Dollar Savings Direct Lowers Rate (Again) – 3.20%
Posted February 5, 2009 by Chuck
Posted in: 
Personal Finance
Personal Finance
Less than 2 weeks after lowering their interest rate from 4% to 3.5%, Dollar Savings direct has done it again. This time they are going down to 3.2% APY.
While disappointing, the only other bank I see offering a significantly higher rate is Broadway Federal (4.08% APY) – however that appears to be a promo rate which won’t last. There are some other rewards checking accounts with higher rates, but you have to jump through too many hoops for my taste (10 debit card transactions a month, direct deposit, sacrifice first born…).
So I will be sticking with Dollar Savings for the time being.
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Matt – Broadway Federal is the highest right now at 4.08% APY. However that rate is so much higher than every other rate out there I find it hard to believe it will stay there much longer.
Now it’s down to 2.65. What are my options for high-yield these days? GMAC is down to 2.75 and Countrywidebank is way down to 1.65.
Everbank is only at 2.73% APY which 1.25% less than the top yielding accounts at the moment.
Have you looked at Everbank? guaranteed to be in the top 5% also has a money market account, very easy to transfer money to/from regular checking.
Phil
Double Drat! I think I got 4.00% for a whole week, now 3.50 for two. Looks like I’ll be at 0% in a few months!