Online Savings Account Interest Rates History
For those who have been following this blog long enough, you know I spent quite a lot of time updating interest rates of popular online banks. I even have a table listing the latest interest rates and a Best Online Savings Account Deals page to help track where the good deals are. While keeping the rate table up to date is important because that’s most people care about when they search for an online bank with better rate, I think I lost some information during the update that is also equally valuable when evaluating a bank: The bank’s historical interest rates.
The current rate does matter when I screen banks for a good deal. After all, that’s what I am getting NOW. However, if the bank has been inconsistent with its interest rate in the past and tended to change it dramatically, I probably will stay away from it because I don’t know what I will get tomorrow, next week, or next month. Of course, banks change interest rates whenever they are pleased, but I still prefer banks that keep their rates relatively steady, gradually adjusting rates as the environment changes but no big ups and downs.
So from now on, instead of just replacing old data with new ones when I update the interest rate table, I will keep a record of interest rate changes of those banks I track and use it a reference for me and others who may be interested in knowing a little bit history of a bank’s interest rates 
Too bad that I have only the most recent data, so the table probably doesn’t look very helpful at this moment. I will keep adding to it whenever I see a change. If you have historical data of any bank listed here, leave a comment and I will add to the table. Also new banks will be added as they emerge. The table is also published, which you can check it out here online.
BTW, here a couple of latest rate changes I just received. ING Direct Orange Savings Account now 2.40% APY and WT Direct Online Savings Account now 2.81% APY. I am glad Dollar Savings Direct is still holding up at 4.00% APY. Other banks which have been holding rates steady are E*Trade Complete Savings Account 3.01% APY and IGoSavings 3.08% APY.
Related Articles You Don't Want To Miss
- E*Trade Raise Rates on Complete Savings Account: Interest Rates Bottomed?
- Best Online Savings & Checking Accounts Interest Rates
- Is the Fed Going to Determine Savings Account Interest Rates?
- Latest Online Bank Savings & Checking Rates
- Online Savings and Interest Checking Accounts: Where are the Good Deals?
- Year-to-Date 4-Week T-Bill Rates and Current Online Savings Rates
- ING Direct Lowered Interest Rates
- Online Interest Checking Plus Savings Accounts: Who Offers the Best Deal?
Trackbacks & Pingbacks
- Pingback by Best Online Savings And Checking Accounts Interest Rates: The Full List on January 22, 2009 @ 1:27 pm
- Pingback by Weekly Roundup - Is It Tax Time Already? | Frugal Dad on January 23, 2009 @ 6:02 am
- Pingback by Dollar Savings Direct Dropped Rate to 3.50% APY on January 23, 2009 @ 11:04 am
- Pingback by Dollar Savings Direct 4.00% APY, GMAC Bank 3.75% APY [Bank Reviews] on January 23, 2009 @ 11:38 am
- Pingback by High-Yield Checking And Savings Accounts: Best Deals You Can Find [Bank Reviews] on January 23, 2009 @ 9:14 pm
- Pingback by EverBank Money Market 3.51% APY, E*Trade Complete Savings 2.50% APY on January 31, 2009 @ 11:49 am
- Pingback by 176th Carnival of Debt Reduction | rocket finance on February 1, 2009 @ 11:50 pm
- Pingback by Discover Escape Card 25,000 Miles Promotion [Card Reviews] on February 9, 2009 @ 11:05 pm
- Pingback by $15,000 Homebuyer Tax Credit In 2009 Stimulus Plan, DollarSavingsDirect 3.20% APY on February 10, 2009 @ 10:52 pm
- Pingback by Best High Interest Rate Online Savings Account [Bank Reviews] on February 15, 2009 @ 10:58 pm
- Pingback by Redneck Bank 3.10% APY and Danvers Bank 3.00% APY [Bank Reviews] on March 2, 2009 @ 11:14 pm
- Pingback by FNBO Direct is SCARY on March 5, 2009 @ 11:05 am
- Pingback by Time to Say Goodbye to Dollar Savings Direct on March 9, 2009 @ 3:29 pm
- Pingback by Reward Checking Accounts Offer Higher Rates [Reveiws] on March 20, 2009 @ 7:48 pm
- Pingback by Band Bonuses: $50 Bank of America Checking and $50 Capital One Savings on March 24, 2009 @ 10:04 pm
- Pingback by FNBO Direct 1.90% APY, WTDirect 1.76% APY and E*Trade 1.45% APY [Bank Reviews] on April 2, 2009 @ 3:08 pm
- Pingback by EverBank Money Market Savings Account Review 2009 [Bank Reviews] on April 8, 2009 @ 1:30 pm
- Pingback by Dollar Savings Direct Savings Account Is Still the Best Option [Bank Reviews] on April 22, 2009 @ 8:17 am
- Pingback by Ally Bank Review: Online Savings Account 2.25% APY, No Penalty CD 2.50% APY [Bank Reviews] on June 3, 2009 @ 9:18 am
- Pingback by I Hate IGoBanking on June 23, 2009 @ 10:27 pm
- Pingback by EverBank Money Market Account Yield 3.01% APY [Bank Reviews] on July 3, 2009 @ 8:32 pm
- Pingback by Twitted by SunFinancial on July 3, 2009 @ 9:31 pm
- Pingback by Capital One Online Savings Account Promotion Code For $25 Bonus on October 7, 2009 @ 10:01 pm
- Pingback by Should you Treat your Emergency Fund as an Investment? on October 19, 2009 @ 12:07 pm
Here is the complete interest rate history of ING Online savings account from Sept 2007 – present.
Sep 19, 2007 - 4.218% (4.30% APY)
Nov 1, 2007 Interest Rate Change to 4.121% (4.20% APY)
Dec 13, 2007 Interest Rate Change to 4.025% (4.10% APY)
Jan 23, 2008 Interest Rate Change to 3.590% (3.65% APY)
Feb 1, 2008 Interest Rate Change to 3.348% (3.40% APY)
Mar 11, 2008 Interest Rate Change to 3.057% (3.10% APY)
Mar 19, 2008 Interest Rate Change to 2.960% (3.00% APY)
Oct 9, 2008 Interest Rate Change to 2.716% (2.75% APY)
Dec 30, 2008 Interest Rate Change to 2.472% (2.50% APY)
Jan 20, 2009 Interest Rate Change to 2.374% (2.40% APY)
You should consider adding another line to this spreadsheet: the federal funds rate. Many banks adjust their interest rates in alignment with what the Fed does.
Some historical rates from an old thread: http://www.fatwallet.com/forums/finance/579954/
Thanks for the chart. If you could add an asterisk to those percentages that are short-term promotional rates, and perhaps sort by rate (for the most recent period) rather than alphabetical by bank name, a “yield chaser” such as myself would find it more useful.
Hee, hee. You can’t please all of the people all of the time, can you???
@John: Good point. And now you can see the list sorted on the latest rates.
As of today 3/17/09 the Dollar Savings Direct is an even lower 2.05%. How low can it go!
@FAUguy Thanks for letting me know the rate drop. Dollar Savings Direct officially sucks.