Comments on: “Historical” Online Savings Interest Rate Comparison

By: Chris

Chris — Mon, 27 Jun 2011 18:11:10 +0000

I, myself am looking for this data. I have tried the BEA, The Treasury, FDIC, Federal Reserve, and the statistical abstract websites. If anyone knows where to look email me at huusch01@luther.edu.

By: Bob Mulroy

Bob Mulroy — Sat, 02 Apr 2011 17:53:36 +0000

I am trying to find a table of Savings account Interest Rates from 1976 to the present. Any ideas?

Bob

By: Jim

Jim — Mon, 01 Mar 2010 18:31:46 +0000

Wish there were a place to see historical rates as they change. Since 2007 the interest rate on my hsbc and ing accounts have dropped by a huge factor.

By: John Koontz

John Koontz — Fri, 28 Apr 2006 19:53:02 +0000

Just got an email that HSBC is going to be at 4.5 when the promotional rate ends (May 1).

By: Matt

Matt — Tue, 25 Apr 2006 11:24:35 +0000

The only reason my money wasn’t in an online bank 5 years ago is because 5 years ago was 2001, and the online bank my money had been in was bought by PayPal (and then shut down) in 2000.

By: Herb

Herb — Mon, 24 Apr 2006 20:07:43 +0000

I’d still pick HSBC; they’re the only one I’ve been able to find that Quicken can connect to and they give you a acct# and routing# so you can do ACH transfers… There also sup-secure. So secure in fact that I was pissed off I elected not to get an ATM card with my acct because if you don’t get the card, you have to call in to do pretty uch anything when you’re setting up transfers and what not.

By: jim

jim — Mon, 24 Apr 2006 18:16:49 +0000

CK – I was thinking the same thing… put your funds in a bank with no branches and little in the way of customer service, all for an interest rate of 3-4% If it wasn’t for the FDIC, I’d think it was a scam.

By: CK

CK — Mon, 24 Apr 2006 17:44:50 +0000

I just like to think what my reaction would have been 5yrs ago if someone had said “online bank” to me back then.

By: Chris

Chris — Mon, 24 Apr 2006 17:32:02 +0000

No problem — Thanks Jim for presenting these data.

By: jim

jim — Mon, 24 Apr 2006 16:51:05 +0000

Shoot you’re right Chris… I put in one month too many on that chart. Nice catch…

By: Chris

Chris — Mon, 24 Apr 2006 16:43:21 +0000

Isn’t HSBC’s promotional 4.8% APY supposed to end 31 April?

By: Anon E. Mouse

Anon E. Mouse — Mon, 24 Apr 2006 14:52:29 +0000

Here’s my interpretation of the chart; all the rates are virtually identical. If you had a hypothetical $10,000 saved at any of these online banks, once you got done paying taxes the actual different in interest per year might be $15 – $20.

So, rather than pick the bank based on the interest rate, one would be well-served to pick the bank with the best customer service, software compatibility, or some such.

One would be somewhat ill-advised to jump around from bank to bank; the potential returns from this strategy are minimal and the potential risks (money being out of play, having to track transferred money, etc..) far outweight the returns.

By: Miller

Miller — Mon, 24 Apr 2006 13:34:00 +0000

Not that it is terribly significant (