The 5 Best High Yield Savings Accounts Of 2023
The 5 Best High Yield Savings Accounts to start using today and earn up to 5% on your savings! Signing up should take less than 5-10 minutes and will put you in the right direction for your financial future. Get what you deserve and not the big banks - Enjoy!
🎥 High Yield Savings Accounts For Beginners • High Yield Savings Accounts For Begin...
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⏰ Timestamps ⏰
00:00 Intro
01:27 SoFi
04:06 Capital One
05:10 Ally Bank
07:06 Marcus By Goldman Sachs
08:17 CIT Bank
09:32 Conclusion
Why A High Yield Savings Account?
A High Yield Savings Account is in simple terms a savings account where you can earn higher interest than one with a traditional bank. These accounts shown all come with no monthly fees nor minimum deposit requirement besides one (that is $100), and are all stated to be FDIC insured as of the recording of this video.
1. SoFi - SoFi offers a checking and savings account together when you sign up. The company offers many features including their savings vaults, financial insights, and many more. I have recently joined SoFi and have also began using their investing platform as well. Their savings account after you set up a direct deposit will allow you to gain a 4.4% yield while they offer a nice sign up bonus as well from using the link mentioned above.
2. Capital One - Capital One has a 360 Performance Savings Account that currently yields 4.30% and is known to be one of the largest banks that give out high yields. You can also link this to a checking account and have the ability to go to an in person branch location unlike many high yield savings accounts.
3. Ally Bank - Ally Bank's Online Savings Account has a great beginner friendly display that is commonly known for their bucket tool that displays your savings separately in a clean way. Ally's online savings offer a 4.00% yield and like all of the accounts i'm showing you, come at no monthly fees.
4. Marcus By Goldman Sachs - The Marcus Online Savings account is backed by Goldman Sachs and offers a 4.15% yield. If you use my link above you can get a 5.15% yield for your first 3 months. This account is simple and convenient due to some of its display features.
5. CIT Bank (Not, Citi Bank) - CIT Bank has a Savings Connect and a Platinum Savings Account where the first grants you a 4.65% APY and the Platinum Savings 5.05% currently. This bank is known for giving out high flat rates to users but the cost is there are no features on their platform. You can need a required minimum deposit of $100 and for the Platinum Savings, at least a balance of $5,000 to earn the 5.05% yield.
This list is in no particular order.
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Disclaimer: Certain links on this website lead to products or services that may earn Danny Sully an affiliate commission or referral bonus. As a member of an affiliate sales network, Danny Sully is compensated for directing traffic to partner websites, which may affect the placement or visibility of some products on this site. The information provided in this video is accurate as of its posting date, though some of the offers mentioned may no longer be active.
This content is for entertainment only and does not constitute legal, tax, or financial advice. It is for general informational purposes. The presenter is not a licensed professional. Viewers should consult their attorney, accountant, or financial advisor for advice on specific legal, tax, or financial issues.
