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.
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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.
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