# Liquid Savings and CDs - Where Do You Keep Your Cash? **URL:** \ **Category:** Off-Ramp\ **Created:** [September 30, 2022, 6:55pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426 "2022-09-30T18:55:25Z")\ **Posts on this page:** 20\ **Page:** 15
**Author:** ![anon65069371](https://leasehackr.b-cdn.net/letter_avatar/anon65069371/32/5_5575768a8748004e209b776fc1b2916d.png) [@anon65069371](https://forum.leasehackr.com/u/anon65069371)\ **Post date:** [March 2, 2023, 5:04am UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/283 "2023-03-02T05:04:57Z")
for New Accountholders for 12 Months on Balances up to $20,000 Literally died when I saw @GOAT use this earlier šŸ˜‚šŸ˜‚šŸ˜‚ ![plane crash GIF](https://leasehackr-assets.b-cdn.net/original/3X/2/8/28ead2b3a84349be6997117e8b1ace02d3075c86.webp) ---
**Author:** ![trism](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/trism/32/26973_2.png) [@trism](https://forum.leasehackr.com/u/trism)\ **Post date:** [March 2, 2023, 9:28am UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/285 "2023-03-02T09:28:44Z")
> [@ilpapa](#): > > many of the garbage banks like DSD take forever to get your money out of. closing out a position in 24 hours would definitely be quicker. I hold bond funds also, I just donā€™t use them as liquid savings because they arenā€™t liquid savings. Relax about DSD. If youā€™ll read my comments in this thread youā€™ll see that Iā€™m not happy with them either. Sofi has my primary savings account. They pay 3.75% and do same-day ACHs both in and out. Moneyā€™s in my checking account at another bank within ~2 business hours, so itā€™s definitely **not** faster to wait at least 1 business day (but more like 2 IME, but we can go with 1 if youā€™d like) for a trade to settle. > [@ilpapa](#): > > well then what you want is a high interest checking account. many of them earn better than savings at the moment. I would definitely consider this unless the checking account had additional requirements, like making debit card purchases every month. I have one of these too (Sofi) but it only pays 2.75%. Who pays more than 3.75% APY on checking with no strings? ---
**Author:** ![zaimer](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/zaimer/32/209153_2.png) [@zaimer](https://forum.leasehackr.com/u/zaimer)\ **Post date:** [March 2, 2023, 10:15am UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/286 "2023-03-02T10:15:56Z")
Isnā€™t Wealthfront currently at 4.05%? Or are you including like temporary referral bonuses as well. ---
**Author:** ![trism](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/trism/32/26973_2.png) [@trism](https://forum.leasehackr.com/u/trism)\ **Post date:** [March 2, 2023, 10:41am UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/287 "2023-03-02T10:41:28Z")
> [@dukez](#): > > Probably the best place to continue to park low balances short term The worst _best_ is subjective. I wouldnā€™t be willing to put up with the limitations that are noted in numerous negative reviews. I will trade some yield for convenience for this pool of money. ---
**Author:** ![Jrouleau426](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/jrouleau426/32/195763_2.png) [@Jrouleau426](https://forum.leasehackr.com/u/Jrouleau426)\ **Post date:** [March 2, 2023, 2:24pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/288 "2023-03-02T14:24:13Z")
Itā€™s pretty much tracking the dows 200 dma. Which I agree looks like it can certainly breakdown. But the 12% divi will help mitigate some losses unless all hell breaks loose and divis are cut etc. In that case nothing is safe really. Thatā€™s why I mentioned risk/reward ![image](https://leasehackr-assets.b-cdn.net/original/3X/3/5/353e53d4f59d7ba73b10eec0544a2c632894246c.jpeg) ---
**Author:** ![anon27376261](https://leasehackr.b-cdn.net/letter_avatar/anon27376261/32/5_5575768a8748004e209b776fc1b2916d.png) [@anon27376261](https://forum.leasehackr.com/u/anon27376261)\ **Post date:** [March 2, 2023, 2:32pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/289 "2023-03-02T14:32:41Z")
So-Fi is only 3.75 with direct deposits right? I use Ally at 3.5 but I direct deposit into a local CU. ---
**Author:** ![jackals](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/jackals/32/130337_2.png) [@jackals](https://forum.leasehackr.com/u/jackals)\ **Post date:** [March 2, 2023, 3:07pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/290 "2023-03-02T15:07:18Z")
Capital One is 5% on an 11 month CD. Popular Direct is 4.40% Savings account. ---
**Author:** ![trism](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/trism/32/26973_2.png) [@trism](https://forum.leasehackr.com/u/trism)\ **Post date:** [March 2, 2023, 3:29pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/291 "2023-03-02T15:29:29Z")
Yes, I think DD is required for that rate. I have my DD from work split across ~10 accounts for various reasons. Unlike some of the other accounts, SoFi doesnā€™t have a minimum requirement. ![image](https://leasehackr-assets.b-cdn.net/original/3X/8/f/8fac6691e3dde622558b8c909678e6d230722040.png) ---
**Author:** ![dukez](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/dukez/32/25862_2.png) [@dukez](https://forum.leasehackr.com/u/dukez)\ **Post date:** [March 2, 2023, 3:50pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/292 "2023-03-02T15:50:10Z")
Including that referral bonus. You can get up to a year at 4.55% (which I got just by referring family ā€” they donā€™t even have to use the account if they donā€™t want to). Iā€™m already referral capped but happy to send you a link if you want to open one. Iā€™ve used Wealthfront for about 4 years without any hiccups šŸ‘ ---
**Author:** ![zaimer](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/zaimer/32/209153_2.png) [@zaimer](https://forum.leasehackr.com/u/zaimer)\ **Post date:** [March 2, 2023, 4:43pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/293 "2023-03-02T16:43:53Z")
I actually had signed up with a link I had found, so I have 4.55% for 3 months (I believe). Now to start referring people. šŸ˜ But I appreciate the offer! ---
**Author:** ![anon27376261](https://leasehackr.b-cdn.net/letter_avatar/anon27376261/32/5_5575768a8748004e209b776fc1b2916d.png) [@anon27376261](https://forum.leasehackr.com/u/anon27376261)\ **Post date:** [March 2, 2023, 6:00pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/294 "2023-03-02T18:00:20Z")
Ahhh very niceā€¦I didnā€™t read the fine print minimum. ---
**Author:** ![MikailSJ](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/mikailsj/32/187398_2.png) [@MikailSJ](https://forum.leasehackr.com/u/MikailSJ)\ **Post date:** [March 2, 2023, 6:21pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/295 "2023-03-02T18:21:22Z")
Besides liquidity with MM accounts, is there a reason why people here are favoring or talking about CDs over T bills or municipal bonds (fed or state tax free?). ---
**Author:** ![ZeroDownHero](https://leasehackr.b-cdn.net/letter_avatar/zerodownhero/32/5_5575768a8748004e209b776fc1b2916d.png) [@ZeroDownHero](https://forum.leasehackr.com/u/ZeroDownHero)\ **Post date:** [March 2, 2023, 7:30pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/296 "2023-03-02T19:30:10Z")
> [@trism](#): > > upper-end savings/MMA APYs. Yes, I jumped into the JEPQ a few months back. Itā€™s basically the Nasdaq 100 with call options sold against it. Dished out 1% dividend last month. JEPI is the S&P 500 version. ---
**Author:** ![ilpapa](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/ilpapa/32/149662_2.png) [@ilpapa](https://forum.leasehackr.com/u/ilpapa)\ **Post date:** [March 2, 2023, 7:54pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/297 "2023-03-02T19:54:31Z")
> [@MikailSJ](#): > > Besides liquidity with MM accounts, is there a reason why people here are favoring or talking about CDs over T bills or municipal bonds (fed or state tax free?). if you figure this out please let me know. > [@trism](#): > > I would definitely consider this unless the checking account had additional requirements, like making debit card purchases every month. I have one of these too (Sofi) but it only pays 2.75%. ok iā€™m genuinely curious - why are you opposed to the checking with requirements? the elements link I posted is 5% and you can automate their billpay system to make 15x billpays every month in less than 10 minutes. 15 billpays to your power company or cellphone of .50-.64 cents each is less than $10 that youā€™d be paying anyway and with that you can earn 5%. ---
**Author:** ![trism](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/trism/32/26973_2.png) [@trism](https://forum.leasehackr.com/u/trism)\ **Post date:** [March 2, 2023, 8:41pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/298 "2023-03-02T20:41:31Z")
> [@ilpapa](#): > > ok iā€™m genuinely curious - why are you opposed to the checking with requirements? the elements link I posted is 5% and you can automate their billpay system to make 15x billpays every month in less than 10 minutes. 15 billpays to your power company or cellphone of .50-.64 cents each is less than $10 that youā€™d be paying anyway and with that you can earn 5%. Thatā€™s a 12-month promo rate on balances up to $20,000. Balances beyond that pay 1.66%. Not enough there there. ---
**Author:** ![ilpapa](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/ilpapa/32/149662_2.png) [@ilpapa](https://forum.leasehackr.com/u/ilpapa)\ **Post date:** [March 2, 2023, 8:42pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/299 "2023-03-02T20:42:56Z")
suppose you canā€™t lead a horse to water ---
**Author:** ![anon27376261](https://leasehackr.b-cdn.net/letter_avatar/anon27376261/32/5_5575768a8748004e209b776fc1b2916d.png) [@anon27376261](https://forum.leasehackr.com/u/anon27376261)\ **Post date:** [March 2, 2023, 10:23pm UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/300 "2023-03-02T22:23:48Z")
Itā€™s a polite way of saying 20k is not the amount he has in savingsā€¦and he has the means and ability to balk at splitting this savings for a few percentage points. ---
**Author:** ![trism](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/trism/32/26973_2.png) [@trism](https://forum.leasehackr.com/u/trism)\ **Post date:** [March 3, 2023, 12:07am UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/301 "2023-03-03T00:07:17Z")
Even setting aside the cap, realistically with rates still going up, the additional 1.25% compared to what Iā€™m already getting is going to shrink as time elapses. The entire benefit may evaporate by the end of the 12-month promo on the checking account. Itā€™s just worth the overhead of opening an account that Iā€™ll just have to close in a year. Which reminds meā€¦ I have a CD at Navy Federal with a maturity date sometime next week. When I locked in the money for a year it felt like I was robbing them blind at 3.0% APY. ---
**Author:** ![ZeroDownHero](https://leasehackr.b-cdn.net/letter_avatar/zerodownhero/32/5_5575768a8748004e209b776fc1b2916d.png) [@ZeroDownHero](https://forum.leasehackr.com/u/ZeroDownHero)\ **Post date:** [March 3, 2023, 1:01am UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/302 "2023-03-03T01:01:10Z")
Hey what are your thoughts on the Bask Bank AmericanAir Miles Savings Account where you earn Advantage miles instead of interest-- at a rate of 2 Miles per dollar in your account per year but paid monthly based on your average monthly balance. So if you left $50k in there for a year, youā€™d total 100k AA Miles after 12 months. Baskā€™s regular savings rate pays 4.25%, so am I right to conclude that you need to value an AA Miles at 2.5 cents to make it worth the while? Flyertalk or one of the websites values them at 1.5 cents, so itā€™s a pass? ā€¦unless interest rates plummet and they are still paying out 2-1 miles/dollarā€¦ ---
**Author:** ![ilpapa](https://leasehackr.b-cdn.net/user_avatar/forum.leasehackr.com/ilpapa/32/149662_2.png) [@ilpapa](https://forum.leasehackr.com/u/ilpapa)\ **Post date:** [March 3, 2023, 1:17am UTC](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426/303 "2023-03-03T01:17:04Z")
> [@anon27376261](#): > > Itā€™s a polite way of saying 20k is not the amount he has in savingsā€¦and he has the means and ability to balk at splitting this savings for a few percentage points. the rate is ā€˜up to $20kā€™, not starting at $20k. > [@trism](#): > > Even setting aside the cap, realistically with rates still going up, the additional 1.25% compared to what Iā€™m already getting is going to shrink as time elapses. The entire benefit may evaporate by the end of the 12-month promo on the checking account. > > Itā€™s just worth the overhead of opening an account that Iā€™ll just have to close in a year. its not a CD youā€™re not locked in for any period of time. it only stipulates that the 5% rate lasts for a year. [Previous page](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426.md?page=14) [Next page](https://forum.leasehackr.com/t/liquid-savings-and-cds-where-do-you-keep-your-cash/433426.md?page=16)