With all of the talk about the economic crisis and the bailout, we as consumers have been worried about our interest rates.
My main bank is ING since it holds my Never Go Back To Fresno Fund and the majority of my money. ING has always had some nice rates which is why I stuck with them.
I have been hearing about ING dropping rates on savings accounts to 2.75% but when I just logged into my account this has been further dropped to 2.71%.
I am going to stick with ING since it is still a great bank and still has one of the best rates out there.
How low will the rates drop to and when will the upturn begin?
Have you experienced any rate cuts with your other accounts?
I’d bet money that after the election, things go back to “normal”. Part of the reason the economy is down is because of the news media injecting fear into the public. As a result, people who don’t know much about their money get scared and do things they wouldn’t normally do.
Post election, the media will find something else to maintain their ratings, the public will find comfort and all is well. And that is regardless of who wins the election, because either way, the government (who is well known for their brilliance with money) won’t help you as an individual.
Shawn I agree with you on that. I see all of this hype as just another way to try to make us all crazy. People are hopping from bank to bank and (gasp!) hiding large amounts of cash in their homes.
I am going about my life just like normal and I refuse to go withdraw all that money to hide in a jar in the pantry.
I am looking forward to the weeks after election when things settle down.
Ouch!!! I haven’t checked mine in a while.
Where did you see 2.71% when you logged into ING Direct? Are you looking at the APY or real rate?
Bankrate still shows an APY of 2.75% and a real rate after promo of 2.72%.
When I logged into ING, I see that all 5 of my accounts show 2.75%.
In my ING statement there is a transaction dated October 9 which states ‘rate change to 2.716 (2.75 APY)”.