Savings Account Question

[margerymermaid]

What are people using for a savings account. I have a bunch of money in an IRA savings account and it just dipped down to 1.1% from 1.5%! I want to keep it in something very safe. The CDs interest rate is no better. I don't want to tie it up for more than 2 or 3 yrs either. Is there anything else out there?

[Rosemary]

Interest rates are very low, as you know. The last time I investigated, DiscoverBank had one of the best savings rates.

[Rogar]

My bank savings account interest rate is much lower than yours. I have given up on looking for the best rates among banks and would just as soon have my money in the brick and mortar near my house, which I suppose is old fashioned. I have some savings that I feel comfortable tying up for a while and have some in 2 year CDs.

I actually consider I-bonds to be one of the few safe interest rate bargains to be had. They at least pay the prevailing rate of inflation. They have their limitations and it takes a little study to understand how they work.

[Zoebird]

We are like Rogar.

we have most of our savings in a credit union, and are looking to find a credit union here in NZ as well. i prefer to work with credit unions.

[SiouzQ.]

Hmm, I've been wondering the same thing myself. I have a big chunk of money in my credit union savings account that barely earns any interest. I've been procrastinating about what I should do with it. I need it to be able to get to it easily.

[SteveinMN]

We have our "emergency" (that is, quickly-accessible) funds in our credit union's Money Market account and CDs. No rate higher than 1%, but for savings anymore they are good rates. Treasury Bonds are a decent alternative, though their higher appreciation can be balanced by a lower sale price if you have to sell them off by a particular date.

[margerymermaid]

Thanks for your responses. I guess I'll just continue to keep it in my credit union IRA savings for now.