Orange ING has dropped to 3.59% (3.65% APY)... I am so spoiled by when it was over 4%! Still better rates than my local bank.

Luckily, interest rates have gone down on purchase loans as well. We will have to refinance if this house doesn't sell soon!

What are your (liquid) savings account(s) bringing in right now?

I purposely keep very little money in my savings account because the interest is soooooo looooowwww that the taxes I pay on the interest make it not worth it to even get the interest. Last year I forgot to put my interest amount on my tax program until the end so I literally saw the amount of tax go up with the interest. I paid over one third of the amount in taxes! I listen to Dave Ramsey sometimes Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan.
and he tells people not to get CDs for example unless they are elderly for that very reason.

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The political system is broke and it's a joke.

my personal ING is the same rate as yours. My business ING is at 3.929% (4.00% APY)

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Proud to say I haven't shopped at a Wal-Mart since Sept 2003

My online HSBC savings account is currently paying 4.25%.

Annadrose, what does Dave Ramsey recommend as liquid savings? In my way of thinking, iterest compounds enough over the years to compensate for taxation.

We have various money market accounts, stocks, savings bonds (from an elderly aunt), and other savings type investments but all of them earn interest, all are taxed (except for Roth IRA which will be taxed upon maturity), and none are very liquid -- they carry $$ penalties for early withdrawal...

What are the other options? If we pay down our high interest loans, we will not have cash available and I certainly don't want to take out any more loans (ie home equity).

Kelly... HSBC seems to historically had about 0.75% higher interest yield then ING. I wonder why we don't hear more about it? Is it FDIC insured?

Smurf... that is good that your business account earns better.

I am happy to get this rebate check from the federal government but then I start looking at the higher price of gas and groceries, lower interest on savings, etc. and I think... why not handle things differently?

Thanks for the responses... I am always looking for the best place to put our money. I don't coupon much anymore and this is my justification! LOL.

Yes, it is FDIC insured.

Unfortunately, however, I just got an email today that the rate has dropped to 3.8%. Still better than "regular" savings bank rates, but not as good as it was

I have no interest in getting CD's, so I guess I'll stick with HSBC.

Why? With some of the specials, CDs can earn much more interest.

Speaking personally... not wanting to put words in KellyJef's mouth (!) but CD's carry penalties for early withdrawal.

DH's paychecks go automatically into Orange ING and then I'll manually transfer back to my regular checking account at my local bank (online) prior to bills coming due OR have some payments debited automatically from Orange Savings (ie mortgage payment).

You do not have this liquid flexibility with CD's.

LOL, you "put words in my mouth" perfectly: that is exactly why I'm not interested in putting money in CD's

Stocks, bonds, etc are suggested for long term investments. Interest bearing savings accounts are not intended to be long term investments. Money in the bank is there for short term needs like emergencies and should be easily accessible. The interest rate is so low that it oftens catches up with you on the other side with taxes.

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The political system is broke and it's a joke.