Viewing a single comment thread. View all comments

mcgeggy t1_ivr8oou wrote

Reply to comment by THROWAWAYHELLLLL in One Day I want To have a Home Here. Seems like wishful thinking. by THROWAWAYHELLLLL

> Car rate is 2.75% and savings is 1.7, I think

Look into another savings account, possibly even in your same bank. For example, Ally Bank has savings account with 2.75% interest rate. I had a Capital One savings account with a measly .30% rate, then realized they had another type savings account with over 2% interest. No minimums for any of them either… For some reason, some savings accounts don’t raise their rates, and others keep bumping up as the federal interest rates go up.

4

THROWAWAYHELLLLL OP t1_ivr9jj9 wrote

I was thinking of switching my savings though, I heard about Ally. There are just none that I know of near me, and I like having one close by just in case I need it (even though I literally do everything online). The best one at my current back is for people who have REALLY HIGH balances, and it has a high minimum. The other options are CDs but I don't want to lock my savings away in case of an emergency. I love my bank, been banking with them since 17, so it's a tough choice. But I really want to maximize.

1

mcgeggy t1_ivrb667 wrote

Yeah, it’s definitely harder to find good rates at brick and mortar banks. I’ve been banking online for over 20 years and love never having to step foot in an actual bank, with all of their other fees to boot. You could always keep your checking in that bank, and open a separate online savings at ally, or other higher yield savings bank.

2

Dreurmimker t1_ivri30g wrote

There’s no need to abandon your current bank entirely. You can keep your current bank for the deposits and day-to-day banking, but transfer excess out to an Ally savings account. Typically less than 2 business days, sometimes faster depending on your bank. This is what I do, and I couldn’t be happier with my experience with Ally. FWIW they are part of the allpoint atm network, so you’d be able to use any of those ATMs for cash if you opened a checking with them: https://www.ally.com/bank/find-atms/

2

THROWAWAYHELLLLL OP t1_ivricxj wrote

Holy crap that is cool. I am deff thinking about it if they have ATMs. Sad they don't have any physical locations but I think I might over look that to get my savings up.i want to make max profit while keeping it liquid just in case I need it.

2