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  1. 02-24-2011, 11:51 AM #1
    kitkat0649
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    Default ING lowered APY AGAIN

    I logged on this morning to see that the APY of my savings had been lowered to 1% Does anyone have any experience with any other reputable online banks in which they are currently earning more than this %?
    Grace, wife to Bill

    DD Chloe (03/2010)
    DD Emma (05/2011)
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  2. 02-24-2011, 01:27 PM #2
    ktsmama
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    I just check my ING account. It's down to 1%, too. I am about to go check out the savings accounts at my credit union.
    Robbin

    Mom to Katey
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  3. 02-24-2011, 04:13 PM #3
    dcompton
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    I had HSBC. When at the first of the year it dropped to .9% I decided I'd had enough. I'm not keeping as much in regular savings as I used to, so the interest wasn't enough for the online waits. I moved it all into my local bank, which is less than that, but a little less than hardly anything is negligible. I'm happy with the decision - it's more accessible since online transfers to and from checking are instantaneous.

    Online savings accounts used to be a really good deal, but no more.

    That didn't answer your question, but the vent felt good. Thanks for indulging me!
    Donna

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  4. 02-24-2011, 04:19 PM #4
    ktsmama
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    Quote Originally Posted by dcompton View Post
    I had HSBC. When at the first of the year it dropped to .9% I decided I'd had enough. I'm not keeping as much in regular savings as I used to, so the interest wasn't enough for the online waits. I moved it all into my local bank, which is less than that, but a little less than hardly anything is negligible. I'm happy with the decision - it's more accessible since online transfers to and from checking are instantaneous.

    Online savings accounts used to be a really good deal, but no more.

    That didn't answer your question, but the vent felt good. Thanks for indulging me!
    This is exactly what I am thinking.
    Robbin

    Mom to Katey
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  5. 02-24-2011, 05:18 PM #5
    Contrary Housewife
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    I've been putting mine into CDs. You can get rates of 1.25% for 12 or 15 mo CDs with as little as $500 if you look around.
    Use it up, Wear it out,
    Make it do, Or do without. ~unknown

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    But if you try sometimes you just might find
    You get what you need ~Rolling Stones

    A clean house is a sign of a wasted life. ~unknown
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  6. 02-24-2011, 06:59 PM #6
    porembam
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    Discover bank went down to 1.2 % - citizens bank is .09% ( ridiculous)
    I agree with others and have been putting what I can in short term cds which have better rates then close to 0% in savings and MF accounts
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  7. 02-24-2011, 07:15 PM #7
    Greebo
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    With the mortgage market what it is, you'll be lucky to do much better.
    If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.

    Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"

    Greebo    (Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
     WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!

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  8. 02-24-2011, 07:29 PM #8
    lparker
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    I wouldn't worry about it too much...now you're losing 2-3% on your money instead of 1.9-2.9% while the banks are making 10-15% or better on it...probably closer to 200% in the long run.
    BEF fully funded

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