Whats the highest savings account interest rate, and CD interest rate, you know of?
I have recently put together a budget, originally for the intent of seeing if I could afford a new car (which thankfully I could), but now I’m hoping to maintain one to simply be more organized. As part of this I want to implement a savings plan that I have done a few times in the past. Basically the plan is to save $25 or so dollars a week in a savings account, and when it gets to $500—$600 I empty it into a CD with good interest, then repeat, while rolling over the CD’s as they mature.
Well in the past the problem that always happened, was that I’d get a few hundred saved up and some emergency cost would come into play. A tire blew out one time, a room mate didn’t pay his chunk of the rent and the rest of us had to cover his to not get evicted, etc, etc, etc. BUT, now I find myself in a more stable position, and if my budget works out I plan to start putting money away again following the same plan.
The question basically is, what are the highest savings account and CD account, interest rates you know of? They would have to be the type I could open over the internet or at a national bank that would have a branch here (unless you know of a smaller bank/credit Union that would allow me to set up an account over the phone or what not). I had been using an Orange account online, but they changed their interest rates so I’m trying to look around again.
This question is in the General Section. Responses must be helpful and on-topic.