High Yield Savings Account options?

[Irving]

Hey financial gurus,
I'm interested in different options to store money at a high interest, yet that can be turned liquid quickly. My credit union has some SmartCD thing right now where you need to start the CD with at least $2,000, and can take money out, ONE TIME, with no penalty, as long as you leave a minimum of $1,000 in the CD. I'm looking for something similar. Basically I realize that there will usually be some sort of penalty to remove money. I'm trying to strike the best balance that I can. Essentially, I've got money set aside for emergencies, but I'd like to have it working for me in the mean time instead of just sitting in a regular savings/checking account. This money needs to be readily liquid however since it is emergency money and if I ever need it, I'll need it right away.

What do you business guys do with extra capital you have stashed away as a safety net to have it work for you in the mean time?

[sniper7]

CD rates blow big time.

I'm interested in this as well though. I was just thinking of dumping a bunch in my Roth 401k and forgetting about it. I'll just waste it on another awesome toy

[Great-Kazoo]

Hey financial gurus,
I'm interested in different options to store money at a high interest, yet that can be turned liquid quickly. My credit union has some SmartCD thing right now where you need to start the CD with at least $2,000, and can take money out, ONE TIME, with no penalty, as long as you leave a minimum of $1,000 in the CD. I'm looking for something similar. Basically I realize that there will usually be some sort of penalty to remove money. I'm trying to strike the best balance that I can. Essentially, I've got money set aside for emergencies, but I'd like to have it working for me in the mean time instead of just sitting in a regular savings/checking account. This money needs to be readily liquid however since it is emergency money and if I ever need it, I'll need it right away.

What do you business guys do with extra capital you have stashed away as a safety net to have it work for you in the mean time?

Non metallic coffee can, 24" under ground. Hypothetically speaking, of course. In an area that is not slated for construction within the next 5 years.

[Irving]

I think CD rates blow also, but that was the best example I could think of since I don't really know what's out there. I have a feeling there is no such unicorn as a high interest rate product to store money, yet have it immediately available for use if needed. However, I have enough that I need it to do something that is better than nothing.

Jim, a coffee can isn't any better off than a bank in this situation.

[BushMasterBoy]

You could buy silver coins, rounds, or ingots. Usually easy to sell and if inflation soars silver goes right up with it. If the SHTF it would probably be a good barter item, if paper money was worthless. If you don't like silver, buy some gold...

[Great-Kazoo]

I think CD rates blow also, but that was the best example I could think of since I don't really know what's out there. I have a feeling there is no such unicorn as a high interest rate product to store money, yet have it immediately available for use if needed. However, I have enough that I need it to do something that is better than nothing.

Jim, a coffee can isn't any better off than a bank in this situation.

perhaps, but you can withdraw it anytime you like. W/OUT .gov penalties.

[Bailey Guns]

"High Yield Savings Account"?

[roberth]

"High Yield Savings Account"?

High yield for the government.

[Bailey Guns]

Whater rates up to now? 1%? 1.03%? With like $25k minimum deposit?

[roberth]

From 1ST Bank


Time Savings Account

Term Interest Rate Annual Percentage Yield
91 Day Time Savings 0.10% 0.10%
1 Year Time Savings 0.20% 0.20%
2 Year Time Savings 0.30% 0.30%

The interest rate and APY may change every Wednesday and on the first business day of each month. Multiple deposits may be made with no minimum deposit required. Additional deposits during the term do not change the maturity of an account. There is a $5.00 service charge per term when the balance falls below $100 on the 91 Day Savings Account. The service charge is $5.00 per quarter when the balance falls below $100 on the One Year Savings Account and on the Two Year Savings Account. Children under 18 years of age are exempt from these service charges.

Learn more »

Time Deposit Account

Term Interest Rate Annual Percentage Yield
91 Day Time Deposit 0.10% 0.10%
182 Day Time Deposit 0.15% 0.15%
1 Year Time Deposit 0.20% 0.20%
2 Year Time Deposit 0.40% 0.40%
3-1/2 Year Time Deposit 0.50% 0.50%
5 Year Time Deposit 0.90% 0.90%

The interest rate is fixed for the term of the account. The interest rate and APY offered for new accounts may change every Wednesday and on the first business day of each month. Minimum deposit is $500. Single deposits only.

Learn more »

Premier Time Account

Term Interest Rate Annual Percentage Yield
91 Day Premier Time 0.15% 0.15%
182 Day Premier Time 0.25% 0.25%
1 Year Premier Time 0.30% 0.30%
2 Year Premier Time 0.50% 0.50%
3-1/2 Year Premier Time 0.60% 0.60%
5 Year Premier Time 1.00% 1.00%

The interest rate is fixed for the term of the account. The interest rate and APY offered for new accounts may change every Wednesday and on the first business day of each month. A minimum balance of $10,000 is required. If the balance of the account falls below $10,000, the rate paid on the account will be the Regular Savings rate. Single deposits only.