Comments on: Should I chase a 4% interest rate?

By: Festive Link Love Carnivality #25 | Free From Broke

Festive Link Love Carnivality #25 | Free From Broke — Sun, 21 Sep 2008 13:08:42 +0000

[...] it worth switching banks for a slightly higher interest rate, Sense To Save [...]

By: Dani

Dani — Thu, 18 Sep 2008 10:26:32 +0000

"Extra" money is always great and since you banked there already, it probably didn't take much to transfer over. How sad is it, however, that $45 these days is only about as good as a tank of gas, and maybe not even a full one! Dani's last blog post..What's Pork Got to Do With It?

By: PT

PT — Wed, 17 Sep 2008 11:39:26 +0000

Some are speculating about another FED rate change which might drop savings rates even lower. Might be a good idea to lock. I'm lazy though. PT's last blog post..Prime Time Money

By: Kacie

Kacie — Tue, 16 Sep 2008 16:30:18 +0000

I decided to go ahead and transfer it over. I figured since I already have an account with the bank, it would be much simpler.

In six months, I’ll just check on what the new rates are and go from there.

By: john b

john b — Tue, 16 Sep 2008 14:31:16 +0000

Since you have an existing bank relationship, I would go for it! Why not pick up the extra $$$? Like you said, $45 equals a tank of gas. john b's last blog post..Two More US Financial Titans Fall

By: Karen

Karen — Mon, 15 Sep 2008 23:53:46 +0000

Tough call. Sure, the extra $45 or so is tempting, but is earning $7.50 a month worth the hassle of opening a new account, moving your funds, and then possibly moving them back to ING again in 6 months if there's a drastic decrease in interest? If yes, then go for it! Personally, I probably wouldn't bother. If you're happy with ING, then it might not be worth all of that just to earn a little extra money. If you don't think shifting the funds around is a big deal, though, then why not? Karen's last blog post..Be familiar with what your insurance covers, and make sure your doctor is, too

By: Kacie

Kacie — Mon, 15 Sep 2008 19:02:30 +0000

Since it’s strictly for emergency savings, I don’t want to tie it up in a CD in case I need to get it.

I already bank at the brick& mortar bank in question, so that’s why I’m considering it. I wouldn’t have to open an account with an entirely new, unfamiliar bank.

By: FFB

FFB — Mon, 15 Sep 2008 17:24:29 +0000

If you don't plan on touching the money then you can look into opening up an ING CD. This way you keep it all in one place. I can understand chasing a higher return, after all money is money, but for me it's not worth keeping track of different accounts for a small % difference. I've been using ING for years and have always been happy with them. For a short time I considered opening up a WaMU account. Now I understand they could be in financial trouble. I think I made the right decision to stick with ING. FFB's last blog post..Some Rights Reserved