Money Matters
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savings acct

I know this has been talked about a few times, but I am looking for the best high interest savings account to put a bulk of our tax return in. We will be using it or at least some of it, gradually within the next year or so for some house projects so I want it to be easily accessible. But I don't just want it to sit in our checking account.
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Re: savings acct

  • I have a Discover savings acct., I believe it is at .85% right now.  No minimum balance and I can set auto transfers between it and my accounts at my local bank.  My favorite part is that it compounds daily!
  • Check with your local credit union, too. Mine offers accounts that earn 4% on the first $3000!
  • Credit union is a good suggestion. We use Ally Bank though. Very easy to use and great customer service whenever I've needed it. If you're going to be spending the money within a year or so I would focus MUCH more on convenience than on interest rate. No matter what you won't earn much of anything.
  • H and I have used Great Lakes in the past - it's a high interest checking account through some bank in Minnesota.  I think it was 4% up to $10,000 as I recall.  You have to have a certain number of debit card swipes each month.
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