Time to Save again...

[OneDay]

Being as we never had money to save prior to our BK as we were always unable to catch up.... After our BK we are in a little different siutation.
We are currently looking to move some funds from our safe to a savings account to start earning interest...

Our local bank has a Saving that offers 2.0% interest on balances over $5k.
ING has a variable 2.75% APY, no minimum balance.

We have $5k to get started, so my question is about the variable 2.0%. How exactly do the variable rates work?

[Logan]

When the fed raises rates your savings will go up. When the fed lowers rates your savings rates will go down.

Check Credit Unions in your area. I have a checking account with a 6.15% APY in Southern Florida. I had one with 6% in Michigan last year.

Logan

[OneDay]

TY
I actually was calling our company CU yesterday until I realized it was Columbo day....