ING LionMan, they did it again…

I understand the reasoning, but that doesn’t mean that I have to like it. And this latest one, yesterday, was a biggie.

Interest Rate Change to 2.178% (2.20% APY)

Ouch.

Just two weeks ago the rate dropped to 2.374% (2.40% APY) from the 2.472 (2.50% APY) that it had dropped to just 3 weeks earlier

And to think, it was just one year ago that I was complaining that the rate had dropped to 3.590% (3.65% APY). I’d take that in a second now!

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  1. Check out the best rates on short term deposits at big banks versus those at select community banks from CheckingFinder.com. Community banks continue to offer higher yields on short term deposits to serve as economic engines.

    COMMUNITY BANKS

    Florida Central Credit Union 6.01 FL
    First Robinson Savings Bank 6.01 IL
    Union State Bank/Bank of Atchison 6.01 KS
    Communications Federal Credit Union 5.25 OK
    Connexus Credit Union 5.15 WI
    Keystone Bank 5.15 AL
    First New England Federal Credit Union 5.15 CT
    Three Rivers FCU 5.01 IN
    Legence Bank 5.01 IL
    Community Bank of Pleasant Hill 5.01 MO
    Community Bank of Raymore 5.01 MO
    United Heritage Credit Union 5.01 TX

    MEGA BANKS

    • ING decreased their highest rate offered by 25 basis points, from a 2.50% APY on a 1 year CD to a 2.25% APY on a 4 year CD.
    • Schwab decreased their 18 month CD rate by 15 basis points, from a 2.65% to 2.50% APY.
    • E*Trade decreased their 5 year CD rate by 30 basis points, from a 1.70% to 1.40% APY.
    • E-Loan increased their 6 year CD rate by 50 basis points, from a 3.50% to 3.70% APY
    • Washington Mutual decreased their 5 year CD rate by 50 basis points, from a 3.00% to 2.50% APY.
    • AARP Financial Savings Center decreased their savings rate by 50 basis points, from a 2.00% to 1.50% APY.
    • Wachovia increased their 17 month CD rate by 15 basis points, from a 1.85% to 2.00% APY.
    • E-Loan currently has the highest rate at 3.70% APY on a 6 year CD.
    • E*Trade currently has the highest savings rate at 3.01% APY.

    Courtesy of BancVue.

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