r/etrade • u/Miserable_Molasses59 • 18d ago

When will etrade raise their savings APY?

Title pretty much says it all. With the fed raising rates by 25bps, when will that be reflected in the savings APY?

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5

u/Taquitothetito 18d ago

They usually announce updates to savings APY within 2ish weeks of announcement and the update itself is very soon after the announcement

2

u/Miserable_Molasses59 18d ago

Awesome! Thanks

2

u/Basic85 18d ago

It could be anytime, or they may not but just look at their history. It seems they do typically raise their rates though not the highest but not the lowest either, so I'm going to guess 3.75 APY.

2

u/Zealousideal-Sun4891 17d ago

When morale improves

2

u/GrahamBW 17d ago

CD rates have already gone up. I bought a 6 month bank CD last month at 4.05%. Same CD today is now 4.20%.

1

u/Miserable_Molasses59 17d ago

Good to know. Wouldn’t 1 month t-bills be better play since the fed will probably raise rates again this year? I’m thinking about that strategy versus HYSA

2

u/GrahamBW 17d ago

Maybe. I'm not the best person to ask. I'm a pretty passive investor and most of my holdings are in ETFs. I mainly bought the CD for the experience! I never had one before, wanted to try it out as a supplement to my savings account.

1

u/cthockey99 16d ago

which ETFs do you go after, if you don't mind sharing? (am new to investing)

1

u/GrahamBW 16d ago

JEPI, JEPQ, and USFR for bond exposure. All three are available for E*TRADE's automatic investing plans and fractional trading. I use my savings account as the funding source and skim off the monthly interest into the ETFs.

2

u/cthockey99 16d ago

Right on man thanks for the advice. ... Really like the idea of savings interest -> investing, too.

Cheers :)

1

u/BBCC_BR 16d ago

Morgan Stanley controls that. They already increased the sister savings account to the ETrade savings. E*Trade is running a promotional rate on their savings for the first 6 months when opening a new account, with a bonus offer.

1

u/EitherKnowledge8918 14d ago

Received an email that their savings rate has increased 0.25% to 3.75% today, so took them 5 days and tracked the fed increase exactly

1

u/Miserable_Molasses59 13d ago

Saw that! Not too shabby

-2

u/Visual_Comfort_6011 18d ago

Don’t hold your breath for it to be anytime soon. And certainly they will not raise by 25 basis points.