- MySavingsDirect (Emigrant Bank) [mysavingsdirect.com] - 4.35%
- Merchants Bank of Indiana [merchantsbankofindiana.com] - 4.34%
- Bask Bank [baskbank.com] - 4.25%
- UFB Direct [ufbdirect.com] - 4.21%
- Upgrade Premier [upgrade.com] - 4.13%
- Salem Five Direct [salemfivedirect.com] - 4.10%
- Capital One 360 Savings [capitalone.com] - 3.4%
- Robinhood Gold [robinhood.com] - 3.75% w/ $5/mo membership (Can't verify)
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The point I'm making is, if the Fed meets expectations (currently 50bps-50bps-25bps-pause) over the next 4 meetings, the rates will theoretically stay where they are.
To use a real-world example, it's the same reason why mortgage rates have been rising gradually and why they didn't suddenly rise 75bps yesterday or today upon the Fed hike announcement. It's because it was already priced in.
Edit: Note, I'm leaving quite a bit of nuance and detail out of this and am not picking on you in particular. I just see quite a bit of misunderstanding about how consumer interest rate products react to Fed overnight rate hikes and when.
Source: Work in finance
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I prefer CURRENT BANK. it's 4% up to 6k. I have automatic transfer of 4.50$ / week of interest into Marcus because anything above 6k gets 0 interest. The interest accrues and pays out daily.
Getting referred gets 3 months. Total = 1.5 year of 1% bump + their current 2.5% rate. They keep raising rates every month.. around 3rd week of each month. So by the time wealth front and sofi gets to 3.5, this Marcus for me would be at 4.0 or 4.125%
Consider 1 million cash out refi at 2.5%>> Jerome Powell is paying for our house.
Like I said I don't need to "spread my code". My wife and I have spread 10 codes on Chinese social media easily. They've got couple million ppl who would love to stash USD here .
I do have friends whom I didn't refer that I'd love to help them (they are current Marcus clients) who may have some codes to spread around. The referral program ends November anyway.
Might hop on the cap one 1k for 100k when I'm done with the 1000 for 100k at sofi in Nov 30th.
Hopefully by then the market bottoms and we can deploy cash
I remember during the stimulus check time.. ppl were rushing to buy overpriced playstation 5 and Xbox. Had a guy who said I just got my stimmie and I need this Xbox... I was like ok thank you.
Free money.. last train.. I remember rates shot up after new years eve.
Was trying to get a guy to lock in rates and he ghosted me. His loss..
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1 usd was 27 twd, now it's 32... Just currency alone is 10%+ gain.
TWD was at 27? omg...have you looked at yen/uk sterling? amazing.
Yen was at 115-120 now 145-149
The point I'm making is, if the Fed meets expectations (currently 50bps-50bps-25bps-pause) over the next 4 meetings, the rates will theoretically stay where they are.
To use a real-world example, it's the same reason why mortgage rates have been rising gradually and why they didn't suddenly rise 75bps yesterday or today upon the Fed hike announcement. It's because it was already priced in.
Edit: Note, I'm leaving quite a bit of nuance and detail out of this and am not picking on you in particular. I just see quite a bit of misunderstanding about how consumer interest rate products react to Fed overnight rate hikes and when.
Source: Work in finance
Source: also work in finance
Free money.. last train.. I remember rates shot up after new years eve.
Was trying to get a guy to lock in rates and he ghosted me. His loss..
Best,
Sean
When recession hits (which some says we are in one already).. he gonna trade his Xbox for diapers for his newborn kid? (Literally he showed up to buy Xbox when he just had a newborn)..
Even if your house depreciates due to rising rates.. someone else is buying it for you so it doesn't matter.
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