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Any advice about what type of account is the best place to keep our emergency fund? Up until now we have just kept a certain amount in our regular savings account and been good (well, pretty good<img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/redface.gif" style="border:0px solid;" title="Embarrassment"> ) about not touching it. I'd like to separate it from our other funds though and since it will be sitting in an account without much activity I would like it to be earning as much interest as possible. However, this being the emergency fund, we need to be able to access it immediately in the event of an, well, emergency. Any advice would be appreciated. Thanks!
 

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Some people stagger small amount in CDs so at least one CD is set to mature each month (giving you access without penalty). I read in another thread that e-loan is offering a good interest rate on a 1 yr CD, but I've never used them. Regions bank was offering 3.25% on a 6 month CD when we opened ours. I don't mind doing long term CDs because you can always cash a CD out with minimal penalty. We had to cash ours out early and the penalty was only $5, we sill received interest for the few months we had it in. It might be a good idea to several CDs so if you need to cash out you still have some earning.
 

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We have ours in an ING savings account. I believe it is paying 3%. It does take a day or two to get the money, I believe, but that's fast enough for us.
 

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I keep mine in <a href="http://fordcredit.com/interestadvantage/index.jhtml" target="_blank">http://fordcredit.com/interestadvantage/index.jhtml</a><br><br>
Current Rates<br>
For the Week Beginning June 30, 2008<br>
Amount Invested Rate Compound Yield<br>
Under $15,000 3.40% 3.45%<br>
$15,000 to $50,000 3.55% 3.61%<br>
Over $50,000 3.70% 3.76%<br><br><br>
They have the best rates that I know of...would be interested if anyone is getting any better.
 

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We recently transferred ours to a goldmoney account overseas, but I think it would take a few days to get it, if we needed it.
 
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