In Money Magazine's Ask the Expert column
, a reader asks about how he can earn more yield on his emergency fund savings. Here's a summary of the expert's recommendation:
So the bottom line is that you don't want to let the desire for a higher yield to compromise the security and liquidity of your emergency stash. To me, this means sticking primarily to readily accessible deposits in FDIC-insured institutions such as savings accounts, money-market accounts and short-term CDs or high-quality money-market funds
It's nice to see our high-yield reward checking
page as one of the references mentioned in the article.