I currently have a regular savings account with chase bank along with my checkings. Would I be better saving my money in an account with something like emigrant direct whose apy of 5.05% is mucher higher than my regular savings account?
2007-02-08 20:21:11 · 3 answers · asked by devp444 1 in Business & Finance ➔ Investing
I think you're on the right track. Mutual finds are a different asset class entirely. Move your current savings account to Emigrant or ING- any of the 'internet banks' should do. I have my savings account at ING Direct, and so far, it's great. Easy to electronically transfer money in or out, anytime you like.
2007-02-08 21:48:31 · answer #1 · answered by morlock825 4 · 0⤊ 0⤋
The best way to save would be using a mutual fund; you can always withdraw your funds as long as you are saving rather than setting up the account as a retirement account.
Also term deposit or fixed deposit accounts are a good alternative to savings account. Money market accounts also offer better interest rates than a regular savings account.
2007-02-08 20:31:06 · answer #2 · answered by Muga Wa Kabbz 5 · 0⤊ 1⤋
i have investment account in Largesum.com. Make 0.7% daily. Not bad at all, right?!
2007-02-08 22:21:34 · answer #3 · answered by Phil 1 · 0⤊ 0⤋