Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   Investment Talk (https://www.talkofthevillages.com/forums/investment-talk-158/)
-   -   Savings account interest rates (https://www.talkofthevillages.com/forums/investment-talk-158/savings-account-interest-rates-342100/)

dewilson58 06-18-2023 06:38 AM
Quote:
Originally Posted by PersonOfInterest (Post 2227421)
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 06-18-2023 07:34 AM
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 06-18-2023 07:38 AM
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 06-18-2023 07:49 AM
Thanks
 
I wanted the liquidity and dealing face to face. You helped , thank you!

FastAndCurious 06-18-2023 08:39 AM
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 06-18-2023 08:49 AM
Quote:
Originally Posted by FastAndCurious (Post 2227508)
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 06-18-2023 09:18 AM
Quote:
Originally Posted by flash4353 (Post 2227490)
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 06-18-2023 09:21 AM
Truist on 466 for CD rates.

maistocars 06-18-2023 10:22 AM
Quote:
Originally Posted by Hobbiest (Post 2227441)
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

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 06-18-2023 10:36 AM
Quote:
Originally Posted by maistocars (Post 2227544)
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

retiredguy123 06-18-2023 10:39 AM
Quote:
Originally Posted by maistocars (Post 2227544)
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

maistocars 06-18-2023 11:46 AM
Quote:
Originally Posted by retiredguy123 (Post 2227554)
Here is the link. Note that this is Citizens Bank, not the local Citizens First Bank.

Access Denied
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 06-18-2023 05:32 PM
US IBond currently 4.30%

OrangeBlossomBaby 06-18-2023 09:13 PM
Quote:
Originally Posted by flash4353 (Post 2227274)
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 06-19-2023 12:18 PM
Quote:
Originally Posted by dewilson58 (Post 2227460)
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.


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