Following in the footsteps of pretty much every other bank recently, E*Trade Bank has decreased the interest rate of it’s online savings account to a paltry 1.95%, a strong competition for one of the lowest rates among primarily online institutions.
It’s stock price has nearly been cut in half in recent weeks, and the banks actions are showing signs of this. All references to it’s popular “8x the National Average!” marketing slogans are now absent from the website.
What do you think? Will we see 1% interest rates from the popular online institutions in 2009?
