Author Topic: High Yield Savings/Checking accounts?  (Read 584 times)

jeromedawg

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High Yield Savings/Checking accounts?
« on: March 11, 2021, 05:19:00 PM »
Hi guys,

Any recommendations on high yield savings or checking accounts to keep larger chunks of funds? We have "downpayment" money sitting in our Chase account, which yields a measly .05%

I do have an account with Synchrony (currently at .50%) so wondering if I should just dump more into that or if I should go another route. I also have an investing account with Axos and saw their their rates for a savings account are at .61%


sonofsven

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Re: High Yield Savings/Checking accounts?
« Reply #1 on: March 11, 2021, 07:05:07 PM »
I am sitting at .50 (Discover), interested to hear other options.

NotJen

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Re: High Yield Savings/Checking accounts?
« Reply #2 on: March 12, 2021, 06:02:32 AM »
Check out this list on Doctor of Credit, they try to keep up with the best rates available:  https://www.doctorofcredit.com/high-interest-savings-to-get/

cool7hand

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Re: High Yield Savings/Checking accounts?
« Reply #3 on: March 12, 2021, 06:14:32 AM »
Check out this list on Doctor of Credit, they try to keep up with the best rates available:  https://www.doctorofcredit.com/high-interest-savings-to-get/

Great resource. Thanks!

jeromedawg

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Re: High Yield Savings/Checking accounts?
« Reply #4 on: March 12, 2021, 09:00:56 AM »
Check out this list on Doctor of Credit, they try to keep up with the best rates available:  https://www.doctorofcredit.com/high-interest-savings-to-get/

Thanks, I was looking at that site. I was unsure about many of the ones that are above .50 though... I don't recognize or am not familiar with most of those banks. Do any of you have accounts with those? I went ahead and opened a TMO account but am not so sure now - seems like they're changing the rules on it to require 10 transactions per month to qualify for the 4%. The details are a bit fuzzy but I may put some $$$ in there just to see (nm...my plan is not a postpaid - it's one of the free 200mb data/internet plans. They can see that and are asking if I want to upgrade to get the 4% haha. Not sure if I'd qualify for the 1% though, and if there's a cap to that as well)
« Last Edit: March 12, 2021, 09:33:43 AM by jeromedawg »

bearcat1

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Re: High Yield Savings/Checking accounts?
« Reply #5 on: March 12, 2021, 10:06:26 AM »
Quote
Thanks, I was looking at that site. I was unsure about many of the ones that are above .50 though... I don't recognize or am not familiar with most of those banks. Do any of you have accounts with those?

Posting here to follow. Am wondering the same thing. I haven't heard of most of those other than Ally and my current one, FNBODirect. Thinking I can do a little better than .4%!

NotJen

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Re: High Yield Savings/Checking accounts?
« Reply #6 on: March 12, 2021, 12:09:40 PM »
Check out this list on Doctor of Credit, they try to keep up with the best rates available:  https://www.doctorofcredit.com/high-interest-savings-to-get/

Thanks, I was looking at that site. I was unsure about many of the ones that are above .50 though... I don't recognize or am not familiar with most of those banks. Do any of you have accounts with those? I went ahead and opened a TMO account but am not so sure now - seems like they're changing the rules on it to require 10 transactions per month to qualify for the 4%. The details are a bit fuzzy but I may put some $$$ in there just to see (nm...my plan is not a postpaid - it's one of the free 200mb data/internet plans. They can see that and are asking if I want to upgrade to get the 4% haha. Not sure if I'd qualify for the 1% though, and if there's a cap to that as well)

I have never had a problem with an account at a bank I had never heard of that I found on the DoC (or similar) website.  Read the comments on DoC, do some basic research on the bank, and make sure to understand all the fee and restrictions first.

I'm considering signing up for the T-Mobile account as a place to stash the proceeds from selling my house.  The FAQs say the 1% is for everyone, and no cap that I saw.