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Gmaof8
New Member

Little savings, where should I put it for best interest rate. I am a senior citizen and need to have easy access.

$10000 savings. Where best to save as a senior?

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Little savings, where should I put it for best interest rate. I am a senior citizen and need to have easy access.

This begs the question of what you consider "easy access".

 

There are a number of internet (online) banks that are currently offering in the neighborhood of 2% interest on savings accounts but there are typically restrictions on the number of withdrawals that can be made. 

 

See https://www.bankrate.com/banking/savings/rates/

 

If you drive over to your local (brick and mortar) bank, you will most likely get a very nominal rate of interest unless you commit your funds to a longer term, such as a CD or money market account.

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1 Reply

Little savings, where should I put it for best interest rate. I am a senior citizen and need to have easy access.

This begs the question of what you consider "easy access".

 

There are a number of internet (online) banks that are currently offering in the neighborhood of 2% interest on savings accounts but there are typically restrictions on the number of withdrawals that can be made. 

 

See https://www.bankrate.com/banking/savings/rates/

 

If you drive over to your local (brick and mortar) bank, you will most likely get a very nominal rate of interest unless you commit your funds to a longer term, such as a CD or money market account.

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