BestCashCow Savings Rate Index - Sept 24, 2007

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

We're pleased to announce the BestCashCow Savings Rate Index. The index, which is a composite of the top 10 rates on the BestCashCow Savings Rate Table, 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.

Last week's Index: 5.52

This week's Index: 5.54

Rates in the Top 10 stayed fairly steady despite the steep rate cut.  The slight increase from 5.52 to 5.54 was due to the addition of Zions Bank to the index and not any increase in rates.  While several banks cut rates, no bank increased their rate during this timeframe.

It is noteworthy that while the Fed dropped rates by half a percent last week and individual banks have cut rates, overall savings rates have remained steady.  

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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