Comments on: High Yield Bank Accounts - April, 2007 http://probargainhunter.com/2007/04/24/high-yield-bank-accounts-april-2007/ News, Tips and Resources for Online Bargain Hunters Wed, 07 Jan 2009 09:35:23 +0000 http://wordpress.org/?v=2.6.2 By: Yan http://probargainhunter.com/2007/04/24/high-yield-bank-accounts-april-2007/#comment-18274 Yan Thu, 26 Apr 2007 06:28:58 +0000 http://probargainhunter.com/2007/04/24/high-yield-bank-accounts-april-2007/#comment-18274 Yes, you have to look at details with each of these deals. Clicking on "info" may help since they guy often summarizes what you should be looking at with each offer. In this particular case (Geauga Savings Bank), I don't see anything unusual with the short guarantee. Banks adjust savings rates all the time. If you need a longer guarantee -- go with a CD. Yes, you have to look at details with each of these deals. Clicking on “info” may help since they guy often summarizes what you should be looking at with each offer.

In this particular case (Geauga Savings Bank), I don’t see anything unusual with the short guarantee. Banks adjust savings rates all the time. If you need a longer guarantee — go with a CD.

]]> By: XynamaX http://probargainhunter.com/2007/04/24/high-yield-bank-accounts-april-2007/#comment-18238 XynamaX Wed, 25 Apr 2007 18:52:10 +0000 http://probargainhunter.com/2007/04/24/high-yield-bank-accounts-april-2007/#comment-18238 RE: # Geauga Savings Bank - 5.45% I don't like how banks are throwing out "teaser" rates for savings accounts now. If they offer a rate on a savings account, it should fluctuate with other rates. 5.45% is nice, but after July 15th, who knows what the new rate will be. To open an account for 2-3 months of interest is a real hassle these days.. For this one you really need to read the fine print though: <i>*Signature Savings Annual Percentage Yield (APY) assumes principal and interest remain on deposit for one year. Interest is paid annually on December 31st of each year. Initial Rate is guaranteed through 07/15/07. For funds not currently on deposit with GSB. Rates subject to change without notice. Quarterly Statements. Deposit Range 0-24,999,99 Rate 0.0%/APY 0.0% $25,000-99,000 Rate/APY 5.45% $99,000.01-up Rate/APY 2.00%</i> Your interest is paid on 12/31/2007! This seems more like a CD where you need to keep your $$ in for a specified amount of time before you see a return. You're better off using an established savings account (emigrant, ing direct) then taking a chance on this. They don't even offer online banking either! RE: # Geauga Savings Bank - 5.45%

I don’t like how banks are throwing out “teaser” rates for savings accounts now. If they offer a rate on a savings account, it should fluctuate with other rates.

5.45% is nice, but after July 15th, who knows what the new rate will be. To open an account for 2-3 months of interest is a real hassle these days..

For this one you really need to read the fine print though:

*Signature Savings Annual Percentage Yield (APY) assumes principal and interest remain on deposit for one year. Interest is paid annually on December 31st of each year. Initial Rate is guaranteed through 07/15/07. For funds not currently on deposit with GSB. Rates subject to change without notice. Quarterly Statements. Deposit Range 0-24,999,99 Rate 0.0%/APY 0.0% $25,000-99,000 Rate/APY 5.45% $99,000.01-up Rate/APY 2.00%

Your interest is paid on 12/31/2007! This seems more like a CD where you need to keep your $$ in for a specified amount of time before you see a return. You’re better off using an established savings account (emigrant, ing direct) then taking a chance on this. They don’t even offer online banking either!

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