Marcretire
Dryer sheet aficionado
- Joined
- May 8, 2008
- Messages
- 32
Hi, I love this forum. Would appreciate your advice on this situation. I have about $125,000 in an ING savings account, earning about 3.4% APY. I like ING, however, Capital One, in conjunction with Costco, is offering 3.7 APY for their savings account. ING's 3.4% rate is the highest rate, based on maintaining a minimum $100,000 balance. The minimum balance required to earn the3.7% rate is just $10,000. It's also not a teaser rate. You know where I going with my question. Would it make financial sense to shift most of my ING money into a Capital One/Costco savings account to get the higher rate? I'd keep a small amount with ING just to keep my account active, but is it worth the move? Any downsides? Thanks!