(no subject)

[sprinklethief]

okay, i'm a math/finance retard so i need some help here.

my savings has an interest rate of 0.10% and is FDIC insured. it's technically a money market account.

my paypal account has an interest rate of 5.05% but is NOT FDIC insured. the rate can fluctuate as well though historically it has increased since 2001. it is also a money market account i believe.

would it be worth my while to transfer my savings into my paypal account? lets say my savings is $2000 for all intents and purposes. opinions? i'd just be afraid to have a loss, and with my luck that's bound to happen...

Comments

[paroxysm-cycle.livejournal.com]

if i want a "competitive" interest rate on my savings i have to drop a chunk of change into it that i just don't have right now. the closest thing remotely in my range is a CD that has a term of 6 months to 10 years with a fixed rate of 4.2 for the minimum deposit of $2500, which i just don't have either.