Money market/savings rates?

[Bill M]

Who has the best rates these days for parking dollars temporarily? Thanks.

[Throwin Darts]

I use Ally Bank. Not sure if they are the highest but their online savings account and their money market both pay 1.40% right now

[Avid Hunter]

If you are ok parking them dollars for atleast a year, check out series I savings bonds.

[Bill M]

I use Ally Bank. Not sure if they are the highest but their online savings account and their money market both pay 1.40% right now

Thanks for the info.

If you are ok parking them dollars for at least a year, check out series I savings bonds.

Will use it to build a new house so a year won't be happening. Thanks.

[Jon B]

Tagged - interested as well

[jtd498]

Marcus by Goldman Sachs >>> high yield savings account is at 1.5% right now

[orchard]

Crazy. We live in a day and age where "high yield" is 1.5%

[Saltyag15]

Crazy. We live in a day and age where "high yield" is 1.5%

Yes, and I feel that banks haven't responded to the rise in fed rates. I know they don't have to 100% correlate together, but rates our rising everywhere accept with our savings.

[Mitchell8]

Marcus by Goldman Sachs >>> high yield savings account is at 1.5% right now

Same. It’s saving account not investment. Made for short term and easy to withdraw.

[Throwin Darts]

Yes, and I feel that banks haven't responded to the rise in fed rates. I know they don't have to 100% correlate together, but rates our rising everywhere accept with our savings.

There are more dollars deposited in US banks right now than at any other time in history thanks to the trillions that were pumped out by the gov't during Covid. All those PPP "loans" just got deposited in banks. Banks have excess liquidity and don't need any more. They have no incentive to pay up for deposits to attract more when they don't have enough loan demand to lend out the dollars they already have. Don't hold your breath waiting to earn a bunch on deposits. Not going to happen

[HuntForHorns]

lending club 2.07%

lending club 2.07% is the best I can find right now.

https://gobank.lendingclub.com/high-yield-savings/?utm_source=nerdwallet&utm_medium=referral&utm_campaign=00533&pid=28

[Saltyag15]

There are more dollars deposited in US banks right now than at any other time in history thanks to the trillions that were pumped out by the gov't during Covid. All those PPP "loans" just got deposited in banks. Banks have excess liquidity and don't need any more. They have no incentive to pay up for deposits to attract more when they don't have enough loan demand to lend out the dollars they already have. Don't hold your breath waiting to earn a bunch on deposits. Not going to happen

Good info, thanks.

[texasdeerhunter]

There are more dollars deposited in US banks right now than at any other time in history thanks to the trillions that were pumped out by the gov't during Covid. All those PPP "loans" just got deposited in banks. Banks have excess liquidity and don't need any more. They have no incentive to pay up for deposits to attract more when they don't have enough loan demand to lend out the dollars they already have. Don't hold your breath waiting to earn a bunch on deposits. Not going to happen

This is 100% accurate. Although I do think you will gradually some increase in deposit rates, it won’t be anywhere close to how fast the Fed is moving their rates

[gingib]

Look at a CD. Seen rates over 3-3.5% rather short term

[BrianL]

Look at a CD. Seen rates over 3-3.5% rather short term

Yep CDs rates are starting to come back. If doing Jumbo there are some pretty good rates right now.