Best High-Yield Savings Acct?
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Best High-Yield Savings Acct?
Bogleheads,
I am looking to open up a high-yield savings account to (slowly) begin saving for a future down payment (5 or 6 years away). I believe most here recommend this instead of a muni bond fund.
What are the best options out there? What do bogleheads use for this?
I am looking to open up a high-yield savings account to (slowly) begin saving for a future down payment (5 or 6 years away). I believe most here recommend this instead of a muni bond fund.
What are the best options out there? What do bogleheads use for this?
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Re: Best High-Yield Savings Acct?
My credit union pays 1.25%, no strings.
I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account.
I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account.
An elephant for a dime is only a good deal if you need an elephant and have a dime.
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Re: Best High-Yield Savings Acct?
Ally is popular around here as an online bank. Currently pays 0.87% for savings, which is very close to the best you'll find.
Re: Best High-Yield Savings Acct?
Why don't you go with Uncle Sam? The I-bond currently yields 1.94% and you don't pay taxes until you redeem them. I may be wrong, but from your post it does not look like you might hit the annual purchase limit (and if you will, you could still buy up to that limit!).
Re: Best High-Yield Savings Acct?
Given that timeframe and stated goal, I'd put the money into I-Bonds. They'll yield better than any short term savings, defer taxes and overall won't loose out to inflation much if at all. If your timeframe stretches out, you can hold them up to 30 years.
Re: Best High-Yield Savings Acct?
Barclay's is offering 0.9% on savings with competitive rates on CDs, as well.
She/her | Make sure the fortune that you seek is the fortune that you need - Ben Harper
Re: Best High-Yield Savings Acct?
GE Capital has 0.9% as well. But if you won't need the money for a while, I bonds are a better alternative.
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Re: Best High-Yield Savings Acct?
bungalow10 wrote:My credit union pays 1.25%, no strings.
I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account.
I tried googling "Bungalow10 Credit Union" but couldn't find your home page to see if I could join.
Care to share?
Re: Best High-Yield Savings Acct?
Quorum Credit Union 1.05%
Synchrony Bank (GE Capital Retail) 0.95%
Synchrony Bank (GE Capital Retail) 0.95%
Re: Best High-Yield Savings Acct?
check out depositaccounts.com. Found a (Mass) bank there that offers 2% in a rewards checking account with only a few hoops.
Re: Best High-Yield Savings Acct?
Alliant used to be stellar; then morphed into barely average. These days, anything at or over 1% with no "gotchas" is a pretty good deal. Visit www.depositaccounts.com/blog for the "best" deals on savings accounts. It kinda rankles when I know they're paying 1 and charging 3 (or more), but that's life.
Last edited by john94549 on Wed Jul 23, 2014 7:56 pm, edited 1 time in total.
Re: Best High-Yield Savings Acct?
SmartyPig: 1%
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Re: Best High-Yield Savings Acct?
The Quorum High Q account. I thought it was 1.25%, but someone else posted in the thread that it is 1.05%. I can't find the rate on their website, so I'll defer to the other person.Pale Horse wrote:bungalow10 wrote:My credit union pays 1.25%, no strings.
I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account.
I tried googling "Bungalow10 Credit Union" but couldn't find your home page to see if I could join.
Care to share?
An elephant for a dime is only a good deal if you need an elephant and have a dime.
Re: Best High-Yield Savings Acct?
Who will pay me not to open a Quorum account?bungalow10 wrote:The Quorum High Q account. I thought it was 1.25%, but someone else posted in the thread that it is 1.05%. I can't find the rate on their website, so I'll defer to the other person.Pale Horse wrote:bungalow10 wrote:My credit union pays 1.25%, no strings.
I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account.
I tried googling "Bungalow10 Credit Union" but couldn't find your home page to see if I could join.
Care to share?
Here is my track record (i.e., the havoc I have caused)
- completed the account application form for Adirondack HSA - they tacked on a monthly fee
- funded an HSA account at Alliant - their rates went from IIRC 1.05% to 0.7%
- funded an HSA account at ELFCU - they added a monthly fee for balance < $2,500
- funded an account at Incredible Bank - their rates went from IIRC 1.05% to 0.65%
Re: Best High-Yield Savings Acct?
The Quorum HighQ is currently 1.05%bungalow10 wrote:The Quorum High Q account. I thought it was 1.25%, but someone else posted in the thread that it is 1.05%. I can't find the rate on their website, so I'll defer to the other person.Pale Horse wrote:bungalow10 wrote:My credit union pays 1.25%, no strings.
I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account.
I tried googling "Bungalow10 Credit Union" but couldn't find your home page to see if I could join.
Care to share?
They have good customer service, no min balance, free outgoing ACH electronic transfer (unlike BoA), no need to mail in signature card (unlike Synchrony/GE Capital Retail), the sub-accounts feature also.
Re: Best High-Yield Savings Acct?
LOLan_asker wrote:Who will pay me not to open a Quorum account?bungalow10 wrote:The Quorum High Q account. I thought it was 1.25%, but someone else posted in the thread that it is 1.05%. I can't find the rate on their website, so I'll defer to the other person.Pale Horse wrote:bungalow10 wrote:My credit union pays 1.25%, no strings.
I also have another credit union that pays 3.09% on up-to $10k, with lots of hoops. I keep 10k there and the rest in the 1.25% account.
I tried googling "Bungalow10 Credit Union" but couldn't find your home page to see if I could join.
Care to share?
Here is my track record (i.e., the havoc I have caused)
- completed the account application form for Adirondack HSA - they tacked on a monthly fee
- funded an HSA account at Alliant - their rates went from IIRC 1.05% to 0.7%
- funded an HSA account at ELFCU - they added a monthly fee for balance < $2,500
- funded an account at Incredible Bank - their rates went from IIRC 1.05% to 0.65%
Re: Best High-Yield Savings Acct?
Aren't iBonds limited to $10,000 per year? Any way to move larger amounts into them via different accounts or bond types?