Comments on: Where to Find the Best Interest Rates on Savings

By: Phil K. James

Phil K. James — Tue, 25 May 2010 21:30:11 +0000

I’ve used SmartyPig with great results. Don’t quote me on this, but I believe their rates on deposits below $50k are 2.2%.

By: Frugal Dad

Frugal Dad — Mon, 24 May 2010 18:43:23 +0000

I have yet to try Smart Pig, but constantly here good things about them. Perhaps I’ll set up a little savings account there and report back with the results.

By: Frugal Dad

Frugal Dad — Mon, 24 May 2010 18:42:18 +0000

Not a bad idea, Scott. What’s the downside risk of owning such bonds? As an ETF, I suppose there is risk of loss of value much like playing a dividend stock? I’m asking here because I am admittedly ignorant on bonds.

By: MK

MK — Mon, 24 May 2010 18:27:05 +0000

What about SmartyPig? Have you used that bank?

By: Scott

Scott — Mon, 24 May 2010 17:54:25 +0000

Also, Ally Bank was formerly known as GMAC. Taxpayer dollars bought it a new name, a new marketing campaign and a new lease on life. Perhaps if you invest in it you can get some of your tax dollars back. I’ll steer clear.

By: Scott

Scott — Mon, 24 May 2010 17:47:34 +0000

Instead of chasing yields on savings accounts/CDs/Money market accounts, an alternative is to open an account at a discount broker and buy into bond funds.
I’m not endorsing the companies or products, but opening a Zecco account and buying into AGG or BND will net you around 3.5% with very little cost, provided you meet the terms.

By: Frugal Dad

Frugal Dad — Mon, 24 May 2010 15:45:01 +0000

@Allen: Thanks for the heads up. That sure didn’t last long! Maybe it was too successful, huh? I’ll make a note in the post.

By: Allen A

Allen A — Mon, 24 May 2010 15:06:55 +0000

WTDirect promo has been canceled.

By: Impulse Magazine

Impulse Magazine — Mon, 24 May 2010 01:28:42 +0000

I used to use ING Direct until that lowered their interest rates