Time Plus News

Breaking News, Latest News, World News, Headlines and Videos

You can earn 4.85% APY with this savings account now

Many of today’s top high-yield accounts earn more than 10 times the national average

Getty Images/iStockphoto

Today’s Top high yield savings rates They are more than years. You can earn up to 4.00% or even 4.50% on some savings accounts – more than 10 times the current national average rate. Regular savings account.

A good high-yield savings account will offer you a competitive rate compared to other savings options today, as well as minimum balance requirements, account transfer options, security features and a fee schedule that works for your savings goals.

While each of these details may depend on your personal preferences and financial situation, choosing the best rate can be a numbers game. To help you get started, we’re highlighting one Best rate available right now. With this high 4.85% APY, you can add hundreds of dollars to your savings balance over time.

Compare savings account rates here to see how much more you could earn.

How to Earn 4.85% APY Now

CIT Bank’s Platinum Savings Account is one of the best savings rate options available today at 4.85% APY.

To earn that rate, you must maintain a balance of at least $5,000. Otherwise, the APY drops to just 0.25%. There are no maintenance fees for the account, but you must deposit at least $100 upon opening. A CIT Online Bank, so you’ll have the option of transferring your funds via electronic transfer, mailed check, or wire. Your deposits are insured up to FDIC limits.

To put that interest rate into perspective, say you open the account with a minimum balance of $5,000. After one year at the same 4.85% rate, you’ll earn about $242.50 from your savings for a new total balance of $5,242.50. On the other hand, if you leave $5,000 sitting in a regular savings account earning the national average of 0.40% APY, you’ll earn just $20 a year for a total of $5,020.

CIT Bank also has another high-income account you can consider if you don’t have a $5,000 balance. With Savings Connect, you’ll earn a 4.60% APY with an initial deposit of just $100, with no monthly fees.

CIT Bank is one of the many banks offering attractive high-yield accounts. Explore more options here now!

Consider other high-yield savings accounts

CIT can have Platinum Savings Rate One of the best available today, But this is not the only competitive account. Here are a few High Yield Savings Account Likewise with higher rates that can help you Maximize your savings. Like CIT Bank’s savings account, each of these is FDIC-insured up to a maximum of $250,000:

Basque Bank: 4.75% APY

Bask offers another top-earning savings account today with a 4.75% APY. There is no minimum balance requirement, as long as you fund your account within 15 days of account opening. There are no monthly fees. You can transfer money to your account using electronic transfer from another bank account, wire transfer or mobile check deposit.

Bread Savings: 4.65% APY

The high-yield savings account from Bread Savings earns 4.65% APY. You pay no monthly maintenance fees and only a $100 minimum deposit is required to open. You can deposit money from another account by electronic transfer, mobile check deposit, or wire.

Citizen Access: 4.50% APY

You can earn 4.50% APY on balances over $0.01 with the Citizens Access High-Yield Savings Account. There are no monthly fees for maintaining the account. When you want to transfer money in or out, you can do so by using an electronic transfer from another bank account or by mailing a check.

Bottom line

to select The best high-yield savings account for you A few can come down to the details, but one is to maximize your balance Great interest rates Probably at the top of your list.

With CIT Bank’s Platinum Savings Account, you can get one of the highest rates available right now with 4.85% APY. Like other savings accounts, this APY is also a variable rate. So if rates rise in the future, you could earn more — even if you already have an open account.

If you already have the minimum required balance and are looking for the highest rate, you may want to add CIT to your list. But before you decide, be sure to compare more of today’s best savings account rates to find the one that best suits your goals.

MoneyWatch: Managing Your Money

more and more

Source link