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New Savings Account

August 2nd, 2007 at 10:15 am

I started to use Internet bank back in 2000 to enjoy the higher yield. Then ING Direct came along so I jumped to them right away. Later on Citibank came up with a 5% online savings account that just beat every one else's yeild so I moved again.

Unfortuantely, a few days ago I realized Citi had lowered the yield to 4.25%, much lower than what other institutions are offering.

After some research on Bankrate.com I found GMAC with a 4-star rating that offers a yield of 5.3% APY. That sounds pretty good to me, but I'd like to know if any one on this board has any experience with GMAC before I dump Citi. Please share your experience with me.

Posted in Uncategorized | 5 Comments »

5 Responses to “New Savings Account”

  1. shiela Says:
    August 2nd, 2007 at 11:46 am 1186055200
    1186055200

    I'm about to sign up to this
    http://www.bankwest.com.au/regularsaver/
    Unfortunately, I think it is only available in Australia. I also already got other 2 online saving account open - ING Direct (6%) and Bankwest Telenet (6.8% for the first 12 months). Again these are Australian rates, which differ what is offered in the USA.

  2. Ima saver Says:
    August 2nd, 2007 at 12:24 pm 1186057483
    1186057483

    I have heard it is pretty good, i am thinking about going with them too cause you can open by mail.

  3. fern Says:
    August 2nd, 2007 at 03:44 pm 1186069464
    1186069464

    I don't have any personal experience with GMAC, but I wonder how all that opening and closing of bank accounts looks on your credit report.

  4. Kikee Says:
    August 2nd, 2007 at 05:04 pm 1186074267
    1186074267



    I have checked my credit report(s) in the past and I don't recall any bank (checking or savings)information being on it.

  5. Amber Says:
    August 3rd, 2007 at 02:51 am 1186109487
    1186109487

    I never used Gmac but HSBC which I think is about 5.05% it was ok, but I am much satisfied with ING

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