Good Place to put Savings?

Discussion in 'Budget Board' started by robind, May 15, 2010.

  1. robind

    robind DIS Veteran

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    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.
     
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  3. sunlover13

    sunlover13 <font color=darkorchid>No Chef boyardee here!

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    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.
     
  4. robind

    robind DIS Veteran

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    Thanks, I'll check them out.
     
  5. ceecee

    ceecee DIS Veteran

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    Money market or 6 mo CD, most aren't paying a lot right now. If you could get 1% you're lucky.
     
  6. angwill

    angwill I just want to live at WDW!

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    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.
     
  7. angwill

    angwill I just want to live at WDW!

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    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.
     
  8. AllesonWonderland

    AllesonWonderland DIS Veteran

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    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!
     
  9. buckler

    buckler DIS Veteran

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  10. Gr8t Fan

    Gr8t Fan DIS Veteran

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    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 .
     
  11. JCMHutch

    JCMHutch Mouseketeer

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    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.
     
  12. crazy4dis

    crazy4dis Earning My Ears

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    Blackhawk Bank (www.blackhawkbank.com) is 3% for checking account up to $25,000. Requirements are 10 debits per month and e-statement.
     
  13. robind

    robind DIS Veteran

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    Thanks everyone, lots of good places to check out.
     

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