Amazing High Yield Savings Account!
I always want my money to work for me. Most banks offer laughable interest rates on savings accounts, because generally more safety equals a low return, where more risk means more reward. But I hate losing money, what if there was a middle ground?
There is, the answer is an FDIC Insured High Yield Savings Account
By gar the best place to find very high returns for a safe storage of money is an online bank. Online banks have the highest interest on a savings account. This is because most traditional banks have huge overhead and costs with operating a large building. Online banks offer very high interest rates (usually over .5%APY) on a savings account! I like them better than a lot of other ways to make your money work for you, mostly because you have access at any time. Unlike CD’s or other money markets.
Check out the full article by forbes about online banks, but here’s an excerpt:
Online Banks The top yields on savings accounts generally available nationwide can be found at online banks. These banks do not have the expense of managing a network of branches, and they pass this savings on to customers in the form of higher rates and often lower costs. Many of these institutions have become household names, such as Ally Bank and Capital One 360. Others are perhaps less known, such as Synchrony Bank and FNBO Direct. Most online banks currently offer interest rates ranging from 0.75% to 0.95%. One of the top rates today is 1.05% APY offered by Synchrony Bank, although rates do change frequently.
That’s all fine and dandy but i’m willing to bet you want to know about that crazy high yield savings account? I recently found a bank that is offering the highest i’ve seen! They offer 1.11% APY for the first year on balances up to $150,000! And .61% up to balances of ten million! Other aspects of the account are also amazing, such as:
- Only $1,500 To Open
- No Monthly Fees
- IRA Eligible
- Mobile Check Deposits
After the year bonus rate they still pay .61% which is still very high, but you definitely need to capitalize on their one year bonus rate! After all you have nothing to lose but you have lots of money to make! Don’t let your money sit and collect dust!
Believe me, i’m moving a decent chunk of my savings over to them because i’m only currently getting .3% at my credit union. I high recommend you do the same! Make sure you check them out by clicking the button below!
Make sure to share this post so people can start making more off interest! I mean a bank in my town offers .01% apy. Like really? But they happily charge 8% on a personal loan!