Published on April 8th, 2019 | by William Charles28
NASB Savings Account ($50,000 Minimum) Rate Reduced To 2.38% (From 2.53%)
Update 4/8/19: Rate has been decreased to 2.38% APY from 2.53%, so might be worth considering a new high rate savings account.
[1/16/19: Added direct link below.]
Offer at a glance
- Interest Rate: 2.38% APY
- Minimum Balance: $50,000
- Maximum Balance: $5,000,000
- Availability: Nationwide
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Insured: FDIC
- NASB is offering a high rate savings account, this is an online only account that earns 2.38% if you have a balance $50,000 – $5,000,000 (the full balance earns at 2.53% as long as it’s above that $50,000 minimum).
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about. You do have to pay $10 per incoming wire.
Definitely not recommend compared to other high yield accounts now that it’s 2.38%
It doesn’t seem like the website is fully functional yet, to get this account you actually need to sign up for E-Savings account and that will get you this 2.38% rate. The rate is guaranteed for six months. This offer is slightly better than the current top high yield savings account. That being said, we don’t have any rate history with this bank so it’s unclear how likely they are to raise rates and what will happen after the guaranteed period. Because this is only slightly higher than the current top rate and the fact it has a $50,000 minimum and some fees for wires I wouldn’t recommend it.
Hat tip to Jchmonti.