High Interest Savings Accounts

[GreenMachineX]

We've been using USAA for 20 years, great service, but have recently realized that other banks are offering 4 to 5% interest on savings accounts! Who do you use? Anyone to watch out for? I've looked into SoFi, but don't want to have to have direct deposit to keep a high interest rate.

 

[rascal14]

I use Discover for my main savings accounts and have no complaints.

I use all “online” banks, which makes getting cash or a cashiers check a little more difficult, so I opened a Chase savings as well. Super easy to transfer money between them and Chase has plenty of physical locations to get a check if needed, so you’re not mailing it.

 

[GreenMachineX]

I use Discover for my main savings accounts and have no complaints.

I use all “online” banks, which makes getting cash or a cashiers check a little more difficult, so I opened a Chase savings as well. Super easy to transfer money between them and Chase has plenty of physical locations to get a check if needed, so you’re not mailing it.

What's the apr at Discover?

 

[rascal14]

What's the apr at Discover?

4.35%, it’s not the best out there but I’m not really worried about transferring everything to gain another percentage point right now. Ally usually has the highest if I remember correctly.

 

[Dustin07]

Robinhood Gold is paying 4.9% on cash right now
We have some cash in another 'traditional' bank as well at the same rate, or 4.89% or something like that as well.

 

[GreenMachineX]

4.35%, it’s not the best out there but I’m not really worried about transferring everything to gain another percentage point right now. Ally usually has the highest if I remember correctly.

That's great. Thanks.

 

[Beau]

I use Goldman Sachs and Sallie Mae. I believe both are at about 4.4%. FWIW - I use online accounts (I have about 10) the way Dave Ramsey uses "envelopes", meaning I have monthly allocations that I transfer from my home bank into various designated accounts.