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“Historical” Online Savings Interest Rate Comparison

Want to see an interesting comparison of the interest rates of HSBC, ING Direct [3], Virtual Bank [4], Emigrant Direct [5] and the Federal Funds rate in a table and easy to understand chart? Me too. That’s why I stumbled onto a thread at Fatwallet Finance documenting the interest rates of all those savings accounts (there are a couple more that I omitted) I thought a graphical representation would be an interesting thing to see. Historical is in quotes because this only goes back to January ’05 so it’s not exactly History Channel type depth but I think it’ll suffice.

Some thoughts…

Actual history and a line chart after the jump.

Date HSBC ING Direct Virtual Bank Emigrant Fed. Funds
Rate
1/05 2.35% 2.60% 3.00% 2.25%
2/05 2.35% 2.60% 3.00% 2.50%
3/05 2.75% 2.53% 2.80% 3.25% 2.75%
4/05 2.88% 2.98% 3.05% 3.25% 2.75%
5/05 2.88% 3.00% 3.05% 3.25% 3.00%
6/05 2.88% 3.00% 3.25% 3.25% 3.25%
7/05 3.25% 3.05% 3.40% 3.50% 3.25%
8/05 3.50% 3.27% 3.40% 3.50% 3.50%
9/05 3.75% 3.40% 3.55% 4.00% 3.75%
10/05 3.75% 3.48% 3.55% 4.00% 3.75%
11/05 4.00% 3.71% 3.55% 4.00% 4.00%
12/05 4.25% 3.80% 3.55% 4.00% 4.25%
1/06 4.25% 4.75% 3.55% 4.25% 4.50%
2/06 4.80% 4.75% 4.60% 4.25% 4.50%
3/06 4.80% 4.75% 4.60% 4.50% 4.75%
4/06 4.80% 4.75% 4.60% 4.50% 4.75%
5/06 4.80% 4.00% 4.60% 4.50% 4.75%

Based on records from Fatwallet’s user-supplied interest rate history records [7].