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« Last edited by yesitsme on January 15, 2023, 09:48:19 AM »

Author Topic: Highest interest savings account  (Read 32830 times)

Offline pointer

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Re: Highest interest savings account
« Reply #40 on: June 13, 2021, 03:24:44 PM »
Kabbage amex offering 1 pc
Though officially for business
Kabbage is at 1.10%.

T-Mobile has the highest rate for personal, 1% (4% up to $3,000 for T-Mobile customers with some other requirements).
https://www.t-mobilemoney.com/en/home.html

Offline chayie

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Re: Highest interest savings account
« Reply #41 on: November 15, 2021, 01:23:15 PM »
anyone currently signed up with Kabbage? I got an offer and wondering what it's like

Offline Spoon

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Re: Highest interest savings account
« Reply #42 on: November 15, 2021, 02:45:57 PM »
anyone currently signed up with Kabbage? I got an offer and wondering what it's like

Would not recommend. They’ve been “verifying” me for the past few months.

Offline yos9694

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Re: Highest interest savings account
« Reply #43 on: November 15, 2021, 06:16:19 PM »
Deposit USD to Gemini and convert to Gemini Dollars. 8% APY

Offline Euclid

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Re: Highest interest savings account
« Reply #44 on: November 15, 2021, 06:22:39 PM »
Deposit USD to Gemini and convert to Gemini Dollars. 8% APY
I'd assume if OP is looking for a high interest *bank* they want FDIC protection.

Offline pointer

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Offline sillypainter

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Re: Highest interest savings account
« Reply #46 on: November 06, 2022, 01:40:35 AM »
Robinhood Gold now offers 3.75% interest in your uninvested cash without locking in your money.

Beats any CD or any high yielding savings account.

Offline Shauly101

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Re: Highest interest savings account
« Reply #47 on: November 06, 2022, 09:27:52 AM »
E*trade is at 3

Offline Shaya E

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Re: Highest interest savings account
« Reply #48 on: November 06, 2022, 09:28:42 AM »
Robinhood Gold now offers 3.75% interest in your uninvested cash without locking in your money.

Beats any CD or any high yielding savings account.
Costs $5 a month though...

Offline Dan

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Re: Highest interest savings account
« Reply #49 on: November 06, 2022, 09:36:11 AM »
Costs $5 a month though...
And it's not a real bank.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Shaya E

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Re: Highest interest savings account
« Reply #50 on: November 06, 2022, 09:38:22 AM »
And it's not a real bank.
True. But it is FDIC insured (supposedly).

Offline Aerial Dag

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Re: Highest interest savings account
« Reply #51 on: November 06, 2022, 11:13:26 AM »
Something to consider are the 1 month US treasury bills. You can expect around 3.7% with the added benefit of only paying federal taxes on the interest. Worse comes to worst if you absolutely need the money before the maturity date you can always sell on the highly liquid open market.

Offline sillypainter

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Re: Highest interest savings account
« Reply #52 on: November 06, 2022, 11:14:50 AM »
And it's not a real bank.

-1 You are assigned to one of their banks with FDIC insurance.

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Re: Highest interest savings account
« Reply #53 on: November 06, 2022, 11:23:56 AM »
Something to consider are the 1 month US treasury bills. You can expect around 3.7% with the added benefit of only paying federal taxes on the interest. Worse comes to worst if you absolutely need the money before the maturity date you can always sell on the highly liquid open market.
Latest auctions.
4 week - 3.68
8 weeks - 3.95
13 weeks - 4.17
17 weeks - 4.40
Only on DDF does 24/6 mean 24/5/half/half

Offline Aerial Dag

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Re: Highest interest savings account
« Reply #54 on: November 06, 2022, 11:35:50 AM »
Latest auctions.
4 week - 3.68
8 weeks - 3.95
13 weeks - 4.17
17 weeks - 4.40
Yup. Rates are higher vs bank accounts if you consider not having to pay state and city taxes on the interest. Free to buy with some brokerage accounts like Schwab so you don't have to deal with TreasuryDirect. Hold to maturity and you get a risk free place to put your money without a 250k cap. IMHO everyone should be considering these at the moment.

Offline Dan

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Re: Highest interest savings account
« Reply #55 on: November 06, 2022, 12:04:28 PM »
How do you know what the auction price will be?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Aerial Dag

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Re: Highest interest savings account
« Reply #56 on: November 06, 2022, 12:16:55 PM »
My understanding is that on treasurydirect you can place your own bid but on the brokerage accounts you’ll take the market rate. The 4 week bills are auctioned every week so it shouldn’t be too far off from last weeks rate unless something big happens. You can also look at the daily market rates to get a pretty good approximation:
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&field_tdr_date_value_month=202211

Online CountValentine

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Re: Highest interest savings account
« Reply #57 on: November 06, 2022, 12:26:30 PM »
My understanding is that on treasurydirect you can place your own bid but on the brokerage accounts you’ll take the market rate. The 4 week bills are auctioned every week so it shouldn’t be too far off from last weeks rate unless something big happens. You can also look at the daily market rates to get a pretty good approximation:
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates&field_tdr_date_value_month=202211
What you happen to know how the auto rollover works? You won't lose any days of interest when it matures?
Only on DDF does 24/6 mean 24/5/half/half

Offline nucheiner

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Re: Highest interest savings account
« Reply #58 on: November 06, 2022, 04:16:26 PM »
What you happen to know how the auto rollover works? You won't lose any days of interest when it matures?
I had the same concern with this route. You may get a slightly higher rate and no state tax, but if you lose the hasmadah, over the long term those missed days will easily eat away on the gains. Most of us need something that's more of a "set it and forget it".

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Re: Highest interest savings account
« Reply #59 on: November 06, 2022, 04:38:03 PM »
I had the same concern with this route. You may get a slightly higher rate and no state tax, but if you lose the hasmadah, over the long term those missed days will easily eat away on the gains. Most of us need something that's more of a "set it and forget it".
It seems with Schwab you will lose a week of interest. With Fidelity and Treasury Direct you do not lose any days of interest. Maybe someone here can tell us this is true.
https://www.bogleheads.org/forum/viewtopic.php?t=387959
Only on DDF does 24/6 mean 24/5/half/half