What is the best account to put my savings in?

I am hoping to buy a house in about a year. I already have about 5,000 dollars saved for the down payment but why should I just let my money sit around when I could be getting interest? What is the best account for interest for me, keep in mind It will be in the account for approximately a year and a few months. I hope to have around 20,000 dollars by the time I will be purchasing a home.|||Well money market accounts and mutual funds offer a higher interest versus more stable and secure accounts such as CD, bonds, checking accounts that pay interests, etc, The markets right now are a mess, so I will tell you to look for a safe place to keep you money, some banks offer CD with over 1 percent interest rate, I know the interest is very low, but those are very safe investments, remember that you make much more in others types of financial instruments, but those carry more risk, and since that money is towards the down payment for you house I will put on the safest place possible.|||Don't waste your time shopping for earning interest, it's going to be in the vicinity of 1.5%





So for $5000, you get $75 a year (or less).





Just find a FREE checking account, and place your money there, every penny you can save. Then, try to cut coupons, shop for discounts, and save on your monthly bills, expenses, you can easily exceed the $75 you'll earn in CD, savings, money market account.





There's is NO WAY, ANYBODY can get you from $5K to 20K, at least not without risk. Anybody who claims he can earn that much in less than 2 years, carries the same risk to lose it all.