As I mentioned in my latest Net Worth update, my savings and free money borrowed at 0% interest are earning 3.75% APY now, thanks to a recent uptick in the Presidential Bank Premier Savings Account (mentioned previously). In addition, the money in my checking account there (Presidential Bank Checking Review) is now earning 3.5% APY. This is good news for people like me who are saving up for a downpayment in the future and not trying to get a low low mortgage rate right now. At 3.75%, my current cash holdings of $58,000 would earn $2,175 a year. Not bad, hopefully inflation will stay at bay as well.
By Jonathan Ping | Banking | 7/17/05, 11:20am