Posted by William Charles on January 11, 2019
Savings Accounts

Published on January 11th, 2019 | by William Charles

22

NASB 2.53% APY Savings Account ($50,000 Minimum)

[1/16/19: Added direct link below.]

Offer at a glance

  • Interest Rate: 2.53% 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

The Offer

Direct link to offer

  • NASB is offering a high rate savings account, this is an online only account that earns 2.53% 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

Avoiding Fees

This account has no monthly fees to worry about. You do have to pay $10 per incoming wire.

Our Verdict

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 2.53% 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.

 



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Jack - NJ
Jack - NJ

Definitely not switching over from EBSB. Measly .03 APY difference.

Jesus
Jesus

EBSB has been a nightmare to get approved.Took me almost 2 weeks to get an approved application after giving them more information than my family knows about me. 3 phone calls, 4 emails, 4 “couldn’t approve application” messages and I finally have an account (THAT I CANNOT ACCESS). Waiting to hear back on what the heck my account information is because signing in using my email as a USER ID pulls up phone numbers I’ve never seen before instead of my own!

J. Grant
J. Grant

I also signed up and had no idea what my account number was. called in, and the CSR gave me a partial acct #, said what I have on my end completes that account number. Nightmarish. Scared to actually send my money in and start banking with them.

DERRICK PIERCE
DERRICK PIERCE

So far it works fine for me. You will have to open it up in Microsoft edge or firefox to log on. but other than that I haven’t had any problems with EBSB.

akjohnny
akjohnny

I’ll keep my 2.35% at PNC.

Debit
Debit

Looking to switch from crappy HSBC when they payout my sign on bonus. The worst POS bank ever.

Tim
Tim

Agree. HSBC is absolutely terrible. I finally was able to get them to pay the bonus but it literally took daily calls to them for about 6 weeks straight. Never again.

More Info
More Info

Ditto

Had Consumer
Had Consumer

You are not the only one.

William F
William F

Anyone have success getting Bank of America to match savings account rates? My friend’s family who has a wealth management account with them apparently have this option. Any idea if Platinum Honors folks can do that? I’ve tried contacting bank of america

Tim
Tim

I have been Preferred Rewards Platinum Honors for years and have more than $1MM between BOA & Merrill. They have never matched any savings rates. I think your friend’s family doesn’t know what they are talking about.

Newt
Newt

Same here. I am preferred reward platinum honors. In fact Merrill edge contacted me recently about getting me to put my money back there but they can’t increase the 2.07 preferred deposit rate. They did offer me a signup bonus but they offer that to everyone right now.

woginaz
woginaz

I found a 25 month CD for 2.53%, but I can’t seem to locate any info on their site for the E-Savings account 2.53%.

Tim
Tim

I confirmed via online chat that it is a SOFT credit pull for the High Rate Savings.

Newt
Newt

The website is no longer offering this deal.

Newt
Newt

They are no longer offering this deal.

More Info
More Info

Yes they are offering it, it was never on their website with the link shown above. Try this link https://www.nasb.com/banking/landing-pages/high-rate-savings/

Chuck

Thanks for the link, I’ll update.

Ben
Ben

“We wish not to service an account for you at this this time”
This was after they sent me a “congratulations your account is open” email.
I called and asked why, they would only say “because we can”

This bank is a waste of time.

al
al

After 6 months the rate drop to regular APY rate and the 6 month 2.53% is just a promo. Not really interested if it drops to 1.3% which is what it shows right now

Stacy
Stacy

NASB charges a $30 fee if you close your account within 90 days of opening. Theoretically, couldn’t you get the higher rate for 6 months, then move your money to another savings account and close NASB?

al
al

Sure you can do that but is that what you want to do after 6 months. Seems like a burden. I got my local credit union to match the rates but after 6 months I’m going to be having the same conversation with them again about matching the rates again.

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