What Kind Of Savings Account Should I Put My $20,000 Fellowship In?

I have just had a fellowship in the amount of $20,000 deposited in my checking account but I won’t actually be using it until September. What kind of savings account should I put it in? A 6 month cd?

This entry was posted in Q&A's and tagged , , , . Bookmark the permalink. Both comments and trackbacks are currently closed.

2 Comments

  1. Anonymous
    Posted May 14, 2009 at 6:36 am | Permalink

    A high interest savings acout or a short term term deposit wuold be your best options.

  2. kckid2
    Posted May 14, 2009 at 6:36 am | Permalink

    ING Direct.
    Treasury Bills.
    6 mo. CD

  • Thinking of investing your savings?


    While increasing your savings is good, multiplying your money through smart investments feels great - there are lots of opportunities out there and you can be successful if you're arming yourself with the right information.

    Where to start?

    If you're going to try your luck on the stock market or trading options, first start by learning the basics and delay as much as possible buying real positions. One way of getting hands-on experience with the markets is through online trading - either forex or binary options are good learning grounds and most online brokers offer trial accounts free of charge (if you're wondering what are binary options, 24option.com has very good resources on it, besides offering a free practice account and a wealth of information about binary trading in general). Final warning for the very eager: binary options are exotic financial instruments; real trading involves substantial risk of monetary loss.