BEST High Yield Savings Accounts in 2024!
ฝัง
- เผยแพร่เมื่อ 6 มิ.ย. 2024
- I'm spilling the beans on the high-yield savings accounts (HYSA) that have helped me earn a whopping $7,682 in interest alone in the past year. Stick around until the end because I'll be revealing my absolute favorite HYSA pick! 🌟
Chapters:
00:00 Intro
00:44 Best High Yield Savings Accounts in 2024
01:44 Sinking Funds
02:10 Raisin Bank
03:15 UFB Direct
04:01 Synchrony Bank
05:38 Marcus Bank
06:23 Discover Bank
06:56 CIT Bank
08:02 Ally Bank
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It's quite simple why rates are climbing with rising imports and falling exports, the FED is obviously to be blamed for banking crisis. Something will eventually break if they keep the quantitative tightening and higher interest rates. Is this really a good time to have some savings in stocks?
first austerity, then brexit, now widespread bank failures. .always do your own research & speak to a license advisor before thinking about putting your money into these crazy markets
Exactly, most youtubers said the market would be fine few months back, but it's been a major downturn. Luckily, since the rona-outbreak in 2020, I've avoided the drawback of trial and error by simply following professional guidance. I'm semi-retd and work only 7.5 hours weekly, with nearly $1m ROI after subsequent investments to date.
this is incredible! how can I vet your advisor, mind sharing info, if you please?
Finding financial advisors like Sonya lee Mitchell who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
I love Ally. One thing to mention.. you would NOT make less money if your money is split between multiple accounts assuming all the accounts have the same interest rate.
Get a HYSA for a emergency fund and then put the rest of the money in treasury. Tbills have higher interest and you don’t have to pay local state tax.
Awesome video. I think this is an area most people overlook since rates have been so low for so long and the big banks haven't adjusted their savings rates.
I love Barclays, 4.35% and so easy to use :). Member since 2019.
Thanks for the info! 👍Plus, I went ahead and got your kid's book too. We're getting our 4 year old started early!
I opened a HYS with Ally after watching one of your videos! Love the bucket feature! Use this for all our sinking funds.
Love it!!
Same! I switched because of this video. I love it.
@@DebtFreeMillennials You earned over 7K in interest in a year?? You would have to have over 150K in the Bank to make that happen. Most young people don't have that much money. If you do, then congrats.
I have Marcus for a while and I love it. They do have the buckets too if you want to put your savings in different categories.
Just closed mine. They financially support Israel. Goldman Sachs’s has been publicly doing so since 2016ish . Enough of our taxes fund genocide. No thanks for me!
Hello. I'm a new subscriber. I find your videos so far to be simple and easy to understand. I would like to try your budget toolkit but when i try to access it an error appears, any idea why? Thanks for the videos.
I've been using Betterment and LOVE the cash returns. My end of year goal is to figure out how I can strategize where allocations are to create high passive returns monthly so I can know I have a buffer if the economy is shitty (as we all have experienced lately). I'd actually LOVE to have you do a video comparing the pros and cons of keeping a traditional 401k or moving your money into on of these HYSA vehicles. Currently 401k aren't awesome and I've been strongly wondering whether to switch it up strictly from a rate return standpoint. Especially since the HYSAs are also compounding returns. Thank you!
Debt free and 135k in retirement and savings at 33 is a blessing. Hysa is pretty good too lol
Good stuff man, Debt free as well now just stackin money at 29
you won't always be debt-free. Try as best you can. Drive a Toyota, and don't touch your retirement. Imaging what you'll have in the next 30 years.
😂😂😂😂 cap
Tryna get like you man🙌🏿🙌🏿🙌🏿🙌🏿
7k!? How much money did u put in?
Wealthfront 5%
Laurel Road 5%
Varo 5% on up to 5000
had ally for a year now, loving it! clean interface but has all the functions i need. makes savings fun. I have nothing to sell, no affiliate link. just honest opinion.
Thank you for this video. When you have HYSA, do you have taxes? if yes, how much? thanks again.
I’ve got Marcus ❤
Citizens access is my pick. 4.5% for the last year or so.
I use Ally, and I'm obsessed with the buckets! I also have a hysa with Alliant, but it's only getting 3.1% so I'm going to move my money out. Loving your videos :)
Do you know about IUL’s?
What are your thoughts on Betterment's Cash Reserve account?
SoFi and Wealthfront ?
Dbit card options? Direct deposit required ?
One of my favorite things about Marcus is the boosted 1% you get from being referred or referring a new customer. 3 months at 5.5% instead of 4.5% I haven’t been able to beat it anywhere else
I have a Vanguard Cash Plus account that currently paying 4.7%. My daughter and son-in-law bank with Ally and really like it.
I have tried lot of high yield savings and I always go back to Ally Bank. Tried SOFI, but have decided to come back to Ally as my online bank. I do not have to worry about setting up a direct deposit in order to get the high rate in the savings, which you do with SOFI.
I don't disagree, but you get that interest on your checking as well, which you don't with ally. You literally just have to direct deposit $1 to get the higher amount, and most businesses that you play with your direct deposit enough that you could easily do that.
I totally agree with your choice of Ally Savings😂😂
Very informative, i love Ally🥰
I have Marcus. The same day transfers is amazing
Just closed mine. They financially support Israel. Goldman Sachs’s has been publicly doing so since 2016ish . Enough of our taxes fund genocide. No thanks for me!
LOVE same-day transfers.
Capital one 360 is the best. I have alot of accounts 😊 and I love them
Why
Agreed. I have tried a bunch of these banks and keep coming back to Cap One 360.
I LOVE my ally HYSA! and you can set amount and date of completion goals for the buckets which is so helpful with staying on track. It'll show you what percentage you're at towards your goal. So helpful!
Have you heard about IUL’s?
CIT Bank is Great!! They have two saving accounts with 4.65% and 5.05%.
Hi! What can you say about BANNER BANK. Thanks
Does Ally automatically distribute funds into each monthly deposit made to the HYSA?
Please clarify how this works. It must be connected to an actual physical bank in order to access or deposit money?
Thank you !
Barclay’s gives a decent APY. The only issue I’m aware of is that they put a hold on any incoming deposits for 5 business days (not sure if any other banks do that). Withdrawals, seems to be no issue though.
What do you think of Sharonview CU in North Carolina?
What are your thoughts on Fidelity's high savings account at 5% as well as wealth front?
How much did you invest to make that much of interest?
Love Raisin HYSA
PNC Bank has a good HYSA at 4.65%. I still like the idea of being able to visit a brick and mortar bank if needed.
You sure that’s not a CD that will lock up your money? I have a Wells Fargo account too. Walked into the branch once in 6 years.
@@jasonk446 Good point. I have been dawdling on High Yield banking as brick and mortar gives me some kind of security, yet I don't even remember the last time I entered a bank.
I love ally.
Thanks, I will be looking into Ally bank!
Look up WealthFront.. cash account, no minimum , same day transfers 5.5%.
Capital one is good. U can deposit cash at CVS and Walgreens. Ally bank. The buckets are the best smoking. No fees on both.
Yes, that's one of the features I love about Capital One 360 the deposit locations.
What about SOFI bank? I've heard that one is also good?
I have a Capital One account and I like it except for 1 huge flaw they have. There is no 2-factor authentication to log in. I want a bank that uses an authenticator app. Much more secure than other 2-factor methods. For this reason alone, I am looking for a different high yield savings account.
There is a scam going around where the scammers hijack your phone and then use the 2 factor authentication to access your accounts. Please look it up. Today the 2 factor authentication is very problematic. I opened accounts at a bank that offer lock down. no one cam transfer money in or out unless you authorize it. Check it out
Can I use ally whilst in the uk?
Wealthfront and Barclays
I love this video🙏 Thank you so much!
You're so welcome!
I opened an Ally account and love it!
Look up WealthFront
Hi what do you think of Ever Bank ?
I just opened an account with Capital on January 1st 2024 because of there 4.35% interest rate on their savings account and the no minimum balance. I opened three accounts with them: an emergency fund, holiday savings and their checking account. My goal to have $10,000 saved for my emergency fund, open another savings account and call it my Future Savings Account for either a car, laptop computer or etc., and later on, open another savings account for Vacation.
Do they have same day transfers?
@@MarcoDior
Capital One has Zelle when it comes to same day transfers from person to person that also have a Zelle app.
CIT Platinum Savings account has 5.05% apy with $5,000 minimum as well.
I think people don’t mention this because of the 5k deposit. I will be using this myself soon
Love the video. Was doing research on the Money Market account for UFB Direct and I saw a different APY. Can you send me the link to the 5.25% you saw?
Its on UFB website
I use PNC which currently has a 4.6 interest rate
Me too I have PNC & Ally
Not to offend but I like to see people get the best rate and quality. Anyone not currently over 5% you need to change your bank. Bask bank is 5.10% no strings or fees/minimums. Vio is at.5.30% no strings attached. Much better than 4.35%. I use Bask currently.
Yes, recently moved money from Affirm to Bask!!
I use Ally savings, money market, checking, and investment accounts. Love that company. However, I park my emergency fund in Marcus. I do this because I’d be too tempted to mess with it if I saw it on a regular basis.
I've worked with several coaching clients who use Marcus and have great things to say!
I’m a Capital One user but I do agree Ally is great.
Oh and one side note, THANK YOU for not mentioning SoFi. Not a fan of there’s.
I'm not a fan of SoFi either!
May I ask why? Just curious!
The thumbnail is misleading because you don't give the breakdown of the $7.6k. The HYS are good to know but most I've already covered. All the best.
The $7k+ interest was earned across my HYSAs. I have extremely high balances in Ally which resulted in a higher interest payout.
It's good to have about 6 months of total expenses in these accounts. I would recommed all other savings to go into stocks/ETFs to maximize returns
have high yield with amx (currently 4.3% daily compound). it’s cool, but was wondering about bask bank. do you (or anybody else) know anything about them?!?!
American express is another 4.35% account and if you also have their card, then it's all accessible from the same login.
I have had this HYSA with Amex for 3-4 years now. I recently opened a rewards checking account which has no monthly fees, minimums or required direct deposits. Not my primary checking acc but it does add some convenience.
I am an Amex member and is considering their hysa; how do you like it?
Been using Amex HYSA at 4.35% so far so good, no minimum deposit, no fees, been enjoying my “passive income” dividends each month, and yes you can access your money and transfer it to other banks anytime!
Do it@@dowhatiwanttruthseeker4440
What is a sinking fund?
I have a HYSA with BOA for 4.17%. It was a special promotional offer. Minimum new deposit of $50k was required.
Oh hell no
@@hellaloud9224the fees will cancel out the interest rate . Don’t worry
Ally bank is 4.35%
All others don’t require minimum deposit and offer more interest
I won't bank with BOA even if they gave me 6%....lol
What do you think about PNC Bank?
What about Upgrade Bank?
I have American Express high yield savings account and I have a Discover savings account
FNBO is who I use.
About to open with VIO today
What do you think about betterment? They had a 5.55% no fee hysa last sept. If I want to put up to 50k, do you think it is safe to put all in one hysa or split between more for safety?
Definitely split
Split
CIT for a couple of years. No problems at all. Transfer money in and out without any issues.
They consistently catch my eye each year I do these review videos. Might be time to work with them!
Milli bank is 5.50%
I have Raisin! They now have a high yield acct at 5.32
they don't, because they aren't a bank or credit union. Raisin has program banks and credit unions, so the rate is offered by the program financial institution through Raisin. The rates are also variable.
Wells Fargo was doing a 4.6% for a one year term on their savings account!
You have to put in 5k on the CD for that.
This all sounds really great but when you have no idea HOW to go about doing it or anyone to help you, it doesn’t matter how much Money one would make does it😏
Bread Savings 5.15%
I like Amex saving. Super fast transfer between my bank accounts.
Same here!
Same here
Vio Bank is 5.30% APY
Can any obe from any country infest in these banks?
Sounds like a lot of money to have in a savings account. A s&p index fund would have paid you about 25% last year
Wow: An interest earning of $7682 in 7 weeks of 2024. Assuming you get an average of 4.60%, your savings $7682*(52/7)*(1/0.046), thus, you have over $1.24 million in savings. Go Girl!!
Within 1.24mil just do ETFs earn up to 12% a year
Financial freedom is key 🔑
Hi does navy federal have this???
Everbank it used to be TIIA
You didn’t talk about sofi or wealthfront!?
Ally bank is the best. Its the consistency for me
BMO Alto online has 5.10 rate
How about Wealth front ?
Thoughts on wealthfront?
unless you have oodles of cash exceeding your insured limits at any given bank, there is no reason to use a fintech aggregator like wealthfront, Raisin, betterment, etc.
FNBO Direct 5.15%
Donna sent me😊
Just moved 50k to Amex high yield savings the other day from my BofA savings. Was a platinum tier for two years with BofA and earned a laughable $21.64 in interest.
Like you: BofA “platinum.” Moved a lot of money over to raisin last summer when it was 5.25 (?)% and it just keeps going up. Each time the rates change, I get an email notification.
Added a big check at Xmas time and deposited first into BofA. The teller wanted to know what I was going to do with the money. Huh? None of his business! But I told him I was going to move it to raisin as soon as it cleared. His eyebrows went up when I told him the interest rate. It did take a few days to clear both BofA and then raisin, so the same day stuff is just a dream for me. Meanwhile, my interest earnings are super exciting! Take THAT, BofA!
Same,I was Platinum Tier but only earned $11 which is a joke so I moved all that money to High Interest Rate Bank,I feel like an idiot after all these years,In trying to tell a friend to do the same thing but he said he’s been with BOA for Decades,I guess its the Status thing and not knowing how much BOA is ripping him off,I say maybe keep BOA for quick ATM Cash for convenience but nothing more and have it linked to External Bank if you already have Direct Deposit through them and don’t want to set up Direct Deposit through another Bank because of the hassle
Amex is great
That is disappointing. But, you've moved on and nothing to look back.
Another one in Bask Bank 5 10%
That mean You have a capital near $177,000 at your saving accaunt? Not bad. Only don't stop next 25 years. And You will have (payment for 25-th year*12) capital.
I have hy checking at 7% at I think credit union
Webull
5%
But no same day transfer
SoFi with 4.60 %
curious why you didnt mention M1? I'm getting 5% APY there and have been for the last couple years. 🤔
seems like you're not a fan of fees. their M1 Plus membership fee is $3 a month now. so worth it for the amount I have in there. 😅
yeah fees can be a turn off. i guess you just have to do the math yourself and see if its worth it. 5% apy sounds awesome though
Between American Express Savings and my Credit Union CD I have gotten over $10,000 in interest last year.
Mostly coming from your credit union CD I suppose...lol
@@josephmgomez3921yes. CD at 5.25% and American Express 4.35%.
What about Capital One?
Better
Is this 4.35% a year?
Bask Bank should be on this list.
5.1% interest is nice!!
Amex 4.35