Whats the average interest rates you get for money in the bank?

[michaelw]

For $11,000 in the bank, my friend made $4.50 in interest

what are the average rates you get?

[Luc]

that's about right.

my checking account makes me about %.05/month. that's half of
one percent.

savings is about .07, and CDs are in the 1-2%.

Man, I remember the days when CDs paid 7%. Fucking economy.

Luc L.

[michaelw]

what exactly is the difference between a savings and a checking account?

[cashalot]

why put it the bank and make only 2-3%. Put that in some stock and make about 5-8% if not alot higher. the market is going up now so you can easily make that!!

[Luc]

Originally posted by cashalot
why put it the bank and make only 2-3%. Put that in some stock and make about 5-8% if not alot higher. the market is going up now so you can easily make that!!

you kidding?

the market is in shit right now, only an idiot would buy stock.

when the holidays come along though, that'll be different.

i'll buy some BB shares as they always seem to go up after
the holidays.

ll.

savings = you put money in and can't make checks.
checking = you put money in, and you can make checks.

[cashalot]

nows the time to buy stock, when its at its lowest. thats where the saying came from "buy low sell high"

the market is at its lowest so you buy and in a year or whenever you sell!!

[HarlotCash Dyker]

Nows the time to buy dollars - They will not always be worthless.

[McSpike]

banks are for nobrainers. if you have at least a few brain cells you'll invest in other shit than banks.

[McSpike]

btw, michaelw, read your email. I sent you one 3 days back, I sent you an ICQ message and nothing. Sending same copy to d2store addy again. Read it.

[rowan]

ING Direct (Australia) is an online bank - no branches. They pay 4.75% p/a and charge no fees. Interest is calculated daily, and paid monthly. It's a pretty sweet deal, and other banks are starting to copy it now. Some are offering rates in excess of 5.00% p/a if you keep your balance above $AUD2000. Why bother with term deposits that have lower rates, interest paid on maturity only, and your money locked away for X months...

When ING first started their rate was 6.95% p/a for a few months. Wish I'd had some cash back then to throw into it!

[lexr]

Originally posted by cashalot
nows the time to buy stock, when its at its lowest. thats where the saying came from "buy low sell high"

the market is at its lowest so you buy and in a year or whenever you sell!!

[Dacky]

Originally posted by michaelw
what exactly is the difference between a savings and a checking account?

Savings account as far as I know is "notice" account........to get higher interest % on your money you have to give notice to the bank 1 month in advance (depending on the bank and the deal) that you will withdraw some amount of money.
Checking ..... you get checks and you spend your money as you like and get less interest %.
I get 3% i think..... When bank is advertising it than is 4-5% but don't be suprised if you find it going down after few months when bank gets enough new customers.

[freeadultcontent]

Originally posted by rowan
ING Direct (Australia) is an online bank - no branches. They pay 4.75% p/a and charge no fees. Interest is calculated daily, and paid monthly. It's a pretty sweet deal, and other banks are starting to copy it now. Some are offering rates in excess of 5.00% p/a if you keep your balance above $AUD2000. Why bother with term deposits that have lower rates, interest paid on maturity only, and your money locked away for X months...

When ING first started their rate was 6.95% p/a for a few months. Wish I'd had some cash back then to throw into it!

What he said about ING, I use that place.

[evildick]

How are you getting 4+% from ING? Last time I looked into their premium rate savings it was around 2%.

I just set up a similar deal at my bank and they are paying around 2.25%, and I have access to it through bank machines, no fees, etc.

To get any higher I would have had to buy GIC's and lock it in.

[myjah]

just opened new savings account and its earning a whopping .60% that they will so kindly apply in one full year! Woo Hoo! How long do u think til I make my first mil?

[BV]

At least 50% of Prime

[Dacky]

Originally posted by BV
At least 50% of Prime

[HEARTBREAKER]

1% per annum

[Shok]

Originally posted by Luc


you kidding?

the market is in shit right now, only an idiot would buy stock.

That's retarded.
Airline stock is the shit right now.
I picked up a shitload of AMR at 2 bucks a share, sold at 13 about a month later.
Grabbed Airtran at 6 and sold at 17 about 3 months later.
Those are great returns in a very short time.

I'll wait for another dip and buy more. The airlines are working out of their rut and they will pay off big.

Im holding onto my XM Satelite for awhile though, that has been slowly getting bigger and bigger.

[cmwkings]

Originally posted by McSpike
banks are for nobrainers. if you have at least a few brain cells you'll invest in other shit than banks.

AMEN. If you have half a brain, you can easily make 30-50% return on your cash each year in Real estate. Buy a property, fix it up and flip it. A simple search on google for the hottest Real Estate markets is not hard to find. I know where they are but I'm not telling. I've over doubled my initial investment of $100K in just 1 year, 8 months. Not to mention my credit rating has shot through the roof. Use cash as leverage. I started with one home now I got 5 and closing next month on a 6th house an renting it out.

However, banks are necessary to keep cash. I use American Express Brokerage through their Platinum membership program and get 2%. That's the most I've seen and believe me, I've looked for a "locked down" rate. Your can get more on a money market account but you risk is involved depending on the one you pick. I also keep a lot of cash at Washington Mutual which currently yields 1.77% on a liquid account (savings/checking) which is nice.

Stocks are for people with large amounts of cash, say $250K min and know what they are doing, have an excellent broker or both. Otherwise, don't fool with it if you're flying blind. That's for people that either don't know how to use money to make more of it or are just plain stupid.

Hope this helps....

[qwe]

what about canada/torono ? anyone making decent money with real estate ?

[triumph]

about .065 percent. which is pretty fucking bad.

fuck you banks

[FlyingIguana]

Originally posted by cashalot
why put it the bank and make only 2-3%. Put that in some stock and make about 5-8% if not alot higher. the market is going up now so you can easily make that!!

don't count on that. there's a slight possibility of a major crash. have to watch the dollar very closely to catch it.

stocks have run up a lot over the past year and if the economy doesn't pick up like everyone hopes, stocks will drop.

[FlyingIguana]

Originally posted by evildick
How are you getting 4+% from ING? Last time I looked into their premium rate savings it was around 2%.

I just set up a similar deal at my bank and they are paying around 2.25%, and I have access to it through bank machines, no fees, etc.

To get any higher I would have had to buy GIC's and lock it in.

it was australia, must be higher interest rates there

[AlxCds]

saving account - union planters bank - shittiest place ever. 0.05%. wtf. not even 1%!