i got back 2500 dollars from my tax return
i want to put into a savings or some sort of interest bearing account.
i can hold onto the money for at most one year til i would need to use it
i dont want to put it into anything risky
wht are my options ?
And what is a good bank to deal with ?
2007-03-28 01:53:13 · 8 answers · asked by jinx_0334 2 in Business & Finance ➔ Investing
You do have enough for a one year CD. Go to www.bankrate.com to find the highest rate in the nation, and still insured by FDIC.
2007-03-28 02:46:42 · answer #1 · answered by gosh137 6 · 1⤊ 1⤋
Good detailed question.
You can check rates at Bankrate.com
HSBC Direct is my preference.
They are offer 6% APY for new money, no min. deposit.
It's better than most CDs.
I like HSBC Direct's online savings because I can link it to my regular check at HSBC bank.
You can transfer money between the account to max your savings.
Let you money work for you, even $100 at 5% APY is still $5.
After tax, it's still at good amount.
I have over $200,000 in HSBC Direct, getting about $900 in interest every month.
I don't recommend putting so much in one bank because FDIC only covers $100,000.
They should change that amount to $300,000.
It's being $100,000 since the 80s?
Most people put it in regular savings and getting less than 2%. Information is wealth.
2007-03-28 09:20:48 · answer #2 · answered by Anonymous · 0⤊ 2⤋
You dont have enough for a high yield Money market account or CD at most banks. I would suggest you check into goverment savings bonds. 100 dollars in savings bonds after 5 years will net you $6,630.
2007-03-28 09:11:28 · answer #3 · answered by Anonymous · 0⤊ 2⤋
Go check my site I can up to 33% interest in a year
my email is chantal@indiplan.com
http://www.indiplan.com
2007-03-30 08:03:29 · answer #4 · answered by Anonymous · 0⤊ 0⤋
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2007-03-28 09:56:55 · answer #5 · answered by Anonymous · 0⤊ 3⤋
1 yr CD is as risk free as it gets,, and not a bad rate of return right now,, expect to make around $125 to $130. interest.
2007-03-28 09:02:46 · answer #6 · answered by Jo Blo 6 · 2⤊ 1⤋
low risk - fixed deposit
medium risk - mutual funds/IPOs
high risk - stocks
best returns - if you've got any forex trader friend, you rae in good luck..provided he is professional...
Chris
www.forexaim.com
2007-03-28 11:41:00 · answer #7 · answered by Anonymous · 0⤊ 1⤋
saving
2007-03-28 09:00:51 · answer #8 · answered by govtagent_2001 4 · 1⤊ 1⤋