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6. Juni 2010

A slightly higher interest rate

Looking around at money market and CD interest rates, it's hard to find anything higher than 1.5-2%. But here's a couple deals that can get a significantly higher rate, though only on a small amount of money...

Wachovia has a Way2Save savings account that will earn 5% interest the first year, followed by a lower rate after that. The catch? You can only add money to it through automated transfers from checking up to $100 per month, plus $1 is transferred each time you use your debit card or pay a bill online. You can withdraw at any time, without penalty.

A+ FCU has a 1 year CD and an IRA account that also earn 5%. The catch? you only earn the interest rate on up to $1,000, so you would want to put $950 in and earn the extra $50.

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