Is this a good place to park around 600k for a year or so? Any alternative
Hello there,
So I have some land back home that will be sold and getting profit for around 600k
I want to buy a better house here in NY. So while I’m searching for a good house here which will take a year or so most likely I want to park the money in a place that will grow just a bit, and relatively safe.
I believe most people will park money like that in a high yield savings account, but I can’t do that for religious reasons.
I found this however it’s called a profit sharing savings account.
https://www.myuif.com/deposit-accounts/personal-banking/
And these are their projected rates
Our Savings accounts:
Account Balance
Profit Rate
APY
Minimum Balance
$0-$499
0%
0%
$0
$500-$24,999
3.80%
3.87%
$500
$25,000-$99,999
4.00%
4.07%
$25,000
$100,000-$249,999
4.08%
4.16%
$100,000
$250,000+
4.33%
4.42%
$250,000
Is this a good place to park the money?