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Topics: Checking & Savings |
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| How to Find Free Cash Back Offers from Banks |
Submitted by:
frugalRyan 12/30/2008 3:45 PM
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The other day, I checked the money-market fund where I've been keeping my cahs and noticed that the interest rate was just under 0.50%. That's pretty pathetic. Then I looked at the fund's fee, and it's 0.44%. So I'm barely making any money in this fund. And if the interest rate were to drop below 0.44%, I'd be losing money! And this is supposed to be a safe place to park cash and get a small return on your investment!
So I looked into places where I could put my cash and found a good site called bankaholic.com which lists information about savings account rates and CD rates. I'm more interested in the interest rates I can get from savings accounts because I don't want to tie up my cash in CDs right now -- even 6 month CDs. I need to have access to this cash in a worst case scenario situation.
I came across a section on the website that lists deals you can get for opening accounts with banks. Most of the deals boil down to free money when you open and account and make a small deposit (typically $1 is all you need to deposit). So now I can get the best of both worlds: better interest rates for my cash, and free cash for opening new accounts. Talk about a win-win!
Here a few examples of the kinds of offers you can get:
- "E*TRADE 3.30% APY Savings + $25 Bonus. $25 will be credited to your Complete Savings Account within 30 days of the account being funded with a minimum deposit of $1."
- "Bank of America FREE $50 Deal. Basically, if you open a checking account with $100 minimum deposit, they will give you a $50 bonus."
- "FREE $75 Gas w/ US Bank Checking Acct"
- "FREE $50 Wells Fargo Checking Deal. This is a hassle-free deal. All you have to do is open a checking account with $100 minimum deposit, and they will credit your account with $50 within 45 days."
And remember, the govt. protects your money in an FDIC-insured bank -- up to $250,000 per account, so you don't have to worry about the safety of this money, even if the bank doesn't survive.
To view these deals and more, click the link below.
http://www.bankaholic.com/bank-deals |
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