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Im looking for a savings account to....

101 14 May 31, 2022 at 07:48 PM in Finance (4)
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... temporarily park some cash. Any suggestions?
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LIONINSTREET
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Joined Jul 2005
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LIONINSTREET
06-01-2022 at 11:56 AM.
06-01-2022 at 11:56 AM.
Found this so far:

SoFi (requires a direct deposit) 1.25% / 0 monthly fee / 0 minimum balance

Bread Savings 1.15% / 0 monthly fee / $100 minimum balance

Most everyone else is under 1% and is pushing you to feel good about it....

Anyone else here to chime in?
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Last edited by LIONINSTREET June 1, 2022 at 12:00 PM.
Joined Nov 2006
disgruntled caveman
> bubble2 38,553 Posts
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bonkman
06-01-2022 at 06:35 PM.
06-01-2022 at 06:35 PM.
Nothing's great ATM. Rates may go up over the course of the year, but who really knows? The difference between .75% and 1.2% isn't exactly life-changing.
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Joined Jul 2005
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Original Poster
LIONINSTREET
06-01-2022 at 07:04 PM.
06-01-2022 at 07:04 PM.
True that.

But 1% is better than the .03% TD Ameritrade is paying out for the convenience of being liquid.
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Joined Oct 2018
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InternationalDark
01-19-2023 at 08:49 PM.
01-19-2023 at 08:49 PM.
Bask Bank is now 4.15% APY.
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Joined Dec 2011
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Buckshot5
01-28-2023 at 05:42 PM.
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Dr. J
02-01-2023 at 12:53 PM.
02-01-2023 at 12:53 PM.
Look into a money market? They're about as liquid as a savings account but you can likely get 4%+.

I have one MM that's 4.37% and a 6mo CD that's 4.7% right now.

Depends on your liquidity needs.
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Joined Jul 2009
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polosj
02-05-2023 at 12:04 PM.
02-05-2023 at 12:04 PM.
Dr. J. Would you share your 6mo CD please? Thanks.
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