There have been a few interesting articles and interviews about the great CD and savings account rates at MoneyAisle over the past few days - I wanted to use this space to share them with all of you.
Want the Best CD Rates? Hold an Auction.
The Wallet blog at the Wall Street Journal featured MoneyAisle today.
An excerpt: "When I searched for the highest 5-year CD rate for $5,000 in New York City, MoneyAisle yielded a 3.35% CD from Katahdin Trust Company, which I never heard of before. The same search conducted on Bankrate turned up a 2.66% CD from MetLife Bank. In this scenario, by my calculations, I’d earn an extra $200 by going with the Katahdin CD."
Community Banks Go After Bigger Rivals
Bloomberg.com included MoneyAisle in an article about how some banks are offering better rates to increase their deposits. An excerpt: "Another way for consumers to find higher-yielding accounts is to visit http://www.moneyaisle.com, a Web site that auctions investors’ money to the federally insured bank that provides the highest rate. A recent search conducted on the Web site showed a winning bid of 3.25 percent for $20,000 in a high-yield savings account. "
In the Downturn, Find the Inefficiencies and Create New Businesses
Our CEO (and my fellow blogger) Mukesh Chatter was interviewed by Beet.tv. Click the link above to check out the video!
Thursday, February 5, 2009
MoneyAisle's Ability to Get Consumers Great High-Yield Savings Account and CD Rates in the News
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3 comments:
Congratulations on the great PR. In my review on RateNerd I found that I got a higher APY by using MoneyAisle. Nice job!
I've used your service to get some CD quotes and while most of the time, I get a higher rate elsewhere, I do find that hidden gem here and there! Great service though :)
Thanks for the comments. Gotalkmoney - because we're running live (yet nearly instantaneous) auctions, you will occasionally find higher rates elsewhere. Recently we've been very competitive on certain CD durations, for example.
Our use of VERIBANC ratings to pre-screen the banks in our network (banks rated "red with no stars", who are in danger of failing are not in our network) does mean you will occasionally see higher rates on some rate-listing sites - as an example, IndyMac were offering very high rates right before they went under. We feel that in order to offer additional peace of mind to our users, it's worth it to provide this added level of screening.
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