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Emigrant Increases Interest Rate to 4.65%

Emigrant Bank, sponsor of the popular EmigrantDirect American Dream Savings AccountTM raised their interest rate today to 4.65%.

Ben Bernanke, the new Chairman of the Federal Reserve, has raised interest rates at every meeting this year. The Federal Reserve is concerned that inflation will get out of control since the economy is performing so well. This is a good time for investors to keep a portion of their conservative money in online accounts like Emigrant as the rates are competitive, continuing to rise, and with the FDIC insurance there is no risk of loss.

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