where to get the best interest rate on a checking account, since 3.55% is going down to 1.25%? (funds, pay)

[howard555]

My bank had a "dream checking account" that paid 3.55% on balances up to $30,000 with restrictions. It was over 5% back in 2009. I opened my account last September.

Today, they say, that as of Feb. 23rd, the rate falls to 1.25%
"because" interest rates have been falling to their lowest levels in "modern times."

They seem to forget that the current Feds Fund rate has not changed since late 2008. So, when they now, 2.5 years later, why they justify lowering the rate, it is time for me to find another account.

I'm in S.C. and I know my Uncle has an account in another state, so residence and location of accounts does not have to be local.

Thanks.

[texdav]

As long has your money is competing with federal cheap money you are not going to really make much i interest on savings accounts.When the fed ends the cheap moeny liquidity then interest rates will go up.

[Sonnenwende]

I had to end up pulling money out of my savings account starting in 2009 because of the poor return and put it somewhere else. I am so glad I did. Just research and invest in whatever the fundamentals strongly support.

[8bravo]

Originally Posted by Sonnenwende

Just research and invest in whatever the fundamentals strongly support.

Which is? According to most frugality/personal finance sites, unmanaged index funds are heaven for everybody who does not want to pick single stocks and easily outperform the "high yield" accounts which pay 1.1% nowadays...

[Sonnenwende]

I'd start with a few days reading Zero Hedge, Calculated Risk, Angry Bear, Daily Reckoning, etc. I think you'll figure it out.

I'd never invest in anything without personally researching it first. I'm not going to trust just some jerk who wants to sell me something to be looking out for my best interests.