High Yield Savings

[nextbigthing]

Where do you have your high yield savings? Looking for highest rate possible while still a good FDIC insured back.

I see LendingClub and Synchrony have high rates, any experience?

I'd rather not have a direct deposit requirement and I'm not wanting CDs. Just a short term no risk option for a home down payment

Thanks!

[melmel48]

Currently Ally and Capital One 360.

[Susie]

FNBO Direct and Capital One 360. Both accounts are long standing. You might be able to do better today. I've used others in the past, including CIBC, but changing banks is a pain to chase tenths of a point.

[sadlebred]

I'd also check with your local credit union.

[whiskeytails]

Lake Michigan Credit Union, but only on the first $15,000

[mrsd2006]

Amex High Yield savings account. Currently at 1.25% and FDIC up to $250K

www.nerdwallet.com/best/banking/high-yield-online-savings-accounts

[nextbigthing]

I ended up with LendingClub 2.07% if anyone's interested!

CapitalOne and CIT also had great rates

[magma]

Aug 2, 2022 18:11:25 GMT -5 nextbigthing said:

I ended up with LendingClub 2.07% if anyone's interested!

CapitalOne and CIT also had great rates

THANK YOU I have been procrastinating forever on opening a HYSA, choosing which one, so I went with Lending Club as well. Great reviews and rate. Thanks again!!

[mrsjrd23]

Aug 2, 2022 18:11:25 GMT -5 nextbigthing said:

I ended up with LendingClub 2.07% if anyone's interested!

CapitalOne and CIT also had great rates

Did you have an issue opening it at all?  Both my husband and I tried and got emails that said we were not approved . We both got the same email from them. 

We regret to inform you that we could not open your LendingClub Bank account at this time. This could be due to any number of reasons, ranging from ID verification to missing or inaccurate information.

We called and we were told they do not know why it wasn't able to be opened and just said to try again in 24 hours...which we did and when we put in our emails to try again, it says we can't becuase our email is already in use but we can't do anything to use that email to log in or anything.  Weird. 

[memenee]

Hi, I have a similar need, like the OP, to park some money somewhere for about a year. I already have a Capital One high yield savings and was considering a CD from them since it’s higher rate of return. Dumb question since I’ve never owned a cd, but….towards the end of the 1 year term will they reach out to me and ask what I want to do or do I need to stay on top of the maturation date to ensure it doesn’t roll over it not another year?. Additionally, (another dumb ?) but if the 1 year rate is 3% apr and I put $50k in then I earn $1500 at the end of the term? Thanks.