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Or you can open a Fidelity/Schwab account and buy U.S. Government T-Bills with no transaction costs or markup. 6-month T-Bills are currently yielding 2.54% and

• pascalxus 8y ago
  but how do those work. do you have to keep buying them every 6 months, or can you just leave it there while it keeps providing interest at that rate? and will those rates continue to go up? mysavingsdirect has for the last 2 or 3 years shown they're commited to staying at the highest rates.
  • whitepoplar 8y ago
    Checking/Savings rates are highly correlated to Treasury yields, so if Treasury yields go down, so will yields on checking and savings accounts. To answer your first question--if you go with Fidelity, they offer an "auto roll" feature which can re-purchase new T-Bills (or any Treasury/CD) at auction, automatically, when existing issues mature. It's completely hands-off: https://www.fidelity.com/fixed-income-bonds/fixed-income-tools-services/auto-roll-program https://www.fidelity.com/fixed-income-bonds/fixed-income-too...