The 6 BEST High Yield Savings Accounts of 2024
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- Опубліковано 12 чер 2024
- The 6 BEST High Yield Savings Accounts to start using today and earn up to 5.50% on your savings! Signing up should take less than 5-10 minutes and will earn much more money back than a traditional savings account like Chase, Wells Fargo, Bank of America, Etc.
Get what you deserve and not the big banks!!! - Enjoy!
🏦 SoFi Checking & Savings ($325 Cash Bonus): dannysully.link/SoFi
📄 Free Savings Account Mastersheet: dannysully.link/SavingsMaster...
🎥 High Yield Savings Accounts For Beginners • High Yield Savings Acc...
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⏰ Timestamps ⏰
00:00 Intro
01:06 1. Ally Bank
03:59 2. SoFi
05:55 3. Marcus By Goldman Sachs
06:56 4. UFB Direct
07:58 5. Capital One
09:20 6. Wealthfront
11:03 Outro
Why A High Yield Savings Account?
A High Yield Savings Account is a type of savings account where you can earn higher interest than one with a traditional bank. The accounts shown in this video all come with no monthly fees nor minimum deposit requirement, very liquid, have proven trust and high ratings from its users, and are all stated to be FDIC insured.
1. Ally Bank - Ally Bank's Online Savings Account has a great beginner friendly display that is commonly known for their bucket tool that displays your savings separately in a clean way. Ally's online savings offer a 4.35% yield.
2. SoFi - SoFi offers a checking and savings account together when you sign up. The company offers many features such as savings vaults and recurring transfers. SoFi is my primary high yield savings account. Additionally after you set up a direct deposit you will earn a 4.65% yield and you can earn up to a $325 cash sign up bonus.
🏦 SoFi Checking & Savings (Up To $325 Cash Bonus): dannysully.com/SoFi
3. Marcus By Goldman Sachs - The Marcus Online Savings account is backed by Goldman Sachs and offers a 4.50% yield. If you use my link above you can get a 5.50% yield for your first 3 months. This account is simple and convenient due to some of its display features.
💸 Marcus By Goldman Sachs (+1.00% APY): dannysully.com/Marcus
4. UFB Direct - The UFB Direct savings account is the highest flat yield you can earn of the accounts mentioned in this video. Although the platform has many basic features, you can earn a flat 5.25% interest and if you get their checking account and fulfill specific terms, you can earn an additional 0.2%.
5. Capital One - Capital One has a 360 Performance Savings Account that currently yields 4.30% and is known to be one of the largest banks that give out high yields. You can also link this to a checking account and have the ability to go to an in person branch location unlike many high yield savings accounts.
6. Wealthfront - This is considered a "cash account", which comes with the combined features of a checking and savings account. With the Wealthfront cash account, you can earn a 5.00% APY. You can also earn an extra 0.50% for your first 3 months using the link below.
💵 Wealthfront (+0.5% APY): dannysully.com/Wealthfront
This list is in no particular order.
Please let me know in the comments any questions you have!
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Some of the links in this description are affiliate links that I get a commission from. Any commission helps support my channel and is greatly appreciated!
Disclaimer: This content is for entertainment purposes only. The information provided in this video does not, and is not intended to, constitute legal, tax or financial advice; instead, all information, content, and materials available on this video and on this channel are for general informational purposes only. The presenter is not an attorney, accountant or financial advisor. Viewers of this video should contact their attorney, accountant or financial advisor to obtain advice with respect to any particular legal, tax or financial matter.
Do you have any of these accounts? If so, which one(s) and why - Enjoy!
Direct links mentioned in this video:
🏦 SoFi Checking & Savings (Up To $325 Cash Bonus): dannysully.com/SoFi
💸 Marcus By Goldman Sachs (+1.00% APY): dannysully.com/Marcus
💵 Wealthfront (+0.5% APY): dannysully.com/Wealthfront
🎥 High Yield Savings Accounts For Beginners ua-cam.com/video/UCjP87-u74Q/v-deo.html
🐷 Free Savings Account Mastersheet: moneytalkmonday.ck.page/savings-account-mastersheet
I just binged all your videos the past two days. Thank you so much for all this valuable information! Subscribed and going to keep tabs on this channel going forward.
Wow that means a ton!! I appreciate you very much, thank you! I’ll continue to do my best!👌
After watching your video on HYSA for beginners I switched my savings over to one and have made $157 since then! It’s sad that with inflation so high, if we don’t pay attention to our money management we are basically losing value in our accounts. Thanks for the videos. They are informative, concise and well done.
That is great! Thank you for sharing, that means a lot to me to hear that. Thank you for following my content!
Which bank ?
@@magno408_1 it’s a Capital One 360 Performance Savings Account.
I deposited $7000 in July of 2023.
Facts,I’ve been telling People we’re losing value on our money so if they’re not going to invest at least leave money on High Yield Savings Accounts that have good interest but the Person I told is too scared to move that money to another Bank because he’s been with his Bank for Decades even though they only offer 0.01% interest rates🤦🏽♂️instead of get 5% or higher and knowing he’s definitely got a good amount saved that he could get possibly get 1K a month or more if he listens to me about High Yield Savings Account
Girl can u share the bank
Hey Danny, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
Great video!! Thanks
Thank you! I’m glad to hear that :)
What about the Raisin banking network? They have some high APY accounts...
You are so hepful.. Thanks a lot🙏🏽👍🏽
I’m glad to hear that! Thanks for your kind words!
@@DannySully I have used your advice for my Roth Ira and index funds
Syncrony bank has a very good rate too, i have my hysa.
Thank you so much for educating us how to save our money. 🙏
Of course! And thank you for your kind words!
What about Raisin?
Hey bro do we have notify IRS about the gains on our HYSA?
Yes, a 1099-INT form will be created for you!
@@DannySully thanks dude
Hi,
Do I still earn interest in my Sofi HYSA on the amount that is deposited so far if the direct deposits stop?
It will reduce to 2.5% apy
Almost went to chase lol gonna keep them for checkings tho 😊
Nice! I love using Chase for their credit cards!
What’s your opinion on the moomoo 8.1% for new accounts?
what are the eligibility requirements with moomoo?
What about CIT Bank? I was sure it was your video that convinced me last year and still paying over 5%.
Great question! And thanks for noticing! I do like CIT bank and yes I have done so in a previous video last year. For this video I first wanted to narrow it down to only a few options. For an account meant for the highest flat yield possible, currently UFB direct offers 5.25% and CIT Bank is 5.05%. I wanted to select only one high flat yield account for this video. Nothing wrong with CIT at all, I think it is a great resource to utilize. UFB Direct currently is just giving out a higher flat yield. Thanks for the comment and for watching my content, it means a lot to me!
Thoughts on discover ?
Also a solid one to consider joining!
Stay away for now with capital one possibly buying them
I just signed up for Ally but they are now at 4.25%. Was there a Federal Reserve rate cut since you made this video?
The fed March meeting noted rates stayed unchanged but there will be more cuts this year. This was only a few days ago they met. Great question! Banks like Ally can change their rates however and whenever they want though.
@@DannySully Ah ok. So they probably lowered their rate based on expectations of future rates.
What are your thoughts on the AMEX high yield savings account?
Solid account! It was in my considerations but there are so many, I wanted to narrow it down to 6.
Can you cover Health Savings Accounts?
I for sure will add that to my list, thank you!
What about American Express savings account?
That one is solid as well!
I will try this
This video on the best high yield savings accounts of 2024 is a real game-changer! 💰💼 It's incredibly informative, breaking down the top options for maximizing savings in the current financial landscape. With interest rates constantly fluctuating, having this kind of up-to-date guidance is invaluable for making smart financial decisions. Whether you're saving for a rainy day or working towards a big goal, these accounts offer a fantastic way to grow your money while keeping it safe. Definitely a must-watch for anyone looking to optimize their savings strategy!
Thank you for this comment, it means a lot!
checkout the SOFI 2% IRA Boost as well.
Yes that is neat they are doing that as well!
Your referral link doesn’t work, send me your link!
Hey, which one exactly is it that doesn’t work? Thank you for letting me know!
Bask Bank is 5.10%
But how long have these HYSA been at these high interest rates ?
They have risen significantly over the past 2 years as the fed has hiked rates. They will still give out higher yields than traditional ones mentioned like Chase, Wells Fargo, etc even in times of low rates.
Sofi is annoying to open.
That's true, they ask me basic question when I applied and they also send me a message to gather more my personal information
FFS it’s pronounced Al-lie bank. No credibility with this content creator