3 Lower Risk Ways To Make Up To 7.40% On Your Savings

By Author: Sky Christensen
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Checkout These Easy Ways to Get Great Yields:

1. 4.30% with Interest Checking
Royal Banks of Missouri is paying 4.30%, but only on balances up to $25K. Like other rewards checking offers, in order to get the 4.30% you have to open an account at a {Missouri|local) branch, complete ten signature debit purchases and one EFT transfer EACH MONTH - for most of investors that is too overwhelming.

2. Up to 7.4% at Bank Loan Mutual Funds
Three of the best bank loan mutual funds for 2010 as stated by SmartMoney Magazine are: 7.4% at Nuveen Senior Income(NSL), 6.6% at ING Prime Rate Trust(PPR),and 4.4% at Fidelity Floating Rate High Income(FFRHX).

Before you commit your cash, Realize that these mutual funds are NOT FDIC insured, and have risks like: high price volatility, limited access to your money (you can only take out principal quarterly or once a month), and the underlying bank loans you're investing in have been made to companies in trouble and the failure to repay rate on these types of loans is currently 9.10%.

The good news is bank loan mutual funds provide consistent income and will yield ...
... more income as the economy recovers and interest rates increase. Because bank loan mutual fund prices are as of this writing low, you are also likely to benefit from price appreciation.

3. 1.55%+ Money Market Accounts
No Risk, Government Insured, keep up with inflation, and grant access to your money 24/7. As the economy rebounds, yields from money market accounts will rise; although the returns may not seem impressive right now, they're likely to rise this year.

Smart savers will make a habit to check money market rates at an internet-site similar to RateCatcher to ensure they are earning the highest yields available.

Online, it only requires 5 minutes to apply for an account; then you can be ready for the upcoming rate hikes. So, beef up your savings fund now by applying for a money market account today.

About the Author:

Skyler Christensen has earned a Bachelor's Degree in Business Administration and writes about personal finance at RateCatcher.

His mission is to increase investor's ROI while reducing risk.

Investors can earn more interest http://www.ratecatcher.com by visiting http://www.RateCatcher.com immediately.