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Checkout These New Ways to Earn Top Yields:
1. 4.30% with Rewards Checking
Royal Banks of Missouri is paying 4.30%, but only on deposits up to
$25K. Like other rewards checking offers, in order to qualify for the
4.30% you have to open an account at a {Missouri|local) branch,
complete ten qualifying debit purchases and one ACH transfer EVERY
MONTH - for most of investors that is simply not worth the hassle.
2. Up to 7.4% at Bank Loan Mutual Funds
Some of the best bank loan mutual funds for this year as stated by
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 mutual funds are NOT FDIC insured, and have
risks like: high price volatility, limited access to your cash (you can
only withdraw quarterly or once a month), and the underlying bank loans
you are laying out capital for have been made to companies in trouble
and the default rate on these kinds of loans is presently 9.10%.
On the bright side these investments provide steady income and will
increase their dividends as the economy rebounds and loan rates
increase. Because bank loan mutual fund prices are currently low,
you're also likely to profit from price appreciation.
3. 1.45%+ Money Market Accounts
No Risk, Government Insured, increase with inflation, and concede
access to your cash 24/7. As the economy improves, rates on money
market accounts will rise; even though the yields may not seem
impressive right now, they are probably going to rise this year.
Smart consumers will make a habit to check money market rates at a
web site similar to RateCatcher to ensure they are earning most
competitive yields in the nation.
Online, it only requires five minutes to open an account; then you
can take advantage of the upcoming rate increases. So, beef up your
emergency fund today by applying for a online savings account today.
Author Bio:
Skyler Christensen has a BSBA and writes about personal finance at RateCatcher.
His mission is to increase investor's ROI without increasing their risk.
Savers will gain more interest on a money market account by going to http://www.RateCatcher.com today.