5-6% rates you're talking about were before the major economic downturn. You won't see the rates you want for years:
...
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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Has anyone found the break even point on early withdrawal from a 5 year? I could calculate, but I'm lazy :)
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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Right now I would forget about savings accounts and CDs, in favor of rewards checking accounts. At least for the first 15-25k of your money (assuming you don't want to risk the money in investments...
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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I remember the first time I opened up an ING savings account after I started my first job out of college...opened at 5% and watched it dwindle down to nada in months.
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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Same reason why I'm getting a mortgage for 2.5% currently where a few years ago it was double, or more of that. Interest rates across the board are doooooooooooooooooooown!
They'll go back up once...
Why are Online Savings accounts and CD interests so low?
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Thread created 01-28-2013 by slickpost
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Which is the point of low interest rates from the get-go.
