BestCashCow Savings Rate Index - Oct 3, 2007

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

The index dropped 10 basis points over the last week according to the BestCashCow savings rate index. Banks are lowering their high yield savings account rates.

The BestCashCow Savings Rate Index shows a 10 basis point drop over the past week.  The impact of the Fed's rate cut is starting to be felt in high yield savings accounts.  While the top rate remains 6.01% APY (this is a 3 month guaranteed promo rate) the second best rate fell from 6.00% APY to 5.6% APY as FNBO's savings promotion ended.  Other banks in the Top 10 also dropped rates.

Last week's Index: 5.54

This week's Index: 5.44

The BestCashCow Savings Rate Index is an  average of the top 10 rates on the BestCashCow Savings Rate Table.  The  index helps you track the direction of bank savings rates and compare them to previous periods. We'll be adding additional historical data shortly and updating it weekly.

To see all rates, please visit the BestCashCow Savings Rate Table.

Ari Socolow
Ari Socolow: Ari Socolow is the Chief Economist and Editor-in-Chief at BestCashCow. He is particularly interested in issues relating to financial literacy and bank transparency. Since co-founding this website in 2005, Ari has been frequently cited in the media as an expert on local and national savings accounts, CD products, mortgage and loan products and credit card rewards products.


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