expiredgeorgerobert posted Apr 09, 2024 04:52 PM
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expiredgeorgerobert posted Apr 09, 2024 04:52 PM
My Banking Direct High Yield Savings Account: Earn Up To
($500 Minimum Deposit)5.55% APY
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Deal Details
My Banking Direct offers up to 5.55% APY when you open High Yield Savings Account with $500 minimum deposit.
Thanks to community member georgerobert for finding this deal.
Thanks to community member georgerobert for finding this deal.
Editor's Notes
Written by megakimcheelove | Staff- The Annual Percentage Yield (APY) is accurate as of 4/10/2024. Rates are variable and are subject to change without notice.
- The My Banking Direct High Yield Savings is a tiered rate account. The minimum balance to open the account is $500. If your daily balance is $50,000 or more, the APY is 5.55%. If your daily balance is between $10,000.00 and $49,999.99, the APY is 5.55% If your daily balance is between $1.00 and $9,999.99, the APY is 5.55%.
- My Banking Direct, a service of Flagstar Bank, N.A., reserves the right to change the rate at any time without notice. Fees could reduce earnings.
- My Banking Direct is a service of Flagstar Bank, N.A.
- Flagstar Bank, N.A. is FDIC insured.
- Other HYSA accounts to consider:
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About the Poster
Deal Details
Community Notes
About the Poster
My Banking Direct offers up to 5.55% APY when you open High Yield Savings Account with $500 minimum deposit.
Thanks to community member georgerobert for finding this deal.
Thanks to community member georgerobert for finding this deal.
Editor's Notes
Written by megakimcheelove | Staff- The Annual Percentage Yield (APY) is accurate as of 4/10/2024. Rates are variable and are subject to change without notice.
- The My Banking Direct High Yield Savings is a tiered rate account. The minimum balance to open the account is $500. If your daily balance is $50,000 or more, the APY is 5.55%. If your daily balance is between $10,000.00 and $49,999.99, the APY is 5.55% If your daily balance is between $1.00 and $9,999.99, the APY is 5.55%.
- My Banking Direct, a service of Flagstar Bank, N.A., reserves the right to change the rate at any time without notice. Fees could reduce earnings.
- My Banking Direct is a service of Flagstar Bank, N.A.
- Flagstar Bank, N.A. is FDIC insured.
- Other HYSA accounts to consider:
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Top Comments
https://www.mybankingdi
A: In the unlikely event of a bank failure, the FDIC responds in two capacities.
First, as the insurer of the bank's deposits, the FDIC pays insurance to depositors up to the insurance limit. Historically, the FDIC pays insurance within a few days after a bank closing, usually the next business day, by either 1) providing each depositor with a new account at another insured bank in an amount equal to the insured balance of their account at the failed bank, or 2) issuing a check to each depositor for the insured balance of their account at the failed bank.
https://www.depositacco
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Literally takes a few minutes to buy a T-Bill and understand the concept of buying them at different intervals so you constantly have maturing ones. The Treasury Direct site is super simple and you can place all your orders in 5min, and even set all your T-Bills to auto reinvest up to 2 years. Boom. Set and forget.
🤯 💰
The issue I have with all these high yield places is you spend your time setting up and getting into 1, then all of a sudden months down the line they keep dropping their rates not being competitive at all anymore.
So then you redo the process, open up at another best high yield place, get all your money into that new account, over and over and over. In the end you spend so much more time doing that and now you have 20 skeleton savings accounts all over the place. And come tax season, you get to enter all of them that gained you interest as separate entries. No fun. No good.
Save time. Save money (no State tax). Go with T-Bills.
If you were getting 1% extra or more than your current rate, then it starts to be worth chasing rates because you're hitting the $100 difference at $10K instead of $30K, but even then you have to consider how much money you'd actually be moving over.
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https://www.depositacco
If you're doing short term investments, basically anywhere that exceeds the rate on your I-Bonds is "okay". Just remember to cash out at the start of the month so the interest will have already compounded from prior month and you'll have the full new month to earn interest in a new account plus the least penalty for holding them less than 5 years, and also that you may pay taxes on that earned interest when you cash them out.
OTOH, if you're investing long term and have the newer 1.3% base rate, you might keep them as a hedge against inflation since you can never lose your principal investment on them.
Wasn't really looking into APRs that deeply 10+ years ago but noticed my "high" APR at Ally bank dropped enough where I was annoyed, then it happened again at Synchrony bank, I believe, where the APR was lower than market rate, so I had LOST money in the 6 or so months I had it in their savings...
Stopped after that lol
But I agree, even if your comment has an air of smugness to it.
I am considering opening a 23-month CD from Credit Human here in Texas, which pays a 5.2%APY.
With no state income tax, would there be any advantage a T bill would give over the CD?
I am considering opening a 23-month CD from Credit Human here in Texas, which pays a 5.2%APY.
With no state income tax, would there be any advantage a T bill would give over the CD?
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