Whats a good way to invest your money in a bank or in a savings account?

Question

could you add money to it monthly?

how long can you not open it?

what are the rates of intrest and how much they give back

what is a cd, a money market account, a bond...etc...

Answer 1

Savings acct. the interest is way to low 1. to 2.25 percent . , a Cd(between 1 year and 10 years) based on rates range between 2 and 4 %, Bonds are more secure but require more money between $5,000 to $10,000 .A money Market acct. pertains to investments like mutual funds , annuities , CD's , Bonds ..etc. It normally takes between $10,000 and $25,000 To open and invest in. For the Money Market Acct. you can turn a better profit because you will be able to get higher rates and be able to invest in more things .

Im not too educated in this but you can do some research through a major bank online like Bank Of America , Citi Financial ..etc.. where they will be able to better explain it to you .

Good Luck... and invest wisely...

Answer 2

Putting your money in a bank savings account is a losing proposition.  You will earn a paltry 1-1.5% on your money.  Sure it's secure and you won't lose your money, but you might as well stash it under your mattress at that rate.  

I would suggest you consider a Certificate of Deposit (CD) and you can choose the length you want, such as 6 months to 5 years.  

Otherwise, you might want to make some safe investments and consider investing in mutual funds.  

They range in the degree of risk you're willing to take, but as a rule, they are far safer than just investing in one stock.  Now that can be very risky because you're putting all your eggs in one basket.  

Be smart, diversify!

Answer 3

besides having a bank account you can purchase CD's. They very in money amounts and once you put the money in you cant touch it for a set amount of time. On the plus side it can be a smarter investment because the rates are a lot better for this. You cant put money in but after your time is up u choose to take your money or keep the same rate for the same amount of time.

Answer 4

I have an HSBC Direct account online and the interest rate is 3.20%. You can add money to it whenever and take money out when you choose. This is a regular savings account.

www.hsbcdirect.com

Answer 5

I would agree that HSBC directs online savings account is a very good product.  With banks competing with eachother, savings account rates are rather competive, meaning you, the consumer is winning.  Rates of online savings accounts are often as good as CD's now.

Make sure too look at any potential fees related to the product you get into.