I researched FDIC insured high-yield savings accounts that pay up to 6%.
Here is the list:
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Replies
1. Brio Bank - 5.35% APY
Minimum deposit - $5,000
Fees & other info - no monthly maintenance fees, need to maintain $25. Part of Webster bank.
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2. Ivy bank - 5.30% APY
Minimum deposit - $2,500
Fees & other info - need to maintain $2,500 balance to earn the rate, 6 withdrawals per months, maximum balance $1,000,000
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3. Jenius bank - 5.25% APY
Minimum deposit - $0
Fees & other info - interest compounded daily, no fees or minimum balance requirements, quick withdrawals and deposits. Part of SMBC Manubank.
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4. Everbank - 5.15% APY
Minimum deposit - $0
Fees & other info - no monthly account fees, no minimum balance requirements
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5. Bask bank - 5.10% APY
Minimum deposit - $0
Fees & other info - no monthly account fees, no minimum balance required to maintain the interest
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I personally use Vanguard Money Market Fund.
It's a mutual fund that invests in short-term treasury and government obligations (not FDIC insured)
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So many people still use 0% interest banks.
Please:
1. Give
@money_cruncher
a follow for more tips
2. Retweet the first post so others can learn about these options
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@money_cruncher
What about Wealthfront? 5% and 5.5% using a referral link which are easy to find. Temp boost to 6% even if I refer a coworker
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@money_cruncher
All this is is a slow bleed of your cash. You’re wealth your money you will never get ahead doing any of this stuff.
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