I live in Monore georgia and me and my hubbie are going to open an account for our child and wud like to know .which is best
2007-01-09 02:40:39 · 5 answers · asked by browneyes 3 in Business & Finance ➔ Credit
Money markets are running around 5.15%
2007-01-09 02:49:23 · answer #1 · answered by Mopar Muscle Gal 7 · 0⤊ 0⤋
Hey Tweety. Right now ING.com is giving 4.5 % on their savings account. They can offer a higher interest rate because they don't have branches to maintain. It's all on-line. Also, let me tell you what I do for my kids. There is a place called Sharebuilder.com. It's hooked up to your bank account and you can buy stock for around four dollars a trade. When ever the piggy bank gets full, we find a Coin Star machine, convert the change into cash and deposit it into the bank. ( and it's typically around $250 to $300) We then go on to Sharebuilder.com and purchase stock. They say buy what you like and use. My kids have stock in Pepsi, Matel, and Build-a-Bear. My girls are 4 and 7 and know exactly what it is that they are doing. It's fun, educational, and instills the practice of saving and investing. Hope this has been helpful and good luck.
2007-01-09 03:07:55 · answer #2 · answered by Vizzini 4 · 0⤊ 0⤋
Why don't you put in in a mutual fund? It is designed to be a long term investment and you get better rate of return. Don't panic about the ups and downs - but if you can get a 10% ROR wouldn't that be better than letting a bank make double money off you?
2007-01-09 03:02:26 · answer #3 · answered by Leisa W 2 · 0⤊ 0⤋
ING Direct has a great savings account rate (around 4.5%) with no minimum balance fees.
2007-01-09 02:45:33 · answer #4 · answered by bradxschuman 6 · 0⤊ 0⤋
ABN-AMRO ?
2007-01-09 02:44:30 · answer #5 · answered by Catalyst 3 · 0⤊ 0⤋