5 ms·
Ah, you meant $25k as a limit because they give rewards and use a high rate for low balances as a technique to get new accounts (and the fees they get from you
by jonknee 8y ago
Ah, you meant $25k as a limit because they give rewards and use a high rate for low balances as a technique to get new accounts (and the fees they get from you using the account). Still, I only see one offering above 3% and they pay 0.15% for anything over $25k.
I have a savings account at Marcus and it's 1.7% without any minimum, a high $1M max and no goofy rules to jump through.
- axaxs 8y agoCorrect, and it's location dependent. Typically, there are no fees associated with these accounts. Many have multiple accounts at the same institution, or spread. From my minimal research, it seems you should be able to say, have 25K in each Consumers Credit Union, and Heritage bank, and effectively earn about 4% on $50k (NOTE: I'm not endorsing either of these institutions, do your own research). Though with requirements attached for each, which may or may not be worth the opportunity cost to you. The 1.6-1.7% rate seems to be the going best for no requirements involved.