Investment Help

[menemotxi]

Hi all,

 

I have a relatively gifting me $100K, and I intend to use it for a future downpayment for a house in approximately 18 months.  I'd like to throw into a high interest account or 12 month CD, than add to it every month until I intend to buy.

Does anyone have any suggestions for what I should do?  Was looking at Ally Bank for competitive rates (per Boglehead forums), but honestly don't know what other options exist.

 

Thanks

[Peds]

ally is fine.

you can look here as well: https://www.nerdwallet.com/rates/cds/best-cd-rates?bank_type=CU&bank_type=IB&bank_type=LBK&bank_type=NBK&deposit_minimum=25000&length_of_term=24&min_ratings=4&page=1&sort_key=apy&sort_order=desc&zip_code=91106

 

[Molar Mechanic]

I think Ally has a no penalty CD that is 1.75%.  You can take the money out at any point, but you'll have to take it out the full amount, which differs from a savings account at closer to 1.3%.