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DCU savings rate now 6.17%

Contributor

DCU savings rate now 6.17%

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

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Message 1 of 33
32 REPLIES
Valued Contributor

Re: DCU savings rate now 6.17%

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

Starting Scores FICO 8 (Feb '18):
EX- 519, TU- 530, EQ- 545

Current Scores



Message 2 of 33
Frequent Contributor

Re: DCU savings rate now 6.17%

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



Message 3 of 33
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
2018-06-16 FICO 08: EQ 688, TU 718, EX 718
2018-11-17 FICO 08: EX 725
2018-11-07 FICO 08: TU 730
Gardening again until... March/April 2019(I want a RAV4)
Message 4 of 33
Contributor

Re: DCU savings rate now 6.17%

That's $5 per month. Not bad.

Message 5 of 33
Community Leader
Valued 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.


Fico 08: 720/721/719 TU/EX/EQ
Message 6 of 33
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 33
Senior 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.

Protections: CSR, Schwab Platinum, Costco, Double Cash
Rewards/Offers: BBP, CF, CFU, Discover, ED, BCE
Annual nights: IHG, Hyatt
PIN: Arrival
Bonus chasing/retention games: Aviator Red, SPG Luxury
Message 8 of 33
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 33
Valued 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 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 33