4-Week T-Bill Rate Kept Rising

The lastest 4-Week T-bill rate from last Tuesday's auction is 5.176%, already surpassing interest rates offered from some popular banks, such as EmigrantDirect and HSBC, which earn you 5.05% APY.

If you want to get some other alternatives for your cash reserve, you may want to consider E-Loan, which has a very appealing 5.50% APY and the overall process of opening a new account is quite simple, according to the recent experience of John at Financial Ladder. And E-Loan doesn't seem to pull a hard credit inquiry. The only reason I didn't sign up with E-Loan is their mid-range initial deposit requirement of $5000.

In addition, GMAC Bank may also be a choice as they bumped their rate to 5.25% APY with $500 initial deposit.

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