Highest interest savings account

[yungermanchik]

Is Apple bank owned by jews? Are there ribbis issues?

https://www.kfikosher.org/kosher-bank-directory#:~:text=Apple%20Bank%20for,your%20Halachic%20authority

[avrumy1]

I like to keep extra cash in high yielding account with minimum hassle, so far Ive been using amex because I'm there anyways for my CCs.
I noticed Chase has an option thru You invest called J.P. Morgan Premium Deposit for Self-Directed Investing.
seems to be same rate and FDIC insured. Is there any difference? Any reason not to use that?

[Dan]

"Sorry, the site is currently not available."

Works for me. 4.65% effective APR.

[CountValentine]

3/mo t-bills still solid at 4.36 and no state taxes or hoops to jump through.

[Yo ssi]

3/mo t-bills still solid at 4.36 and no state taxes or hoops to jump through.

Other then being really unintuitive to the average user?

[CountValentine]

Other then being really unintuitive to the average user?

...but 

Per capita, I'd put DDF IQ score against any social network FWIW.

[Spoon]

Other then being really unintuitive to the average user?

overrated. One time set up with auto roll and your done

[CountValentine]

overrated. One time set up with auto roll and your done

That only works with Fidelity (the proper way).

[PETERP]

Does anyone know the answer
In 2008 when bear sterns went broke
A hedge fund friend of mine told me
Any assets i had in a fido Margin account ,
Including bank Cds , could be
considered  fido assets , if Fidelity
goes belly up

True , False or complicated !
 

[AJK]

Net net, SGOV likely beats 90% of these rates.

[DealJew]

Can anyone give insight as to why high yield savings are better than BIL or SGOV which are basically T bill ETF's exempt from state tax and paying the same or better than HYS?

[Goat]

Can anyone give insight as to why high yield savings are better than BIL or SGOV which are basically T bill ETF's exempt from state tax and paying the same or better than HYS?

Market investment vs. cash-in-bank. It's apples-to-oranges. You can't call up your broker and pull out $500 in cash today from BIL or SGOV for an emergency. I hope no one is using a HYS for their long-term savings, but keeping a reasonable amount (every case is different) in the bank for immediate availability is definitely advisable.

[DealJew]

Market investment vs. cash-in-bank. It's apples-to-oranges. You can't call up your broker and pull out $500 in cash today from BIL or SGOV for an emergency. I hope no one is using a HYS for their long-term savings, but keeping a reasonable amount (every case is different) in the bank for immediate availability is definitely advisable.

Why isn’t SGOV or BIL liquid? As far as I’m concerned their index funds which can be liquidated at any time. They aren’t actual T bills which are locked for a specific amount of time… also what’s the risk factor involved?

[Spoon]

Can anyone give insight as to why high yield savings are better than BIL or SGOV which are basically T bill ETF's exempt from state tax and paying the same or better than HYS?

who said they're better?

[DealJew]

who said they're better?

No one I’m just wondering why there’s a whole thread discussing best HYS and there’s barely mention of these…

[Spoon]

No one I’m just wondering why there’s a whole thread discussing best HYS and there’s barely mention of these…

plenty of discussion in the savings/investment thread

[CountValentine]

They aren’t actual T bills which are locked for a specific amount of time… also what’s the risk factor involved?

T-bills can be sold at any time also.

[Goat]

Why isn’t SGOV or BIL liquid? As far as I’m concerned their index funds which can be liquidated at any time. They aren’t actual T bills which are locked for a specific amount of time… also what’s the risk factor involved?

They are relatively liquid. However, they are still investments and not cash. You still have to wait T+1 for the sale to clear (day of sale plus 1 business day - sell on Monday, sale clears on Tuesday)  before you can pull money out of an investment. You cannot walk into your broker and pull out $500 cash in case of an emergency, regardless of what you are invested in. You can do that with a bank account.

Also, as far as liquidity is concerned, AAPL, GOOG, MSFT, KO, GE, etc. (basically any $1B+ company) are all just as liquid. The risk factors (and returns) are different.

So while the risk profile is similar between SGOV/BIL and a HYS, they are not the same type of asset.