4 ms·
>So the effective interest rate on cash is somewhere between 1.55% and 1.9%, depending on which money market fund you choose. Wait, so are you saying you can g
by bscphil 8y ago
>So the effective interest rate on cash is somewhere between 1.55% and 1.9%, depending on which money market fund you choose.
Wait, so are you saying you can get up to 1.65% interest on a withdrawable cash fund? Perhaps I'm confused - are you including a penalty for liquidating the shares in that, or just assuming you never liquidate?
I'm getting slightly better than that, but that's in a 5 year CD with a large minimum deposit. The penalty for liquidating is the previous 6 months of interest.
- LeifCarrotson 8y agoThere are lots of credit unions that have 3% or better checking accounts: https://www.lmcu.org/personal/banking/checking-accounts/max-checking/ https://www.lmcu.org/personal/banking/checking-accounts/max-... https://www.myconsumers.org/personal/checking https://www.myconsumers.org/personal/checking No penalties for liquidating, some minor requirements (use it for at least one bill and a couple purchases each month) to get the interest rate each month.
- whitepoplar 8y agoYes, my figures are for money market funds. They are withdrawable cash. No penalties. Plop money in, take it out whenever you want (or not).
- inyourtenement 8y agoAlly Bank savings accounts just went to 1.8%, and 2 year CDs are 2.5%, with no minimums.
- whitepoplar 8y ago2 year treasuries are 2.64% and they're exempt from state taxes.