If you have money just sitting in your Checking account and scared to invest it in the stock market, the rates are low right now, but here is a list of what's best.
Don't forget FDIC insures up to $250,000 per insured bank
Savings Accounts ( Can Pull Out Money Anytime )
Money can be pulled out anytime, but rates can be lowered anytime too
- Everbank - 1.4% (only for first 6 months)
- Synchrony Bank - 1.05%
- iGoBanking - 1.0%
- Barclays - 1.0%
- Bank of America - 0.01% ( don't consider )
Certificate of Deposit CD - ( Cannot Pull Out Anytime )
If you don't mind keeping your money in the bank for a certain time, CD (Certificate of Deposit) would give you a slightly better rate and rates will not change for that time period.
1 Year - eloan - 1.3%
18 Months - Synchrony - 1.50% (Use 5 Years and close after 18 months)
2 Years - Synchrony - 1.69% (Use 5 Years and close after 2 years)
3 Years - Synchrony - 1.88% (Use 5 Years and close after 3 years)
4 Years - eloan - 2.0%
4 Years - NASA CU - 2.15% (49 months)
5 Years - eloan - 2.45%
7 Years - Vanguard - 2.70%
10 Years - Vanguard - 3.00%
Foreign Currency CDs
You can put money in foreign currency CDs or invest in metal to protect yourself against the USD losing value
- EverBank.com Foreign CDs ( min $10000 )
This one is riskier. There are some tools online that lets you loan money directly to borrowers without the bank in between. They range in rates from 5-12%. If many people fail to pay their loans, you can lose money on this.
If you believe in the future of Bitcoins, coinbase makes it easy to buy Bitcoins. The fee is 1% to buy bitcoins.
- If you know any better rates, please let us know here