What to Know About High-Yield Savings Accounts On the surface, savings accounts seem simple, but there are several factors that you need to pay attention to when picking a savings account: Interest rates The interest rate is one of the most important aspects of a savings account. It can be...
High-Interest Savings Accounts from Discover Bank, Member FDIC offer high yield interest rates with no monthly balance requirements or monthly fees, all online.
CIT Bank is known for offering multiple savings accounts. CIT Bank’s Platinum Savings account earns the highest yield on balances of $5,000 or more, while the Savings Connect account can be opened with just $100. These accounts don't charge a monthly maintenance fee. CIT Bank also has mo...
Keep that in mind when choosing a bank. Most of these are savings accounts, with a few checking accounts mixed in. We wrote about options for getting a high yield on your checking account in this post. Alternative High-Yield Options Government Series I Bonds are currently offering 4.30%, ...
Best high-yield savings accounts Best for earning a high APY: Western Alliance Bank High-Yield Savings Account Best for account features: LendingClub LevelUp Savings Best for no minimum deposit: Newtek Bank Personal High Yield Savings Best for ATM card: UFB Portfolio Savings Best for easy acces...
Ally Bank Savings Accounts have a range of account balances called balance tiers. We’re required to tell you the APY we pay is based on the tier in which your end-of-day balance falls. The APY may remain the same for all balance tiers or change based on your account’s daily balance...
The cons of high-yield savings accounts While there are a lot of upsides to putting your money into a high-yield savings account, there are a few downsides to consider. Fluctuating rates Interest rates on high-yield savings accounts are variable and can change at any time — a bank may ...
Low risk:If your bank is FDIC-insured, a high-yield savings account does not have the risk level of other investments. Cons Poor options for long-term goals:Although high-yield savings accounts have high yields compared with standard savings accounts, they don’t pay enough interest to hit ...
When you open an account at a bank or credit union, all of your accounts combined are insured for up to $250,000.2 Many brokerages offer cash management accounts (CMAs), which function similarly to high-yield savings accounts. The CMA usually offers a lower rate, but they do offer ...
The best high-yield savings account rate is 5.00% APY from Pibank and Zynlo Bank. That's more than 11 times the FDIC's national average for savings accounts of 0.42% APY.1A high-yield savings account is great because it pays more interest, while still giving you the flexibility to withd...