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Agree with Emigrant Direct but also consider US I bonds if you do not need the interest payments now and can lock up the funds for at least a year. (currently 4.8% and secure as secure can be)
Agreed, Emigrant Direct is offering the highest yield right now for MM accounts. I normally look at bankrate.com for the best yield. Go to www.bankrate.com , then click on checking/savings, Then MMA/Savings accounts, then Search by 100 highest yield, or if you prefer by state. Then it shows a list of the top yield as well as minimum balance, etc.
Many times I found that my local banks offer better rates than what I find on bankrate.com.
When I am ready to buy a CD, I just research the rates of a dozen or so local banks and they usually have a special that beats the bankrate rates.
This has been my experience as well. I check bankrate.com but have never
failed to meet or beat their "BEST" rates on CDs and MMs within
my
local area.
A question -* *it seems to me that 28-day t-bills are paying more than our local banks, and for smalller increments.*
If this is true, why choose a CD?
Or do I just have bad rates at my local banks?
Bad banks.
Perhaps credit unions in your area will offer a better deal, or any of the popular online accounts mentioned here. Your local CUs want your money-- Oahu alone has 97 different CUs and I'm eligible for membership in at least a dozen of them just by being a state resident. Even the ones catering to the military will frequently welcome you if you have a military relative or make a donation to a military charity. The rules are on their membership pages.
Then there's Pentagon FCU, Corus, & ING. Search for those terms among the old threads (or check their membership requirements) and choose one that makes you comfortable.
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Are there any other catches to those US gov't Series I-bonds? I looked into them, and other than having to lock it up for a year, and having to pay a 3-month penalty if you redeem it within 5 years, it seems like a good deal. I currently have some money at Emigrant, but thought about putting some into some I-bonds. Only down-side is that I like being able to have easy access to the Emigrant account, even if I never touch it. And so far, I've been a good boy...haven't touched it yet, except to add more money!
Are there any other catches to those US gov't Series I-bonds?* I looked into them, and other than having to lock it up for a year, and having to pay a 3-month penalty if you redeem it within 5 years, it seems like a good deal.* I currently have some money at Emigrant, but thought about putting some into some I-bonds.* Only down-side is that I like being able to have easy access to the Emigrant account, even if I never touch it.* And so far, I've been a good boy...haven't touched it yet, except to add more money!*
I bonds are good. CDs have been yielding more in our tax bracket but I wouldn't hesitate to jump on an I bond if the yield was right.
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