Virtual Bank is at 4.03% – ING is at 4.10% (APY)

I’m not big on going to parties or anything for the New Year. I’m at home on my laptop crunching numbers and trying to see how much we can stash away comfortably in our savings accounts before the end of the year. While checking our balances (by the way – thank you to everyone who has used my referrals to open accounts!), I noticed something interesting:

Virtual Bank now has a lower interest rate than ING Direct. Not too long ago, it was ING Direct who had the lower rate.

I like having money in a savings account and I like having my money make money (that’s how I explain it to my son). I think another thing to put on my “To-Do” list is to shop around for a better rate at a different online bank. The bonuses to open up our Virtual Bank and ING accounts were great, but I would love to earn more interest

After I do some research, I’ll post what I discover on here.

Now I’m off to continue crunching numbers. I don’t have too much time left to complete some transactions before the ball drops!

Posted by Tricia on December 31, 2007 at 10:51 PM in General Personal Finance | 8 Comments »
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Paul responded:
Posted: December 31st, 2007 at 11:03 pm
Trisha: eTrade has a savings account that is 5.05% and a 6 month CD is 5.25%. Good luck!
Tricia responded:
Posted: January 1st, 2008 at 12:02 am
Thanks for the head’s up, Paul!
Deby responded:
Posted: January 1st, 2008 at 2:11 am
I’ve been contemplating moving my savings accounts from ING to Emigrant, which is at 4.65%. I love ING, but I already have a few savings accounts set up at Emigrant for various funds, and the higher interest rate is a big attraction right now with rates dropping. But it’s hard to give up ING, it’s been very good to me (thanks to you Tricia, for hosting my referral links!) I’ll be interested to see what you decide to do, I haven’t quite made up my mind yet.
The Shopping Sherpa responded:
Posted: January 1st, 2008 at 3:55 am
Pity you can’t open an account in Australia (or can you?!) Dragon Direct (http://www.dragondirect.com.au/) is currently offering 7.05% on new accounts.

Because I have an existing account I’m stuck with 6.25% :-/
Susan responded:
Posted: January 1st, 2008 at 2:56 pm
I read on one post referred by Trish that Iceland banks are paying 12 percent interest on savings accounts. Such an account can be opened via an American bank, however, I do not have further details.
pfodyssey responded:
Posted: January 1st, 2008 at 9:41 pm
GE INTEREST PLUS. CHECK IT OUT.
Tyler responded:
Posted: January 2nd, 2008 at 7:17 am
AmTrustDirect.com offers 5.11% APY. They are a local bank here in Ohio so this works out perfectly for us.
Sam responded:
Posted: January 4th, 2008 at 12:38 am
emigrant direct at 4.65% and washington mutual online at 4.75% and citibank at 5%. good luck researching and deciding on which bank.