e-Trade, where I have my emergency fund, just announced that as of the end of the day on 12/19/08 the rate on their savings account will be dropping from 3.30% to 3.01%.
I can’t say that I’m all that surprised, and I expect several other announcements like this one in the next few days. With the fed dropping rates and the bottom falling out, the rates could go a fair bit lower before we start seeing them go up. Maybe it’s time to put the money into a CD instead? I know that even locally the rates are better than 3.01%. Of course, you’ve got to tie your money up for a few months. Not that big of a deal when you’re talking about an emergency fund. Something to think about.
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I started this blog to share what I know and what I was learning about personal finance. Along the way, I've discovered the Yakezie group, and many other blogging friends.
