Deal has expired, view more high yield savings accounts by clicking here.
Offer at a glance
- Interest Rate: 3.1% APY
- Minimum Balance: $50,000
- Maximum Balance: $250,000
- Availability: Must live in one of the following Michigan counties for online sign up: Oakland, Wayne, Macomb, Washtenaw, Livingston, and Monroe.
- Direct deposit required: No
- Additional requirements: None
- Hard/soft pull: Soft
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: $6, avoidable
- Insured: FDIC
The Offer
- Level One Bank is offering a ‘flash savings account’, this account earns 3.1% APY and the rate is guaranteed for six months
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has a $6 monthly fee, this is waived with an average monthly balance of $250 or more.
Our Verdict
I think it’s fairly safe to assume that after the six month guaranteed period the APY on this will drop significantly. Because of that you’re really just locking in a six month CD at 3.1% APY, not the worst deal and could be useful for somebody with a lot of liquid cash but I doubt this will be a long term high yield savings account option.
