Money Market Savings Account Yields – Getting High Yields in February 2010
Posted on | January 29, 2010 | No Comments
Money market savings account yields are not as high as they once were but they are still a safe return on investment. If you are looking to get high yields in February of 2010 you will need to do a significant amount of research. Luckily, it is easier now than ever to find out what banks are offering the best rates.
By simply doing some google searches you are likely to find that there are many monitoring bank rate websites that can help you find the best deals on a money market account. You do not want to limit your search when it comes to finding a high interest rate on your money. There are many banks spread out throughout the country that can help you get an attractive yield.
It also might be a good idea to do research on local community banks to find out if they will offer you a better rate. Pres. Obama mentioned in his State of the Union address that he is going to do his best to create funding for local community banks. By doing this he may help them to offer better rates for those looking to invest their money.
At the present time there are many community banks are offering an interest rate above 4% on a checking or savings account. Rather than putting your money into a money market account you may want to consider looking for a high yield checking account. By getting a 5% interest rate on a checking account you will compound your interest much more than on a 1.5% money market account.
Author: Mike Garner
Comments
Leave a Reply