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Best savings rate?

Rodger Wilco

Well-Known Member
#1
Anyone know of an savings account available that pays anything better than 3% interest? Before you laugh, you should know it does exist.
I am currently getting 3% in a credit union savings account but have maxed out the limit and I need somewhere to park cash until I am ready to use it.
I have a friend getting 4% on a savings but it is only available to residents of Wyoming or something like that.

Why not put the money in the market you ask? Well, I am saving for a wedding and down payment on a house and I need the money to be liquid. The wedding is next year and I can't risk not having the funds should the market dip (or dive!).

I am open to other sugestions,municipal bonds, CDs or something, I just don't want to take a loss. Any Ideas?
 

jynxyjoe

The Kickin' Chicken!
#2
Anyone know of an savings account available that pays anything better than 3% interest? Before you laugh, you should know it does exist.
I am currently getting 3% in a credit union savings account but have maxed out the limit and I need somewhere to park cash until I am ready to use it.
I have a friend getting 4% on a savings but it is only available to residents of Wyoming or something like that.

Why not put the money in the market you ask? Well, I am saving for a wedding and down payment on a house and I need the money to be liquid. The wedding is next year and I can't risk not having the funds should the market dip (or dive!).

I am open to other sugestions,municipal bonds, CDs or something, I just don't want to take a loss. Any Ideas?
If you give your money to me in the Jynxyjoe Private Bank and Rug Emporium, I will give you and any other JC'er 9% returns!
 

gotWXdagain

Highly Visible Member
#4
I have an exciting investment opportunity for you! My fund tracks low cap startups with high earning potential and right now is generating an APY of about 23%!
 

Cessnaflyer

Wooooooooooooooooooooooooooooooo
#8
You could check in to Series I savings bonds.

Can't withdraw for 12 months, but essentially liquid after that. $10k max per calendar year. Pays close to 3% interest, tied to the rate of inflation.
With those you have a 3 month interest penalty if held for less than 5 years. Not a huge deal but something to take into account when calculating gains.
 

adk

Steals Hotel Toilet Paper
#9
@Rodger Wilco check out Lake Michigan Credit Union ... they have a “Max Checking” account that pays 3% provided you have a monthly direct deposit (any amount ) and make 10 debit card purchases per month. I think you have to make a $5-10 donation to one of their charities to join if you’re not from their area.
 

Rodger Wilco

Well-Known Member
#10
Actually @adk, Lake Michigan is the credit union I currently have maxed out. Im looking for another one of those!

I have been looking at buying low risk stocks that pay dividends. My dad holds stock in a utility compay that always pays a dividend and rarely looses money. The stock doesn't really grow much but it doesn't crash hard either... Im not sure what to do really.