Give Your Savings Yield a Little Lift

Physician's Money Digest, November 2005, Volume 12, Issue 15

MarketWatch

MarketWatch

Wish your savings account yieldwas rising faster than your malpracticepremiums? You may be in luck.Yield rates have been on the riserecently, and you may be missingout on a much higher percentage.Speaking to , DavidKaytes, managing director of theNew York consulting firm Novantas,says, "This is a time of real opportunityfor consumers. Finally, you canget a real return on your money.Banks are anxious to build the consumerfranchise—much more so than inthe past. So they're giving away more thanthey might otherwise." If you're earninglow rates with your current savingsaccount, it may be time to make a switch.Be sure to do plenty of comparison shoppingwhen looking for the highest yields.The article also suggeststhat you watch account restrictions, examinean account's liquidity, and investigate abank's security measures.