Finding the Highest Yielding Savings Account
So, I was listening to an officer tell some of my new troops that you have to open a savings account because checking's accounts don't pay you interest. I asked him how much interest he thought he was getting with his savings account. He said probably 1 - 3% so we looked it up. It turned out he was getting only .02% yield and he was being charged $8 every quarter for not having a $3000 minimum. I had to educate.
I told him about high yield savings accounts and how they are offering up to 6% interest. If you go to EMoneyCentral's site or Bankrate you can easily search through the top high yield savings accounts. These savings accounts have a two-to-three day lag between withdrawal times, so if you are constantly dipping into your savings, then these aren't the investment for you. It's a great place to store extra cash...like your emergency savings account money.
Disclaimer: The provided link is a paid advertisement.
I told him about high yield savings accounts and how they are offering up to 6% interest. If you go to EMoneyCentral's site or Bankrate you can easily search through the top high yield savings accounts. These savings accounts have a two-to-three day lag between withdrawal times, so if you are constantly dipping into your savings, then these aren't the investment for you. It's a great place to store extra cash...like your emergency savings account money.
Disclaimer: The provided link is a paid advertisement.
Labels: payperpost
posted by Money for Military at 5:32 AM
2 Comments:
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