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| 3 Low Risk Ways to Make Up to 7.40% Interest |
By:
Sky Christensen |
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Checkout These Easy Ways to Get Great Yields:
1. 4.30% with Rewards Checking
You can earn 4.30% at Royal Banks of Missouri, but only on deposits up to $25K. Similar to other rewards checking offers, in order to qualify for the 4.30% you have to get an account at a {Missouri|local) branch, complete ten qualifying debit transactions and one ACH transfer EACH MONTH - for most of savers 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 2010 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).
Please note that these mutual funds are NOT FDIC insured, and have risks like: volatility, restricted access to your money (you can only withdraw quarterly or once a month), and the underlying bank loans you’re investing in are made to companies with low credit ratings and the failure to repay rate on these types of loans is currently 9.10%.
On the bright side these investments deliver consistent income and will increase their yield as the economy rebounds and interest rates increase. Because bank loan mutual fund prices are as of this writing low, you are also likely to gain from capital appreciation as well.
3. 1.55%+ Online Savings Accounts
No Risk, Government Insured, increase with inflation, and concede access to your money anytime you need it. As the economy improves, yields from money market accounts will increase; though the yields may not seem impressive right now, they are probably going to increase this year.
Wise savers will on a regular basis check money market rates at a website like RateCatcher to ensure they are getting most competitive yields in the nation.
Online, it only takes 5 minutes to apply for an account; then you can be ready for the upcoming rate hikes. So, start/increase your emergency fund today by opening a online savings account today.
About the Author:
Skyler Christensen has earned a Bachelor's Degree in Business Administration and blogs about banking at RateCatcher.
His mission is to improve investor's ROI while mitigating risk.
Savers will earn more interest http://www.ratecatcher.com by dropping by http://www.RateCatcher.com today. |
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