[ino_tenten]

Hi guys

I guess by now alot of us are saving up money

I was wondering for your savings account which bank is the best?

Most banks have simular percentages/rates and all

but which bank would slightly give you more when each yr comes and u havent touched your money??


Thanks guys

[masturyan]

Can't you just research a bunch of banks? They give out all the interest rates, etc...

[HERMIT]

^
Yeah, just check out Bankrate.com

[x0ny]

I've used e trade for a couple of years now, they helpful and reliable so far haha. It also ties with my brokerage account so its quite easy to transfer money too.

[rwong]

Hi i had read about ur post about putting money in the bank. normally the banks gives around 2-3 percent return rate but why put the money in the bank when u use that money to invest it is way more better. but dont invest in 1 company for example if u have 1 bux invest that 1 bux into like 50 company better to have 50 eggs in 50 basket in stead of it in 1 basket guess what if that 1 basket drop all ur egg will break same as investment lol hope this helps.

[[HyuNi]]

If you don't plan to use that money and you have it just sitting around in a low APY savings account, I would suggest you put that money in Certificate of Deposits.

CDs are great because they usually earn a better APY % than regular savings accounts
They guarantee a certain % of return and involve very low risk
FDIC insured (money secured by the Federal Depository)

Just to remind you, CDs are held for a certain amount of time (usually 1 year) and have HUGE penalty fees if you decide to withdraw early.

http://cdrates.bankaholic.com/

Before you choose the bank which offers the highest APY, make sure you research the bank to see if it fits your needs. Some may charge monthly holding fees or there may a location which is just uncomfortable to you.

Personally, the ING 1 year 4.00% APY looks like a good deal from a well respected company.

[HSuke]

I've used e trade for a couple of years now, they helpful and reliable so far haha. It also ties with my brokerage account so its quite easy to transfer money too.

They're the ones that kept posting those I-just-bought-200-shares-of-Shang-Dao-Energy-on-the-Hong-Kong-index-OMG-That's-China!?! commercials. Eww.

All the bank rates are terrible now. They were around 4-5% a little over a month ago. Wherever you invest your money, you gotta be careful about the bank defaulting. Even though your money is FDIC insured, it takes a long time to get it back.

[akira53]

If you don't plan to use that money and you have it just sitting around in a low APY savings account, I would suggest you put that money in Certificate of Deposits.

CDs are great because they usually earn a better APY % than regular savings accounts
They guarantee a certain % of return and involve very low risk
FDIC insured (money secured by the Federal Depository)

Just to remind you, CDs are held for a certain amount of time (usually 1 year) and have HUGE penalty fees if you decide to withdraw early.

http://cdrates.bankaholic.com/

Before you choose the bank which offers the highest APY, make sure you research the bank to see if it fits your needs. Some may charge monthly holding fees or there may a location which is just uncomfortable to you.

Personally, the ING 1 year 4.00% APY looks like a good deal from a well respected company.

I suggest a time deposit as well. They usually have higher interest rates than regular savings accounts.