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DCU raises Primary Savings 5% APR threshold from $750 to $1,000

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DeeBee78
Valued Contributor

DCU raises Primary Savings 5% APR threshold from $750 to $1,000

I thought I posted this last night, but I must not have clicked the post button. 

 

While researching bank account bonuses on Doctor of Credit, I noticed that DCU was listed as offering 5% APR on the first $1,000 in savings. I was confused, because it's been $750 since I became a member earlier this year. I looked at DCU's current rates last night, and sure enough, Primary Savings now offers 5% on the first $1,000. 

 

This means $50 a year in interest on a $1,000. Not a bad place to stash a little liquid cash and earn something on it at the same time. The savings rate drops to a dismal .05% after $1,000, so it's not really worth keeping more than that in the account. 

 

I used to use Capital One 360 for a 1% APR, but even they've dropped to .75% now. I'm currently looking for a new place to stash my savings if anyone has a suggestion. 

 

Screen Shot 2017-08-22 at 11.25.58 AM.png

Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000

Here is a quick list on a few i gathered:

 

BankAPYMininum Opening DepositMonthly FeeMinimum Balance Required to Waive Monthly Fee
Discover1.15%$0$0$0
U.S. Bank0.01%$25$4$300
Chase0.01%$25$5$300
Citibank0.01%$100$5$500
Bank of America0.01%$25$5$300
Wells Fargo0.01%$25$5$300
Fifth Third Bank1.00%$50$5$500
PNC Bank1.00%$25$5$300
Capital One0.75%$0$0$0
Ally Bank1.15%$0$0$0
GS Bank1.20%$0Unknown$1
Message 2 of 15
Anonymous
Not applicable

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000

Someone posted this information in an older thread a few weeks ago but it's more visible in a new thread. Thank you!Smiley Happy 

Message 3 of 15
Anonymous
Not applicable

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000


@Anonymous wrote:

Here is a quick list on a few i gathered:

 

BankAPYMininum Opening DepositMonthly FeeMinimum Balance Required to Waive Monthly Fee
Discover1.15%$0$0$0
U.S. Bank0.01%$25$4$300
Chase0.01%$25$5$300
Citibank0.01%$100$5$500
Bank of America0.01%$25$5$300
Wells Fargo0.01%$25$5$300
Fifth Third Bank1.00%$50$5$500
PNC Bank1.00%$25$5$300
Capital One0.75%$0$0$0
Ally Bank1.15%$0$0$0
GS Bank1.20%$0Unknown$1

Thank you for the list.

 

Barclays is also offering 1.20% APY.

Message 4 of 15
DeeBee78
Valued Contributor

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000


@Anonymous wrote:

Someone posted this information in an older thread a few weeks ago but it's more visible in a new thread. Thank you!Smiley Happy 


I looked to see if this was alredy posted, but couldn't find anything recent concerning DCU. Smiley Frustrated

Message 5 of 15
Anonymous
Not applicable

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000

No problem...I actually got this off Discover's website.  Also, see below, just got this email from Discover:

 

make your savings earn more with a Discover Online Savings Account
1. Open your account with any amount you choose when you apply online by 10/31/17.
2. Enjoy your 1.39% introductory interest rate** with a 1.27% APY for the first 180 days your account is open. After 180 days, you'll still enjoy the then applicable variable interest rate, which is 1.14%/1.15% APY† as of 8/4/17.
3. Plus, you'll always enjoy:
• Earning interest over 5X the National Savings Average*
• No monthly fees or minimum balance requirements
• FDIC-insured to the maximum allowed by law

Message 6 of 15
Anonymous
Not applicable

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000


@DeeBee78 wrote:

@Anonymous wrote:

Someone posted this information in an older thread a few weeks ago but it's more visible in a new thread. Thank you!Smiley Happy 


I looked to see if this was alredy posted, but couldn't find anything recent concerning DCU. Smiley Frustrated


I totally understand your frustration. Thanks again for creating a new thread. Now others can easily find the information.

Message 7 of 15
Anonymous
Not applicable

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000


@Anonymous wrote:

No problem...I actually got this off Discover's website.  Also, see below, just got this email from Discover:

 

make your savings earn more with a Discover Online Savings Account
1. Open your account with any amount you choose when you apply online by 10/31/17.
2. Enjoy your 1.39% introductory interest rate** with a 1.27% APY for the first 180 days your account is open. After 180 days, you'll still enjoy the then applicable variable interest rate, which is 1.14%/1.15% APY† as of 8/4/17.
3. Plus, you'll always enjoy:
• Earning interest over 5X the National Savings Average*
• No monthly fees or minimum balance requirements
• FDIC-insured to the maximum allowed by law


Sweet!

 

You may want to do a quick search to see if they have a sign up bonus. 

Message 8 of 15
Anonymous
Not applicable

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000

1k now?  SWEET.  Thank you.  Haven't noticed.

 

What about Lake Michigan Credit Union?  Up to $15k for checking, with 3%?  Yes, there's hoops with using a debit card every month, but it's worth a look at least.

 

...unless we're just concentrating on Savings accounts only.

Message 9 of 15
Gregory1776
Valued Contributor

Re: DCU raises Primary Savings 5% APR threshold from $750 to $1,000


@Anonymous wrote:

1k now?  SWEET.  Thank you.  Haven't noticed.

 

What about Lake Michigan Credit Union?  Up to $15k for checking, with 3%?  Yes, there's hoops with using a debit card every month, but it's worth a look at least.

 

...unless we're just concentrating on Savings accounts only.


@this is what I'm looking for!  I'm looking for a checking account @ ~4%+ I can pass the required # of transactions buy putting 5 bucks of gas in my tank at a time! I thought they were myths! 😂 I usually use Credit Cards, well I have started to, but I want to start earning some high interest on my checking! Going to create another thread rather than hijack this one.....😉😊

Message 10 of 15
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