Best Bank Rates August 2009
Economists are still making claims that America is climbing out of the current recession. The best bank rates August 2009 are still relatively flat. This has been going on now for over a year. One economist after another is sticking his head on the chopping block predicting that the American and worldwide financial recession is over. So far each and every one of them has been wrong.
Almost all investors know about CD’s and how safe of an investment there are but there are still savings accounts that can earn a decent rate along with money market accounts. The average is only between 0.5% and 1.5% but there are some out there that are better if you look.
There are online banks that offer higher rates. The main reason they can do so is because of their reduced overhead. Most of these online banks are not full service banks but just a source for high return investments. An example of the best bank rates is Smarty Pig. They have a savings account that is being offered with an APY of 3.05% APY. There are restrictions and limitations so read the fine print.
There is an even better bank rate from First Trade Union Bank. They have an online savings account that is offering a return of 3.25% APY. There is a minimum of $2500 required. Some of the limitations and restrictions with this account are if the balance drops below $2500, the APY drops to 0.50%. Another restriction is if the balance drops below $250, then there is a $2.50 service charge. The really nice thing about this offer is that it actually comes from a real brick and mortar bank. Plus your investment or savings is protected by the FDIC. Look for that guarantee when investigating best bank rates August 2009.
Random Posts
Comments
Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!
