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Citibank 4.50% APY e-Savings Account

Discussion in 'BBS Hangout' started by Jackfruit, Apr 25, 2006.

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  1. Jackfruit

    Jackfruit Member

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    Anyone here put money into this? In my view, this is totally awesome because it is just like a regular savings account. After opening the account online, you can service it at any branch. It's not like HSBC or ING where you are limited to Internet Banking. I threw some money into this and plan on throwing in some more.

    http://www.citibank.com
     
    #1 Jackfruit, Apr 25, 2006
  2. huypham

    huypham Member

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    why do a savings account when the stock market looks to be picking back up?
     
    #2 huypham, Apr 25, 2006
  3. Jackfruit

    Jackfruit Member

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    This is going to be a safety net for me. Basically money that I will put away in case the need arises. The interest is just icing on the cake.
     
    #3 Jackfruit, Apr 25, 2006
  4. huypham

    huypham Member

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    hey - for your car loan, do you get a benefit for paying it off early (i.e. less interest?)
     
    #4 huypham, Apr 25, 2006
  5. Jackfruit

    Jackfruit Member

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    Yeah it's simple interest. So I pay it off early, I pay less interest.
     
    #5 Jackfruit, Apr 25, 2006
  6. nyquil82

    nyquil82 Member

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    I don't use branches anyway with my hsbc online savings and the interest rate is 4.8%. I have another account with less in it, the interest is crap, but there are no ATM service fees if I use another ATM. It's a pretty sweet deal for now since I don't have time to handle investments right now.
     
    #6 nyquil82, Apr 25, 2006
  7. pirc1

    pirc1 Member

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    Depend on your car loan's interest rate. My car loan is 3.9% so if I am making 5% on CDs, I am borrowing from them to make money, why would I want to pay off the loan early? If your loan is say 6 or 7 % then it is a different story.
     
    #7 pirc1, Apr 25, 2006
  8. SamFisher

    SamFisher Member

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    blah, they want you to have a regular citi account first. No thanks.
     
    #8 SamFisher, Apr 25, 2006
  9. pirc1

    pirc1 Member

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    You can always go to ING or HSBC, which doesn't require you go have a regular account.
     
    #9 pirc1, Apr 25, 2006
  10. Got Em

    Got Em Member

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    I think HSBC has a special right now at 4.8% on savings but that is about to decrease any time. There's 1 year+ CD is only at 4.25%, while emigrant's savings is at 4.5% and 5% for an 18 months CD. I'd definitely go with emigrant.
     
    #10 Got Em, Apr 25, 2006
  11. Dr of Dunk

    Dr of Dunk Clutch Crew

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    What's wrong with Internet only banking for a savings account? Heck, it means I don't have to go anywhere to do anything really. Besides, it's a savings account... you shouldn't be hitting it every week. :)
     
    #11 Dr of Dunk, Apr 25, 2006
  12. Ubiquitin

    Ubiquitin Member
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    I second this. I use ING as my defacto savings box too.
     
    #12 Ubiquitin, Apr 25, 2006
  13. TracyMcCrazyeye

    TracyMcCrazyeye Member

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    i signed up for a citibank savings account a few weeks ago. the 4% interest rate is much better than my former savings account jsc federal credit union. 1% :p
     
    #13 TracyMcCrazyeye, Apr 25, 2006
  14. SWTsig

    SWTsig Member

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    i'm doing the emigrant 4.5% and i love it. no fees, no minimum, and i can transfer money in (and out i suppose) with the click of a button.
     
    #14 SWTsig, Apr 25, 2006
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