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Best Online Savings & Money Market Account Rates 2024

Best Online Savings & Money Market Account Rates

Recent Articles


Goldman Sachs (GS) In a Class of Its Own

With the big investment banks done reporting this week, one thing has become clear, Goldman Sachs is in a class by itself. Unlike the other banks, Goldman anticipated the credit crunch and put hedging strategies in place that produced the third best quarterly profit in the company’s 138 year history. Amazing.

How did it do it? By seeing the trends and betting against the mortgage market. The company’s mortgage profits actually rose significantly while the company also doubled revenue from equity trading and generated record investment banking fees.

As the chart shows, Goldman suffered along with all of other i-banks during the credit crunch but its stock is bouncing back. Based on these earnings, Goldman should bounce even higher.

It's PE is a bit higher than it's peers:

Goldman 9.68

Bear Stearns: 8.78

Morgan Stanley: 7.28

But how can you bet against a company that seems to have its pulse on the financial market. Short term, the stock may vaccilate but long term I'd put my money with the guys (and girls) who clearly know how to make lots of it - in good and bad.


CD and Savings Rates Poised to Drop Further

Rate information contained on this page may have changed. Please find latest savings rates.

Based on the decision minutes ago by the Fed to lower the discount rate by half a percent instead of the expected quarter of a percent, rates on short term CDs and savings accounts will most likely drop. The drop may start as early as tomorrow.

Based on the decision minutes ago by the Fed to lower the discount rate by half a percent instead of the expected quarter of a percent, rates on short term CDs and savings accounts will most likely drop. The drop may start as early as tomorrow.

With the Fed dicount rate now at 5.25%, banks have no incentive to lend money out above that rate. A quick glance at the BestCashCow CD Rate Table and BestCashCow Savings Rate Table shows that quite a few banks have CDs and Savings accounts in excess of 5.35% APY.

Consumers who want to be sure they receive these rates may want to lock-in quickly.


CD and Savings Rate Review

Rate information contained on this page may have changed. Please find latest savings rates.

A review of changes in high yield CD rates and Savings rates listed on the BesstCashCow.com rate table.

Despite continued turbulence in the financial markets, and expectations the Fed will drop rates, rates on CD and high yield savings accounts stayed pretty much the same over the last week.

On the Savings Rate Chart, Umbrella bank lowered their rate slightly from 5.06% APY to 4.95% APY with a three month intro rate of 5.35% APY. No bank that we are aware of raised its savings rate.

On the CD Rate Chart, Umbrella Bank adjusted its rate slightly from 5.44% APY to 5.42% APY. Other than that, rates held steady.

Several other banks have joined the CD Rate Table this week. They include:

  • Element Financial with competitive rates in the 6 month, year, and 2 year tables.
  • Discover Bank, with competitive rates in the 6 month table.
  • Met Life bank with the second highest rate in the 2-year table. If you are willing to invest over $100,000 with Met Life Bank they pay 5.45% APY which is the highest rate we’re tracking. BestCashCow only reports CD and Savings Accounts covered by FDIC insurance.

As always, all of the banks on the rate tables are FDIC insured. If you have money in a savings account or CD earning less than 5%, check out the BestCashCow Rate Tables for a no-risk way to earn more on your money. Banks compete for your cash and you might as well benefit.

If you are aware of other bank offers that belong on the rate table, please feel free to post them below.