Did you know that you can put your money to work while it’s sitting in the bank account. Sure, you know about your standard saving’s accounts, you’ve probably had one since you were a kid. But things have changed. Most standard savings accounts pay 0.25 percent APY. But a new breed of high-interest savings accounts offer a much higher rate of earning for doing nothing.
Here are our top 4 high-interest savings accounts:
1. Marcus by Goldman Sachs
Goldman Sachs, used mostly by the ultra-rich, has recently introduced a great savings option for the average person. Marcus by Goldman Sachs is a high-interest savings account with a low minimum deposit of $1, and a maximum of $1 million. You’ll earn an interest rate of 1.60 percent APY. You can even make a maximum of six transfers or withdrawals from your account per month. You can link your existing bank accounts to this savings account easily.
2. CIT Bank
The CIT Bank Money Market offers an interest rate of 1.75 percent APY! There is however a $100 minimum initial deposit to open your account. You’re allowed up six withdrawals or transfers each month. There’s a great mobile app as well, and your account is insured by the FDIC.
3. Sallie Mae Money Market
When you hear Sallie Mae you may think student loans, but Sallie Mae also offers high-interest savings accounts. A 1.65 percent APY with no minimum balance required, and no monthly account fees. Transfers are free, with a standard maximum of six withdrawals per month. Your account is insured by the FDIC as well.
4. Dollar Savings Direct
Dollar Savings Direct offers a high-yield savings account with a 1.80 percent APY, one the highest around. There’s no minimum deposit or monthly fees. You can easily open your new savings account online. You can also easily link to your existing checking account, making transfers simple. All accounts with Dollar Savings Direct are FDIC-insured.
Get Started: Switch to a Better Savings Account
With these options, you can enjoy interest rates ranging from 1.60 percent to 1.85 percent APY, significantly more than your father’s savings account. Want to know more about the latest high-interest savings account options? Search today!