This whole situation made me wish I had money in savings account for an emergency situation. What's the best bank I could open a savings account with that I can earn interest with over time. I know most banks the interest is so low.
It's best to contact different banks since it depends on how much you'll be starting your account with and if you want an account that has: 1. an account with a fluctuating interest rate where it offers you the flexibility to withdrawl anytime. 2. an account with a fixed interest rate and fixed date of withdrawal (ex: 6 months, 1 year). Online banks seem to have better rates. The # of dates to transfer is usually longer than option 1. I chose one that was offering 2% (amazing) and then it dropped to 1.7% a few weeks shortly after. Still better than the local lenders in my area. Since it takes longer to get the money, I keep a separate checking account with a few hundred in it for any bills I may forget to pay or backup money just in case I need it ASAP. Let us know which bank you choose .
