Brio Direct Bank – 2.1% APY High Yield Savings Account

Update 1/5/2020: Rate has been reduced to 2.1% APY from 2.3% APY (not 100% sure when this change occurred).

Update 10/10/19: Rate has been reduced from 2.46% to 2.3% APY.

Offer at a glance

  • Interest Rate: 2.3%
  • Minimum Balance: $25
  • Maximum Balance: $250,000 (FDIC limit)
  • Availability: Nationwide
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: FDIC

The Offer

Direct link to offer

  • Brio Direct is offering 2.46% APY on their high-yield savings account.

Avoiding Fees

This account has no monthly fees to worry about

Our Verdict

This is the current highest basic savings account rate. I think this is a new offering, so not sure if the rate will remain competitive or not (always a concern when rate chasing). We also don’t know if it’s a hard or soft pull to open.

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Chris
Chris

Rate is 0.65 now, I’m closing this account out, there’s no point in keeping it.

midas89
midas89

Rate dropped to 1.10% APY

midas89
midas89

Brio dropped to 1.55%

Bruce
Bruce

Brio is now 1.65%

midas89
midas89

Brio dropped to 1.85%

Schmekel
Schmekel

Brio Direct site showing 2.00% APY for their High Yield Savings account.
My account shows 1.98% which must be the rate, with an APY of 2.00%.

pjb4
pjb4

Why does bottom of page says this at Brio Link when we click?
“In the event of withdrawal before stated maturity, an early withdrawal penalty will be imposed.”

thoughts?
Thanks!

midas89
midas89

Since Brio’s latest rate drop is not on this page yet, here it is: Rate is currently 2.05% APY.

Matt
Matt

Rate is 2.1%. Not sure when changed, but commenting on 1/5/2020

RobM
RobM

I didn’t care for this bank at all. I deposited a small amount and had to go through a lot of hassle (phone calls, emails, etc) to figure out how to transfer money back out of my account. It’s just no very transparent/user-friendly, like the other banks I’ve used. Plus, I can’t do a direct transfer out of savings and they have a limit of $25k a day. I would lose a lot of money “in transit” (i.e. going from savings to checking and then transferring it to BrioDirect). I wouldn’t recommend it at all and will be closing it shortly.

Bruce
Bruce

I agree, I recently ran into the same issue…but even worse…they say the transfers are limited to 25k a day but in reality, you can’t transfer another 25k until the first transfer is completed which takes 3-5 days.