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Highest Yield Savings or Checking Accounts

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Caught750
Valued Contributor

Highest Yield Savings or Checking Accounts

Which banks and CUs still have APYs of 4-5% or greater on Checking and Savings Accounts?

 

Looking to stick $25k into these accounts.  Chex is all good and not worried about HPs to open accounts or get into CUs.  I know it'll take several accounts get these APYs.

PERSONAL; Amex | AOD FCU | BBVA | BECU | Capital 1 | Chase | Citi | Discover | Key | NFCU | PSECU | SECU MD | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current F8s ~750 Best Ever F8s ~775
TOTAL PERSONAL CL > $350k and TCL > $365k
Message 1 of 13
12 REPLIES 12
AllZero
Mega Contributor

Re: Highest Yield Savings or Checking Accounts

Message 2 of 13
Anonymous
Not applicable

Re: Highest Yield Savings or Checking Accounts

I think all the good/high rate ones have dried up, so bummed that both Amex and Disco have dropped to .40%! I haven't been able to find one that pays more than .50% without any hoops or $ limits on earnings or having regional blocks. I recently opened a Buiness Checking with Blue Vine because their interest rate is 1% while BoA's is 0%, plus the fact that BoA charged me a service fee after pulling a shenanigans move with the deposit balance amount. And trying to get through to them to address it proved ueseless so I moved on from them. 

 

Seems like a person would haev to split that $25K up into several high rate accounts to get the most impact.

 

 

 

 

 

Message 3 of 13
Caught750
Valued Contributor

Re: Highest Yield Savings or Checking Accounts

So it seems, I've never been a huge fan of BoA and from my conversations with them its a mutual feeling.

 

At this point I think the best bet is,

DCU for $1k at 6.17%

Blue FCU for $1k at 5%

Consumers for $10k at 4%

ETFCU gets the remainder at 3.3%

PERSONAL; Amex | AOD FCU | BBVA | BECU | Capital 1 | Chase | Citi | Discover | Key | NFCU | PSECU | SECU MD | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current F8s ~750 Best Ever F8s ~775
TOTAL PERSONAL CL > $350k and TCL > $365k
Message 4 of 13
Anonymous
Not applicable

Re: Highest Yield Savings or Checking Accounts


@Caught750 wrote:

So it seems, I've never been a huge fan of BoA and from my conversations with them its a mutual feeling.

 

At this point I think the best bet is,

DCU for $1k at 6.17%

Blue FCU for $1k at 5%

Consumers for $10k at 4%

ETFCU gets the remainder at 3.3%


Blue is said to be insanely Chex sensitive. As in more than 1/12 = rejection. 

https://ficoforums.myfico.com/t5/Personal-Finance/Blue-FCU-Infamous-for-being-chex-senstive-will-it-...

Message 5 of 13
SouthJamaica
Mega Contributor

Re: Highest Yield Savings or Checking Accounts


@Anonymous wrote:

I think all the good/high rate ones have dried up, so bummed that both Amex and Disco have dropped to .40%! I haven't been able to find one that pays more than .50% without any hoops or $ limits on earnings or having regional blocks. I recently opened a Buiness Checking with Blue Vine because their interest rate is 1% while BoA's is 0%, plus the fact that BoA charged me a service fee after pulling a shenanigans move with the deposit balance amount. And trying to get through to them to address it proved ueseless so I moved on from them. 

 

Seems like a person would haev to split that $25K up into several high rate accounts to get the most impact.

 

 

 

 

 


Alliant Credit Union's regular savings account is paying .55%. No limit on amount.

 

DCU's savings account pays 6% on first $1000

 

Affinity FCU's high yield savings account pays 2% on the first $2500.

 

Hanscom FCU CU Thrive account pays 2% (requires periodic automatic payments from checking, limited at 5k, 1 year maturity)


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 6 of 13
KLEXH25
Valued Contributor

Re: Highest Yield Savings or Checking Accounts

I think you'll be hard pressed to find anything that high these days, especially without a low cap. You're probably better off trying for banking bonuses for new accounts. 



Message 7 of 13
PullingMeSoftly
Valued Contributor

Re: Highest Yield Savings or Checking Accounts

Evansville Teachers FCU is the best of the bunch IMO. Their Vertical checking account gives 3.3% on up to 20k. Most ACH's in any amount satisfy the DD requirement, and the 15 debit purchases have no min spend amount (so $.50 Amazon reloads do nicely). I also like the checking rewards progress interface that shows what requirements have been fulfilled for the month.






Message 8 of 13
longtimelurker
Epic Contributor

Re: Highest Yield Savings or Checking Accounts


@PullingMeSoftly wrote:

Evansville Teachers FCU is the best of the bunch IMO. Their Vertical checking account gives 3.3% on up to 20k. Most ACH's in any amount satisfy the DD requirement, and the 15 debit purchases have no min spend amount (so $.50 Amazon reloads do nicely). I also like the checking rewards progress interface that shows what requirements have been fulfilled for the month.


Yes, I agree on rewards checking, this seems at least among the top at the moment.    For checking (which I use as savings really) I use Paramount Bank, which pays 0.85%, now capped at $100,000, with no requirements or fees.

Message 9 of 13
Duke_Nukem
Established Contributor

Re: Highest Yield Savings or Checking Accounts

I'm also in the market for parking some $$$ after making some new checking/savings SUB runs recently.

  • Currently maxing out NFCU Special CD at $3,000 @ 3.3% APR (renews next month at current 3.0% APR).  One CD for each family member, and no hoops to jump through other than typical CD penalties.
  • Evansville Teachers FCU @ 3.3% APR max of $20k.  A few hoops to jump through, but monitoring is nice via their counters.
  • Various other accounts, but only earning 0.4-0.5% at the moment.

I'm looking for somewhere else to place extra emergency $ and $ to go towards remodelling and repairs needed for our homestead.  I'm trying to find something that works well, so looking at:

  • T-Mobile checking 1.0% no limit and no hoops to jump through.  I'm not a T-Mobile customer, so I wouldn't qualify for their 4% rate (max $3k, then 1% over that).  Looks like the easiest to manage, but the next couple of options have a much higher earn rate.
  • HMBradley savings up to 3% at max $100k if you save 20% of your DD (looks like it has to be a true DD).  I'm very interested in this one, but unsure how it works if I need to withdraw some $ at some point.  If I DD only $100 each month, then I can only withdraw $80 to keep the 3% APR rate.  If I just parked the $ here and started using the ETFCU account as the transactions account, this may work best.
  • Open a 2nd ETFCU account (different person than 1st account)... but I really don't want to mess with another 15 debit transactions per month.  Amazon $0.50 reloads work extremely well and clear almost immediately... Venmo is a bit painful and clears slowly, IMO.

Anyone have experiences to share for T-Mobile or HMBradley accounts?


Message 10 of 13
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