ING Direct does 4.75%
ING Direct’s message to the world has always been about no gimmicks and guaranteed rates. However, first Emigrant Direct and then HSBC managed to offer better APY than ING Direct. So currently ING Direct is running a promotion for new money only, offering 4.75% APY on any deposit that comes in after January 19th. Which makes you wish you had $1 left on the account with ING yesterday, so that you could fill it up to the top now. The promotion, and the 4.75% rate, ends April 15th, so on April 16th the money will earn usual ING Direct rate, which right now is at 3.80% APY.
Will Emigrant Direct and HSBC Direct match this? The Feds are meeting on January 31st, and the rate, most likely, will be increased to 4.50% from the current 4.25%. HSBC for now looks to follow the Fed rate blindly, while Emigrant had a setback last time the rate was upped to 4.25% (and Emigrant Direct stayed at 4.00%).
January 24th, 2006 at 4:13 am #zip a dee doo dah
Vanguard’s Money Market now boasts a yield of 4.05%
In the current environment it looks like the high-yield savings companies are finding it harder to maintain their advantages.
January 28th, 2006 at 1:47 pm #>> Feds expected to raise the rate again @ Alex Moskalyuk Online
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