Question

I've been pondering something for a while now and I'm finally needing help guys. I only have one credit card and we keep it low so the balance is definately paid each month (only have it to keep a good credit score and that's it). I have no debt other than that, going to be graduating with another Associates degree in December, and currently renting from my grandparents downstairs apartment. Recently we've been wanting to save up to be able to buy a house or at least a mobile home (which needs land too) in a year or two. Maybe a little longer. My question is what kind of bank account would you guys suggest to open in order to leave some money in there and just forget about it (and add to it) until we have enough saved up? I know we won't be able to save up enough to buy outright but we want to be able to have enough saved for buying a different place. Our credit union bank offers a Money Market account with a 1. 20% rate. Is that good? Other online options that you guys trust and have? Pros and cons of those accounts? Any help appreciated. Even tips on buying a house for the first time I definately appreciate. Thanks guys!  

Answer 1

Capital one savings accounts offer 1. 9% . set up direct deposit to go straight there and forget about it!  

Answer 2

Some credit unions pay excellent interest rates. See if there is one near you at Ncua. gov If not, look for a money market account or a high yield savings account paying about 2% or more. One place to compare rates is Bankrate. com

Answer 3

A coworker swears by Ally bank online.  

Answer 4

Go to a mortgage broker and see what you need to buy a home. There are first time home buyer programs.  

Answer 5

I love Amexsavings and discover. I have ally but I dont like that it takes more time to transfer the money sometimes 5/6 days.