depositauction by depositoffer

This is a mobile app for getting the best available deposit rates in the US. You need to provide the amount for deposit, the minimum rate that you want and period. The current data from Banks is kept up to date as far as possible. This is a double blind bid process, the banks have no idea who you are until you agree to let them know.

While there are many search engine to find the best rate available, the differences here is to encourage banks to bid for your deposits, this is not easy as banks are reluctant to individualise the process, either because they find there is no incentive to do so or they believe that all their customers should be treated equalled except for the very rich. In effect this is still experimental so I hope to get feedback from users to improve on the experience and to educate the banks.

Secondly it has always been difficult for depositors to find the best available rates due to the different products designed which are not only confusing but technical. I came up with depositoffer.com that puts the depositors on the driving seat and instead of banks dictating the rates, the depositors provide their offer in monetary terms (in dollars or yen so it is simple- see promo video). So the final amount in monetary terms is what the banks have to pay plain. Essentially, deposit offer will able to aggregate the deposits required and get better rates. I also have intention to build loan syndication and social loans which I have US 8,001,035 in the US to complement depositoffer.com