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Friday, June 15, 2007Make More Interest With Your Savings Account
Sorry...this isn't a particularly funny topic. It's not not funny, but certainly not hilarious.
Anyway...I am writing today to talk about Online Savings Accounts. Basically there aren't very many good excuses to not be taking advantage of these. We use E*Trade for ours and we get 5.05% on it. This is (obviously) way better than the 3.1-3.3% we get for our Fifth Third savings account.
The nice thing about these accounts are that they are pretty liquid. It doesn't take long at all...a day at the most...to transfer funds back and forth. But you get the same high rates that a CD would get you. But CD's aren't liquid...at least not without paying a heavy fee.
Like I said before, we use E*Trade...but there are a bunch of good ones out there, like HSBC & ING.
It's real nice to see the interest deposits be so much, especially when they weren't nearly as much before. It really is worth it to check out because it is basically free money for a small amount of effort. You won't be disappointed.