How to Make Your Money Grow Safely

[Spoofee]

If you have money just sitting in your Checking account, let it grow here.

If you are afraid interest rates may fall or that the stock market may go down, it might be a good time to lock down with a CD.

Don't forget FDIC insures up to $250,000

US Treasury

• Treasury Series I Bond - 9.62% (up to $10k per year and funds are locked for a year)

Savings Accounts ( Can Pull Out Money Anytime )

• SoFi Bank - 1.25% (Must setup direct deposit)
• Bask Bank - 1.25% ( No minimum )
• CIT Bank - 0.9% ( min of $100 )
• Popular Direct - 0.75% APY ( min of $5000 )
• Barclays - 0.7% APY ( No minimum )
• Discover - 0.6% APY ( No minimum )
• Synchrony - 0.6% APY ( No minimum )
• Bank of America - 0.04% ( 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 - Merrick Bank CD - 1.26% ( min of $25k )
• 6 Months - Live Oak Bank CD - 1.25% ( min $2.5k )
  
• 9 Months - NASA FCU 1.6% ( min of $10k - need membership )
  
• 1 Year - Fidelity Brokered CD - 2.0%
• 1 Year - Vanguard Brokered CD - 2.0%
• 1 Year - Merrick Bank CD - 1.85% ( min of $25k )
• 1 Year - Live Oak Bank CD - 1.75% ( min $2.5k )
  
• 1.5 Year - Fidelity Brokered CD - 2.4%
• 1.5 Year - Vanguard Brokered CD - 2.4%
• 1.5 Years - Merrick Bank CD - 2.01% ( min of $25k )
• 1.5 Years - Live Oak Bank CD - 2.0% ( min $2.5k )
  
• 2 Years - Fidelity Brokered CD - 2.95%
• 2 Years - Vanguard Brokered CD - 2.9%
• 2 Years - Merrick Bank CD - 2.45% ( min of $25k )
• 2 Years - Live Oak Bank CD - 2.2% ( min $2.5k )
  
• 3 Years - Fidelity Brokered CD - 3.15%
• 3 Years - Vanguard Brokered CD - 3.15%
• 3 Years - Merrick Bank CD - 2.56% ( min of $25k )
• 3 Years - Live Oak Bank CD - 2.3% ( min $2.5k )
  
• 4 Year - Fidelity Brokered CD - 3.2%
• 4 Year - Vanguard Brokered CD - 3.2%
• 4 Years - Merrick Bank CD - 2.56% ( min of $25k )
• 4 Years - Live Oak Bank CD - 2.5% ( min $2.5k )
  
• 5 Years - Fidelity Brokered CD - 3.25%
• 5 Years - Vanguard Brokered CD - 3.25%
• 5 Years - Merrick Bank CD - 2.81% ( min of $25k )
• 5 Years - Live Oak Bank CD - 2.75% ( min $2.5k )
  

Foreign Currency CDs
With the government printing a lot of money, fear of inflation is roaming around. You can put money in foreign currency CDs to protect yourself

• TiaaBank Foreign CDs ( min $10000, protected by FDIC ). You can also buy ETFs for the currency you are interested in $FXY $FXA $FXE etc
• Commodities (gold/silver) are also known to be safe havens. You can also buy ETFs like $GLD $SLV $PSLV on your favorite trading platform
• CoinBase - Crypto Currencies were also known to be a hedge against inflation, but it's too volatile to be for you to have good sleep

[thoreau]

Anyone have experience with this Broadway Federal, or know of any gotchas with that rate? As sad as it is, that seems like a too good to last kind of rate.

[jopoe]

Anyone have experience with this Broadway Federal, or know of any gotchas with that rate? As sad as it is, that seems like a too good to last kind of rate.

here is where I put my 6-month raining fund. works out really good for the last 8 months.
http://www.aafcu.com/ContactAAFCU/Pr...xChecking.aspx

[thoreau]

here is where I put my 6-month raining fund. works out really good for the last 8 months.
http://www.aafcu.com/ContactAAFCU/Pr...xChecking.aspx

Too many requirements, I'm self-employed so I don't have anything to direct deposit. Also no way I'd use my debit card often enough without slipping up regularly.

Thanks Though

[elgrangus]

here is where I put my 6-month raining fund. works out really good for the last 8 months.
http://www.aafcu.com/ContactAAFCU/Pr...xChecking.aspx

Does not appear to be FDIC Insured.

[SickNic]

Thanks, signed up for one of those. It will be easier to save money if I don't have a bank around me.

[Mortiki]

craptastic, thanks anyway, i'll just stuff it in my mattress

[SuperTightWad]

Ahh, the beauty of the fractional reserve ratio, yet we still don't see anything close to the 9X + 9X*core + 9X*markup%. Even with the monstrous overhead, it seems 50% interest would be fair? Except for the insane inflation that would cause, and the good faith and credit (the basis of our monetary policy) that would destroy. It really is better they use that money to purchase the rest of the world first...

[shadow0000]

Well i put it in a safety place so that no one can stole it.... Just kidding!!! Oh well thank you for your offer for making grow my money in a low interest...

[ypc77]

GMAC Bank - http://www.gmacbank.com
Currently, 2.75% for Online Savings Account & 2.25% for Money Market Savings Account
Best of all, it's FDIC Insured.

[thegoodword]

GMAC Bank - http://www.gmacbank.com
Currently, 2.75% for Online Savings Account & 2.25% for Money Market Savings Account
Best of all, it's FDIC Insured.

GMAC is now Ally Bank. They are not always the highest, but they are consistently the highest APR over the year, while other banks change their interest rate often.


As of 06/26/2009

2.00% Variable APY for savings account.

[elgrangus]

Broadway Bank went down to 3.5%
Where do you see these rates spoofee?

[kmcheng]

stuff the money in your mattress may be better, lol
but remember not to throw it out, or you will be finding it like crazy like the family in Israel's case

[smidge1]

mattress what mattress, tee hee. i sleep with the cows.

[cdg110]

Irwin Union Bank, FDIC. 11 Month $20000 CD pays 2.35 % APR and a free 22" LCD TV. Also can get the TV promotion if you open a $5000 checking account for 11 months.
IrwinUnion.com, look for the HD Summer promotion.