High interest savings accounts
- Thread starter baller21
- Start date
They have to be taking a little more risk with the money to get these rates. I will think about one for my business but there is such a thing as the rate being "too high".
Apparently a lot of people are trying to get on the Ally bandwagon. I applied for a savings account on Monday and still haven't received an answer. I was assuming I could get it done online immediately like I've done on every other online bank.
I've been looking at the Vanguard Prime Money Market VMMXX lately and probably going to move my savings to that soon. I currently have the Capital One 360 savings after they bought out my ING Orange account years ago. I don't know what happened recently but it was earning 2% just a month or 2 ago and now it's down to 1% which makes no sense after the fed raised interest rates at the end of the year. It's a pain to have to move savings around because some of these places fluctuate their rate so much but that Vanguard fund looks like it has a pretty solid track record.
Leaning this way myself. The rate-chasing and research to separate actual rates from promo rates seems like it would get real old real fast. It makes a ton of sense especially if you're already with Vanguard.
I love Discover because they were the first to give me a credit card after I graduated from college. They've been very responsive any time I had an issue. And I really like not paying for things I order from Amazon because I use the Discover cash back rewards for that.
However, for this thread I'll just mention Greater Iowa Credit Union's checking account that pays 3.04%. Of course there are requirements like a direct deposit, some bill pays and debit card usage. But, we were doing all of those when we had a regular checking account there, so just switching the type of account gave us a higher rate.
However, for this thread I'll just mention Greater Iowa Credit Union's checking account that pays 3.04%. Of course there are requirements like a direct deposit, some bill pays and debit card usage. But, we were doing all of those when we had a regular checking account there, so just switching the type of account gave us a higher rate.
Yeah I have an IRA with Vanguard that I opened up a long time ago to reduce my taxes one year. Just did a 1 time deposit into it and haven't touched it since and it's more than doubled in value. The Iowa 529 college savings is also a Vanguard fund I believe and it's done pretty well so would hope their money market funds are pretty stable earners too.
This is exactly why I'm looking at Ally. Although, I did move from Cap One savings to a money market account to get it back up to 2% but I'm really annoyed with them.
I have a cap1 360 MM and Checking, I have switched to ally a few years ago and need to close the cap1 accounts. I have no regrets switching to Ally. Customer service between the two is about the same, I've had excellent service from both but Ally seems to be more available 24/7.
Ally does give you free checks where cap1 will charge you $5 per book.
we just opened up a 18 month bump up CD at Veridian with a 2.85% APY. We also use the citi 2x bonus credit card for every day expenses.... think we get about 800 ish bucks back a year.
Looking at their site (and this probably applies to others) but why would someone buy a 6 mo CD at 2.4% when you can just put the money in a savings account earning the same interest?
The savings accounts do fluctuate. Last year I was getting 1.5%. That could maybe be it.
I direct deposit part of my paycheck to a credit union savings account. All my other accounts are with a different bank and available online. If I want to access my savings, I need to physically drive to the CC and withdraw the $.
I tend to be an impulse purchaser and this prevents me from dipping into my liquid savings unless I really need it. I don't even know what rate i'm getting but I know the money I save from the lack of impulse purchases exceeds what I would get in interest from any institution.
I tend to be an impulse purchaser and this prevents me from dipping into my liquid savings unless I really need it. I don't even know what rate i'm getting but I know the money I save from the lack of impulse purchases exceeds what I would get in interest from any institution.
They could just be masters at managing their overhead. For one, if they don't have any brick and mortar branches, that is a savings in overhead.
If you have any concerns, just keep your balance under the FDIC limit. You're balance is essentially fully insured up to that point.
Comparison of Savings Account rates:
https://www.bankrate.com/landing/sa...BPoWRze7AzomSGHNff60P2z63zm7L07saAlL5EALw_wcB
https://www.bankrate.com/landing/sa...BPoWRze7AzomSGHNff60P2z63zm7L07saAlL5EALw_wcB
Wealthfront has a savings account option currently at 2.32%. Was at 2.57% prior to the Fed rate drop.
Use the below link to sign up and we'll both get an additional $5,000 managed for free.
https://wlth.fr/2psYSZH
Use the below link to sign up and we'll both get an additional $5,000 managed for free.
https://wlth.fr/2psYSZH
