Any 4% or more savings accounts?

[DaveInAZ]

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@Green456 wrote:

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Premier Members CU

- 4% interest up to $2,000

- $8 per month in interest

- I've also been with them since 2017, very easy to join ($5 donation required if out of their geo location) and a nice rainy day fund. Their checking account has too many requirements to be worth it for me. As noted check Doctor of Credit for a referral code, they & you get $50 each .

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Was that hard or soft pull for you. And thank you on the input on the other CUs.

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Soft pull, but like many banking account your credit report needs to be unlocked/unfrozen for the SP, primarily to verify identity. As recall it was EX they soft pulled.

[Anonymous]

Green456 great current list! Thanks for the good info

[Anonymous]

Another person asked the same question on another thread.  Here was my response, in case it helps you out:....

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You might want to look at this link

https://www.doctorofcredit.com/high-interest-savings-to-get/

with particular attention to the section lower down entitled:

Mega High-Interest (Nationwide)

Mega High-Interest (Nationwide) -- More Restrictive Options

Mega High-Interest (Regional)

You will find several places offering 5% and more.

Better still (in my opinion) would be to explore the possibility of chasing SUBs (sign up bonuses) for opening new bank accounts.  Between you and your wife you could easily make $3000 a year doing that.  $3000 of profit using 10k of funds is a 30% return.  If you are curious at learning more I can point you toward some resources.

You can combine bonus chasing with the high-interest deposit options as well.

[Green456]

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@Anonymous wrote:

Another person asked the same question on another thread.  Here was my response, in case it helps you out:....

===================

You might want to look at this link

https://www.doctorofcredit.com/high-interest-savings-to-get/

with particular attention to the section lower down entitled:

Mega High-Interest (Nationwide)

Mega High-Interest (Nationwide) -- More Restrictive Options

Mega High-Interest (Regional)

You will find several places offering 5% and more.

Better still (in my opinion) would be to explore the possibility of chasing SUBs (sign up bonuses) for opening new bank accounts.  Between you and your wife you could easily make $3000 a year doing that.  $3000 of profit using 10k of funds is a 30% return.  If you are curious at learning more I can point you toward some resources.

You can combine bonus chasing with the high-interest deposit options as well.

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I saw that website recently. Bonus chasing can be lucrative but we are both more into completely set it and forget it income. Hence I was particularly interested in savings only options and not checking accounts, as those often require debit transactions to get high interest rate. 

[dragontears]

Your math is off, 4% on $2000 is $80/year so unless the number of months in a year has changed no way you can get $8/month at pmcu with $2000

[Anonymous]

Southwest Airlines Federal Credit Union does 4% on Checking...

[Green456]

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@Anonymous wrote:
Southwest Airlines Federal Credit Union does 4% on Checking...

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This is rewards checking. Meaning you have to meet monthly spending  goals, etc to get 4% back, otherwise you rate goes down to 0.25%. In here I am only interested in completely passive income.

[Anonymous]

True, plus membership is limited...or you can get a ton of Netspend cards...@5% per $1000...that’s a savings acct..

[Anonymous]

I'm in BECU, DCU and some other local ones. There's also St Mary's Bank. I'm still researching that one, but here's what I've found so far.

Their Rainy Day Savings account gives 5% on balances between $25-$499, and 3% on the portion of the balance between $500 and $999. You need to make a minimum transfer of $25 per month from a St Mary's checking account (they have a bog standard fee free account) or from Direct Deposit. You are allowed one free withdrawal from the savings account per month, with all subsequent costing $2. I'm thinking that it may be possible to keep some value in the checking ($10 minimum opening), then transfer $25 + monthly interest to the checking (or elsewhere), and $25 back from the checking to the savings. I do this with some of my other accounts to keep the balance under the maximum. I need to check up on this though. It's a bit of leg work, but not like a rewards checking.

Also, not strictly a bank, but I've heard people on other forums talking about Worthy Bonds. It's a short term (3 year) bond that pays out 5% interest. You purchase in multiples of $10, and there is no penalty for withdrawing early. In essence, it acts like a HYSA. They aren't FDIC or NCUA insured, so it may be wise only keeping a little bit in there for a small amount of extra interest. Supposedly transfers can take up to a week though.

[Anonymous]

I'll try this again, seeing as my previous post was marked as spam, for some reason. I have BECU and DCU (plus a couple of local ones) right now, but one that I'm still doing some more research on is St Mary's Bank out of New Hampshire. They have a Rainy Day Savings that has 5% on balances up to $499, then a blended rate of 3% on balances between $500 and $999. You need to make a $25 transfer from a St Mary's checking account per month, or receive one DD of $25 or more, and you are only allowed one free withdrawal per month. Subsequent ones are $2 each. There's a few things I still need to check out before determining whether it is worth it, but just wanted to mention it.