Best and Trusted 5 High Yield Savings Accounts to Build Wealth in 2024-2025
➡️ AMEX Savings:
➡️ UFB Direct Savings:
➡️ Marcus Savings:
➡️ Ally Bank Savings:
➡️ SoFi Savings:
I've worked in finance for several years and here are the six best highy old savings accounts in 2024 in no particular order first is the American Express high yield savings account which currently offers a 4.25% apy and is FDI insured up to $250,000 it has no minimum balance requirements and no monthly fees but the best thing about this account is you get access to amx's customer service team 24/7 if you need any help I personally use the AMX poly credit card and I can confidently say that AMX has one of the
best customer service experiences that I've ever experienced when it comes to a large financial institution but what many people don't know is that you can actually supercharge your AMX highle savings account by combining it with the AMX rewards checking account it offers a 1% apy which is one of the highest rates for a checking account that I've ever seen their checking account will also give you access to a debit card and whenever you buy stuff with the card you'll earn AMX membership Reward Points
which you can then exchange for travel so if you find yourself constantly calling customer service for help with your accounts or you're just really bored and you want someone to talk to then the AMX High yold savings account might be for you I'll leave some links below if you want to check out the AMX account or any of the other accounts mentioned in this video next is a high yield savings account that offers one of the highest yields that I have ever seen the ufb direct savings account offers a 5.25% apy which in itself is absolutely
amazing but I'll even show you how you can get that number up to 5.45% apy I've been using ufb direct for a while now and it's a really great option if you're just looking for the highest interest rate trade that you can get for your money ufb direct is FDIC insured up to $250,000 and has no minimum bounds requirements and no monthly fees but my absolute favorite thing about ufb is that it delivers exactly what you're looking for a super high interest rate with no extra fluff or a necessary
features so if you open up their high yield saves and account you'll automatically get access to their 5.25% apy but if you follow this four-step process you can add on an additional 0.20% apy step one when you sign up for the ufb savings account or ask if you want to open up a ufb freedom checking account which is what you'll need to take advantage of the extra 20% Which is actually split into three different tiers step two to get the extra 05% increase rate you need to set up direct deposits that total $5,000 monthly step
three to get the extra 10% rate you need to maintain a minimum balance of $10,000 and step four to get the extra 15% rate you need to make 10 approved debit transactions per statement cycle after you complete the above step you'll get the additional 20% rate which turns your account into a 5.
45% high old savings account but I will say maintaining the four-step process does require a bit of effort and it might not be worth it for you for just an extra 20% but the great thing is you don't need to do every single step for instance if you have an extra $10,000 in one of your accounts right now you can just move it to ufb and take advantage of step three and just get that extra 10% rate but even if you don't do any of these steps you'll still get at the 5.
25% rate which is one of the highest rates available today and I want to bring something really important up near the beginning of this video because many people don't realize what they're missing out on by using really big Banks like Chase Wells Fargo or Bank of America the problem with using these National Banks is that they offer horrendous rates as low as 0.
1% for the savings accounts and here's what the difference in just a few percentage points looks like so if you deposit $10,000 in a Chase savings account at a 0 1% interest rate which which is what it is you'd only earn $1 in interest by the end of the year but if you put $10,000 into a high yield savings account like ufb direct at 5.
45% interest rate you'd earn $545 by the end of the year that's a545 times difference for just putting your money in a different account and one of my very first sources of passive income was actually opening a high old savings account and it continues to pay me hundreds of dollars in interest every single month without me doing anything so I'll go ahead and leave some links below if you want to check out ufb direct or any of the other accounts in this video next is the highi savings account with Goldman sex one of the
biggest investment banks in the United States their High savings account is called Marcus and they offer a 4.40% apy and is FDD insured up to $250,000 it has no monthly fees or any minimum balance requirements but the feature that distinguishes it from every other H savings account in this video is the offer same day transfers for amounts up to $100,000 that allows you to start auring interest with your money immediately depending on your needs this feature can be really helpful because with most other high yield savings accounts you do
have to wait a day or a few days to complete the money transfer before you can have access to your funds now for me and I think most people would agree I personally don't mind waiting a few days to access my money but again it really depends on your personal situation similar to AMX Marcus doesn't really offer the highest rate out of all the accounts mentioned in this video but it does make for this with its instant transfer feature next is a high yield savings account that offers the most features that I've ever seen Alli bank's
high yield savings account offers a 4.20% apy and is FDI ensured up to $250,000 they don't have any minimum balance requirements or any monthly fees and the best thing about Alli Bank are the three specific features that are baked inside of their High yold savings accounts that you might find really helpful first allies Banks saving buckets can help you reach your saving goals faster and easier basically it allows you to designate different amounts of money for different purposes inside of your account with saving
buckets so for instance if you have $10,000 in your account you can create different buckets and easily split up that $110,000 towards different saving goals like you can put $5,000 towards an emergency fund $3,000 towards vacations and $2,000 for a wedding next roundups can help you save more money without you even trying if you pair your ally High savings account with an ally spending account then Ally can track all the spending you do with a debit card and then round up your purchases to the nearest dollar for example if you spend
$70.73 at a clothing store allly will round it up to $71 and that extra 28 doesn't go to that clothing store but rather Ally will move it to your savings account automatically once the Roundup total hits $5 next surprise savings is another great feature to help you save more money without even trying basically Ally will analyze your income and your spending patterns from your checking account which by the way doesn't have to be an ally account and then just based on your patterns Ally will identify small safe amounts of money that could
be earning you more money if they were put into your high yield savings accounts and then once Ally identifies that they'll automatically move that money into your high old savings account and don't worry they're not going to move massive and massive amounts of money that you might need they'll only make transfers in amounts under $100 and no more than three times a week and again just similar to AMX and Marcus Alli doesn't offer the highest rates from all the accounts in this video but they do make up for it with plenty of
saving features next Sofi checking and saving Sofi basically combines their accounts together so you automatically sign up for both a checking and a savings account they offer a 4.6% apy for any money you keep in their high yield savings account and a 5% apy for money kept in their high yield checking account similar to the other accounts Sofi doesn't have any account fees or minimum bounds requirements but they do offer FDIC Insurance up to $2 million whereas all the other accounts on this list only offer FD Insurance up to
$250,000 and just depending on how much money you personally have FD Insurance up to 250k or up to 2 million might not really matter but the biggest difference with sofi's highle savings account is that they're the only account in this video that's offering a $300 signup bonus but before you jump for joy there are two requirements that you need to meet in order to get that full $300 first you need to set up direct deposits and according to Sofi a direct deposit is a deposit into your account from a
payroll benefits provider or government agency meaning deposits from like just doing a PayPal transfer or a ven mode transfer or even a private wi transfer doesn't qualify on the bright side setting up a direct deposit is pretty simple you just provide your employer with your account number and your routing number and then you should be good to go once you set up direct deposit you'll get full access to a bunch of different features that I'll talk about later in the video you'll also get to take advantage of that 4.6%
apy in the high yield savings account and this is really important because if you don't set up direct deposits then your high yield savings account will only offer 1.2% apy the second requirement you need to complete to get that $300 signup bonus is you need to receive a certain amount of money in the form of direct deposits within a 25-day window according to Sofi the terms for the $300 signup bonus is based on different tiers which means if your direct deposits totals between $1,000 and $4,999 within that 25-day window then
you're going to get that $50 sign up bonus but if you receive direct deposits thring $5,000 or more then you get to take advantage of that full $300 sign up bonus now Sofi also offers three additional really cool features that can help you manage your money better first if you set up direct deposits like we mentioned earlier you can get your paychecks up to 2 days earlier next Sofi offers this feature called vaults that can help you reach your saving goals faster and easier basically it lets you set up different vaults for different
saving goals which is pretty similar to the saving bucket feature that I mentioned with the Allied Bank account basically you can have different vaults for different saving goals like if you're saving for an emergency fund a vacation fund or for a down deposit for a house next you also get a debit card with sofi's checking account which allows you to do two really cool things first you can take money out from over 55,000 ATMs without needing to pay any additional fees and second you can actually have the ability to earn cash
back by swiping your debit card which isn't a common thing that everyone offers and the cash back can be as high as 15% on certain retailers the Sofi saving and checking account is a great option if you already have a steady direct deposit and you're not necessarily looking for the highest rate for your money and even if you don't have $5,000 or more in direct deposits in order to qualify for that full $300 signup bonus you can still most likely get the $50 signup bonus which is better than nothing and you can take advantage
of the 4.6% rate and again I'll share some links below if you want to check out Sofi or any of the other accounts in this video next is the Laurel Road highi savings account which offers a 5. 15% apy there's no monthly deposit requirements or any monthly fees and it's insured up to $250,000 similar to ufb direct Laurel roads offers exactly what you're looking for a high interest rate account with no extra fluff or unnecessary features but the most unique thing about Laurel roads is that they offer a bunch of other
Financial Service features that you might find beneficial for instance if you currently have student loans they offer student loan forgiveness consultations and student loan refinancing options lurel road is a good option if you're looking for just a really high rate for your money which leads me to something that you've got to start accepting and it's that even if you're trying your hardest to make the most out of your money sometimes you might still feel like you're not doing it enough and that might be because you
don't know how the 1% manage their money click here to find out what the wealthy are doing so you can start immediately
0 মন্তব্যসমূহ