In a bank, I'm looking for reliability, intrest rates, all that stuff.
What bank would you prefer??
I'm just a teen with a couple hundred bucks looking for a safe place to keep my money, and maybe get good intrest.
2007-07-31 11:49:41 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
I'm not investing $200 I never said that.
Actually I'm investing $600
2007-08-01 10:07:20 · update #1
Normally, I'd say go with an on-line bank. But since you're only talking about $200, the rate of return doesn't really matter. Here's why: if you keep the entire amount in the bank for 1 year, at 1% you'll get $2 in interest earned. If you find an on-line bank to pay you 5% interest, after 1 year you'll have earned $10, or only 66 cents more per month.
At this point in your life, I think the accessiblity of a local branch might be worth more to you than the extra few dollars per year - so find a local bank or credit union, and open an account. Find one that's open on Saturday so it's easy for you to get to. Use the people there to educate yourself about different accounts, writing checks, bank terms, etc.
After you've accumulated a couple of thousand dollars, and had the chance to learn more about banking, then move to an on-line account to get a better return. Good luck.
2007-07-31 12:17:19 · answer #1 · answered by Marko 6 · 0⤊ 0⤋
Check these out: CATY, CFR, RF, WB. Good reasons to be highly rated. Of course, you don't have to buy a full block, 100 shares, these days. So if you are using sharebuilder or scottrade it would be easy to divvy your money across a favored few to the number of dollars you have available.
2007-07-31 13:23:25 · answer #2 · answered by Rabbit 7 · 1⤊ 0⤋
Is poker the only element left interior the international to earn extra funds? i might recommend to maintain the money in economic organization, mutual funds or placed funds into shares which supplies you so a lot greater hazard loose neat earnings :)
2016-10-13 06:45:39 · answer #3 · answered by ? 4 · 0⤊ 0⤋
that changes every day. the wall street journal posts highest yeilding interest accounts or there's probrably an online site that does the same. on any day there is a new highest yielding account
2007-07-31 11:59:58 · answer #4 · answered by qpistol 5 · 0⤊ 0⤋
it doesnt matter much with a few hundred. but if you are young just trying to save, go with washington mutual. no fees. good servuce
2007-07-31 11:58:11 · answer #5 · answered by tonytbag 5 · 0⤊ 0⤋
go with ing.com or hsbc.com -- they have the highest interest rates (4.5% at ing...I'm not sure what the current rate is at hsbc).
2007-07-31 11:57:29 · answer #6 · answered by Adlai44 2 · 0⤊ 0⤋