High Interest Check Vs Mutual Fund? - high interest checking accounts
Hello --
I am looking forward for a kind of savings in the short term (2-3 years) and should then be ready to buy a house. My question is: What is the best type of account to the best and safest in the short-term yields to obtain? I debated between a fund, money market, or a majority interest in the lead. It sets out a bank, where I live, which has accounts with high interest rates 5.5% APY.
Thursday, January 14, 2010
High Interest Checking Accounts High Interest Check Vs Mutual Fund?
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4 comments:
I went with a high yield savings.
I went with a high yield savings.
The best way now would be a CD. They are insured by the FDIC and you can withdraw your money at any time if you lose some of the interest earned when you close the CD before maturity. I would stay away from investment, especially if it is only the investment over a period of 2-3 years. In terms of media data bank of 5.5% in a savings account, it needs a hook, or the kinds of things because you do not even banks with CD's at rates of interest that high right now.
Stick with accounts insured by the FDIC. If you need money in the short term mutual funds are too risky.
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