Sunday, November 19, 2006

More Bang For Your Savings Bucks

Some of the best sources of information comes from the most surprising of sources. Larry Haverkamp aka Dr Money of The New Paper runs a wonderful website

Take a look at the Best Bank Deposit Rates link to some ideas for better deposit rates for your savings account. For those who need a fast answer, take a look at Standard Chartered's eSavers' account and Maybank's iSavvy account. Both are online savings account with no lock-in period, and you will be paid 1.88% minimum (bid sayonara to 0.25%!) The only catch is that it will be slightly harder to withdraw cash, but you can work around that with a little bit of planning by doing online transfer to a local bank account a few days in advance.

For those with more cash and can tolerate a little lock in, did you know that get 3% or more? Go take a look at the website for some ideas to make your idle cash work harder, relatively risklessly.

PS I am not related to or paid by Larry Haverkamp or The New Paper or Standard Chartered or Maybank.

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