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Smart Easy Ways to Earn Great Yields: 1. 4.30% with Interest Checking You can earn 4.30% at Royal Banks of Missouri, but only on balances up to $25K. Similar to other interest checking offers, in order to get the 4.30% you have to get an account at a {Missouri|local) branch, complete 10 signature debit transactions and one EFT transfer EACH MONTH - for the majority of savers that is too much hassle to be worth it. 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). Please note that these investments are NOT FDIC insured, and come with risks like: volatility, limited access to your cash (you can only take out principal quarterly or once a month), and the underlying bank loans you’re laying out capital for have been made to struggling companies and the default rate on these kinds of loans is currently 9.10%. On the bright side bank loan mutual funds provide consistent income and will increase their yield as the economy rebounds and loan rates increase. Because bank loan mutual fund prices are currently low, you're also likely to gain from capital appreciation as well. 3. 1.55%+ Money Market Accounts No Risk, FDIC Insured, increase with inflation, and concede access to your money anytime you need it. As the economy rebounds, yields from money market accounts will rise; though the rates may not seem impressive right now, they're probably going to rise in 2010. Prudent savers will on a regular basis check money market rates at a web-site similar to RateCatcher to ensure they’re getting most competitive yields available. Online, it only requires five minutes to open an account; then you can take advantage of the upcoming rate increases. So, start/increase your savings fund today by applying for a online savings account today.
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Skyler Christensen has earned a BSBA and writes about investing at RateCatcher. His mission is to boost the return investors receive while reducing risk. Investors will gain more interest on money market funds by going to www.RateCatcher.com immediately.
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