I found the MOST PROFITABLE Savings Accounts (It’s not Robinhood)
I found the MOST PROFITABLE Savings Accounts (It’s not Robinhood) – Latest News Today
After reading all the interest about Robinhood’s 3% Checking Account, I did some research and found the BEST Savings accounts that offer the highest interest…FDIC insured 😉 Enjoy! Add me on Snapchat/Instagram: GPStephan
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First Bank: Ally Bank
As of mid December 2018, they offer a 2% annual return on your money in their online savings account. And this is with no strings attached…no account minimums, no maximums, no need to make direct deposit every month to quality, no conditions to meet…no waiting list of over 700,000 to join…it’s just open up an account, put your money in, and enjoy a 2% return!
Second Bank: American Express Savings
They offer the same 2% return just like Ally Bank does. I’ve been an American Express customer since 2012 and AMEX has been nothing but amazing. Their accounts also have no fees, no minimums, and a pretty decent way to get 2% return if you’re already an AMEX customer. Oh, and it’s FDIC insured 😉
Third Bank: Capital One 360
They also offer a no fee account that offers 2% interest…but they’re not quite as good because to get the 2%, you need to keep a minimum of $10,000 in your account. So most likely, the other two options are a little better.
Fourth Bank: Marcus by Goldman Sachs
Right now they offer a slightly better rate than the previous 3, at 2.05% interest! No account minimums and no requirements to meet!
Fifth Bank: Synchrony Bank.
Pretty much the same as Marcus by Goldman Sachs and they also offer the same 2.05%!
Sixth Bank: PNC Bank
They offer 2.35% interest. That’s pretty much the highest that I’ve found on a savings account without any account minimum, without any fees, or without any weird deposit requirements, without any waiting lists, and best of all…while still having FDIC insurance!
There are several other nation wide banks that offer 2.4%+ interest…although all of them had bad reviews, so I didn’t feel comfortable listing them.
In terms of other banks offering OVER 3% to match or even beat Robinhood…yes, that does exist. There are several other REGIONAL BANKS that offer 3% AND HIGHER if you meet their requirements. The full list can be seen here:
So while Robinhood seems like the BEST option in terms of no fees, no requirements, and no minimums to make 3%, it MIGHT not be worth the risk if they don’t have SIPC insurance confirmed.
And this video is really about just giving you some other ideas and options besides Robinhood. Even though you’ll make a bit less than 3%, the result is pretty negligible..the difference of .65% on $20,000 is only $10.83 per MONTH…and for that price, I think getting a better bank with better customer service is totally worth the price. So I hope this video was able to give you some solid options to think of!
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