Financial Information
savings accounts?
Question : savings accounts?
What is the best type of savings account I can open if want to save up money? What’s all that about high yields and interest rates etc??
savings accounts
Best answer:
Answer by Blue
You can find the highest interest rates for money market, savings & cd’s online at Bankrate.com, very helpful website.
Saving account is a place where your principle is safe. Money market account is NOT a saving account as you may lose your principle. Also lot of money market funds have ties with the sub prime mess (that’s how they afforded good rate but with lots of risk).
I suggest you go with either ING Direct or IGoBanking.com. These are internet banks with the lowest cost and that’s why they provide the top most interest rates.
You can read more here: http://www.vatsinvesting.com/?q=node/25