Smart Easy Ways to Get Top Yields:
1. 4.30% with Interest Checking:
You can earn 4.30% at Royal Banks of Missouri, but only on deposits up to $25,000. Like other rewards checking offers, in order to qualify for the 4.30% you have to get an account at a {Missouri|local) branch, make 10 signature debit purchases and one EFT transfer EVERY MONTH - for the majority of savers that is too overwhelming.
2. Up to 7.4% at Bank Loan Mutual Funds:
Three of the best bank loan mutual funds for this year according to SmartMoney Magazine are: 7.4% at Nuveen Senior Income(NSL), 6.6% at ING Prime Rate Trust(PPR),and 4.4% at Fidelity Floating Rate High Income(FFRHX).
Be aware that these investments are NOT Government insured, and have risks like: high price volatility, restricted access to your cash (you can only withdraw quarterly or once a month), and the underlying bank loans you’re laying out capital for are made to companies in trouble and the default rate on these kinds of loans is currently 9.10%.
The good news is these investments provide steady income and will yield more income as the economy recovers and interest rates increase. Because bank loan mutual fund prices are still low, you're also likely to gain from capital appreciation as well.
3. 1.55%+ Online Savings Accounts:
Zero Risk, FDIC Insured, increase with inflation, and allow access to your cash 24/7. As the economy rebounds, rates on money market accounts will increase; though the rates may not seem impressive right now, they're probably going to increase in 2010.
Smart investors will make a habit to check money market rates at a web site like RateCatcher to ensure they’re earning the highest rates available.
Online, it only requires 5 minutes to open an account; then you can take advantage of the upcoming rate increases. So, beef up your emergency fund without delay by opening a online savings account today.
About the Author:
Skyler Christensen has earned a Bachelor's Degree in Business Administration and writes about investing at RateCatcher.
His mission is to improve investor's ROI managing away risk.
Consumers will boost their gains on http://www.ratecatcher.com by going to http://www.RateCatcher.com now.
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