Banklady Credit Doctor

Category: High Yield

  • Synchrony Bank Optimizer Plus with Perks and 1.05% APY High Yield Savings

    synchronySynchrony Bank’s Optimizer Plus High Yield Savings account is offering 1.05% APY for all balances with interest rate compounded daily. Synchrony Bank formerly GE Capital Bank has 60 million customer accounts and $35 billion in deposits such as CDs, high yield savings accounts, money market accounts, and IRA CDs. They offer one of the highest interest savings accounts with no monthly fee as long as you keep a $30 minimum balance.

    Optimizer Plus banking not only has one of the highest interest rates on the market but gives consumers secure access to manage their accounts such as transaction history, transferring funds and paying bills. The current rate at time of this post is 1.05% APY and is available Nationwide.
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  • Earn 6% APY + $20 Bonus on up to $5,000

    Union_PlusThese two piggies are battling for the highest interest rate under $5,000 but why not have them both!? This is not your normal banking situation but sometimes you have to do some tricks to get a higher interest and that is why we are looking closer at savings with Mango and Union Plus. To get this extremely high interest rate (compared to market) paid on your savings up to $5,000 you would of course need direct deposit or able to transfer via ACH such as Paypal or from another bank such as Etrade.

    There are other cards with savings accounts that are similar such as Control Card (5% APY + $20 bonus) and Union plus.  You would need a prepaid card and in the case of Union Plus you need to sign-up for their organization. It’s free to sign-up and anyone can become a member so it’s not too big an obstacle.  With this Union Plus account you can earn up to 5.10% APY with the Savings Account insured by the FDIC. You can open an account with as little as $1 and make up to 6 transfers out each month. You also have the convenience of checking your balance and transferring money from your mobile phone. (more…)

  • Rates Going Up for Savings Accounts

    I learned a tough lesson and trusted a financial adviser at my local Chase by investing into Municipal Bonds with the majority of my retirement money. I mostly freaked out about the interest rates going down and it was tempting to do this because it is a way to help to keep my taxes lower. The only problem is that its not making any money. I have lost over $2,000 in these municipal bonds so far and I have to keep the money in the municipal funds for over a year or get a 1% penalty.

    As I was listening to someone who is on commission for bad advice I am seeing how much money I could be making in rising savings account rates. HSBC Direct has raised their rate to 3.50% until August 1, and it may even go higher when that promo ends. The first rate increase for nine months happens over at WTDirect from 3.19 to 3.26 APY.

    WaMu is also grabbing the attention of customers looking for higher interest rates with the 5.00% Savings Success offer. Walk into your local bank and see what they are offering and search online. If your current bank is still punishing you with low interest from the fed rate cuts then transfer it over to a bank that is keeping up with the competition.