intrest rates?
 

what banks have the best intrest rates? Im looking to put away a little bit of money for my future and I want the best deal possible, ive been googling, and cant find anything good.

washington mutal has soem of the best for CDs but there are minimums and so forth, plus wamu employees are incompetant

I use commerce simply b/c they're easy to deal with and fairly competent

I am also a Commerce customer. Yes they are easy to deal with(hotties for tellers) and have great hours, but their fees creep up on you. If your checking goes below $100 at any time they hit you with a "cycle service charge" of $4 every time. They have made a few "mistakes". There are times that they have charged me when they shouldn't have. Keep an eye on your statement and read the fine print.

HSBC now at 5.05% no minimum no fee, pretty much the best deal you'll get.

g

you want to make sure whatever bank you use that they are a SAVINGS bank and not a COMMERCIAL bank. Larger commercial banks are not going to have as good of a rate because they are more into larger loans for businesses. Then decide how long you want your money locked up for. Also are you going to be adding to it or just putting away a large sum. CD's are good, but you usually can't add to them without renewing the life of the CD. A simple statement savings account will allow you to add but if you aren't disciplined enough to not take out they aren't good.

CD's will probably have better rates in the long term usually up to a year, but if you go short term you can probably find a decent savings account. Just go into the banks and get their rate sheet, most of them have it posted in the front of the bank.

Also check ING

HSBC or Emigrant savings I think has the highest rate, but I'm a loyal ING customer and love it. Our wedding money was stored there and earned alot of interest until I used it all, and now all of our gifts are there. It has done us well and will continue to do so. Interest rate is at 4.5%. I've been earning about $100 a month on my money (I have it in 3 separate accounts at the moment though).

For checking I use Commerce. Open 7 days, good hours, coin counting, no problems. They had no problem letting me deposit all the checks from the wedding into my account when I hadn't changed my name yet but all the checks said "Mr. and Mrs. Dowles."

Don't go with a savings account at a local bank. Average interest rate is like 0.03 percent or something like that. Get one of the banks that has no local branches and does everything online. You'll get better rates. Just get a local bank checking account and you are set (you'll have to set up your savings account to be linked to the checking account, that's how you move money around).

I get 4.65% at Citibank with an esavings account. If you use direct deposit and have a minimum balance of (i think) $1500, then they wave all fees. I can take my money out from any ATM anytime.

Thats what I would suggest.

with commerce, if matt wants he can have his account set up so that until he's 21? he has to have a supplemental signature on his withdrawal slip with the other person there to get money out

i was thinking about that but i have never seen a branch locally

ING is an online bank only. There are no local branches (save maybe on in NYC somewhere?). That's how they can give such a great interest rate. You just link your checking account and add your money from there. To deposit to your ING account, your first deposit when you open cannot be withdrawn for 30 days. After that it is 1 week. When we take from your savings to your checking when needed, it takes about 2 business days to show in your checking account (at least with my ING to Commerce).

ING also has mutual finds, CDs, loans, mortgages etc you can get. And they also have a checking account that can earn interest.

don't they vig you to death, too? if it's a temporary situation, then i would recommend ING Direct. if it's going to more than, say, eighteen months, then i would think about mutual funds. ask the CSA at your favorite bank. then go to at least two more banks and compare numbers at the end of the day in order to make a decision.

Probably not... you do know that banks are reinvesting your money and making a lot more off of it than you do right?

THat's one of the ways, then. But not having much overhead with actual branches, they save money...some of it goes to us, I"m sure they use it to make money as well.

They also refrain from using paper...usually e-statements unless you request otherwise...if you get a checking account, you don't get checks, you do it all online. Another way to save on overhead. Obviously we don't get all the benefit of it...but it's definately nice to get 4.5% on my/our money now.