Many banks and brokerage firms are now offering higher savings rates that we have not seen in a few years. For example, Emigrant Direct offers a rate of 5% APY for savings accounts. They do not require a minimum balance and do not charge fees. This is better than a CD because your money is not tied up for a set number of months. Schwab and eTrade offer good rates for three- to six-month CDs. I'm sure other institutions are offering very good rates these days. These are just some of the ones I'm aware of.
Note: My favorite blogger, 2Million, has some complaints about eTrade. You might want to check into that and other complaints before you put your money there.
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1 comment:
Good info, keep going.
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