New Online Savings Rate Bumps!

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HSBC Direct recently bumped up their online savings rate to 3.50% until August 15, 2008.

FNBO Direct also announced today via email that they were bumping their online savings rate to 3.50%. They also increased some of their CD rates. These are great places to park that emergency fund.

You can also earn 3.90% at SmartyPig which is a little different than an online savings account. I just opened an account and should have a full review soon.

Does this signal the end of rate decreases by the Fed? Have we hit the bottom as far as interest rates go? I think so especially since inflation is now on the rise. The Fed will have to increase rates in order to help combat inflation as seen in soaring energy costs and food costs.

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