PSA - You may be able to get more yield with your savings account. (1 Viewer)

[titusbramble]

This is also the sort of thing I'm looking at, although obv in a different country - my current bank has got a regular saver that I had about five years ago at 5%, but ignored it when the rate dropped to <1% and didn't re-up after that one year, as frankly I have a better ROI sports betting. I now see it's at 7% so will be maxing that out, although it's limited to dropping £300/mth into it. Seem to be plenty of high 3 to low 4 percent options where I can shove a couple of grand into it, leave it for a year and come back with enough for a FBG sub.

 

[The Z Machine]

Primis Bank now offering 5%

I think that's only valid for race car drivers named Jerry.

 

[The Z Machine]

This is also the sort of thing I'm looking at, although obv in a different country - my current bank has got a regular saver that I had about five years ago at 5%, but ignored it when the rate dropped to <1% and didn't re-up after that one year, as frankly I have a better ROI sports betting. I now see it's at 7% so will be maxing that out, although it's limited to dropping £300/mth into it. Seem to be plenty of high 3 to low 4 percent options where I can shove a couple of grand into it, leave it for a year and come back with enough for a FBG sub.

What's the insurance situation for banks like this in the UK? In the US we have the FDIC which will backstop depositors up to $250k I think if the bank becomes insolvent.

 

[titusbramble]

This is also the sort of thing I'm looking at, although obv in a different country - my current bank has got a regular saver that I had about five years ago at 5%, but ignored it when the rate dropped to <1% and didn't re-up after that one year, as frankly I have a better ROI sports betting. I now see it's at 7% so will be maxing that out, although it's limited to dropping £300/mth into it. Seem to be plenty of high 3 to low 4 percent options where I can shove a couple of grand into it, leave it for a year and come back with enough for a FBG sub.

What's the insurance situation for banks like this in the UK? In the US we have the FDIC which will backstop depositors up to $250k I think if the bank becomes insolvent.

It's guaranteed up to £85k/bank

 

[Desert_Power]

I was able to change my CapitalOne 360 savings account (0.30% APY) to a 360 PERFORMANCE savings account (3.60% APY) with just a little online work. I don't have a ton of cash in there so not really worth changing banks. Kindof pissed that the PLAIN account still had such a low APY. Thanks for bumping this thread to get me to look at what I was getting.

Yeah. Most banks use this type of grandfathering strategy to take advantage of sleepy money/folks who are not paying attention. Cap1 has been annoying of late with it and I have like 5 different accounts there now to chase the higher rate.

 

[fruity pebbles]

6% 18 month CD. Very limited eligibility, have to live in the San Diego area but perhaps a sign of things to come.
6% CD

 

[Senor Schmutzig]

I was able to change my CapitalOne 360 savings account (0.30% APY) to a 360 PERFORMANCE savings account (3.60% APY) with just a little online work. I don't have a ton of cash in there so not really worth changing banks. Kindof pissed that the PLAIN account still had such a low APY. Thanks for bumping this thread to get me to look at what I was getting.

Just moved some money into the same account. I have had an account at Capital One for a long time but didn't have any real money in it. Had to open a 360 checking account versus the regular savings account I had there to get the 3.4% they are offering on it now. Better than the .01% I was getting with my FCU.

 

[3C's]

Opened (mostly) an account with CIT. 4.75% savings if you deposit $5k or more.

 

[fruity pebbles]

With treasury bond yields down sharply, I’m liking bank CDs right now. That 18-24 month range at around 5% interest is a nice place to park cash imo.

 

[gianmarco]

Opened (mostly) an account with CIT. 4.75% savings if you deposit $5k or more.

Thanks for the heads up.. That's a new account. Just switched from my other getting 4.5% at CIT.

 

[Desert_Power]

With treasury bond yields down sharply, I’m liking bank CDs right now. That 18-24 month range at around 5% interest is a nice place to park cash imo.

CD spreads have really widened out recently as banks try to raise deposits. Good opportunities if you want to lock up the cash.

 

[pollardsvision]

I was able to change my CapitalOne 360 savings account (0.30% APY) to a 360 PERFORMANCE savings account (3.60% APY) with just a little online work. I don't have a ton of cash in there so not really worth changing banks. Kindof pissed that the PLAIN account still had such a low APY. Thanks for bumping this thread to get me to look at what I was getting.

Yeah. Most banks use this type of grandfathering strategy to take advantage of sleepy money/folks who are not paying attention. Cap1 has been annoying of late with it and I have like 5 different accounts there now to chase the higher rate.

I had heard about this on a podcast, particularly with Capital One. Seems a little irritating.

 

[Captain Cranks]

All the online/regional banks I've joined have been inching my rate up month after month. Meanwhile, the big guys continue to hold the line at less than 0.50%.

 

[Keerock]

Also... so as to not put all my eggs in one basket... I opened an UFB Direct Preferred Savings account paying 5.02%

 

[Steeler]

I'm currently at Discover Online Bank but their rate is down to 3.75. I found this link and Zynlo is at 5% but I've never heard of them before. Seems weird to give them 50K when I found them by google search. Anyone using them? Or any recommendations at 5%?

 

[MAC_32]

I'm currently at Discover Online Bank but their rate is down to 3.75. I found this link and Zynlo is at 5% but I've never heard of them before. Seems weird to give them 50K when I found them by google search. Anyone using them? Or any recommendations at 5%?

Bask is still at 4.5, but it's been falling monthly