Author Topic: Your favorite high-interest savings options?  (Read 2575 times)

deek

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Your favorite high-interest savings options?
« on: October 03, 2018, 10:16:01 AM »
I'm looking for a good place to keep an E-Fund and not spend out of it until I have to. Can anyone recommend any good online accounts? My bank's savings account is only .10% interest (lol) while the checking account gains more... but it's a checking account that requires a certain amount of transactions.

rubybeth

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Re: Your favorite high-interest savings options?
« Reply #1 on: October 03, 2018, 10:46:26 AM »
I like Ally.com. I have two accounts--a money market account with limited check writing/debit card privileges where I keep just a minimal amount, and a savings account that has a higher interest rate where I keep a larger amount of funds. I can transfer funds between the two with no delays, so when we used funds from the savings to buy a car, I just transferred money to the money market account before we went to the dealer, wrote the check, easy.

When we bought our house, Ally was also awesome and sent us a cashier's check with FREE overnight shipping since I used their online chat and explained what was up--they waived the fee to overnight it.

They also have CDs if you think you'd really not touch the funds for a while.

PizzaSteve

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Re: Your favorite high-interest savings options?
« Reply #2 on: October 03, 2018, 10:48:59 AM »
Im using the former GE Capital bank -> Goldman Sach Bank -> (now Marcus).  Good rates, painless interface. Easy to set up reoccuring deposit into our checking of monthly funds needed to autopay typical bills. Used Discover Bank in past for sign up bonus.  Solid, slighly lower rates.
« Last Edit: October 03, 2018, 10:50:36 AM by PizzaSteve »

nobody123

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Re: Your favorite high-interest savings options?
« Reply #3 on: October 03, 2018, 10:49:08 AM »
I use Discover Bank online savings.  The APY is 1.85% today.  There is also a $200 sign up bonus if you deposit $25K.

HamsterStache

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Re: Your favorite high-interest savings options?
« Reply #4 on: October 03, 2018, 01:50:52 PM »
I use Capital One 360 Money Market Savings which is FDIC insured, unlike most money market products. Convenient since we us C1 as our regular bank. Deposits and withdrawals can be a bit slow, so I keep a traditional savings account open for time sensitive emergencies, over drafts etc. I won't spam the board with referral links, but I can give you one if you like - I think right now you get $100 bonus for opening with $10k+.  Currently at 1.85% and I expect it to go up again with the recent fed hike since their rate has gone up like five times since January already.

Mr. Green

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Re: Your favorite high-interest savings options?
« Reply #5 on: October 03, 2018, 01:54:51 PM »
I've been using Synchrony Bank for a while now and like how quickly they move up rates in step with the Fed. 1.9% currently on a savings account and 2.75% on a 15-month CD. I'd do a nice CD ladder in 12-15 month CDs if I was planning to keep 10k or more with them.

secondcor521

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Re: Your favorite high-interest savings options?
« Reply #6 on: October 03, 2018, 02:19:59 PM »
I use Alliant Credit Union High Yield Savings.  1.9% APY.  They may not currently be the highest, but they've been among the highest for years now, and for me chasing the 0.2% differential isn't high on my priority list, especially now as I'm not keeping much cash on hand.

Radagast

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CanuckExpat

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Re: Your favorite high-interest savings options?
« Reply #8 on: October 04, 2018, 10:09:01 PM »
I prefer Ally for usefulness, services, and conveniences. Rates are usually competitive (about 1.85% right now)

If you want to chase Yield, follow up on these:
Best Interest Rates on Cash October 2018
Best High-Yield Checking and Savings Accounts

Lady SA

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Re: Your favorite high-interest savings options?
« Reply #9 on: October 05, 2018, 11:06:04 AM »
I have access to Baxter Credit union through my employer, which offers a 2.0% checking account (with a certain number of transactions, which I get around easily by paying off my credit card weekly and having a few auto-bill pay things set up), and a 2.5% savings account (on amounts up to $25k, and a few caveats: the interest rate kicks in only after a year, you can only withdraw from the acct 4x a year, and deposits are limited to just $500 per month so it takes a while to build up) which is perfect for an emergency fund imo.

Car Jack

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Re: Your favorite high-interest savings options?
« Reply #10 on: October 05, 2018, 11:25:55 AM »
There are a ton of them out there.  How much money?  DCU gives you 5.12% on the first $1k in your primary savings account.  Redneck is 2%, CIT is like 1.85%, then there's Ally, Discover......  Add in CDs and checking account with flaming hoops to jump through and it gets even more complicated with even more choices.

FIREball567

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Re: Your favorite high-interest savings options?
« Reply #11 on: October 05, 2018, 04:51:28 PM »
I use purepoint financial. 2.15 APY.

deek

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Re: Your favorite high-interest savings options?
« Reply #12 on: October 08, 2018, 07:48:56 PM »
Thanks for the input everyone. I don't have much to put in an account right now, but I'm going to start exploring these options.