Saturday, August 21, 2010

Money Market Rates 8/10

Here are the latest money market interest rates of the banks that I've been tracking on my blog. Note that these rates are sorted by APY, and represent institutions that I have accounts at, or have otherwise mentioned in my blog:

1.35% Discover Bank Online Savings
1.29% Ally Bank Online Savings
1.10% HSBCAdvance Online Savings
1.10% ING Direct Orange Savings
1.03% Shorebank Direct Online Savings**
0.70% Citibank Ultimate Savings
0.65% Western FCU Money Market
0.40% Chase Plus Savings
0.30% E*TRADE Complete Savings
0.16% PayPal Money Market*

NOTES: *The PayPal Money Market fund is NOT FDIC insured.
**On Friday, August 20, 2010, ShoreBank, Chicago, IL was closed by the The Illinois Department of Financial & Professional Regulation, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. The FDIC has issued a press release regarding this matter.

Rates are believed to be accurate as of 8/20/10. I did not include banks that had special, or introductory rates in the list because they are not ongoing interest rates. I am also not including non-liquid accounts such as CD's in the list.

This month, Discover Bank Online Savings has the highest interest rate of the banks that I'm tracking. So, there is the latest list. Please let me know if you know of any higher interest rates.



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