High interest savings accounts seem to be dropping fast. Some comparison stats

by akwilliamson

I opened a high interest savings account last year with Ally and have seen it do nothing but drop with reserve rates decreasing. I tracked all my rate change emails over the last year or so and documented the following:

  • 05/21/19 – 2.20%
  • 06/26/19 – 2.10%
  • 08/05/19 – 1.90%
  • 10/10/19 – 1.80%
  • 11/13/19 – 1.70%
  • 12/20/19 – 1.60%
  • 3/13/20 – 1.50%
  • 5/12/20 – 1.25%
  • 6/11/20 – 1.10%

I’m curious how others are faring with high interest savings accounts. Similar? Different? Thinking about jumping ship into something else.