Bank of America
- Government insures money up to $500k
- Interest on your money
- Low monthly fee of 5$
Cons:
- Only 0.01% APY
- Not many cons
Telco Community Credit Union
Pros:
- 0.40% APR
Cons:
- Restriction: 6 waithdrawlas per month
Ally bank
- 1% APY
- No monthly fees
- Remote deposit of checks
- Money is insured
- Daily compounded interest
Cons:
- Limit of 6 transactions per cycle
- Account can be overdrafted
U.S. Treasury
Pros:
- 1.64% APR
Cons:
- Penalty if you cash in in the first 5 year
My Goal:
All three of the goals on my card were trips to different location in the world. Wherever you go you are probably not going to spend more than $15,000. If I had $1,000 to save today I would use Ally bank. Their bank has the highest interest rate and there isn't any monthly fees so I think I would be making the most from using Ally bank.
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