Here’s a list of the best high interest savings accounts. Get up to 5.17% APY with a basic savings account or up to 5.65% with a basic CD. There are also accounts with requirements that pay even more. We don’t receive any commissions for any of these, and ALL banks are included in this list.
Contents
Best Basic Savings Rates
Leaving money in a regular bank account will usually get you a terrible interest rate. With a little research, we can find accounts that offer competitive rates. These are all ordinary savings accounts with no hoops to jump through, and they are FDIC/NCUA insured up to $250,000.
Here are the best options available, rated in APY from highest to lowest:
- Milli – 5.25% savings account (requires mobile app)
- Republic Bank – 5.21% APY money market (minimum $2,500)(nationwide except IL, IN, WI, MI)
- CFG Bank – 5.17% APY high-yield money market (must maintain minimum $1,000)
- Western State Bank – 5.15% APY money market (our review)
- Pacific Western – 5.15% savings ($5,000 minimum)
- Juno – 5.12% APY on up to $50,000 (our review)
- Dime – 5.10% Blue savings (not available in NY, CA)
- TotalDirectBank – 5.07% money market (balances $2,500-$500,000; not available in FL)
- UFB – 5.06% APY savings account (see this comment and this)
- Redneck Bank / All America Bank – 5.05% APY money market, up to $100,000 (review)
- Vio Bank – 5.02% APY money market
- TAB Bank – 5.02% savings
- Salem Five Direct – 5.01% APY eone savings (see this comment)
- Valley Direct – 5.00% APY savings (12,000 MyPoints signup bonus)
- MyBankingDirect – 5.00% APY saving
- Webull – 5.00% cash management account
- Dollar Savings Direct – 5.00% APY savings (see this comment)
- PopularDirect – 5.00% APY savings
- One Finance – 5.00% savings ($5,000 minimum, $100,000 max)(review)
- VirtualBank – 5.00% APY eMoney Market
- CIT Bank – 4.95% platinum savings
- Northern Bank Direct – 4.95% APY premier money market
- Newtek Bank – 5.00% savings (new applications paused)
- Primis Bank – 4.92% APY savings and checking (review)
- NASB – 4.86% APY premium savings (check incognito) ($25,000 minimum) (not accepting new applicants)
- Comenity ‘Bread’ – 4.90% APY savings
- First Foundation – 4.85% APY savings
- Bask Bank – 4.85% APY savings (our review)
- Upgrade – 4.81% APY premier savings (minimum $1,000)(see this comment)
- Ivy Bank – 4.80% savings ($2,500 minimum; nationwide except for CA)
- Ivy Bank – 5.52% indexed savings account ($2,500 minimum; nationwide except CA)(review)
- Laurel Road – 4.80% high yield savings
- Quontic – 4.75% money market
- Merchants Bank – 4.75% APY money market
- BankPurely – 4.75% APY money market (minimum $25,000)(see this comment)
- mph – 4.70% savings
- CIBC – 4.67% APY savings (minimum $1,000)
- Brilliant Bank – 4.65% APY money market (minimum $2,000 to avoid fee)(see this comment)
- PNC – 4.65% high-yield savings (select areas)
- Styl Bank – 4.63% APY
- Wealthfront – 4.55% APY cash account (our review)
- Prime Alliance – 4.50% savings (minimum $10,000)
- Citizens Access – 4.50% APY savings account
- Synchrony / Paypal version – 4.50% APY savings
- BMO Harris – 4.50% APY savings (select markets)
- Betterment – 4.50% saving account (our review)(temporary .75% boost to 5.25%)
- Empower/Personal Capital – 4.45% APY cash account (our review)
- Usalliance – 4.40% APY high dividend savings
- Presidential Bank – 4.375% money market Advantage Checking ($25k-$250k)
- Mysavingsdirect – 4.35% APY savings (see this comment)
- B1 Bank – 4.35% APY
- Third Federal – 4.30% online savings plus (minimum $5,000)
- Lending Club Banking – 4.30% APY savings
- Elements Financial – 4.25% high yield savings ($10,000 minimum)
- Modern Bank – 4.25% high yield money market
- Quontic – 4.25% APY savings
- Discover – 4.20% APY savings when signing up via this link (standard account 4.15%) (review)
- Ally Bank – 4.15% APY money market
- Apple Card/Goldman Sachs – 4.15% savings (our review)
- Marcus Bank – 4.15% APY savings
- Sallie Mae – 4.15% APY money market
- Barclays – 4.15% APY savings
- Capital One 360 – 4.15% APY savings
- TIAA – 4.10% APY yield pledge savings (4.25% first year)
- Credit Karma Savings – 4.10% APY (our review)
- Mutual One – 4.07% premium savings
- Colorado Federal – 4.05% APY savings
- Citibank – 4.05% APY savings (not available in all states) (our review)
- SFGI – 4.01% APY savings
- Ally Bank – 4.00% APY savings
- Fidelity Bank – 4.00% savings
- Live Oak Bank – 4.00% APY savings
- U.S. Bank – 4.00% elite money market (minimum $25,000); valid through 6/13/23
- American Express – 4.00% APY savings account
- E*Trade – 4.00% APY savings
- Northpointe – 3.25% APY ($25,000 minimum to $3,000,000 maximum)
- Alliant Credit Union – 3.10% APY savings
- PenFed – 3.00% APY premium savings
- Fidelity – 2.60% cash management account
- T-Mobile Money – 2.50% APY savings for anyone (4% on up to $3,000 for T-Mobile customers; our review)
- Chime – 2.00% savings
- American Express – 1.00% APY checking account (our review)
- Yotta – .00% savings (plus you get lottery earnings)
Other Basic Options
- Customers Bank/Maxmyinterest – 5.10% max savings (see this review first)
- USAlliance – 5.00% 12-month no penalty CD
- M1 Finance – 5.00% APY savings account ($95/year)(our review)
- CIT Bank – 4.90% 11-month no-penalty CD
- Merrill Edge Preferred Deposit – 4.76% savings (initial opening needs $100,000)
- Robinhood – 4.65% APY for those with Gold membership ($5/month; our review)
- Morgan Stanley – 4.60% APY Preferred Savings Program
- SoFi Savings – 4.40% with monthly direct deposit of any amount (our review)
- My eBanc – 4.29% APY money market (minimum $100,000)
- J.P. Morgan Premium Deposit – 4.20% ($100,000 minimum initial deposit)
- Ally Bank – 4.15% 11-month no penalty CD (review)
- Marcus – 4.15% APY 13-month no penalty CD
- Usalliance – 4.00% APY 11-month no penalty CD
- Customers Bank – 2.00% APY checking (requires 2 bill payments, otherwise rate is 1%)
- Current – 4.00% APY savings on balances up to $2,000/$6,000 (our review)
All of these rates will fluctuate over time, and we’re constantly updating this list. There is an advantage to a bank who has a proven track record of giving good interest rates since some of the top rates might be ‘bait-and-switch’ soon to be lowered. Banks like CFG, Discover, Marcus, Ally and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate. See also What’s The Best Simple High-Yield Savings Account?
Another thing to keep in mind is that while most banks automatically increase your rate as interest rates increase, some don’t. We wrote data points on which do and which don’t here. 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%, you’re limiting to purchasing $10,000 annually (our review)
- U.S. Treasury Bills (our review)
- Brokerage Money market funds and Bond funds
- U.S. Series EE Bonds
- CD Annuities
- Vanguard VMFXX – 5.05%
- Fidelity SPAXX – 4.76%
Best CD Rates
Nationwide CD Offers:
11 Months or Less
- Andrews FCU 5.75% 9-month CD (review)(join with $8 ACC donation)
- NASA FCU 5.65% APY 9-month CD (review)(free to join)
- Bellco CU 5.50% 6-month CD ($5 to join)
- Bask Bank 5.10% 6-month CD
- Brilliant Bank 5.10% 3-month CD
- Brilliant Bank 5.05% 9-month CD
- Marcus Bank 5.05% 10-month CD
- Gateway First 5.00% 7-month CD
- Prime Alliance 5.00% 6-month CD
- Cit Bank 5.00% 6-month CD
- Heritage Bank 5.00% 5-month CD ($25,000 minimum)
- Quorum FCU 5.00%-5.10% 11-month CD (join with ACC membership free)
- Unify FCU 5.00% APY 9-month CD (free to join)
- America First 5.00%Â 6-17 month CD
- Newtek 4.90% 6-month CD
- Alliant 4.75% 6-month CD
- Jovia CU 4.75% 11-month CD ($5 to join)
- Heritage Bank 4.44% APY 6-month or 12-month CD ($25,000 minimum)
- My eBanc 5.01% 6-month CD
- Chase 4.00% APY 3-Month CD ($100k Minimum) (review)
- Parsons FCU 4.75% APY 6-month CD
12-18 Months
- Schwab up to 5.10% APY brokered CD 10-18 months (review)
- Vanguard up to 5.15% APY brokered CD 10-12 months (review)
- Fidelity up to 5.00% APY brokered CD 12 months (review)
- Merchants Bank 5.65% flex CD 12/24/36 month (rate changes, tied to fed rate) (our review)
- Amboy 5.30% variable rate 2-year CD
- USAlliance 5.70% 18-month CD
- Pacific Western Bank 13 month CD 5.50%
- Connexus CU 5.50% APY 12-month CD (minimum $5,000)(join w/ $5 donation)
- USAlliance 5.40% 18-month CD
- Brio 5.35% 12-month CD
- Quontic 5.30% 12-month CD
- NASA FCU 5.30% APY 15-month CD (review)
- Modern Bank 5.25% APY 18-month CD
- Comenity ‘Bread’ 5.20% APY 12-month CD
- Alliant 5.15% 18-month CD
- Colorado Federal 5.15% APY 12-month CD
- Union Square CU 5.12% 12-month CD
- BMO 5.10% 12 or 13-month CD
- My eBanc 5.10% 12-month CD (review)
- Limelight 5.10% 12-month CD
- PopularDirect 5.07% APY 12-month CD ($10,000 minimum)
- First Internet Bank 5.06% APY 12-month CD
- CFG 5.05% APY 12-month CD
- Pacific Western Bank 7/13 month CD 5.05%
- State Bank of Texas 5.05% APY 12-month CD (minimum $25,000) (our review)
- First Tech CU 5-5.05% 13-month bump up CD
- Discover 5.00% APY 18-month CD
- Ally Bank 5.00% APY 18-month CD
- Bask Bank 5.00% 12-month CD
- USAlliance 5.00% 12 or 18-month CD
- Bellco CU 5.00% 17-month CD ($5 to join)
- Alliant 5.00% 12-month CD
- Ivy Bank 5.00% 12-month CD
- Valley Direct 5.00% 12-month CD
- Live Oak Bank 5.00% 12-month CD (business CD)
- Quorum FCU 5.00% APY 12-month CD (new money only)
- Elements CU 5.00% APY 8-month or 13-month CD
- Citizens Bank 5.00% APY 12-month CD
- Sallie Mae 5.00% 18-month CD
- Barclays 4.90% 12-month CD
- Synchrony 4.90% 13-month CD
- Discover 4.75% APY 12-month CD
- Marcus Bank 4.75% APY 18-month CD
- Ally Bank 4.75% 13-month CD
- Marcus Bank 4.75% APY 12-month CD
- TIAA 4.75% APY 12-month CD
- Bask 4.70% APY 12-month CD
- Cit Bank 4.65% 13-month CD
- PenFed CU 4.65% APY 12-month CD
- Mutual One 4.59% 18-month CD
- American Express 4.15% APY 12-month CD
- GTE Financial 4.13% APY 12-month CD (review)
- Citibank 4.05% APY 12-month CD
19+ Months
- Parsons FCU 5.25% APY 24-month CD
- Comenity ‘Bread’ 5.00% APY 24-month CD
- USAlliance 4.85% APY 24-month CD
- Credit Human 4.80% 18-23 month CD
- Connexus CU 4.76% APY 24-month CD (minimum $5,000)(join w/ $5 donation)
- NASA FCU 4.60% APY 49-month CD (review)
- Chartway CU 4.50% APY 24-month CD
- U.S. Bank 4.40% 19-month CD
- PenFed CU 4.45% APY 24-month CD
- Fidelity Bank 4.35% 25-month CD
- Capital One 4.10% 5-year CD
- American Express 4.00% 24-month CD
- Abound CU 4.00% 26-month CD
Best Business Savings Rates
- U.S. Senate FCU (USSFCU) 5.18-5.28% APY 24-month CD (join with ACC membership free)
- First Internet Bank – 5.06% APY 12-month CD
- Live Oak Bank – 4.00% business savings ($300 bonus)
- Lending Club Banking – 3.60% APY business savings (review)
- TAB Bank – 3.50% money market
- Newtek Bank – 3.50% business savings
- NBKC Bank – up to 3.25% business CD
- First Internet Bank – 3.25% APY money market savings ($4,000 minimum to waive fee)
- Panacea/Primis – 3.00% business savings
- Bluevine – 2.00% APY business checking (up to $250,000; requires receivables or debit spend)
- NBKC Bank – 2.00% business money market
- American Express Business – 1.30% APY checking account (up to $500,000; plus 30k bonus)
- Paramount Bank – 1.10% business money market ($5,000 minimum to avoid fee)
- Axos Bank – 1.01% APY business checking (up to $50,000)
- Lending Club Banking – 1.50% APY tailored checking (review)
- Newtek Bank – 1.00% business checking
- Usalliance – rate varies from .05% to .60% depending on deposit amount
- Axos Bank – .20% business premium savings
Mega High-Interest (Nationwide)
Aside from basic accounts offering competitive interest rates, there are ultra high-yield options which are more involved and take time and patience to deal with. Bear in mind, all of the best options have velocity limits, sometimes it’s $5k, $10k, $15k, or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that. Someone who is impatient or doesn’t have spare time would best use a standard high-interest savings account options and forget about the velocity-limited accounts.
Below you’ll find all mega high interest accounts which are available nationwide, and in the next segment we list the regional options.
- Union Square Credit Union 6.01% APY On Balances Up To $35,000
- Pelican State Credit Union Kasasa Checking Account – 5.50% APY On Balances Up To $10,000
- OnJuno Review – Earn 5.12% APY Up To $50,000; 4% from $50k-$250k
- Presidential Bank 4.625% APY Checking On Up To $25,000 (With Requirements)
- Genisys Credit Union 5.25% APY High Yield Checking Account – Up To $7,500
- Fitness Bank 5% APY When You Have An Average Of 12,500+ Steps A Day
- The Bank Of Denver – 5% APY On Balances Up To $15,000
- Aspiration Spend & Save: 3%-5% APY On Balances Up To $10,000
- Hanscom Federal Credit Union 5% APY, On Up To $6,000
- Elements Financial 5% APY Checking Account, up to $20,000, with requirements
- Service Credit Union 3% APY On Balances Up To $3,000 + 5% savings account on up to $500
- Bank of Missouri 3.05% APY on Balances Up Too $15,000 (nationwide)
- HMBradley: 4.50% APY Savings Rate On Up To $100,000 with requirements (cardholders only)
- Porte Bank 3% APY On Balances Up To $15,000 + $50 Referral Bonus
- Western Vista Credit Union Rewards Checking 3.00% APY On Balances Up To $15,000
- Varo Money Savings Account – 5% APY (balance less than $5,000)
- Orion Federal Credit Union Premium Checking 5.00% APY On Balances Up To $10,000 (DD Not Required)
- Consumers Credit Union 4.09% APY On Up To $10,000 Rewards Checking
- T-Mobile Money Review – Earn 4% APY On Balances Up To $3,000 (Requires T-Mobile Account)
- Liberty Federal CU (Evansville): Vertical Dividend 3.45% APY Account, Balances Up To $20,000
- Great Lakes Credit Union (GLCU) – 2.50% Rewards Checking Account Review, up to $10,000
- Signature FCU Rewards Checking 3.50% APY on up to $20,000 [Nationwide]
- MarketUSA Federal Credit Union 3% APY Rewards Checking – Available Nationwide
- Lake Michigan Credit Union: 3% Reward Checking Account On Up To $15,000
- Blue Federal Credit Union 2% – 4% APY on up to $15,000
More Restrictive Options:
- H-E-B Netspend 6% APY Savings Account On Balances Up To $2,000
- Blue Federal Credit Union 4.99% APY Account (Up To $1,000)
- Premier Members Credit Union Reverse Tiered Money Market Account – Up To 2% APY on $2,000
- DCU 6.17% APY on balances up to $1000
- Netspend Prepaid 5% Interest Rate on up to $1,000Â
- KaiPerm Credit Union 6% APY Account On Balances Up To $1,000 (Membership Restricted)
- Workers Credit Union – .56% to .85% APY savings rate, special rate of 3.61% on first $1,000
Mega High-Interest (Regional)
Below are the regional accounts we’ve reviewed on the site. There are many more as well.
- Louisiana, Arkansas: CNext Bank 7.00% APY Checking Account On Up To $30,000Â
- Ohio: Buckeye State Bank 5% APY On Balances Up To $15,000
- Iowa: Advantage Credit Union 6% APY 12 Month CD
- Texas: Keystone 6% on up to $50,000
- Texas, Mississippi, Louisiana: Origin Bank Performance Checking: 6% APY, Balances Up To $40,000
- Texas, Nevada, Michigan: InTouch Credit Union High Yield Checking Account – 6.17% APY On Balances Up To $30,000
- Iowa, Nebraska, Minnesota, South Dakota:Â Iowa State Bank 3.25% APY on up to $25k
- Arkansas, Indiana, Nevada, North Carolina, Ohio, Michigan: United Federal Credit Union: Ultra Checking Account – Earn 3% APY On Balances Up To $15,000
- Maryland, Delaware: Destinations Credit Union: 3% Reward Checking Account, Up to $10,000
- Wisconsin, Illinois: Landmark Credit Union 7.50% APY High Rate  – Balances Of Up To $500
- Virginia, North Carolina: Beacon Credit Union 5.05% APY On Balances Up To $2,500
- Wyoming, Nebraska: Meridian Trust Federal Credit Union 3% APY On Balances Up To $15,000
- Illinois, Iowa: South East National Bank 3% APY On Balances Up o $10,000
- Arkansas, Mississippi: First Financial Bank 4.33% APY on Balances Up To $15,000 – Direct Deposit Not Required
- Parts of Arizona, California: Meriwest Credit Union 2.50% savings account on up to $5k [must be opened within 30 days of joining]
- Arizona Branches: Sunwest Credit Union 5.12% APY 12-Month CD (Unlimited)
- California, Illinois, Missouri: First Bank 3% APY on up to $25,000
- Alabama: Guardian Credit Union 4% APY On Balances Up To $30,000 Ultimate Checking Account
- Florida: Liberty Savings Bank 1% APY On Balances Up To $25,000; 1.5% Savings Account On Up to $50,000; $25 Referral Bonus
- Georgia (partial): MidSouth FCU 5% APY Checking Account on up to $10,000
- Illinois: Hometown Community Banks 4.01% APY Checking Account (10 Debit Card Transactions Required)
- Indiana: Interra Credit Union 5% APY On Balances Up To $10,000
- Iowa Premier Bank 5% APY Checking on Balances up to $5,000
- Kansas: State Security Bank 3% APY On Balances Up To $10,000 – Direct Deposit Not Required
- Louisiana: Bank of Ruston: Priority Checking Account 3% APY On Balances Up To $15,000
- Louisiana: La Capitol Federal Credit Union 4.25% On Balances Up To $5,000 – Direct Deposit Not Required
- Louisiana: Bank of Montgomery (BOM) 4.07% Premium Account On Balances Up To $15,000
- Maryland: Freedom Financial Credit Union 3% APY on balances up to $10,000
- Michigan: First United Credit Union 4% APY + $50 Bonus ($10,000 Limit)
- Michigan: Consumers Credit Union 4% APY
- Michigan (nationwide?): Chief Financial Credit Union 5.00% APY – No Direct Deposit Required
- Michigan: Arbor Financial CU 4% Checking On Balances Up To $15,000
- Michigan: Financial Plus Credit Union 4.15% APY On Balances Up To $10,000
- Michigan: Adventure Credit Union – 4% APY On Balances Up To $10,000
- Michigan:Â Kellogg Community Credit Union 4% APY Checking Account On Balances Up To $15,000
- Michigan: AAA High-Yield Checking – 2.85% On Balances Up To $10,000
- Michigan: Dort Federal Credit Union 5% APY On Balances Up To $10,000
- Minnesota: St Paul Federal Credit Union 4.99% On Balances Up To $20,000
- Missouri: Legacy Bank & Trust i-Profit 4% APY on Up To $10,000Â
- Missouri: Ozark Bank 3% APY Checking on Balances up to $10,000
- Missouri: Hawthorn Bank 3.01% APY On Balances Up To $30,000
- Nebraska: Liberty First Credit Union 3% APY On Balances Up To $30,000
- In parts of New York: Solvay Bank 4% APY Checking on Balances up to $15,000
- In New York: Apple Bank Youth (6-17) Savings Account: 3% APY On Balances Up To $10,000
- Ohio: Bridge Credit Union 10% APY Account On Balances Up To $1,500 (Lots Of Monthly Requirements)
- Oregon: Oregon Community Credit Union (OCCU) – 5.25% APY On Balances Up To $500 Ignite Savings Account
- South Dakota: Reliabank Ultimate Checking – 3.51% APY On Balances Up To $25,000 – Direct Deposit Not Required
- El Paso, Texas only: Evolve FCU Rewards ePriority Checking Account – 3% APY On Balances Up To $10,000
- Texas: Neighborhood Credit Union 4.25% APY On Balances Up To $50,000 + $200 Bonus
- Washington: STCU 5.09% APY on balances up to $500 with no requirements
- Washington, Oregon, Idaho: Gesa 7.00% APY on $500 in Savings (no requirements) and $5,000 Checking (requirements) (our review)
- Wyoming: WyHy FCU 3% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required
CIT Bank Platinum Savings Account is now listed as 5.05% APY at the CIT site, up from 4.95% APY. The 5.05% APY is for balances $5,000+.
Merchants Bank flex CD – 5.92%
Elements Financial 8 mo and 13 mo. CD 5.30% received email and it’s in the link but when I go to website still showing 5%
Wealthfront email and app notification
Increased to 4.8% this Friday
Does anyone use Fierce? It offers 5.25% on cash. It’s IOS only.
https://www.getfierce.com/
Fed raised another 0.25%!!
any problems with marcus??? I just referred a friend and am getting 5.15% for the next 3 months.
Let me know
Thanks!
They will lock your account when you try to pull out funds. Happened to me and P2 and was a giant PITA to deal with.
Why not go with CFG, they are consistently one of the top rates and higher than 5.15% currently.
Here’s a new one? https://zynlobank.com/ … 5% with unlimited withdrawals.
Think you meant to use this link https://zynlobank.com/account-type/money-market/
You’re correct! Thank you.
Matt, 007 Here are a few more details on this account.
ACH in 50K a day, 100K a month
ACH out 5K a day 5K a month for first 30 days
ACH out 10K a day, 25K a month but you can call to have it increased.
Cannot write checks
P1 and P2 can have joint accounts which would allow for more flexibility of moving $$$
Zynlobank has been around since 2019 and is the online for People’s Bank
Thanks SV! Any reason you can’t just use the money market account as your primary transaction account? Good to know they’ve been around for a while. Just opened an account. They don’t seem Chex sensitive. Have their MM rates generally been competitive? I don’t use checks or a debit card so this could be a great primary account for me earning 5% on everything.
Matt, I don’t have an account with them but called to get the above info. At first the gal said the transactions were limited to 6 because of the Feds. I said that’s not what the website said and she checked and came back and said unlimited transactions–does this mean that if the Feds enforce the rule of 6 it would change? I have no idea but suspicious it could or they would change it to a different type of account. She said their previous rate was 4.5 or something like that. Funny we haven’t heard of them before. I’m looking for another easy account that earns more then the 4.25 I’m getting at Element. I really like Element Financial but need something in the 5% to 6% range. She said their MM account is tied to the Fed rate so it can change but all of them are!
I called and spoke to a rep who only has the money market account herself. She says it’s actually a checking account behind the scenes and as such, no issues with regulation D. She said using it as a primary transaction account is no problem and the rate should always be competitive compared to the fed rate.
This could be a diamond! No fees or requirements.
Matt thanks for the info. The gal I talked with must have been a new hire. She had to ask someone else to get the proper answer to all of my questions.
Now I don’t know which account to use: Zynlo or Milli. Zynlo has extra insurance but doesn’t support beneficiaries. Milli’s rate is slightly higher but their app is very geared towards debit card use. And they allow beneficiaries.
Matt isn’t the extra insurance for anything over what the FDIC insures? If so many won’t need that and not sure I’d put even the limit in one bank in today’s world. Hard to believe they don’t allow beneficiaries. That’s a deal breaker for me and there are so many offers coming through on FB for 5% and above. It’s unbelievable and I think the main thing is going with one that isn’t going to drop the rate as soon as they get you into their bank. I heard that all banks must be compliant with new laws by 7-31-2023 so maybe this has something to do with banks trying to get funds into their bank.
Welcome to the Depositors Insurance Fund (DIF).
The DIF is a private, industry-sponsored insurance fund that insures all deposits above Federal Deposit Insurance Corporation (FDIC) limits at our member banks. The DIF has been insuring deposits since 1934.
All DIF member banks are also members of the FDIC. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
Gah. Milli is 5.25% but their app seems complicated. All I want is a simple account I can do ACH debit/credit to for day to day transactions. Discover may be the best bet at 4.2%. Not sure it’s worth going with a smaller name for an extra 1%.
I see alot of hate for sofi, but I’ve had great success so far with them.
SoFi was great for me, until I couldn’t meet the DD reqs anymore.
FYI – Nasa is a Charlie Foxtrot, Buyer Beware.
what?
edit: oh.. worked fine for me months ago
Ally Bank Money Market Account increases to 4.30% as of 7/24/2023