Thursday, June 2, 2011 - 3:24 PM

SmartyPig Is Cutting Its Savings Account Rate to 1.10% APY

Just received the following interest rate notice:

Effective June 15, 2011, the interest rate paid on SmartyPig savings accounts will be adjusted.

The interest rate earned on balances* $0.00 - $50,000.00 will earn 1.095% (1.10% APY). The interest rate earned on balances* above $50,000.00 will earn 0.499% (0.50% APY). *Balances: For purposes of calculating balances for determination of the rate tier that applies, total balances of all goals within your SmartyPig profile will be aggregated.

Thank You.

The SmartyPig Team

That's down from 1.35% APY.

WhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,577

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Quick
Summary

1. Friday, December 2, 2011 - 5:14 PM

Yet another cut:

Effective Friday, December 9, 2011, the interest rate paid on SmartyPig savings accounts will be adjusted.

The interest rate earned on balances $0.00 - $50,000.00 will be 0.698% (0.70% APY). The interest rate earned on balances above $50,000.00 will be 0.499% (0.50% APY).

carnholio8 posts since
Jun 12, 2010
Rep Points: 22

2. Friday, December 2, 2011 - 5:33 PM

Ouch. That's a big cut. Thanks for posting.

I thought SmartyPig would at least match or stay about ING Direct's savings account rate.

BBVA Compass must have decided it didn't want the deposits.

KenBDG5,176 posts since
Nov 29, 2009
Rep Points: 117,645