Where to deposit my saving?

Question

Which bank would give me the best interest rate? (NJ)

Is there any alternative to banks that can guarantee safety of money but give me a good sum of interest rate?

the amount of the money would be around 15,000 - 20,000 USD

Answer 1

Banks give you peanuts. Invest in the stock market. Some good blue chip stocks will give aprox. 8%, banks migh t give your 1%.

Answer 2

You can put your zip code in and get current rates on CD's

http://bankrate.com/

another choice is money market funds but they usually are not covered by the federal government.  CD's are up to $100,000

Answer 3

If you are looking for a bank deposit you should look outside USA. Somewhere in Europe.

But to my mind the best way to invest money is to invest in someone's business. It's safer and more profitable. I have invested in my friend's small business and now I am getting guaranteed 40% annual interest.

I wish you success!

Answer 4

Ingdirect and etrade offer rates much higher than banks and their rates for savings accounts are fairly close to CD's however you have instant liquidity. Your account is automatically insured for $100,000.