Saving account with a monthly intrest rate,not yearly?
Answers:
Banks lists their rates in terms of APY to allow for easier comparisons. Just calculate the APY then divide by 12 months. Why not put the money in a money market account. Just find one that if FDIC insured (just like checking) which is most. You are limited to writing around 5 checks a month. You could keep a checking and money market account and float the money around. It takes a little effort to transfer the money back and forth. The best you'll do in a checking is around 2%/12. In a money market, you'll do 5%/12.
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http://www.bankrate.com/
There isn't a monthly savings account. If you want a better APY invest in a Money Market account.
HSBC (www.hsbcdirect.com) is paying 5.05% interest on savings accounts. I have been doing business with them for one year and have had no problems at all.
I know a company currently offering 12% after six months.
I am a Portfolio Manager.
I know several banks in the Philippines that offers 20% interest per annum net of tax, interest payable monthly and is covered by 12 post dated checks yearly. It is totally secured by PDIC. The banks (12 banks and growing) are a member of a group of companies that has interest in lending, credit cards, motorcycle assembling, pension and education plans marketing,newspapers and mutual funds You can email me for more information
I use GE Interest Plus it adjusts whenever interest rates does.
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