[Ptmckiou]

Bank of America has a tier system depending how much you have in your savings account. Up to 4%. I’m currently getting 3.3% on savings. Plus, on top of that, if you use their Visa card you can get up to 3% cash back on all purchases. They deposit the 3% cash back monthly into your savings account.

[retiredguy123]

Originally Posted by Ptmckiou

Bank of America has a tier system depending how much you have in your savings account. Up to 4%. I’m currently getting 3.3% on savings. Plus, on top of that, if you use their Visa card you can get up to 3% cash back on all purchases. They deposit the 3% cash back monthly into your savings account.

Huh? Can you please explain what type of savings account at Bank of America pays 4 percent interest? I have a Bank of America VISA credit card account, and I don't see any savings rates that are anywhere near 4 percent. According to their website, their Platinum Honors Tier savings account is paying 0.04 percent. Did you get the decimal point in the wrong place?

[M2inOR]

Originally Posted by retiredguy123

Huh? Can you please explain what type of savings account at Bank of America pays 4 percent interest? I have a Bank of America VISA credit card account, and I don't see any savings rates that are anywhere near 4 percent. According to their website, their Platinum Honors Tier savings account is paying 0.04 percent. Did you get the decimal point in the wrong place?

I agree. I think other person misinterpreted the listed 0.04% as 4%

I just checked, too, thinking I missed a great deal:

Account name, Interest Rate, APY, Minimum Deposit
Advantage Savings, Platinum Honors 0.04% 0.04% $100

[mrf0151]

Originally Posted by Michael G.

Finally....., Us "poor" people are finally getting a brake on our savings rates.

What's your gut feeling on On-Line savings accounts?

Rates very tempting.

Cheers TV People!

Have had Synchrony on line High Yield savings for years. Easy to get your money anytime. Pays much higher than banks.
Treasury I-Bonds are something to look at. Current yield is 9.6%. Check out the pros and cons, but I think you will see it is a really good thing to do for money you don't need right away.

[jimschlaefer]

I personally limit my exposure, regarding personal information, as much as possible from the public Internet. Huge advances have been made in security of systems, et al. But the truth be known, most companies are way behind in their ability to protect private and corporate data. Many in my family use Internet services with their banks, stocks, and many other things that require you to share your PII (Personal Identifying Information). My attitude is, if I don't need it and it's all about convenience, I'll wait a bit longer before using it.

[haysus7]

Look up I-bonds from the USTreasury 9.25% on $10,000.00

[clouwho]

Originally Posted by mrf0151

Have had Synchrony on line High Yield savings for years. Easy to get your money anytime. Pays much higher than banks.
Treasury I-Bonds are something to look at. Current yield is 9.6%. Check out the pros and cons, but I think you will see it is a really good thing to do for money you don't need right away.

We have also had Synchrony online bank hi yield money market and CD accounts for our short term money for years.
Current 19 month CD is 2.65%.

We also have a different account with NASA FCU (don’t have to work for NASA to open account) that is 2.75% for 15 months that we have had for years.

Are these rates keeping up with inflation. Nope. But they are for our near term bucket of funds that need to be kept safe and liquid. The days of rewarding savers ended in the early 2000s (although I am happy to say I had 4.5% CDs for a couple of years when trump was president (and inflation was under 2%). It is all about borrowers and propping up the market now.

I bonds are great right now, but have an pathetic low ceiling of $10k per person per year. There are strategies to tweak that and buy more but you need to look that up on internet where financial advisors have outlined how to do so specifically and follow instructions to the letter.

I frequently check with bauerfinancial.com to verify the rating and financial standing of our banking institutions. Don’t assume that because your bank had a great rating two years ago, that it still does.

[retiredguy123]

Originally Posted by M2inOR

I agree. I think other person misinterpreted the listed 0.04% as 4%

I just checked, too, thinking I missed a great deal:

Account name, Interest Rate, APY, Minimum Deposit
Advantage Savings, Platinum Honors 0.04% 0.04% $100

So, if you maintain a balance of $2,500 in the account, they will pay you one dollar in interest per year. If I were Bank of America, I would be ashamed to even offer an account like that, and call it "Platinum Honors".

[fgaba1949]

Originally Posted by JohnN

What are the rates these days? Last time I looked they were .2%

Discover CD 2% for 12 months
Marcus a little more

[Michael G.]

Originally Posted by fgaba1949

Discover CD 2% for 12 months
Marcus a little more

CAREFUL.....Marcus is and uses hedge funds, and you know how wild they can be.

[Babubhat]

Check Fidelity. Treasury rates usually higher than cd. Ignore the link error message

Fidelity.com is Temporarily Unavailable

[manaboutown]

Well I bit the bullet and bought an I bond on TreasuryDirect. It is a drop in the bucket but thought I might as well go for it.

I wonder how the Fed's action this week will affect T Bill rates?

[Caymus]

Just received an email from Citi that they raised the rate to 1.4%. Now only losing about 9% to inflation

[twoplanekid]

Free investment advice and how the Villages is doing with your monies - follow this link ->

https://district.novusagenda.com/AgendaPublic/CoverSheet.aspx?
ItemID=59520&MeetingID=2201

a lot of data to view plus a few trends to think about -

If you have questions, I will be attending this 9 AM investment advisory meeting August 2 at the Savannah Center to ask your questions and or you are always welcome to attend in person.

[Blueblaze]

Originally Posted by haysus7

Look up I-bonds from the USTreasury 9.25% on $10,000.00

Wow, what a big help! So the FED that created 20% inflation will let you protect almost two month's worth of your annual spend rate from inflation if you loan it to them, instead! How generous of them!