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Chasing Interest Rates

It’s been almost impossible the last few years to find a safe FDIC-insured savings account that pays any kind of meaningful interest rate, but a few online banks are finally peaking the 1% mark. Not great – but if you need to park some money in a totally safe account here are a couple options:

GE Capital Bank pays 1.05% – www.gecapitalbank.com

CiT Bank pays 1.0% – www.bankoncit.com

Ally Bank pays .99% – www.ally.com

Of the three, Ally’s website is easier to use and downloads to Quicken, with GE a close second in ease of use, but unfortunately it does not offer a Quicken download.

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