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DCU savings rate now 6.17%

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Anonymous
Not applicable

DCU savings rate now 6.17%

6.17% APY for the first $1,000. It was 5.x% 

Message 1 of 35
34 REPLIES 34
19eighty5
Senior Contributor

Re: DCU savings rate now 6.17%

That's incredible. I'm loving these interest rates increases across the banks.

FICO 8 (Feb 2018):EX- 519, TU- 530, EQ- 545
FICO 8 (Sept 2022):EX- 706, TU- 685, EQ- 684
What's in my wallet:


Message 2 of 35
Anonymous
Not applicable

Re: DCU savings rate now 6.17%

That's a nice little bump.  I hope other high yield accounts follow.

Message 3 of 35
Ardecko
Frequent Contributor

Re: DCU savings rate now 6.17%

Are there any more just put your money here and make "bank" without intricate dances accounts?
2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2020-02-07 FICO 08: TU 789
2020-02-10 FICO 08: EX 752

Gardening, mostly, again until... soon(I need to replace my car)

Message 4 of 35
Green456
Established Contributor

Re: DCU savings rate now 6.17%

That's $5 per month. Not bad.

Message 5 of 35
DaveInAZ
Senior Contributor

Re: DCU savings rate now 6.17%


@Green456 wrote:

That's $5 per month. Not bad.


$5.141667 per month if you count the pennies & fractions - $61.70 per year divided by 12.

I'm lovin' DCU - 6.17% on my rainy day fund, completely free checking with fast & free bill pay, 65 month 2.99% car loan taken out in Oct. 2017 on a 2016 used car. A $5 fee for ACH transfers out, but that's what mobile check deposits are for - same day credit & free.

Message 6 of 35
iced
Valued Contributor

Re: DCU savings rate now 6.17%

It's a shame it's only the first $1,000. Since 2014, they went from the first $500 to the first $750 to the first $1,000. Was hoping they'd raise the cap again.

Message 7 of 35
wasCB14
Super Contributor

Re: DCU savings rate now 6.17%

If I was going to open a new checking or savings account, I'd be much more interested in getting a straightforward cash bonus than playing APR games with toy balances.

 

Wells Fargo gave me $250 for putting $50 in a checking account for a few months (I think they even only required $25). $250 is worth ~4 years' interest on $1k at 6%, and that doesn't even consider opportunity cost.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 8 of 35
Green456
Established Contributor

Re: DCU savings rate now 6.17%


@wasCB14 wrote:

If I was going to open a new checking or savings account, I'd be much more interested in getting a straightforward cash bonus than playing APR games with toy balances.

 

Wells Fargo gave me $250 for putting $50 in a checking account for a few months (I think they even only required $25). $250 is worth ~4 years' interest on $1k at 6%, and that doesn't even consider opportunity cost.


I disagree. It very much so depends on your financial situation. For some people that $1,000 is a lot of money. For others money is money. For me $10 a month (household of 2 people) is $10 a month without having have to move my finger.

Message 9 of 35
Anonymous
Not applicable

Re: DCU savings rate now 6.17%


@wasCB14 wrote:

If I was going to open a new checking or savings account, I'd be much more interested in getting a straightforward cash bonus than playing APR games with toy balances.

 

Wells Fargo gave me $250 for putting $50 in a checking account for a few months (I think they even only required $25). $250 is worth ~4 years' interest on $1k at 6%, and that doesn't even consider opportunity cost.


I hear this argument all the time, the things is they're not mutually exclusive, you can have $1k making 6.17% APY while going for the BoA SUB, especially SUBs that doesn't require large sums of deposits.

 

@Between my 2 Insights, 5 Netspends, 1 Mango, DCU, Premier and WYHY, I have 21k @ 5%+ and 19k @ 4%, about to open another rewards checking for 30k @ 4%, that's $3k+ a year in interest. At the same time, my first batch of deposit account SUBs opened in June/July (7 accounts) just returned a total $1625.

Message 10 of 35
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