Banks Lower Interest Rates Following Fed

The Federal Reserve lowered rates again today, inspiring me to check the so-called “high-yield” savings and money market accounts to view the damage to the latest interest rates. I’ve once again updated the list of APYs reflecting the latest drops. I’m keeping a historical record, so siply scroll the spreadsheet to see how rates have changed since January 26.

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Flexo, the owner and creator of Consumerism Commentary, has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow him on Twitter.

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Anca

Is there someplace that compares each of those banks based on things like quality of user interface and ease of getting money in and back out?

Todd

Two local credit unions are offering > 6% APY on checking accounts. Our CU is 7.01% APY -- 6.79% APR if I remember right.

The only catch is that you need to have at least one direct deposit (no problem there) and do 10 debit-card transactions per month. I much prefer to use our rewards credit card to earn cash back, but for 7% on the money in my checking account I can make 10 small purchases per month with the debit card.

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