What's the way to make the highest interest on some cash, that doesn't tie it up for to long?
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It depends on your tolerance for risk, how much access you have to have to the money, etc. For straight savings, some Flutherites have used ING Direct, a Web bank that pays higher interest rates. It is FDIC insured.
The stock market is the quickest way, but its also the riskiest by far.
Drug dealing, yayo!
Disclaimer: This is an irresponsible joke.
HSBC has an online savings account that gets 3% interest monthly and you can take the money out whenever.
@hollywoodduck, I fear you have taken the annual percentage rate, not monthly!! 3.05% APR is yearly.
Check out bankrate.com for up-to-date info on the highest interest rates for money market accounts and high-interest savings from tons of banks. The best deal tends to change week-by-week. Plus, bankrate seems unbiased.
My fave short term stuff (less than 2 years) are CD’s (certificates of deposit). Banks are always throwing out good rates on varying length CD’s. I recently got one for 6 months at 4.5% which is a rate you’d get for an 18 month or longer. Shop around. The only negative is that your money is locked for the term of the note. Have fun shopping!
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