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Started By
Message
Best High Yield Savings Account
Posted on 12/17/23 at 9:07 am
Posted on 12/17/23 at 9:07 am
American Express is offering 4.5% but I’ve seen other options out there.
Is this any different from a standard FDIC savings account? There are typically limits on withdrawals, but we are still looking for an account where we can liquidate money if needed.
Hopefully we won’t need to touch it for 3/4 years.
Is this any different from a standard FDIC savings account? There are typically limits on withdrawals, but we are still looking for an account where we can liquidate money if needed.
Hopefully we won’t need to touch it for 3/4 years.
13
Posted on 12/17/23 at 9:22 am to RFK
If the Fed really does start cutting rates, these high rate savings/money market accounts will revert to paying nothing.
Posted on 12/17/23 at 11:19 am to RFK
If you don’t want to touch it to 3 years and are skittish with stocks there are no cost short term annuities that are paying 5.5%.
Yeah I know, annuities but some have their place.
Yeah I know, annuities but some have their place.
Posted on 12/17/23 at 4:29 pm to XenScott
Specific names? Never used annuities.
Posted on 12/17/23 at 10:49 pm to SloaneRanger
quote:
If the Fed really does start cutting rates, these high rate savings/money market accounts will revert to paying nothing.
I’d be ok with that.
I just opened a captial one HYS a couple weeks ago after saying I need to do it for a couple years.
Now I’m buying a house so I’d prefer the lower interest rates on my mortgage.
This post was edited on 12/17/23 at 10:53 pm
Posted on 12/18/23 at 12:07 am to RFK
Amex is 4.35% I think
Posted on 12/18/23 at 5:01 am to RFK
I have a feeling all these folks that have their high yield savings accounts/Cd's etc..will be into the 3's but end of 2024.
Posted on 12/18/23 at 12:22 pm to RFK
Fidelity's brokerage account is paying 5%
This post was edited on 12/18/23 at 12:22 pm
Posted on 12/18/23 at 12:27 pm to RFK
I use Wealthfront which is at 5%.
Posted on 12/18/23 at 12:45 pm to Phate
Capital one easy to move funds around
Posted on 12/18/23 at 1:16 pm to RFK
CIT bank still offering 4.92% for regular HYS
Posted on 12/18/23 at 3:18 pm to SloaneRanger
quote:Then you could just move the money to another investment vehicle. It’s not like it’s locked in there.
If the Fed really does start cutting rates, these high rate savings/money market accounts will revert to paying nothing.
Posted on 12/19/23 at 3:40 pm to RFK
CIT 5.05%
BMO Alto 5.10%
Have both and haven’t had issues
BMO Alto 5.10%
Have both and haven’t had issues
Posted on 12/19/23 at 4:11 pm to RFK
Morgan Stanley AAA is still paying 5% but indications are they will go down. I have a pretty good chunk there.
Posted on 12/19/23 at 4:35 pm to RFK
I have used Fierce since February with no issues. They also have crypto and stocks. 5.25%
Posted on 12/19/23 at 7:57 pm to FLObserver
Grab that 5 points now for 3 years
Posted on 12/20/23 at 7:50 am to FLObserver
quote:
I have a feeling all these folks that have their high yield savings accounts/Cd's etc..will be into the 3's but end of 2024.
And? It’s still better than what a checking or savings will pay. I wouldn’t suggest someone out their retirement account into these but at the same time the extra interest is nice and no one really knows the future.
Posted on 12/20/23 at 9:20 am to RFK
quote:
Hopefully we won’t need to touch it for 3/4 years.
You might consider laddering some CDs if that’s your time horizon. Just like the AMEX and similar HYSAs, those would offer FDIC protection as well.
Posted on 12/21/23 at 7:51 am to RFK
We did AMEX bc we already had a CC account. We started with the Apple savings (still have some there) but then AMEX came out with higher rates plus they just adjusted. AMEX is easy in easy out.
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