Savings account interest rates

[flash4353]

Which banks in or near The Villages offer the best rates on a savings account?

[retiredguy123]

Not a bank, but the best rates available are on a Fidelity cash reserves account, 4.75 percent, or a Vanguard cash reserves account, 5.05 percent. Totally liquid and you can get checkwriting, all for free. There is a Fidelity office at Lake Sumter. Both are way better than a bank.

[JGVillages]

Which banks in or near The Villages offer the best rates on a savings account?

Capital One Bank online currently offers 4.10 % with no minimum balance FDIC insured. Easy to transfer back and forth between your local bank and Capital one.

[mrf0151]

PNC High Yield at 4.5% and Synchrony on line is High Yield at 4.3%

[retiredguy123]

PNC High Yield at 5.5% and Synchrony on line is High Yield at 4.3%
Do you have a link to the PNC 5.5 percent rate? I couldn't find it.

[Stu from NYC]

Getting about 5% on a Rowe Price mm account.

[coralway]

Which banks in or near The Villages offer the best rates on a savings account?




Check out the High Yield Savings Account with American Express

[MrFlorida]

Online banks usually provide higher rates than local banks. Check Mybanc or Synchrony bank online.

[Michael G.]

Online banks usually provide higher rates than local banks. Check Mybanc or Synchrony bank online.

I wish I felt differently about investing money online.
My age I guess.

[dewilson58]

I wish I felt differently about investing money online.
My age I guess.

Since we are talking about Savings Rates, 1% (even 2%) difference in rates is immaterial.

Very little $$$ should be sitting in a savings account.

If "you" require Insured dollars in your portfolio, "you" should be laddering CD's....not parking money in a savings account.

[PersonOfInterest]

Since we are talking about Savings Rates, 1% (even 2%) difference in rates is immaterial.

Very little $$$ should be sitting in a savings account.

If "you" require Insured dollars in your portfolio, "you" should be laddering CD's....not parking money in a savings account.

If 1-2% are insignificant then why would you bother with a CD unless it had a yield above 6%? Where do you find CD's that are more than 2% above what high yield savings are offering?

[Hobbiest]

Right now Citizen’s Bank is offering a 4.5% interest rate with a $1 minimum deposit. An independent source that scans nearly every available rate is a company called Bank Rate. They gather and organize rates on many investment products.

Bankrate: Guiding you through life's financial journey (https://www.bankrate.com/)

Monthly I find the best available rate then, if necessary, move funds. Throughout the course of a year I earn about a week’s worth of “free” groceries for my effort. Is it worth it? Well, there aren’t as many activities that “cost” 15 minutes of computer time for such a handsome return. ������

[MidWestIA]

not a bank but look at jepi pays monthly

[Alarmed]

I second Coralway's post on American Express. They pay 4% with a minimum deposit of $1,000.00

[dewilson58]

not a bank but look at jepi pays monthly

85% invested in stocks.

:1rotfl::1rotfl:

[dewilson58]

If 1-2% are insignificant then why would you bother with a CD unless it had a yield above 6%? Where do you find CD's that are more than 2% above what high yield savings are offering?

The point is..................no need for a savings account as an investment.
As stated, "If "you" require Insured dollars in your portfolio, "..................use CD's and get a higher rate and have liquidity.

:loco::loco:

[JRcorvette]

If you want a local BANK with I believe you asked for the Mid Florida CU has 3% on their Saving Account. That is the best I have found for Local.

[rsmurano]

Never use a local bank savings account, you will always lose money. The money in your taxable accounts that is not invested can be put into a MM fund paying close to 5%. If you need the cash, sell part of the MM.

[flash4353]

I wanted the liquidity and dealing face to face. You helped , thank you!

[FastAndCurious]

6-18-23 from Fidelity. Not exactly a bank account but you can get a checkbook to draw from your core account when you need cash. I also like the felxibility of using shorter terms to ladder the funds.
All this is easily done by you online with no need for an expensive account manager.

3mo 6mo 9mo 1yr
CDs (New Issues) 5.35% 5.35% 5.35% 5.45%
BONDS
U.S. Treasury 5.25% 5.30% 5.29% 5.28%

[dewilson58]

6-18-23 from Fidelity. Not exactly a bank account but you can get a checkbook to draw from your core account when you need cash. I also like the felxibility of using shorter terms to ladder the funds.
All this is easily done by you online with no need for an expensive account manager.

3mo 6mo 9mo 1yr
CDs (New Issues) 5.35% 5.35% 5.35% 5.45%
BONDS
U.S. Treasury 5.25% 5.30% 5.29% 5.28%

:BigApplause:

[Stu from NYC]

I wanted the liquidity and dealing face to face. You helped , thank you!

If you want it go for it. For me like the liquidity as well as higher rates

[2newyorkers]

Truist on 466 for CD rates.

[maistocars]

Right now Citizen’s Bank is offering a 4.5% interest rate with a $1 minimum deposit. An independent source that scans nearly every available rate is a company called Bank Rate. They gather and organize rates on many investment products.

Bankrate: Guiding you through life's financial journey (https://www.bankrate.com/)

Monthly I find the best available rate then, if necessary, move funds. Throughout the course of a year I earn about a week’s worth of “free” groceries for my effort. Is it worth it? Well, there aren’t as many activities that “cost” 15 minutes of computer time for such a handsome return. ������
What Citizens account is that? I just looked and they pay either .07% or .01%......

[Caymus]

What Citizens account is that? I just looked and they pay either .07% or .01%......

Probably referring to Citizens Bank, not the local Citizens Bank and Trust.

Best Savings Accounts - Compare rates at Bankrate.com (https://www.bankrate.com/landing/savings/rates/?pid=sem_savings_autobidding_bing&sortprods=&prods=&ttcid=savings%20account|c|kwd-79027990899346:loc-4100|o|102803&utm_term=savings%20account&utm_cmpid=506095727&utm_adgid=1264439373956964&utm_tgtid=kwd-79027990899346:loc-4100&utm_mt=bb&utm_adid=79027604247539&utm_dvc=c&utm_ntwk=o&utm_locphysid=102803&utm_locintid=&adused=79027604247539&targetid=kwd-79027990899346:loc-4100&loc_physical_ms=102803&network=o&msclkid=950b8acf52c810de2872ee4071dda3cb&utm_campaign=sem_savings_autobidding_bing&utm_mt=b&utm_adid=&utm_devicemdl=&utm_plcmnttgt=&utm_source=bing&utm_medium=cpc&utm_content=p%3AB%20%7C%20Savings%3A%20Broad)

[retiredguy123]

What Citizens account is that? I just looked and they pay either .07% or .01%......
Here is the link. Note that this is Citizens Bank, not the local Citizens First Bank.

Access Denied (https://www.secure.citizensaccess.com/Citizens/save?ctzMode=MKL-LRA_BRT_SAV_CAX_CAXDP_SBRTQTHREE&utmsource=bankrate&param)

[maistocars]

Here is the link. Note that this is Citizens Bank, not the local Citizens First Bank.

Access Denied (https://www.secure.citizensaccess.com/Citizens/save?ctzMode=MKL-LRA_BRT_SAV_CAX_CAXDP_SBRTQTHREE&utmsource=bankrate&param)
Ahh, thank you! Interesting there are 4 different "Citizens" banks that come up with the Villages one, Citizens First, paying 2% on balances under $1M. This one you provided the link to is an online-only bank , but does pay the 4.5%. Thanks again!

[Sharon5]

US IBond currently 4.30%

[OrangeBlossomBaby]

Which banks in or near The Villages offer the best rates on a savings account?

I'm very glad that out of these two pages of responses, you at least got erm - three responses that answered the question you asked. It's useful information to anyone who is looking for a brick-and-mortar bank at or near The Villages to provide a Savings account, and not an investment account, a CD, bonds, etc.

[Whitley]

The point is..................no need for a savings account as an investment.
As stated, "If "you" require Insured dollars in your portfolio, "..................use CD's and get a higher rate and have liquidity.

:loco::loco:


If you have several hundrek k, (first, God Bless) and want to put it into CD's but are afrain of the FDIC, look into CDAR's. Work similar to an ICS account.

[Blueblaze]

6-18-23 from Fidelity. Not exactly a bank account but you can get a checkbook to draw from your core account when you need cash. I also like the felxibility of using shorter terms to ladder the funds.
All this is easily done by you online with no need for an expensive account manager.

3mo 6mo 9mo 1yr
CDs (New Issues) 5.35% 5.35% 5.35% 5.45%
BONDS
U.S. Treasury 5.25% 5.30% 5.29% 5.28%

Heck, even the sweep fund at Fidelity is running close to 5% right now.

Just don't be fooled into thinking bonds will save you. My Fidelity adviser talked me into a managed corporate bond portfolio that was supposed to guarantee 3% when banks were paying 0.1% -- with virtually zero risk. Then, the Covid panic hit the next month, and I lost 30% in ONE WEEK. I'm screaming on the phone to my adviser -- "What the hell is going on? Why would anybody in their right mind sell a AAA bond at a 30% discount?".

And yet, they did. But it recovered. Eventually. Six months later, I was a mere $3K down, so I ordered it all back into the sweep fund and closed the managed account. With fees, that little adventure in "safe" returns merely cost me $5K. .

Regardless of what you do, you are exposed to the corruption of the market and the whim of idiots. The stock market is the worst -- you're just trading chips with company names on them that have virtually no underlying value or relationship to the company. If you get a dividend at all, it's just a token, not your slice of the profits.

The truth is, stocks are merely a form of fiat money issued by companies for their own benefit. Yes, I've made a lot of money in the stock market in my life. And I also lost half my entire retirement savings in 2008, invested in such unshakable blue chips as "Sun Trust", with balance sheets that turned out to be outright lies. Wall Street has become a corrupt game of high-stakes liars poker. Don't bet anything you can't afford to lose forever overnight.

Frankly, the crooks have ruined investing for peons like us in retirement. I don't know what else to do at this point but buy real estate to cover inflation and keep the money I need to live on in cash. What are you gonna do? Stack gold coins in your safe? Thank God, at least we're finally getting a measurable rate of interest. Even in a 20% inflation environment, 4% has extended my cash savings 10 years, thereby proving the theory that something is better than nothing.

That'll do.

[Babubhat]

Vanguard money market. 5.05 percent.

[dewilson58]

If you have several hundrek k, (first, God Bless) and want to put it into CD's but are afrain of the FDIC, look into CDAR's. Work similar to an ICS account.

:1rotfl::1rotfl::1rotfl:

U IZ ain't talking to Villagers.


:oops: