Home > Yay! The interest rate went up!!

Yay! The interest rate went up!!

February 6th, 2010 at 09:36 pm

That is pretty unusual these days. About a year and a half ago, my bank offered a great deal on checking accounts with a $1000 minimum. They were paying 3.1% interest, so I opened 3 accounts. One was for business checking, one was for personal checking and the third was for a local savings account. Last July 1st, the lowered the rate and it has been going down ever since. They have been paying less than 1% now for a couple of months.
I logged in today and see that they have raised the rates.
My savings account checking, the one with the biggest balance, is now paying 1.74%; the others are paying a lower rate, but still higher than last month.
Heck that is almost as good as I can get on a 1 year c.d.!
I had a no use gas yesterday and the stock market went up slightly, so I am adding $3 to my challenge money.
Prev. total $2504.00
today 3.00
new total $2507.00

2 Responses to “Yay! The interest rate went up!!”

  1. frugaltexan75 Says:


  2. 3in1energy Says:

    Ok thats cool !! So if one invested 300.00 @ 1.74% how long would it take to have 10,000.00 ? Im just not sure thats fastest enough growth for my situation. I have 3 children & 10 Grandchildren ranging from 2-13 years old. I want to pay for their college as well as enjoy time freedom & travel with my wife. We plan to live full time RV soon. Lets stay in touch & perhaps share our success's & failures on savings , investing ect. I started my true commitment to financial freedom a little over 2 years ago. I have no retirement income & to young for SS. Have a blessed night!

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