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Online savings rates drop....what to do?
Old 10-27-2007, 11:03 AM   #1
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Online savings rates drop....what to do?

well, I've got a substantial amount of $$ on hand in an online savings thru Amtrust. It yielded about 5.4 APR for the last 9 months or so Ive had it. allthewhile, my ING acct sat idle as their rate had been in the 4's.


Amtrust just dropped to 4.7 or so (based on my calculations...i didnt actually see it advertised on their site...ill have to look @ my statement).


Who's offering 5+% rates, even if introductory for 6 months+? I usually goto Bankrate, but am wondering if anyone uses other sites?




I wish I'd pulled the trigger on the PenFed 6% Cd...I should've done it with at least half.
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Old 10-27-2007, 03:17 PM   #2
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https://www.everbank.com/

6.01% APY introductory.
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Old 10-27-2007, 03:23 PM   #3
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The money market fund screen at WellsFargo shows several 5+% MMfunds are around, so that's another site you can use. Or just use your online broker's screen for CDs. Issues come and go, so since they are ephemeral one has to screen every week to see the best rates.
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Old 10-27-2007, 03:56 PM   #4
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Welcome to the Rate Chasers:

Best current APY/APRs: The Daughter of The Mother - Checking, Saving, and Money Market: All Liquid Accnt Interest Rates!
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Old 10-27-2007, 09:25 PM   #5
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Another alternative is the publicly traded bond closed end fund PPT. It yields in excess of 5% and the manager periodically buys back shares, sometimes considerably above current market prices.
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Old 10-27-2007, 11:53 PM   #6
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You may want to consider 7 or 28 day auction rate preferred's. $25,000 increments. Double collateralized.

Also, if greater than 100k take a look at the various AIM money markets.
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Old 10-27-2007, 11:54 PM   #7
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I meant AIM Institutional money markets.
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