Jean Chatzky: Find the high yields

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr How’s this for a riddle? What’s high yield, liquid and low risk? Nothing, you’re probably thinking — not in this market, anyway.But, in fact, a checking account may be the answer. According to new Bankrate research, the average high-yield checking account pays 1.66 percent. And Bankrate found 20 checking accounts that pay an interest rate of 2 percent or more. The accounts are offered by banks and credit unions, and nearly half are available nationwide.With the average 5-year CD yielding 0.86 percent, high-yield checking might appeal to you as a savings alternative. Locking your money up in a CD when interest rates are poised to increase in the not-too-distant future might be unappealing, as well. In fact, one of these checking accounts may well be an offer you can’t refuse, but first you should consider the fine print — and alternatives. Read on. continue reading »last_img read more