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| Thursday, June 15, 2006 |
| Raise those rates Mr. Bernanke |
Today's Boston Globe has the article: Cashing in on cash - observing what the personal finance blogging world has been buzzing about for the past nine months - rising interest rates on money market accounts and more importantly online saving accounts.This is the combination of factors turning money market mutual funds into cocktail conversation again. Investors more interested in safe harbors and money fund rates climbing to near 5 percent may be made for each other. ``Cash as a defensive play has come to the fore, and higher rates have made it an offensive play as well," says Peter Crane , publisher of Money Fund Intelligence. Nice to know that if you have "minimum deposits ranging from $1 billion to $100 million" you could get "rates slightly over 5 percent".
Or you could have a minimum deposit of $1 and get 4.65% at HSBC Direct online savings account or a minimum of $250 dollars at ING Direct and get $25 opening bonus AND 4.25%.
Considering how much cash I am currently holding, I am pretty excited to see what the new round of rate hikes will do to the ongoing rate war between HSBC Direct and ING Direct. Competition - it is a good thing! |
| posted by Boston Gal @ 8:26 AM *
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