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natofborg

Savings Accounts %

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natofborg

I started a small online only savings account where I deposit my survey money. After a lot of searching, the two best interest rates I found were: DCU offers 5% on the first thousand, and All America Bank offers 2.25% on their money market.  I think both were five bucks to open the account. 

 

Does anyone know know of any banks that offer equal or better rates?

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footfree

You could do a online savings their interest rates are better  then banks and credit unions.Just google online banking for savings.I use to have one with HSBC that paid 5% interest .Now it's like 1.75 man is that a big bummer.

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footfree
23 hours ago, NFriday said:

Have you looked into ally bank?

I was able to read a few reviews on ally and some were good but the majority were bad.Not sure I wan to do business with them.

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natofborg
On 8/8/2018 at 11:16 PM, NFriday said:

Have you looked into ally bank?

Yes, Ally is. currently offering 2.4%

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footfree
7 hours ago, natofborg said:

Yes, Ally is. currently offering 2.4%

In the reviews some said that it a limited offer and lets say you do a transfer but they put a hold on it  for 2 to 3 days and by the time it gets deposited the offer is out dated.Most said it was a bait and switch type offer.Capital one is doing a real good offer themselves.

IRA Raise Your Rate CDs

over at Capital one its 2.50 % just like Ally - I would look into the Roth IRA myself- do not have to pay taxes on it when it's time to take out in retirement- In fact Capital One has some comparable rates.

Plus the Feds are thinking of raising interest rates which is good for those of us who like to save money.Not necessarily for those who like to buy homes or cars though.

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natofborg

Right now, I’ve just started saving. What I really need first is an emergency fund that I can have quick access to—then an IRA is next on my list

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footfree
2 hours ago, natofborg said:

Right now, I’ve just started saving. What I really need first is an emergency fund that I can have quick access to—then an IRA is next on my list

Well for savings this is what I saw on the internet High Rate: Synchrony Bank – 1.85% APY, no minimum balance

Over at my local credit union I got the IRA savings and the first 1000 is 5% and then .40 on any money after that.

FYI   Money market funds are not insured by the FDIC or the NCUA, which means you could possibly lose money investing in a money market fund.

So that old adage of slow and steady wins the race might apply here.So while 1.85 is not 2.25 it is still not a bad thing.

Googling the best online rates for savings is good .Or like my credit union they have a financial advisor that is free to the members.

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