Update 8/20/19: rate has been further decreased to 2.15%.
Rate has been further decreased to 2.3% APY
Update 6/12/19: Readers note that EBSB has made an unannounced rate drop from 2.5% to 2.37%. Account is not available for signup, regardless, but those with the account should keep this in mind when deciding whether to leave their money there.
Actually it’s still unavailable, I saw the option to open the statement savings account but you need the high yield statement savings for the 2.5% APY rate. Sorry for the confusion.
Update 2/21/19: Deal is available again. Hat tip to readers Schmekel
Update 1/10/19: Currently unavailable.
Update 12/11/18: This offer was around for a few weeks in October, and they’ve now brought the offer back again.
Offer at a glance
- Interest Rate:Â 2.5% APY
- Minimum Balance:Â $5,000
- Maximum Balance:Â $1,000,000
- Availability:Â Nationwide?
- Hard/soft pull:Â Unknown
- ChexSystems: Unknown
- Credit card funding:Â None
- Early account termination: $25 if closed within 180 days
- Monthly fees:Â None
- U.S. Citizen: Yes
- Insured:Â FDIC & DIF
The Offer
- EBSB Direct is offering 2.5% APY on balances $5,000 to $1,000,000
Avoiding Fees
This account has no monthly fees to worry about. There is an early account termination fee of $25 if the account is closed within 180 days.
Our Verdict
This is the current best high yield savings account. It isn’t 100% clear if it’s available nationwide or not as some people have reported being denied due to the product being unavailable out of state, only to be told that they should have been approved. Some people have also suggested in the past if EBSB raise rates they don’t raise those rates for existing customers so something to keep in mind. This is 0.25% higher than the next best rate though, so might be worth considering for some.
Hat tip to EDUARDO BAEZ
