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View Full Version : Good Place to put Savings?


robind
05-15-2010, 12:27 PM
I usually lurk on this area, but I thought you guys might have a good answer to my question.

I'm looking for somewhere to put my savings, about $30K that would be liquid (no more than a 6 month commitment). My house is going on the market and as soon as it's sold I'll be using the savings to buy a piece of property to build a new house, so it can't be something that has alot of penalties for withdrawls.

Right now it's at my credit union w/ .25% intrest.

sunlover13
05-15-2010, 12:58 PM
What about an ING?

Ours is getting a little over 1% right now. Although, when we opened it up, it was closer to 4%. It only takes a few days business days to transfer $ from ING to checking and vice versa.

There is no commitment or penalty for withdrawal that I'm aware of.

You might be able to find a 6 month CD at a bank with a higher rate, but you are committed and stuck to not touching the $ for those 6 months.

robind
05-15-2010, 02:05 PM
Thanks, I'll check them out.

ceecee
05-15-2010, 02:15 PM
Money market or 6 mo CD, most aren't paying a lot right now. If you could get 1% you're lucky.

angwill
05-15-2010, 04:36 PM
I would got with a 6 month CD you can get it out before but will pay penelties but if you leave it in the full 6 months it will make you the most interest.

angwill
05-15-2010, 04:56 PM
I would got with a 6 month CD you can get it out before but will pay penelties but if you leave it in the full 6 months it will make you the most interest.

AllesonWonderland
05-15-2010, 05:29 PM
dollarsavingsdirect.com is at 1.2% and Emigrantdirect.com is at 1%. I have accounts at both. Like a PP, I remember when the interest was much higher...but something's better than nothing!

buckler
05-15-2010, 06:19 PM
Alliant Credit Union (http://www.alliantcreditunion.org/) pays 1.50% APY on regular savings.

Gr8t Fan
05-15-2010, 07:26 PM
Southern Bank pays 5.01% on their checking accounts (up to $25,000) with a few conditons: at least one electronic payment a month and 12 debit card purchases a month. Their website is www.bankwithsouthern.com .

JCMHutch
05-15-2010, 08:10 PM
www.discoverbank.com (part of discover card) is offering 1.34% right now. you can't make withdrawls for the first 30 days but after that you can do whatever you want.

crazy4dis
05-15-2010, 08:20 PM
Blackhawk Bank (www.blackhawkbank.com) is 3% for checking account up to $25,000. Requirements are 10 debits per month and e-statement.

robind
05-16-2010, 08:19 AM
Thanks everyone, lots of good places to check out.