Thursday, November 9, 2006

NetBank Increases MMA Rates

After nearly a year, NetBank (Nasdaq: NTBK) has finally raised its interest rates on money market accounts for existing customers from 2.90% to 2.99% APY. Although this rate is much below what its competitors are offering, it shows NetBank's willingness to move in the right direction. Honestly, I thought that this day would never come! This is an impressive 0.09% increase! Imagine that if you have $10,000 deposited with NetBank, that would work out to an incredible $0.75 per month or $9 more per year. I'm absolutely flabbergasted by the immense generosity of the folks at NetBank. For once, I'm speechless...


Prior posts about NetBank (Nasdaq: NTBK):
Sayonara NetBank
More on NetBank
Unprofitable and Unstable NetBank

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