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Savings vs Money Market?
Posted on 3/17/14 at 3:16 pm
Posted on 3/17/14 at 3:16 pm
I have about 5k I want to put in the bank and earn interest on it. At the same time I'll be direct depositing a percentage of my check into it. (Saving for a new vehicle).
Which would be better? A savings acct or money market?
And is there any banks offering good interest rates right now?
Which would be better? A savings acct or money market?
And is there any banks offering good interest rates right now?
6
Posted on 3/17/14 at 3:18 pm to Modern
what is your attitude towards risk? How long do you plan on having an "account"?
Posted on 3/17/14 at 3:18 pm to Modern
quote:
any banks offering good interest rates right now?
Define good please.
Posted on 3/17/14 at 3:29 pm to Modern
quote:No.
And is there any banks offering good interest rates right now?
Posted on 3/18/14 at 10:07 am to Modern
Rates are terrible .. Some of the better money market Rates I have seen were around the 1% but that was a tiered rate if you had 15k in it .. Some of the banks i e like Regions , Iberia are
Doing current savings promos were they are offering a 1% bonus based on avg yearly monthly balance ..
Doing current savings promos were they are offering a 1% bonus based on avg yearly monthly balance ..
Posted on 3/18/14 at 10:13 am to Modern
I'm actually trying to compare regular saving vs money market savings right now using Pen Fed. Money market is a tiered dividends payout vs regular saving set rate.
Are there risk involved in money market savings?
Are there risk involved in money market savings?
Posted on 3/19/14 at 8:29 am to Modern
Check your local credit unions. The one in Baton Rouge is giving 4% on up to 10k
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