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Saturday, May 21, 2011

The New Google Advisor Is Your One-Stop Source For Financial Products.

Image representing Google as depicted in Crunc...Image via CrunchBaseGoogle has launched a website where you can get information on mortgage, credit card, CD, or checking and savings accounts. This type of information has been the life blood of many personal finance blogs for many years. Now here is a one stop place to get all types of financial products.

We’ve all experienced the hit and miss associated with comparing financial products such as mortgages or credit cards. Often information is presented in an incomplete or otherwise opaque manner, and comparison between businesses and offers is confusing. Google has taken up the challenge of simplifying the process by creating a new service, Google Advisor, that makes it easy for users to compare products side by side.

Quote from the Official Google Blog

Financial decisions may be some of the most difficult decisions we face—whether it’s finding the right credit card or understanding the impact of paying an extra point on a mortgage. And these days, it seems like we have more financial options than ever.To help solve these problems, we began testing a mortgage comparison tool in 2009 and have added other financial products such as credit cards, CDs, checking, and savings accounts. Today, we’re rolling these tools into one place: Google Advisor, a site designed to help you quickly find relevant financial products from many providers and compare them side-by-side. Google Advisor is currently only available in the U.S.
Mortgage Results Page


I tried out the Mortgage function by entering my information. I clicked on refinance. Then value of the home, mortgage balance, cash out, loan type, and points. My state, county, home type was already entered magically. I was given 21 results. The list consisted of mortgage lender, interest rate, APR, Fees, points, and Contact details. As I enter different details the page updated dynamically. If I found one I wanted to pursue the contact details had links to email or phone numbers, and hours of operation. Overall a very thorough and well laid out page.

Credit Card
 Results Page

The Credit Card section results was divided by balance transferred, Intro purchase APR, Cash back, Air Miles, And Points. There was a total of 87 credit cards offered on this page. It states on the page that Google receives no commission from when you click on an offer. Also that the credit card information is updated twice a week for accuracy. The credit card results page can be sorted by intro APR, Ongoing APR, Annual Fee, and Reward Type.

CD
 Results Page

The CD section results allows you to enter the amount to deposit, maximum term,and account type. Whether it's a regular account or an IRA. The results page is divided up into columns APY, Minimum Opening Balance, Term Length, Actual interest earned for the term, Early Withdrawal penalty, and Apply details. There is a link to apply online.

Savings
 Results Page

The Savings Section asks for savings amount, regular savings or money market, and zip code. The results are displayed by name of institution, APY, Minimum to open, Monthly fee, Interest earned, and details with a link to apply online.

Checking Results Page

The Checking Section wants your initial deposit, a check box for no monthly fee and interest checking, and zip code. There is a check box if you want to exclude Internet only banks. The results give you Bank name, APY, Minimum, monthly fee and details with an apply online link. In the checking and Savings account section you can also search by a specific bank.

Again, Google is saying they receive no compensation on the credit card, CD's, checking, and savings applications. But on the mortgage page, Google does admit they get paid when you contact a lender through the site.

I like the overall experience of Google Advisor. It's laid out well for navigation. The search results are many. I also especially like the link to apply for the products, it takes you to the actual site to make an online application, making the application progress almost painless.

The only other competition to Google Advisor is Bankrate.com. Bankrate.com has more bells and whistles than Google. But I'll have to give it to Google for an easier to navigate interface. Bankrate's interface is a little dated and could use a little modifying.

Give Google Advisor a try. advisor.google.com

1 comment:

  1. the google advisor seems like a solid place to compare financial instruments. thanks!

    ReplyDelete