Ing Ef

[DougG]

I currently have my EF in an ING account, it is growing nicely...but since the interest rate will be redueced to around 2% after todays Fed cut, is there somewhere else, not another online bank, to put my EF and earn better than the 2%?

and am i correct that keeping this money in ing is kinda losing money since it is only earning 2% and inflation is higher than that, plus we pay tax on the interest?

thanks for any input

[noppenbd]

You could try a tax-exempt money market like Vanguard's VMSXX (current yield is 2.85%, federal tax free). Not FDIC insured though.

[safari]

IndyMac is offering 4.05% APY CDs with 12 and 18 month terms.

[Jazzmint98]

Shore Bank is paying 4.15% APY on online savings accounts.