Introducing the Savings Account Deals Page

As a rate chaser, I am always on the lookout for new bank offers. And if I find one that I feel can better serve my money, I usually end up getting an account myself. Since it seems that there are always bank offers better than I am using, the result of the rate chasing is the increasing number of bank accounts I own: As of today I have a total of 9 (yup, I have that many) bank savings and checking accounts at Dollar Savings Direct, Emigrant Direct, ING Direct, HSBC Direct, FNBO Direct, Capital One, IGoBanking, Virtual Bank, and Bank of America, with Dollar Savings Direct being the latest.

Despite the large number of accounts I have, only two of them are active right now: one savings account at Dollar Savings Direct and one checking account at Bank of America. All others have little or no money in them right now, but the accounts are still open (at least I can still log in). Will 9 be the maximum number I can handle? I don’t know. It really depends on what are being offer. I intend to keep an account open but with no money in it (as long as I am not charged with monthly account maintenance fee) so I have the option to switch back and forth.

It’s funny that I once deterined to simplify our finance by reducing the number of accounts, bank accounts and broker accounts, we own. Now I can conclude that my effort has failed miserably.

One topic that I discussed quite often here is the change of interest rates at some popular online banks, as you can find under the Banking category. Though most of the discussions are on bank accounts that I am using or have used before (obviously I have more to talk about if I own an account with the bank), I also covered banks that I have no relationship with. I even have a page to track online bank interest rates. The good thing about the interest rate table is it’s simple: You can easily find out who’s offering the best deal. The shortfall is also obvious: It doesn’t give enough information on any account while my discussions on a particular bank scatter all over the place.

Then yesterday, I decided to give the interest rate table an upgrade: To make a Best Online Savings Account Deals page, which is also accessible from the menu bar at the top of the screen. On that page, you will find some basic information about those bank accounts I am tracking, such as interest rate and minimum deposit, along with my own discussions (following is an example of one of the items). The purpose, of course, is to make it easier to find what  you are looking for.

Since I have a long list of banks in the interest rate table, I am going to need some time to finish the page. And new banks will be added to it once I discover them.

Take a look and let me know what you think

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