August 8, 2008

Millions of consumers now have access to search and compare the most competitive interest rates on mortgages, home equity lines, car loans and more through msnbc.com’s new partnership with Bankrate.com.

On selected stories and pages throughout the business section of msnbc.com, readers will find information, which is updated nightly, with the latest rates in five categories:  Mortgage, home equity, savings, auto and credit cards. By going to Bankrate.com, consumers will find a co-branded page with information on the latest rates for the selected products. They can also find tips, calculators and personal finance news from the team at Bankrate.

"We chose Bankrate.com to provide a solution for this vital information because Bankrate is known for providing clear, objective and unbiased information on rates," said Martin Wolk, business editor, msnbc.com.

Bankrate surveys nearly 5,000 financial institutions daily for rates on more than 300 financial products, including mortgages, certificates of deposit, auto loans and credit cards. Rates are submitted by financial institutions, then checked by a team of researchers including "mystery shoppers" who verify that the advertised rates are truly available.  Banks that fall afoul of a "three strikes" policy are ejected from the system and must resubmit their documentation to be readmitted.

"Everything we do at Bankrate has the consumer foursquare in mind," said Bruce Zanca, Bankrate's senior vice president for marketing and communications. "What we endeavor to do is to give consumers the information they need to make better-informed decisions about their personal finance matters — particularly in regard to savings and debt."

As part of the arrangement, msnbc.com will feature occasional articles written by Bankrate.com's award-winning team of personal finance writers.

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