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Emigrant Direct Savings at 4% Interest!
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With the increase in short term interest rates by the Fed, Emigrant Direct is now offering 4% interest on their American Dream accounts. Four percent! That’s better than a lot of CDs.
For information on Emigrant Direct itself, read my Emigrant Direct review.
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Okay, 4% is pretty hard to ignore. Sounds like it might be time for me to open an account and slide some money over there. I wonder how long it will take for other online banks to respond.
Call up the Bank. The rate are VARIABLE RATE!!!! Go up and down. NO GOOD!
They are all variable rates…..do you know of an on-line savings (or any savings account) that isn’t?
Please advise.
No, all savings and checking accounts are variable rates. Occasionally a bank will guarantee a rate for 3 months or something (Everbank is currently offer 3.76% for the first three months).
I doubt ING will increase theirs above 3.75% (it’s currently at 3.3%) let alone 3.5%. You can hook up the two and transfer money directly between the two.