Got my mail today and saw a note that GE Capital Invest Direct is closing up their GE Interest Plus program as GE has been wanting to get out of the financial markets. Bad news, as their savings rates were 1.05%, which stinks really, but is pretty good considering the rest of the basic savings market. Along with the note about closing their program, there was a flyer for Synchrony Bank which also had the same 1.05% rate which I assume they'll want people to check out. Curious what everyone else is doing for liquid type savings (not stock/bond) and what rates and/or limitations you're finding out there. Anything better than 1.05% with no risk, FDIC, etc? Thanks.
High Yield Bank Savings Options?
- Thread starter Kel
- Start date
I believe ING offers a higher yield savings option at around 1%.
ING doesnt exist anymore. It was purchased by Capital One 360.
Synchrony has a 1.05% high interest savings account. FDIC insured, etc. I just signed up for it a couple weeks ago so I don't have much input but everything seems as expected so far.
Ally has a 0.99% account if you are interested as well.
Ally has a 0.99% account if you are interested as well.
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In my IRA (and it has to be a self-directed IRA), part of my investments have been with trust deeds. The return is usually about 10%. Out of everything else I have (stocks, rental real estate), this is the only one I've never lost any money with. You don't have to do it with your IRA, you can just invest if you want. The company I deal with is Ignite Funding. Here's their website: http://ignitefunding.com/ If you choose to go with them, use my name, and I'll get some points with them. The funding is secured with real estate collateral and you can request financial statements from the borrowers.
Looks like they're 1.1% now, from their web site:
High Yield Savings Rates and Terms
Deposit Amount
APY**
Up to $1,499 1.10%
$1,500-$4,999 1.10%
$5,000-$24,999 1.10%
$25,000+ 1.10%
I'd used GE for probably 15+ years and never had an issue, always one of the highest paying out there. I don't want to put money in there and 6 months later find out it's some introductory rate, etc. Thanks for the input.
It's going to be hard to get anything more than 1%. Savings can't even keep with inflation, sad. I keep a very small amount of cash in savings personally.
http://www.nerdwallet.com/blog/banking/nerdwallets-best-savings-accounts/
http://www.nerdwallet.com/blog/banking/nerdwallets-best-savings-accounts/
Barclay dream account
mysavingsdirect.com - 1.05% all the time.
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