Best Interest Rate Accounts

I am currently Citibank and they do not offer interest rates of 4.5% on savings accounts until I have at least 10K in it. Right now I have about 5 km and I wanted to see if there were banks that offered a good interest rate with little or no minimum. I also noticed Citibank takes some time to clear checks which was a little embarrassed. Apart from interest rates, an opinion on the best bank for a young professional looking to save as much money as possible with little hassle? Thank you!

You can open a Citibank e-Savings. It gives TRA 4.5% with no minimums. Its an online savings account and the minimum you need in there is $ 1.00 to keep the account active. Even though many companies say "no minimum balance," they really mean that you should be able to keep $ 1 in there.

You should also check out HSBC Direct and EmigrantDirect since both give a TRA 5.05%.

But if you really want to create wealth, you need to start investing. You ask a rich person on how much wealth they accumulate, they say they invest their money. I have not met a single wealthy person who has all or most of their money in a bank account.

If you currently have a job, you can open an IRA account. I do not want to open it in a bank because they invest your money in fixed accounts. Accounts guarantees an interest rate for life, but they may not be able to keep up with inflation. So you want to put mutual funds in your IRA account. mutual fund has done (at least those that I deal with) has an average yield of 12% over the last 25 years. Since you say you are young, I would invest in the Fund Growth Fund Aggressive Growth or large and in a mixture of large fund.

If you save $ 200 per month with a 5% rate of return in 30 years you will have $ 167,145. Of course, all interest earned in the account are taxable. So, your rate of return is actually lower.

At a rate of 10% return in 30 years, you might have $ 455,865. You can get 10% rate of return by investing in mutual funds. You pay taxes on capital gains and dividends on it. Unless you put them in an IRA account, then you do not have to pay taxes each year. It grows tax-deferred.

At a rate of 12% efficiency in 30 years, you might have $ 705,982.

I hate Citibank for a million reasons. Try Commerce Bank (I use the one at Madison and 42nd.) The only problem I had was that they were not connected at each corner of the Citibank and do when you travel outside the state (eg Florida) you will not find one or the other and rely on using your card to other bank facilities to withdraw money. But the customer service and clearing checks are 100 times better.

You can try an ING Direct online banking. They have a few branches and have a decent interest rates.

Check bankrate.com they have several sections for the bank rate and realted you can search by region.

You need a savings bank is not a commercial bank, try Dime Savings Bank, Roosevelt Savings Bank, NYCB Family of Banks, (www.mynycb.com), all these elements are in New York.

Paypal is the best bank for that, Bill Gates and all these people find the economy through this bank, more the service is excellent