Discussion in 'Budget Board' started by dis2cruise, May 17, 2010.
looking for a high yield savings for my son (18 yrs. old) any suggestions??
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ING Direct is paying more than any other company that I currently know of/use.
American Express, Discover Bank. Just read about Smartypig.com in Money magazine, but haven't researched it.
We use capital one. At the time it was the highest interest. I haven't "shopped" around recently.
I use emigrantdirect.com. I also had an INGdirect.com at one time. Their rates were always pretty much the same. I didn't like ING because it assigned me a number as my user ID. And I think this was also the same account where I had to use all numbers as my password. I could never remember them. Emigrant allows you to choose a name which is much easier to remember whether I am on my home PC or at work.
I too just opened an account at Capital One for the rate. It's currently 1.34 plus they pay a 10% bonus on your interest earned.
Technically Sallie Mae has the best base rate right now at 1.4% (according to bankrate.com http://www.bankrate.com/funnel/savings/savings-results.aspx?local=false&IRA=false&prods=33&ic_id=CR_searchMMASavingsRates_checking_MMASavings. I haven't used them, so I can't say how their service is or how often they change their rates or anything like that.
I "think" there's an option to change it if you want to. I never did it, but a friend of mine mentioned it to me one time. I was making the same complaint that you just made.
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