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Started By
Message
Money market account vs. traditional savings
Posted on 1/28/15 at 2:41 pm
Posted on 1/28/15 at 2:41 pm
I am thinking about transferring money in savings over to a money market account. What are common interest rates for those?
4
Posted on 1/28/15 at 3:52 pm to SallyWheeler
.7-1%
check www.bankrate.com
check www.bankrate.com
This post was edited on 1/28/15 at 3:53 pm
Posted on 4/11/16 at 11:28 pm to SallyWheeler
quote:
money market account
My bank (PNC) had a MM teaser rate of 1.35%. They dropped it way down and I went shopping for rates today at retail banks in my area. PNC went back up to .8% (but the rate expires in 3 months), so I stayed with them.
Seems like rates have dropped. Is anybody doing better? I tried SunTrust (.5%), BB&T (.05%), and Wells Fargo today (.35%). Nobody would even give me a good teaser rate to bring in new money.
This post was edited on 4/11/16 at 11:40 pm
Posted on 4/12/16 at 8:01 am to WiscyTiger
1.05 savings
Don't know how long it will last with GS merger
Don't know how long it will last with GS merger
Posted on 4/12/16 at 9:02 am to SallyWheeler
If you're not talking about really big balances I wouldn't over think this choice.
You can get an online saving with Ally and receive 1%. I find Ally's system easy to navigate and you can access your money within 2-3 days.
You can get an online saving with Ally and receive 1%. I find Ally's system easy to navigate and you can access your money within 2-3 days.
Posted on 4/12/16 at 2:10 pm to Oenophile Brah
Why not just throw it in a Muni?
Posted on 4/12/16 at 2:23 pm to Coach Guidry
I was able to get a 48 month CD with 1.2% with only a .5% cancelation fee. So basically if I kept the money in there for 6 months I could cancel anytime with no loss. This was a local bank for a non-profit I was working with 100k in reserves.
Posted on 4/12/16 at 3:39 pm to SallyWheeler
What is your goal for this money?
How liquid do you need it to be?
How liquid do you need it to be?
Posted on 4/13/16 at 3:56 am to Jimmy2shoes
quote:
GE Capital Bank Savings Acct. 1.05%
Thanks, but I'm looking for a local bank. I go in all the time and use it. Need to stay liquid and I do a lot of transfers to cover stuff, so an internet bank savings acct. won't do.
I checked around and it looks like PNC (.8%) is the best I'm going to do right now for MMs for local banks. I guess rates are just down right now.
This post was edited on 4/13/16 at 4:16 am
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