<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > They lowered the rate already

They lowered the rate already

February 11th, 2010 at 09:50 pm

I got a letter from my bank that failed, saying that they had lowered the rate on my certificate of deposit from 4% to 1% as of next week. That means I will lose about $18 a day in interest for the next year, or $6570. I never thought I would see the day when a certificate of deposit paid only 1%.
Hey, but I am grateful that I have that money saved up! Gotta look on the bright side, right!!

Posted in Uncategorized | 3 Comments »

3 Responses to “They lowered the rate already”

  1. Analise Says:
    February 11th, 2010 at 10:13 pm 1265926439
    1265926439

    That's very disappointing, but thankfully, you still have your principal.

  2. thriftorama Says:
    February 11th, 2010 at 10:47 pm 1265928458
    1265928458

    That's the first thing the fed does when they take over a bank. It's no good for you, but it's good for taxpayers.

  3. baselle Says:
    February 13th, 2010 at 04:09 am 1266034154
    1266034154

    INGDirect is paying 1.25% on liquid accounts (that you can move at will), 2% on their CDs. You probably know this already, but its something to consider.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]