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  1. #1
    Spoofee.com! Spoofee's Avatar
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    Ad Best Savings and CD Interest Rates

    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 )

    Lending Money
    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.
    - LendingClub
    - Prosper

    Bitcoins
    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
    Last edited by Spoofee; 08-24-2015 at 04:43 AM.
    Thank you for using Spoofee.com

  2. #2
    L4 Member Zibiah's Avatar
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    wow this was an eye opener!

  3. #3
    Spoofee.com! Spoofee's Avatar
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    Interest rates are slowly creeping back up, might want to hold off just a tad bit

    Savings Accounts ( Can Pull Out Money Anytime )
    - ufb Direct - 1.25% (min $5k)
    - EverBank - 1.01% (min $1.5k)
    - Bank of America - 0.05% ( 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.
    6 Months - Ascencia - 0.87%
    1 Year - Ally Bank - 1.02%
    2 Years - iGoBanking - 1.2%
    3 Years - Alliant - 1.35%
    4 Years - Alliant - 1.65%
    5 Years - Mission Federal - 1.95%

    Foreign Currency CDs
    With the government printing a lot of money lately, fear of inflation is roaming around. You can put money in foreign currency CDs to protect yourself
    - EverBank.com Foreign CDs ( min $10000, protected by FDIC )
    - Commodities (gold/silver) are also recommended

    Misc
    - Discuss other Financial Tips here
    Last edited by Spoofee; 08-17-2013 at 04:42 AM.

  4. #4
    Spoofee.com! Spoofee's Avatar
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    or if you are, just don't do any longer term ones (2 years)

  5. #5
    Spoofee.com! Spoofee's Avatar
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    I have to do more reading, but this 5 Year MarketSafe Evolving Economies CD sounds tempting. There is a chance in 5 years, you'll get nothing...
    https://www.everbank.com/investing/m..._-marketsafeEE

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    L7 Private JohnBeas's Avatar
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    You might also look at your local banks and credit unions. Lake Michigan Credit Union offers 3% interest on their checking account. You do need to use your debit card 10 times a month and log into your account 4 times a month but its the best rate I've been able to find (account interest is limited to $15k balance). This is obviously a local deal but I've seen (on the internet) other deals which are similar.

  7. #7
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    For all the CDs option, consider implementing a CD ladder. Search 'CD Ladder' in your search engine of choice. :o)

  8. #8
    L4 Member RHQ's Avatar
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    you can get a prepaid credit card at www.mangomoney.com
    Once you have direct deposit set up you'll get 6% interest in your savings account up to $5,000. If you choose not to use direct deposit you'll still get 2% interest.

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    L9 Corporal upx1's Avatar
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    Great info, thanks!
    FYI - I just invested in a CD through Vanguard Brokerage services - 5-years @ 2.4% at the State Bank of India in NY, FDIC.

  10. #10
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    Thanks Jennifer, I've had my Synchrony account for over a year now and have been very satisfied with their service.
    You can bank by mail or link other accounts which adds convenience.
    My risky closed end funds currently yield a nice 9%, which pays all my monthly bills. At 66 I'm not worried if their value goes down.
    Money talks, nobody walks.

  11. #11
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    Interest rates are VERY slowly creeping up. Problems in China and Greece may hold the Fed back from raising rates as soon as they hope.

  12. #12
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    i've lost quite a bit of money on Prosper. The interest rates are great, but the number of defaults makes it quite risky.

  13. #13
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    If you have investment money sitting around a CD or money market account is the absolute last place you want to put it. Only a fool would recommend a CD or savings account as any form of investing. Even the most conservative mutual funds are returning 5, 6, 7 %

  14. #14
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    shouldnt we be focusing more into roth ira and/or 401k since more likely than not social security will not be available by the time we retire?

  15. #15
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    - EverBank.com Foreign CDs ( min $10000, protected by FDIC )

    THIS IS NOT FDIC INNSURED

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