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Interest Rate - It Never Hurts to Ask for a Higher One

January 11th, 2007 at 09:06 am

When making a deposit at our local branch yesterday, I inquired about the current interest rate on our MMA. I was disappointed to see that it had just dropped 0.35%. I talked to the bank manager and said we'd have to close that account if the rate is so low; she said she would call someone higher up in the organization to see if they could keep our rate at the higher rate. I have a feeling that they are going to say no because it is a such a large bank (our deposit is peanuts to them).

However, I have successfully negotiated higher rates with smaller local banks, especially on CDs. So, it never hurts to ask for a higher rate.

Also, don't be afraid to take your business elsewhere.

1 Responses to “Interest Rate - It Never Hurts to Ask for a Higher One”

  1. Aleta Says:

    There are some banks for instance Wahington Mutual that will show you what they are paying online. You don't have to call or go in to the bank. But, for the specials, you do have to call.

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