IndyMac Bancorp (IMB), the latest victim of the subprime mortgage crisis, has been shut down by the Office of Thrift Supervision (OTS) today. To avoid selling IndyMac’s assets at fire-sale prices, the FDIC will take over its operations and run the bank until it can find a buyer. The bank will be reopened on Monday [...]
Read full article...Following HSBC Direct, which raised its rate to 3.50% APY last month, E*Trade Bank will increase the rate of its Complete Savings Account from 3.15% to 3.30% APY tomorrow.
That’s a good news for me since I’m kinda hedging by saving most of my cash in both of these two banks.
Anticipating rate hikes, one of my online savings accounts, HSBC Direct, has just increased its interest rate from 3.05% to 3.50% APY thru August 15, 2008 September 15, 2008 (Update: July 25, 2008) . More banks should follow suit soon.
Besides HSBC Direct, the majority of my cash is earning 3.15% APY at E*TRADE Bank.
Saving is about common sense, resistance to temptation, and personal priorities. Have you done the right things?
Consumer Debt: It’s hard to find a good reason to support that it’s brilliant idea to carry any kinds of consumer debt with an APR of 10% or more. If you have one, you should ask yourself why there [...]
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