I don't share that information, but I'd suggest you check sites like Bankrate or other comparison sites (warning, they are all affiliate sites) to check out savings rates.
Suffice to say, I went from something like .01% APY to considerably more than .01%.
I feel somewhat confused; my current Wells Fargo saving account APY is 0.01% where did I go wrong? Seems like I might be shifting my money to a new home.
Edit: In the very least it will educate many uninformed folks like myself they are getting shafted at their current banks.
Double edit: Thank you for all the helpful links and information!
A high yield savings with Discover has a 4.3% APY right now. That's higher than both the mortgage I took out in 2016 and the loan I took out a few years later for new windows on said house.
Not that I don't believe you, but you mind linking some? the best I could find was wealthfront cash, which is isn't a savings account but is giving 4.05% apy. Which is pretty good, but inflation's up at like 6.5%, so it's still a bit of a net loss
The thing is that most savings accounts at big banks are closer to 0.15% than 1.5%. I think my Bank of America account made something like 42 cents last year.
Yeah, I know, interest rate used to be good. I used to get 5% on my emigrant direct savings account. Now it's 1%, and I don't know of anything higher (for a money market account anywys)
I have 4% on a normal savings account at Ally. Assuming the current trend of rate hikes continues, I should make a few hundred bucks in interest this year, which is nice!
I live overseas currently so switching isn't really feasible at the moment so it's nice I have a bank that is generally on top of providing good returns for their customers.
More generally, bankrate.com offers comparison shopping for banks, and includes online-only high yield savings. It has a bunch listed at 1.9%, and a few dozen at 1.6% or better:
What saving account rates have you been able to find lately? My bank in CA offered a checking account with 5% interest back in 2007, and it's only down now to 3.5%. Most people I talk to say these are very high rates. Can I do better?
Suffice to say, I went from something like .01% APY to considerably more than .01%.
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