#1
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4.65% interest on savings acct
my wife and i have a small battle. she wants to keep a big nest egg in cash readily available in case of an emergency. while i understand the importance of having some cash, it drives me crazy to see the pittance of interest we earn each quarter.
i read in Money magazine this month about HSBC that offers 4.65% interest on savings accounts. typical accounts offer .54%, so says their website. so i can rest easy now having cash on hand earning a decent amount of interest. ahhhhhhhh. HSBC bwana |
#2
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Re: 4.65% interest on savings acct
citibank offers 4.75 esavings now
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#3
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Re: 4.65% interest on savings acct
[ QUOTE ]
citibank offers 4.75 esavings now [/ QUOTE ] hella sweet. im amazed at the disparity in rates between traditional banks and e-banks. i wish i knew about this 2 years ago. i wont be rolling in the dough because of this but those rates are higher than what ive got my used car financed at. bwana |
#4
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Re: 4.65% interest on savings acct
[ QUOTE ]
[ QUOTE ] citibank offers 4.75 esavings now [/ QUOTE ] hella sweet. im amazed at the disparity in rates between traditional banks and e-banks. i wish i knew about this 2 years ago. i wont be rolling in the dough because of this but those rates are higher than what ive got my used car financed at. bwana [/ QUOTE ] Yea, I practically fell out of my chair when I saw it. I also opened a citibank account for college last year just because it was the only bank in my neighborhood, so I feel pretty lucky. It took about 5 minutes to open an e-savings acct if you already have a chequing account. |
#5
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Re: 4.65% interest on savings acct
Why not leave 2 months living expenses in cash and leave the rest in a high interest savings account?
It shouldn't take more than a few business days to transfer money between the two accounts anyway. |
#6
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Re: 4.65% interest on savings acct-QUESTION
Sorry to hijack this thread but I am also looking to open a higher-interest savings account. As a canadian citizen, can I still open the above mentioned accounts? I ask because the Canadian HSBC is only offering 3.1%. ING is also offereng 3.1%. My neteller is all US funds so I would prefer a US savings account.
Thanks for any info |
#7
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Re: 4.65% interest on savings acct-QUESTION
In order to apply for both HSBC Online Savings and Citibank E-savings, you must be a US citizen or resident alien.
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#8
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Re: 4.65% interest on savings acct-QUESTION
boo
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#9
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Re: 4.65% interest on savings acct
[ QUOTE ]
my wife and i have a small battle. she wants to keep a big nest egg in cash readily available in case of an emergency. while i understand the importance of having some cash, it drives me crazy to see the pittance of interest we earn each quarter. i read in Money magazine this month about HSBC that offers 4.65% interest on savings accounts. typical accounts offer .54%, so says their website. so i can rest easy now having cash on hand earning a decent amount of interest. ahhhhhhhh. HSBC bwana [/ QUOTE ] In case of an emergency, aka, need cash that day, I just have credit cards with $20,000 credit limits. It's as good as cash. Then you can keep the rest of your money in the market or whereever. And by the time the bill comes for the credit card payment, you should be able to sell your stocks or whatever you need to do to get the cash so you won't have to pay any high credit card interest rate. Old school logic said have "x amount of months" in cash. New school logic says, "have a credit card able to pay for x amount of months" just in case. |
#10
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Re: 4.65% interest on savings acct
Depending on how long you want to lock away your money and which state you are in...check out tax free munis. after taxes tax free munis should out perform any savings account out there.
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