Comments on: Pseudo-Savings Option: GE Interest Plus Account http://www.consumerismcommentary.com/pseudo-savings-option-ge-interest-plus-account/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Tue, 29 May 2012 02:26:10 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: financialdave http://www.consumerismcommentary.com/pseudo-savings-option-ge-interest-plus-account/comment-page-1/#comment-267314 financialdave Thu, 15 Sep 2011 01:11:12 +0000 http://www.consumerismcommentary.com/2007/07/06/pseudo-savings-option-ge-interest-plus-account/#comment-267314 Ya, those rates were from the end of Sept. 2007. I have been with them for 16 years and the rates have always been better than most other short term rates - Right now 9/14/11, is the lowest they have ever been @ 1.3% for >$50k fd Ya, those rates were from the end of Sept. 2007. I have been with them for 16 years and the rates have always been better than most other short term rates – Right now 9/14/11, is the lowest they have ever been @ 1.3% for >$50k

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]]> By: Larry http://www.consumerismcommentary.com/pseudo-savings-option-ge-interest-plus-account/comment-page-1/#comment-255457 Larry Mon, 11 Apr 2011 15:20:11 +0000 http://www.consumerismcommentary.com/2007/07/06/pseudo-savings-option-ge-interest-plus-account/#comment-255457 Below are the rates advertised on GE Interest Plus website, am I missing something, the date is current on your article, but I don't think they have ever paid those rates. Investment Amount Rate (%) Yield¹ (%) Less than $15k 1.25 1.26 $15k - $49,999 1.35 1.36 $50k - $5MM* 1.45 1.46 Rates may be reset weekly. Below are the rates advertised on GE Interest Plus website, am I missing something, the date is current on your article, but I don’t think they have ever paid those rates.

Investment
Amount Rate (%) Yield¹ (%)
Less than $15k 1.25 1.26
$15k – $49,999 1.35 1.36
$50k – $5MM* 1.45 1.46
Rates may be reset weekly.

]]> By: tbrick http://www.consumerismcommentary.com/pseudo-savings-option-ge-interest-plus-account/comment-page-1/#comment-122856 tbrick Thu, 15 Nov 2007 13:28:49 +0000 http://www.consumerismcommentary.com/2007/07/06/pseudo-savings-option-ge-interest-plus-account/#comment-122856 I have been with them since inception and find it to be a great place to invest. Always higher rates than C.D's, and you can withdraw any amnt at any time. Sure there is some risk, but I havent lost a dime in over 20 years with them...... I have been with them since inception and find it to be a great place to invest. Always higher rates than C.D’s, and you can withdraw any amnt at any time. Sure there is some risk, but I havent lost a dime in over 20 years with them……

]]> By: dong http://www.consumerismcommentary.com/pseudo-savings-option-ge-interest-plus-account/comment-page-1/#comment-116796 dong Fri, 06 Jul 2007 14:48:58 +0000 http://www.consumerismcommentary.com/2007/07/06/pseudo-savings-option-ge-interest-plus-account/#comment-116796 Hmm, seems interesting, but I wonder how much of discount you might be getting in comparison to investing in GE Commercial Paper directly (not that most individuals would or should). Hmm, seems interesting, but I wonder how much of discount you might be getting in comparison to investing in GE Commercial Paper directly (not that most individuals would or should).

]]> By: kurt http://www.consumerismcommentary.com/pseudo-savings-option-ge-interest-plus-account/comment-page-1/#comment-116793 kurt Fri, 06 Jul 2007 13:24:58 +0000 http://www.consumerismcommentary.com/2007/07/06/pseudo-savings-option-ge-interest-plus-account/#comment-116793 And I was right, they do pay more than an average money market (which is good -- you need to be compensated for credit concentration). "Rates will always be greater than the most recent seven–day average yield (non-compounded) for taxable money market funds in the United States as published in Money Fund Report (TM) a service of iMoneyNet, Inc. (Formerly IBC's Money Fund Report)." And I was right, they do pay more than an average money market (which is good — you need to be compensated for credit concentration).

“Rates will always be greater than the most recent seven–day average yield (non-compounded) for taxable money market funds in the United States as published in Money Fund Report (TM) a service of iMoneyNet, Inc. (Formerly IBC’s Money Fund Report).”

]]> By: kurt http://www.consumerismcommentary.com/pseudo-savings-option-ge-interest-plus-account/comment-page-1/#comment-116792 kurt Fri, 06 Jul 2007 13:23:30 +0000 http://www.consumerismcommentary.com/2007/07/06/pseudo-savings-option-ge-interest-plus-account/#comment-116792 That's a fascinating way for a company to reduce their debt expense. It's basically a money market account, complete with some of the restrictions on check writing (I bet most MM accounts hold a lot of short term GE paper). Accordingly, there is concentration risk here, so I would hope to make more from GE than from a standard money market account. However, I still think that a tax free money market account is still the way to go for those in high income tax brackets. For instance, the Vanguard Tax Exempt money market fund is currently yielding 3.64% after tax, or 5.43% pre-tax for those in the 33% tax bracket and 5.05% for those in the 28% tax bracket. That’s a fascinating way for a company to reduce their debt expense. It’s basically a money market account, complete with some of the restrictions on check writing (I bet most MM accounts hold a lot of short term GE paper). Accordingly, there is concentration risk here, so I would hope to make more from GE than from a standard money market account. However, I still think that a tax free money market account is still the way to go for those in high income tax brackets. For instance, the Vanguard Tax Exempt money market fund is currently yielding 3.64% after tax, or 5.43% pre-tax for those in the 33% tax bracket and 5.05% for those in the 28% tax bracket.

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