Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
On-line Saving
Old 04-04-2015, 10:06 AM   #1
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
On-line Saving

Seems to be a good deal: 1.05% APY for online saving from GE Capital Bank.
https://www.gecapitalbank.com//savin...ECB-UYB7148379

do not see any gotcha - any comments?
__________________

__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-04-2015, 10:37 AM   #2
Thinks s/he gets paid by the post
Dash man's Avatar
 
Join Date: Mar 2013
Location: Limerick
Posts: 1,668
I've had the bulk of my cash with them for a while. No complaints from me other than they don't do trust accounts.
__________________

__________________
Dash man is offline   Reply With Quote
Old 04-04-2015, 10:51 AM   #3
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,815
The only potential gotcha that I see is "Rate is variable and may change after the Account is opened", but they probably won't slash it all at once...but they might nibble away at the rate. I tried to look-up the history of their rate on https://www.depositaccounts.com/chec...-accounts.html but GE wasn't on there (that I could find).
__________________
sengsational is offline   Reply With Quote
Old 04-04-2015, 11:03 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Kerrville,Tx
Posts: 2,707
Quote:
Originally Posted by sengsational View Post
The only potential gotcha that I see is "Rate is variable and may change after the Account is opened", but they probably won't slash it all at once...but they might nibble away at the rate. I tried to look-up the history of their rate on https://www.depositaccounts.com/chec...-accounts.html but GE wasn't on there (that I could find).
Try Metlife as it was the name before the organization moved from Metlife to GE.
__________________
meierlde is offline   Reply With Quote
Old 04-04-2015, 11:22 AM   #5
Thinks s/he gets paid by the post
Dash man's Avatar
 
Join Date: Mar 2013
Location: Limerick
Posts: 1,668
Quote:
Originally Posted by sengsational View Post
The only potential gotcha that I see is "Rate is variable and may change after the Account is opened", but they probably won't slash it all at once...but they might nibble away at the rate. I tried to look-up the history of their rate on https://www.depositaccounts.com/chec...-accounts.html but GE wasn't on there (that I could find).

I opened my account with them a little over a year ago and the rate recently increased to 1.05%. Money can always be moved if they reduce the rate below competitors rates.
__________________
Dash man is offline   Reply With Quote
Old 04-04-2015, 11:27 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Wish they had a deposit electronically by mobile phone option like others do.
__________________
Options is offline   Reply With Quote
Old 04-04-2015, 11:39 AM   #7
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Quote:
Originally Posted by Dash man View Post
I opened my account with them a little over a year ago and the rate recently increased to 1.05%. Money can always be moved if they reduce the rate below competitors rates.
good point as long as no restrictions exist.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 04-04-2015, 01:29 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,925
Quote:
Originally Posted by meierlde View Post
Try Metlife as it was the name before the organization moved from Metlife to GE.
I thought Metlife was the source of GE Capital Retail Bank, not GE Capital Bank?
__________________
kaneohe is offline   Reply With Quote
Old 04-04-2015, 02:03 PM   #9
Full time employment: Posting here.
BTravlin's Avatar
 
Join Date: May 2010
Posts: 994
I've had an account with them for about a year and all has gone well. Interest rate during this time has gone from .9% to 1.05%.
__________________
Wherever you go, there you are.
(In other words, no whining!)
BTravlin is offline   Reply With Quote
Old 04-04-2015, 02:12 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,418
I spent some time playing chase the rate, setting up accounts at Ally and Discover. Their rates tend to be significantly higher than the brick and mortar banks. But the rates do fluctuate, and it takes paying attention to constantly be in the highest available. It's just not worth the effort to keep checking the rates, especially since the difference between .9% and 1.05% on a $100K CD is only $150/year. I can make that difference up by not eating out a couple of times.


I doubt this will happen, as it's not in the banks best interest, but it would be nice if you could set up a text or email alert letting you know when the rates change.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 04-04-2015, 02:15 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,315
We are in interesting times when 1% is considered a good rate.

That said, I am getting about 0.9%, which is much better than my local banks and credit unions.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 04-04-2015, 04:05 PM   #12
Full time employment: Posting here.
 
Join Date: Mar 2011
Posts: 534
Another happy customer here. The rate went down a tad, then came back up.
__________________
jon-nyc is offline   Reply With Quote
Old 04-04-2015, 04:09 PM   #13
Recycles dryer sheets
mn54's Avatar
 
Join Date: Sep 2007
Location: mpls, mn
Posts: 440
I also have had an account with ge for some time. They historically have had very competitive rates. never had any problem with them.
__________________
mn54 is offline   Reply With Quote
Old 04-04-2015, 04:20 PM   #14
gone traveling
 
Join Date: Sep 2013
Posts: 1,248
Quote:
Originally Posted by Spanky View Post
Seems to be a good deal: 1.05% APY for online saving from GE Capital Bank.
https://www.gecapitalbank.com//savin...ECB-UYB7148379

do not see any gotcha - any comments?
They have good rates.

It is online banking only. Do not expect that they will hold your hand but you will get a nice high rate.
__________________
eta2020 is offline   Reply With Quote
Old 04-04-2015, 08:51 PM   #15
Dryer sheet wannabe
 
Join Date: Jul 2014
Posts: 12
UFB direct 1.25% on deposits larger than 50k and FDIC insured.


Sent from my iPhone using Early Retirement Forum
__________________
NotOldYet is offline   Reply With Quote
Old 04-05-2015, 08:04 AM   #16
Full time employment: Posting here.
 
Join Date: Jan 2014
Posts: 661
Quote:
Originally Posted by NotOldYet View Post
UFB direct 1.25% on deposits larger than 50k and FDIC insured.
I found following for UFB Direct.

10/09/14 - 1.25% APY
03/02/15 - 1.10% APY
03/16/15 - 0.95% APY
__________________
MBSC is offline   Reply With Quote
Old 04-05-2015, 08:39 AM   #17
Dryer sheet wannabe
 
Join Date: Jul 2014
Posts: 12
Quote:
Originally Posted by SCGamecock View Post
I found following for UFB Direct.

10/09/14 - 1.25% APY
03/02/15 - 1.10% APY
03/16/15 - 0.95% APY
Yep, they dropped it. Just got my monthly interest payment and its reflecting the new rates. Time to move my slug of cash back to GE. I've been trying to keep significant dry powder in case of a good pull back.
__________________
NotOldYet is offline   Reply With Quote
Old 04-05-2015, 08:58 AM   #18
Recycles dryer sheets
 
Join Date: Nov 2013
Posts: 202
I've already started the process to purchase five year CD at Syncrony at 2.25. I can't remember exactly, but I think she told me early withdrawal penalty is 6 months interest. Not great, but not a lot of options right now. Getting 4 separate CDs just in case I need money early, but shouldn't be necessary.

Sent from my KFJWI using Tapatalk
__________________
Debinnov a is offline   Reply With Quote
Old 04-05-2015, 09:30 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,446
Quote:
Originally Posted by Debinnov a View Post
I've already started the process to purchase five year CD at Syncrony at 2.25. I can't remember exactly, but I think she told me early withdrawal penalty is 6 months interest. Not great, but not a lot of options right now. Getting 4 separate CDs just in case I need money early, but shouldn't be necessary.

Sent from my KFJWI using Tapatalk
That's usually the best you can expect for a five year CD. With many you lose 12 months of interest.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 04-06-2015, 10:13 AM   #20
Full time employment: Posting here.
hesperus's Avatar
 
Join Date: Aug 2013
Location: colorado
Posts: 519
I've had over 300K in online GE Capital for over a year, and am quite pleased. I researched a number of online banks, and read reviews before going with GE. I was tired of parking large amounts of cash in brokerage sweep accounts that draw next to nothing. Like another poster has said, the rates have gone from .9% to 1.05% in a year. They seem to be very quick with the rate changes. It's a good place to keep the powder dry. I have the account electronically linked to my brokerage, and cash transfers take about 24 hrs to clear.
__________________

__________________
hesperus is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Saving vs. Saving ProGolferWannabe FIRE and Money 37 07-07-2013 06:10 PM
In-Line Etiquette: Opening a new checkout line Amethyst Other topics 44 11-12-2010 07:42 PM
Home Equity Line of Credit Or Unsecured Personal Line of Credit? helocked Hi, I am... 18 05-03-2008 09:27 PM

 

 
All times are GMT -6. The time now is 08:27 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.