Comments on: Why Savings Account Rates Suck Right Now

By: sonneillon

sonneillon — Sat, 11 Dec 2010 02:02:40 +0000

I like this. You can even get those insured as well to further limit risk.

By: aleck

aleck — Tue, 07 Dec 2010 21:51:15 +0000

Do a 10 second Google search for "High Yield Reward Checking Account". I am getting 3% now, many banks offer up to 4%.

By: peebozi

peebozi — Tue, 07 Dec 2010 19:50:05 +0000

yea, invest their billions from bernanke at 2% guaranteed or at 25% with risk...as a banker, they have to go with the free (risk & interest free) money. bankers are the scum of the earth.

By: peebozi

peebozi — Tue, 07 Dec 2010 19:47:55 +0000

What's wrong with 1-2% interest? The banks received BILLIONS in 0% loans and simply stuck it into taxpayer guaranteed treasuries that paid 1-2%.

1.5% of $100,000,000,000 is a $1,500,000,000 gross profit...I don't see the problem here.

By: One-Eyed Jack

One-Eyed Jack — Tue, 07 Dec 2010 01:32:29 +0000

We're fortunate that our bank has a "Sky High" checking option that's paying right above 4% now, and has been for the past few months. We do have to jump through some hoops to get the rate, but it's stuff we are doing anyway (using the Visa check card a certain number of times a month, have a direct deposit, stuff like that).

By: jesusofcool

jesusofcool — Tue, 07 Dec 2010 01:07:49 +0000

I had an ING online account earning over 5%...now it's getting just over 1%. Glad I read this article though because I had no real idea why.

By: jesusofcool

jesusofcool — Tue, 07 Dec 2010 01:06:22 +0000

Asking the same question myself. Maybe a good article idea Consumerist?

By: Bibliovore

Bibliovore — Mon, 06 Dec 2010 23:55:09 +0000

Look around for high-interest checking accounts in your area. I'm getting 4% on mine, with no minimum balance, and I've seen up to 6% in other states. My "high interest" savings account is at 1%, so most of my savings are now in my checking account.

Many higher-rate checking accounts require meeting some conditions each month. For mine, most of them I'd be doing anyhow -- direct deposit, at least 10 debit/credit (doesn't matter which) transactions each month, and paying at least one bill online. The weird one is to not write any paper checks, but as the bank also offers a free basic checking account and free instantaneous online transfer between accounts, I got both accounts and can still write the rare paper check when I need to, such as for girl scout cookies.

By: hansolo247

hansolo247 — Mon, 06 Dec 2010 23:20:29 +0000

Plenty of stocks at a P/E of around 10 and a 3% dividend yield. Upside potential, and 3% even if it goes nowhere.

A P/E of 10 isn't overpriced, either, so the risks of it dropping significantly aren't all that great.

By: hansolo247

hansolo247 — Mon, 06 Dec 2010 23:18:52 +0000

They can borrow all they want from Ben Bernanke for 0%.

THAT is why they don't pay interest.