Help! the days of hi interests rates for cash savings are going to be limited so I’m looking for online savings that have CD options with decent returns. I see Penfed is 3.7% , not really that great so are there any that have better returns?
Suggestion: if you have a Fidelity brokerage account (free to open), you have a choice of cash only accounts and money mutual funds that are presently paying about 4.9% yield. In addition, you can apply for their 2% back on everything Visa card, the 2% rebate is automatically placed into one of your Fidelity accounts at the end of every month; you don’t have to log in and manually transfer money (as required in many rebate cards). Fabulous deal, and there are no charges. The Visa is issued via Elan bank, but the only time you see them is to pay your monthly credit card bill. Best of all, you can request checking against your rewards to access your money any time you please! That’s free too. So is the Visa card- no annual fee, plus your rewards NEVER expire.
Marcus pays 4.1 on savings and 4.2 on 12 month CDs. I’ve used them for years. Otherwise, you might check local credit unions which often offer limited time specials on CDs that won’t show up on Bankrate. One of mine recently offered a 14 month CD at 4.75. Some money market accounts and treasuries (which may be state tax exempt) at Vanguard are also paying around 4.8.