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5.5% savings account
Old 09-26-2006, 02:53 PM   #1
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5.5% savings account

E-loan has started a new savings account paying 5.5%, $5k minimum.
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Re: 5.5% savings account
Old 09-26-2006, 02:54 PM   #2
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Re: 5.5% savings account

Quote:
Originally Posted by brewer12345
E-loan has started a new savings account paying 5.5%, $5k minimum.
Not bad...........
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Re: 5.5% savings account
Old 09-26-2006, 03:08 PM   #3
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Re: 5.5% savings account

I see that the WSJ also said that it will also launch CDs with rates between 5.6% and 5.75%.

WSJ also named some other online financial institutions with rates over 5% including:

Amboy Direct, 5.25% savings, 5.26% money market
EverBank, three month promotional rate of 6.01% on money market
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Re: 5.5% savings account
Old 09-27-2006, 09:48 AM   #4
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Re: 5.5% savings account

With 5.5% savings account rates, I wonder why we are not seeing 7% and higher long-term CD rates and 8% to 9% mortgage rates.
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Re: 5.5% savings account
Old 09-27-2006, 10:24 AM   #5
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Re: 5.5% savings account

Because the yield curve is close to flat today?
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Re: 5.5% savings account
Old 09-27-2006, 11:11 AM   #6
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Re: 5.5% savings account


I guess the catch with eloan is that it's not FDIC insured, is that right?
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Re: 5.5% savings account
Old 09-27-2006, 11:15 AM   #7
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Re: 5.5% savings account

Quote:
Originally Posted by timo
I guess the catch with eloan is that it's not FDIC insured, is that right?
Incorrect. Deposits are through Banco Popular, which is FDIC insured and IMO a reasonably solidly run bank. Both are owned by Popular Inc. (BPOP), of which I am a sharehlder as well.
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Re: 5.5% savings account
Old 09-27-2006, 11:17 AM   #8
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Re: 5.5% savings account

If the yield curve goes inverted, it will be an interesting time yet again...........
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Re: 5.5% savings account
Old 09-27-2006, 11:18 AM   #9
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Re: 5.5% savings account

Quote:
Originally Posted by FinanceDude
If the yield curve goes inverted, it will be an interesting time yet again...........
Umm, the yield curve IS inverted. Fed funds is 5.25%, 2 year treasury is 4.68%, 10 year is 4.59%.
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Re: 5.5% savings account
Old 09-27-2006, 02:31 PM   #10
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Re: 5.5% savings account

Quote:
Originally Posted by brewer12345
Umm, the yield curve IS inverted.* Fed funds is 5.25%, 2 year treasury is 4.68%, 10 year is 4.59%.
Nice..............that worked out well the last time it went that way............

I guess our boy Bernanke's going to have an interesting first 12 months in the chair..............
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Re: 5.5% savings account
Old 09-27-2006, 02:44 PM   #11
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Re: 5.5% savings account

Quote:
Originally Posted by FinanceDude
Nice..............that worked out well the last time it went that way............

I guess our boy Bernanke's going to have an interesting first 12 months in the chair..............
Actually the markets are up ~7-8% since the last yield inversion.

Yield inversions have accurately predicted 7 of the last 3 recessions. :
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Re: 5.5% savings account
Old 09-27-2006, 02:52 PM   #12
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Re: 5.5% savings account

7 of the last 3. Did I miss a few?
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Re: 5.5% savings account
Old 09-27-2006, 03:49 PM   #13
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Re: 5.5% savings account

Quote:
Originally Posted by justin
Yield inversions have accurately predicted 7 of the last 3 recessions.* *:
But only 5 out of every 4 economists would agree with you.
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Re: 5.5% savings account
Old 01-17-2007, 08:03 AM   #14
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Re: 5.5% savings account

looks like some of the online savings accounts are lowering rates...

Eloan has a listed Rate of 5.12% but my account still says 5.24% when I login....
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Re: 5.5% savings account
Old 01-17-2007, 09:53 AM   #15
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Re: 5.5% savings account

guess they reached their deposit target ... still, that's 5.25% APY... AmTrust is still at 5.3% APY and Vanguard MMP is at 5.23% APY
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Re: 5.5% savings account
Old 01-17-2007, 12:31 PM   #16
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Re: 5.5% savings account

Yep, it is APY 5.38% and rate of 5.24% for my existing account...I hope they keep it at this rate for existing accounts for awhile...finally got 70k stuffed into it
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Re: 5.5% savings account
Old 01-17-2007, 01:36 PM   #17
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Re: 5.5% savings account

Quote:
it is APY 5.38% and rate of 5.24% for my existing account
give'm time to update!
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Re: 5.5% savings account
Old 01-17-2007, 07:49 PM   #18
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Re: 5.5% savings account

Zions Bank Internet Money Market Account (FDIC insured) currently pays 5.3% APY for $1K minimum.
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