Ok............Emigrant Direct, Vanguard, or who else for a good rate on $10,000?

[FinanceDude]

No CD's...........ideas

 

[LOL!]

I picked Vanguard Prime MM. It's easy to move to one of my Vanguard funds or to my checking account. I see no reason to go to ED.

Other places to look are Citibank, HSBC, CapitalOne which all have online savings accounts in fives, I think.

 

[brewer12345]

E-loan.

 

[justin]

Re: Ok............Emigrant Direct, Vanguard, or who else for a good rate on $10,

Financedude,

The vanguard account is a good one to have if you also have other accounts at vanguard since you can shift money easily without waiting a couple days for money to transfer to buy new securities.

Where's the $10,000 from? Bonus time?!! We just got the $3000 annual match for DW's 401k dropped on us out of the blue yesterday. Nice little surprise!

 

[maddythebeagle]

I have also been using eloan...and 2nd HSBC....Eloan only allows you to link 1 external account but apparently can start a 2nd account.

 

[tednvon]

Hmmm, how times change...I went with Emigrant about a year or so ago and it seemed like likes of folks here did also...

I have had no problems whatsoever with Emigrant. I go online, request a transfer every month to checking and it shows up in about 1-2 days...they did drop from 5.15 to 5.05.

Just curious if I have missed a big reason to switch to another online resourse??

Thanks...Ted

 

[FinanceDude]

Re: Ok............Emigrant Direct, Vanguard, or who else for a good rate on $10,

Where's the $10,000 from? Bonus time?!! We just got the $3000 annual match for DW's 401k dropped on us out of the blue yesterday. Nice little surprise!

No, not a bonus.........life insurance policy from sister.........

 

[mickeyd]

These are all great places to stick your ST cash and they are all generally pretty safe etc. I doubt that it is such a good idea to chase ST interest rates that are only 5-10 pb more than another MMF or online bank.

Chose one. Stick with it.

 

[Patrick]

Eloan savings is at 5.5%: www.eloan.com

Presidential checking is at 4.5%: www.presidential.com

 

[tednvon]

Thanks, I agree with mickeyd...chasing an extra .10 to .40 percent is just not worth it with less than 70K in the account. I plan to draw about 30K/year from this account while phasing retirement and I keep second guessing having a 1-2 two year CD, but again, for the few percentage points difference, this is totally liquid, easy to access, and no complaints...

Thanks again for all the wisdom here...Ted

 

[jazz4cash]

GMAC Bank is...........5.3 APY on MM Savings

 

[d]

it certainly doesn't make much sense (but does make some cents) to chase MM yields if the differential is minimal, but the rate leaders do evolve ... ING, Emigrant and Virtual bank are no longer the first choices they once were! point: you can't stick with one bank for ever, need to anticipate some evolution if you wish to get near-best returns. that said, VMMP is a clear all-things-considered winner.

 

[Andre1969]

Re: Ok............Emigrant Direct, Vanguard, or who else for a good rate on $10,

I think $10,000 is about what I still have in my Emigrant account. I did have more, but then I paid down the HELOC once the interest rates started shooting up, and also paid off a car loan.

I've been happy with them. It's interesting though, how things change. I don't think I'm going to start chasing money market yields unless I get a substantial amount back in there.

 

[mickeyd]

I paid down the HELOC once the interest rates started shooting up, and also paid off a car loan

Excellent move Andre. Why pay interest to banks while you earn much lower rates on your cash?

 

[Dry Socks]

Re: Ok............Emigrant Direct, Vanguard, or who else for a good rate on $10,

E-loan.

E-loan is playing an interesting game:

15 Year Fixed Mortgage 5.625%
1 Year CD 5.55

They must expect rates to drop in the future.

 

[Buckeye]

My Emigrant transfers show up the same day in my Schwab checking account. No waiting.