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Banking Advice Needed.

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Banking Advice Needed.

Old 08-21-06, 04:12 PM
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Banking Advice Needed.

plain and simple, I have savings in a Bank of New York savings acount earning .62% interest. Or should I say losing 2.38% due to 3% avg. yearly inflation. I am searching around looking at high yield money markets or CD's. I am not sure if I Want to lock into a CD, so I believe MMA would be the way to go I see some such as ING direct offering 4.35%. This is 7 times more then my current interest rate. Anyone have any suggestions or advice?

Just to save time: I will not give you the money, I wil not pee in the butt, and I will not buy your stuff on ebay.
Old 08-21-06, 04:16 PM
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HSBC is offering 5.05% for online savings account.
Old 08-21-06, 04:16 PM
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Dude.....we're not "there" yet.....
Old 08-21-06, 04:21 PM
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Just go HSBC online or ING. Their savings account are making close enough to CD prices now that it shouldn't matter too much. If you want an ING referral... just ask...
Old 08-21-06, 04:22 PM
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Gmac bank is pretty good also
Old 08-21-06, 05:25 PM
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Emigrantdirect.com is paying over 5%.

Both ingdirect and emigrantdirect require no minimum balance, and you are not locking your money in for any specific time.
Old 08-21-06, 06:23 PM
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Etrade has a 6 month CD that pays 5.46% apy.
Old 08-21-06, 08:23 PM
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My local bank pays 5.34 on a money market if you have over $50,000 in the account. May be worth the time to check a few locals as well. I have a GMAC money market that is right at 5% with a minimum of just a few thousand.
Old 08-21-06, 09:24 PM
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I have HSBC and I love it, although it is a pain in the ass to open an account but after that it was great.
Old 08-22-06, 01:30 PM
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Thanks for all the advice, after im done refreshing the otter thread a few hundrer times I'll check these out. Thanks again!
Old 08-22-06, 01:34 PM
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http://www.bankrate.com/gookeyword/r...k_sav_home.asp
Old 08-22-06, 06:20 PM
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Originally Posted by kvrdave
My local bank pays 5.34 on a money market if you have over $50,000 in the account. May be worth the time to check a few locals as well. I have a GMAC money market that is right at 5% with a minimum of just a few thousand.
Wow, it must be nice.
Old 08-22-06, 06:22 PM
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Emigrant Direct all the way.
Old 08-22-06, 06:31 PM
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Originally Posted by Draven
Wow, it must be nice.
Butt.

They can pay more because they save money by not training their staff.
Old 08-22-06, 09:44 PM
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ETrades Money Market checking accounts are paying 5.28% apy right now w/ $1000 min balance. Only drawback is a limit of 6 withdrawals a month, only 3 can be with checks.

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