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Opened my e-loan account last night

October 10th, 2006 at 07:51 am

So after careful consideration, I opened an E-Loan savings account yesterday. I am waiting for the few cents to be deposited in my current savings account for verification. Does anyone know how long this should take?

I told my husband a few days ago I wanted to do that. We have a savings account, but we always take a few dollars here, a few dollars there from it. We went over our grocery budget? We went to Target and bought something really great that we didn't really need? Let's just transfer the money from the savings when we get home. I decided we needed something where the money was easily accessible, but not as accessible as we currently have it. E-Loan offers great APY (5.50% for those who have been living in a cave... just kidding!). A tad better than Sovereign Bank's 0.25% (yes, it's 1/4%), which amounts to less than $1 every month.

When we close on the house on the 26th and the movers, the closing costs and all those little extra expenses we did not think about are paid, I'll transfer what's left over to E-Loan.

2 Responses to “Opened my e-loan account last night”

  1. yummy64 Says:

    Way to go on opening the savings account. I know having a savings account that isn't too easily accessible works for me too - otherwise its too easy Smile

  2. Broken Arrow Says:

    Yeah, I admit that my last savings account was also too easy to access (less than 24 hours!)

    Well, here's to hoping that e-loan will hold up their high rates for a while!

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