https://www.reddit.com/r/FIREyFemmes/comments/p17qct/favorite_high_yield_savings_account/
created by mercurialjuliette on 09/08/2021 at 18:47 UTC
57 upvotes, 18 top-level comments (showing 18)
Looking for a new HYSA. Varo was good for a few months but I'm unhappy with the new terms and looking for a better option.
Comment by [deleted] at 09/08/2021 at 18:58 UTC
33 upvotes, 1 direct replies
I’ve had no issues with Ally
Comment by Garlic_and_Onions at 09/08/2021 at 23:02 UTC
38 upvotes, 2 direct replies
Not a savings account but I-Bonds are a great place to park relatively short term $ right now--at least, much better than a CD. You have to keep them one year, and you have an interest penalty of 3 months if you cash them in before 5. Current rate is 3.54%. Fun fact: invented by Al Gore! They are benchmarked against inflation, so it's especially good right now when everything else is terrible.
Comment by lbklmn at 09/08/2021 at 21:53 UTC
14 upvotes, 1 direct replies
Check your local credit union. We found a 2% rate savings account there, I was floored. Closed my Marcus and moved over. Obviously YMMV. Marcus was totally adequate when that was the best rate I could find. Good luck!
Comment by Nellody at 10/08/2021 at 01:21 UTC
11 upvotes, 0 direct replies
I like One Finance, it's a checking account with 1% on $25k ($5k if you don't direct deposit with them) and 3% on their round ups savings account (10% of your direct deposit and debit card roundups).
Comment by sweswe17 at 09/08/2021 at 20:05 UTC
8 upvotes, 0 direct replies
I always use Marcus—nice app now and the best rates.
Comment by lmjg573128 at 09/08/2021 at 21:19 UTC
8 upvotes, 0 direct replies
We use Synchrony and have had no issues with it. Same thing with other commenters that the interest rates seem to be super low across the board right now, but works fine for our emergency fund.
Comment by sashkevon at 09/08/2021 at 19:53 UTC
7 upvotes, 1 direct replies
T-mobile money is at 1%, 4% for first 3k if you do 10 qualifying transactions
Comment by snarrkie at 09/08/2021 at 22:18 UTC
6 upvotes, 2 direct replies
I’m getting 3% through HMBradley, it’s solid so far.
Comment by ZettyGreen at 09/08/2021 at 22:24 UTC
8 upvotes, 0 direct replies
Alliant Credit Union and Ally Bank are consistently known for their "high" yields(currently around .5%). The ones that offer more than that tend to do so on a trial/temporary basis or do so for only a portion of your money. So you CAN find 3% yielding FDIC insured accounts, but it's guaranteed to not stay that way as soon as they have enough customers to meet their needs.
T-Mobile Money is perhaps the only rare outlier, having consistently "higher" yields, but they do have some rules around it(unfamiliar with their current rules).
So if you want to chase HIGH yield, you can, but you have to chase it, and meet all their weird rules of the day/month/year and constantly move $'s around. Otherwise you can just park it @ something like Alliant and buy I-Bonds(currently paying 3% or so last I checked) and not worry about chasing yield all the time.
Comment by moretacotrucks at 09/08/2021 at 22:41 UTC
8 upvotes, 3 direct replies
I do Yotta for $10K and ally for the rest. For yotta my realized APY are ranging from 1% to 2% plus it's fun!
Comment by margotiii at 10/08/2021 at 12:58 UTC
7 upvotes, 0 direct replies
I still use Ally, but it sounds like there are better options now. When I signed up, it was 2%, but now it’s sub 1%
Comment by algebragoddess at 09/08/2021 at 20:52 UTC
7 upvotes, 1 direct replies
I love Amex, great customer service.
Comment by Omelettedufromage14 at 10/08/2021 at 14:09 UTC
3 upvotes, 0 direct replies
i use marcus by goldman sachs which is currently at 0.5% rn
Comment by RamsGirl0207 at 09/08/2021 at 19:27 UTC
4 upvotes, 0 direct replies
Discover is slightly lower at .4% right now, but I have been very happy with them.
Comment by drbudro at 09/08/2021 at 23:47 UTC
2 upvotes, 1 direct replies
Does anyone here have personal experience with any of these?
Comment by mmrose1980 at 11/08/2021 at 13:05 UTC
2 upvotes, 0 direct replies
Check out our local credit union’s high yield checking accounts. I currently get 2.01% on the first $25K.
Comment by Aauntie at 10/08/2021 at 01:24 UTC
-11 upvotes, 3 direct replies
BlockFi and Celsius are crypto “banks” that currently pay around 8% on deposits. They connect directly to your bank account and convert your USD into an equivalent token (like GUSD or USDC). If you have a large amount in savings and are willing to try something new, I’d recommend putting a portion of your savings in one of those.
Comment by fe-fi-fo-throwaway at 09/08/2021 at 20:49 UTC
1 upvotes, 0 direct replies
What are you looking for with the HYSA; do you want the HYSA to be super easy at the expense of a little lower yield, or are you okay jumping through the some hoops to get more yield?
Doctor of Credit[1] has a page with a decent list of national, regional, and local HYSAs but you have to research what the accounts require you to do vs. what you are willing to do (per month/quarter, etc).