High interest checking and savings accounts give customers an edge when they would like to save money. Such customers may want to put away extra funds for college or for a home purchase. They may want to save money for an important vacation. High interest accounts can give them the opportunity to do just that. Several banks offer accounts with interest rates that are above what people call today’s “normal” interest rate. The average APY is rather low at 0.17%. However, some banking institutions offer high-yield accounts with APYs as high as 4 percent. The following is a list of the two top providers of high-interest checking and savings accounts:
Coulee Bank is an institution in La Crosse, Wisconsin that offers an above average APY. The APY for the bank’s Kansasa Cash Checking account is 2.55 percent, which is higher than the APY of many competitors. Unfortunately, the account is limited to those who live in Wisconsin, Minnesota and Iowa. Those who qualify for an account can reap its many benefits. The checking account includes direct deposit, bill pay and more.
Synchrony Bank offers an online high-yield optimizer plus account with a 1 percent APY. The bank account offers a wealth of services such as insurance for up to $250,000, online access, free ATM card and a low monthly service charge. The monthly service charge is $5. However, the customer can avoid paying it if he or she keeps balance in the account that is less than $30.
Barclay’s online banking system is extremely accommodating for consumers all around the world. Its high-yield online savings account offers benefits such as no monthly fee and no minimum balance. The bank account offers a set of tools that can help a consumer to save money, as well. Furthermore, the account offers 24/7 funds access and outside banking transfers. Barclay’s goal is to guide each banking customer to financial stability. The high-yield account has an APY of 1 percent.
Bank 5 Connect
Bank 5 Connect offers a high-yield savings account that has a .90 APY. Features of the bank account include free mobile banking, free banking statements and tailored overdraft protection. Additionally, the bank account offers FDIC insurance so that account holders can feel safe about their assets.
Ally Bank has a high-yield online savings account that offers a .99 percent APY. Some of the main benefits of the account are 24/7 online account access, no monthly maintenance fees, no minimum balance, echeck deposit and federal insurance and protection. Users can transfer funds to and from any of their Ally Bank accounts. Ally Bank has been providing banking products to the masses since 2008.
Capital One 360
The Capital One 360 line of online accounts are popular in today’s industry. Many consumers use the 360 accounts because of their convenience. The 360 account comes with a wide variety of benefits such as the .75 percent APY. Account holders will be able to enjoy a bank account that does not have minimum fees, monthly balances or any other complications. Account holders can enjoy the security in knowing that the FDIC secures their funds for up to $250,000. Opening an account takes less than five minutes, and a consumer can be well on his or her way to saving money.
Many additional high-yield accounts exist, but the ones on the list are amazing choices. An interested person can contact any of the facilities on the list to inquire about starting a new account with the firm. The person should choose an account that best fits his or her needs.