A Few Bank Rate (APY) Wiki Updates (28 November 2008)

Link to Wiki

In the realm of online savings accounts, here is a quick summary of changes from the last few days:

Rate Hikes

• Savings Square (3.60%) – up from 3.05%
• GMAC Bank (3.25%) – up from 3.00%

Rate Drops

• Venture Bank Direct (3.60%) – down from 3.80%
• Broadway Federal Bank (4.08%) – down from 5.13%. Yeah, I didn’t think they would last long, but they still claim the top rate.
• Citi Ultimate Savings (2.75%) – down from 3.00%.
• E-Loan Savings Plus (3.50%) – down from 3.70%
• Indymac E-Money Market (3.25%) – down from 3.44%
• Capital One Online Savings (3.40%) – down from 3.55%

I doubt many people thought Broadway Federal Bank could sustain their 5%+ rate once they were discovered. They proved us all right.

Obviously, there were many more rate drops than hikes since I started the rate Wiki. It’s a disturbing trend – one that I hope will not last (ha, right).

As always, you can view a list of the current rates here. If you spot an outdated rate, please contact me. You can also register as a Wiki user and make changes yourself. I appreciate any extra help in maintaining the list.

Happy Black Friday!