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Marcus + SoFi ♥️
Here is a link for an additional boost on Marcus
I’m inviting you to receive a cash bonus when you open a Marcus high-yield Online Savings Account. Terms apply. https://www.marcus.com/share/BRE-V8N-18LQ
SoFi
Hi! 👋 Use my link to get up to $325 in cash bonuses with SoFi
You'll get a $25 bonus when you open a SoFi Checking and Savings account, and either $50 or $300 when you set up eligible direct deposit of $1,000 or more. Terms apply. https://www.sofi.com/invite/money?gcp=8e1f127c-4f75-4c50-ad33-ae1a9286baa9&isAliasGcp=false
Marcus
I second Marcus. My husband opened a SoFi HYSA and likes it too - the rates seem to be a little higher than Marcus sometimes.
I use Synchrony and have for years. It may not always have the best rates but it's reliable and easy to navigate.
I just park cash in Fidelity brokerage and set it to be in SPAXX which is short term money market. Same yields as the online “high yield” providers but you can buy anything else within that account when you want to (vs having to transfer it out). I use the interest payments to buy stocks then too
Mentor
https://www.nerdwallet.com/m/banking/standout-high-yield-savings-products
Sofi, vanguard, capital one, Barclays, and Amex are all pretty big companies. If you have an affinity towards one, go for it.
I use capital one. Have had them for 15 years now. They’re rarely the best rate, but they’re often only 0.1% or 0.2% behind the best, and I’m ok with that. I also have a credit card from them, so I like seeing multiple accounts in one place.
Sofi 4%
Checked just the other day and Marcus/Synchrony have better current rates (3.65%) vs SoFi (3.3%) though SoFi does has a 6 month temporary new customer offer to bump to 4.0% for 6 months.
I personally use synchrony. Not worth it to for me to move for a temporary bump of 0.35%
Yes you right. 3.30% is the rate after the temp bump at SOFi. However, they do offer a card with unlimited 5% cash back on groceries. It is $10/mo. But Ill easy make thousands with the cashback.
I currently use SoFi but I recently noticed Ally is higher than SoFi.
Check local credit unions. One in my area is offering 4%.
Mentor
Who has the “highest” rate will often change on a weekly basis. I wouldn’t chase the highest rate, as long as it’s within a few pts of the other guys.
Also, some HYSA’s might have deposit minimums to get the best rates, so be sure to check that
Subject Expert
Along with HYSA consider money market funds at major discount brokerages. They have some important advantages.
Wealthfront. You can track your NW and set savings goals all within their app.
Happy to share my referral.