Chump Change Report - Online Savings Rates Crawling Up
Online banking pioneer Ing Direct has turned five years old. And they have bumped their Orange Savings Account rates up to 3.4%, lagging the Fed by 35 basis points.
Upstart Emigrant Direct is now offering a bold 4% for their own no-fee savings accounts.
Q: With FDIC-insured rates like this, and with five- and ten-year Treasury note rates bracketing 4%, how much sense does it make to buy any of of what our President likes to call "worthless IOUs?"