Savings Acount Question?

Should I take a savings account with a bank that offers a high intro rate or high APY? I am not concerned about minimum balance.

Savings Acount Question?exchange rate

This is simple. Put your money in the high intro rate savings account until the intro period is over, and then move it to the high APY account for the long term.

If you can%26#039;t make that move for some reason, then decide now how long you are keeping this money and let that determine where to put the cash. In other words, if you are just putting this money away for long-term savings then just stash it in the high APY account.

Savings Acount Question?

loan

I disagree with the bank jumping scenario. You are human and you will eventually be busy if you%26#039;re not already now. Most banks make money by teasing you with high intro rates, getting your deposit, then using the sleeping dogs technique until you%26#039;ve been lulled to sleep and then they give a total crap rate for the rest of eternity.

Your best bet is to open a money market mutual fund for any funds that you won%26#039;t need on hand (most will have a checkbook for checks written for $500 or more). Most are similar in yield and over the long-term you are far more likely to come out ahead since you get the market rate instead of the bank determined rate. Last I checked, if I%26#039;m the bank, I%26#039;d cut your rate too so that I could make a few extra bucks!