I need a bank that gives customers high interest rates

[Lostlover]

Higher interest rate than my credit union which is a 0.15% annual yield. Thanks.

Would appreciate it if you could list the bank and percentage please.

 

[kguy3387]

best i've found is a reward checking account where you use your debit card 10-12 times a month to qualify for a high rate. local banks usually give the best rates. depending on your amount to invest and money habits, this may or may not be right for you. expect 4-5%.

a sample listing of banks: http://www.depositaccounts.com/checking/reward-checking-accounts.html

 

[Lostlover]

Thanks buddy!

 

[metta]

best i've found is a reward checking account where you use your debit card 10-12 times a month to qualify for a high rate. local banks usually give the best rates. depending on your amount to invest and money habits, this may or may not be right for you. expect 4-5%.

a sample listing of banks: http://www.depositaccounts.com/checking/reward-checking-accounts.html

Wow...I did not know that there were accounts offering that much...even short term cd's are not offering anything near that. I wonder why they limit accounts to a max. of $25k.

 

[jonboy1645]

Bank and high interest rate aren't usually two words that go together. There are lots of factors that will affect what exactly which deposit product you need.

If this is short term money that you need to use soon, then a money market is most appropriate.

M&I Bank - (Marshall and Illsley) have a money market with a $25,000 min. that earns 1.5% yield. That offer is good in Florida as a special to get new customers. If you aren't in Florida, call a Florida branch to see how to get the account open with that rate. There is no maximum. Source: MiBank.com

Also, Everbank.com (A bank in Jacksonville FL) says on their website they offer 2.25% for new customers, then 1.51% for the first year. They have a $5,000 min and a $50,000 max.

Then there are an array of Certificate of Deposit products that run the gamut from 7 days to about 15 years that have a myriad of rates.

Also, what is your financial advisor talking to you about interest in this historically low rate environment? Advisors have financial products available that do carry calculated risks, but over the long term, American equities (stocks) have been the best investment vehicle. (Think 10 year + plan).

 

[bendted]

www.bankrate.com

 

[just a guy]

I am using Ever Bank, its internet banking only. You get a bonus of 1.5 for a couple of months for opening an account on top of the normal rate and my rate is 2.8 but, I think it’s a little lower today. You lock a rate in and they have a guarantee to be in the top of interest baring accounts. There is a formula of how they define what top is but they have always been up there for the last year.

 

[briefboy86]

I was talking about this with my dad the other week, he was telling me that he remembers when his savings was earning 12%!!! now my savings ears 1.39%