Solid Savings Return

[Vic99]

I have about 15-20k that wife and I use for emergency savings and for small & medium home improvement projects.

Savings rates seem to fluctuate a lot.  Who do you think gives a consistently good savings rate?  We have My savings direct and our local bank.  Local bank is under 1% but easy to access.

MAybe you think it doesn't matter.  Fair enough, but I'm still asking.  Thanks.

[Toad]

The interest rate you can get all depends on how complicated you are willing to make it...check out this for many many options:

https://www.doctorofcredit.com/high-interest-savings-to-get/#Mega_High-Interest_Options_8211_Nationwide

Look towards the bottom of the list for region specific options.  There are some 4-5% options for fairly large $5-10k balances.  Just make sure to read all the details for eligibility...oftentimes they will give you the high interest rates up to the max, and if your balance goes above the max they put it at essentially 0%.

Some nationwide options have 4-5% rates for smaller balances.  Personally I opened a Blue Federal Credit Union account.  No issues with them so far, but that is a max 1k with a 4.99% yield.  If your account goes over by $0.01 you get like a 0.01% rate for the days you exceed 1k.  Easy enough to just put $995 in there to start and automatically withdraw ~$4.15 each month though.

Edit:

Just saw you are in MA

From that list looks like your best option would be:
https://www.doctorofcredit.com/alden-credit-union-5-rewards-checking-account-5000/
5% up to 5k

Could then open up the blue federal for another 1k at 5%, and then do one of the nationwide options for 3-4.5% on the rest depending on how much hoop jumping you are willing to do for it.

[SubL stache]

I use Ally 1.65% currently, as well as churn bank bonuses from doctor of credit to keep these funds earning something.

[Lady SA]

My credit union offers a savings account with 2.5% interest on balances up to $25k, plus a checking account (!) that offers 2.0% interest on balances up to $25k (if you meet the monthly requirements). Pretty sweet deal having my readily available cash and emergency fund basically keeping up with inflation... Maybe one of your local credit unions offers something similar.

[cheapinsd]

1.8% at Marcus by Goldman Sachs: https://www.marcus.com/us/en

[beattie228]

Ally is now up to 1.75%. Rate increases apply to not only new account holders but also all current account holders. Typically funds are available by transfer in 2 days for me. I've had no issues with them.

[Spitfire]

I also use ally with no complaints. Being in Mass, DCU is a good option for $1,000 of it, they give 5%. They have a really nice HELOC product also.