Things You'll Need:
- Money to open accounts
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Step 1
If you're looking for a high interest savings account, the best place to look is online. The most popular sites are INGDirect, FNBO Direct, and Citibank. Other accounts you need to have a couple thousand to invest to be able to get an account and the APY isn't as high as others.
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Step 2
Secondly look at getting some CDs. I just opened up a CD for 7% at a credit union the other day. See if your family belongs to a credit union and you will be eligible to open up an account. Some banks and credit unions let you open up CDs and get the excellent rates without opening up an account.
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Step 3
Consider opening a new savings/checking account. Most banks only have you open up a savings account with $5 as well as checking (though others might say $25 for checking)- then they will pay you for opening up an account with them. Check the fine print. One bank told me I just needed to make one charge to get my $50 new account fee, but after reading the fineprint, I saw it had to be at least a $25 charge. Others might have you do a balance transfer or have an account for 30 days or more before becoming eligible. Regardless it's free money so check the fine print to make sure you get it- this is a great investment of your money!
Comments
lucindaroth said
on 11/29/2009 Great tip I used this another thing to think about is to change banks if they decrease the interest rate
Alrady said
on 11/21/2009 great article. getting the most for your money can be tricky
y and step 3 is then very important. the devil is in the details, as they say.
lucindaroth said
on 10/29/2009 Thank you for sharing this valuable information. This is another great article.
lighthouse1958 said
on 9/21/2009 Good article on how to open high yield interest accounts. 5*
cajunc said
on 8/10/2009 Good ideas! Thanks! Linda cajunC