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Home > I (don't) heart ING

I (don't) heart ING

January 25th, 2008 at 11:41 pm

Wo! I can't believe they lowered their rate to 3.65.... from 4.10 !!! I'm glad that I don't have my long term savings there. I would pull all my money out but it's only $4000 so I doubt they would care.

I have decided to up my 2008 savings goal $500 to $7500 since I'm doing so good already!

Posted in Retirement savings, Saving money, Goals | 7 Comments »

7 Responses to “I (don't) heart ING”

  1. dardhel Says:
    January 26th, 2008 at 12:29 am 1201307396
    1201307396

    Most money market accounts will be adjusting their interest rate down in the near future. Frown

  2. Amber Says:
    January 26th, 2008 at 02:00 am 1201312857
    1201312857

    I have the bulk of my money there and I am feeling the pain

  3. baselle Says:
    January 26th, 2008 at 04:46 am 1201322804
    1201322804

    All banks are going to do it, because their interest rate is dependent on the Federal Reserve overnight rate (3.5% and probably will drop Tuesday) and the T-bill rate (about 3%). Sucks, but I'm even more leery of a bank offering a freakishly high rate because it implies that the bank has to suck in more money to cover writeoffs and debt.

  4. MariRDH Says:
    January 26th, 2008 at 06:13 pm 1201371234
    1201371234

    Yea, the fed lowered the prime rate 0.75% which is a HUGE one-time drop. Frown Ask me why I don't expect my CC to drop their rates anytime soon, though? Grrrr.

  5. Aleta Says:
    January 26th, 2008 at 08:46 pm 1201380362
    1201380362

    I personally think that by the fed dropping the rate by 75 did more to scare people than anything.

  6. M E Says:
    January 27th, 2008 at 01:42 am 1201398149
    1201398149


    Considering the fact that the Fed dropped the prime rate by .75% and your interest rate only dropped .45% . . . . . . What did you think would happen??

  7. Amber Says:
    January 27th, 2008 at 04:58 am 1201409884
    1201409884

    I just heard that we should brace ourselves because next week the rates may drop again Frown

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