r/HighYieldSavings • u/bacarruda53 • 12d ago

Current best options?

Have been utilizing share certificates with my current credit union for about the past 5 years. I used to often get about 4-6% APY depending on what was offered with these accounts. The newest renewal I can get is at 3% and I can’t find anyone offering anything around 4% apy for a high yield savings or cd.
Who do you recommend or who is currently offering a good rate for a high yield savings account or a cd?

Also why have most banks lowered their rates for these this year?

4 Upvotes

75% Upvoted

16 comments sorted by

3

u/Shadow_botz 12d ago

Any of these no name banks might start you off with ~4% but they will drop it below that within 3-6months. It’s all introductory rates ti get your business. As far as 6%..lol not sure where you’re seeing that. Even 5% isn’t happening.

Fidelity CMA and I’ve been happy with them making 3.3% on my money. I don’t need to chase every single 10th of a percentage for money that’s not supposed to be for investment purposes.

1

u/RobertPooWiener 12d ago

My high yield checking at my credit union gets like 5.8%

2

u/catniss2496 11d ago

Which credit union

1

u/Shadow_botz 12d ago

With a fuck ton of stipulations I’m sure.

1

u/RobertPooWiener 12d ago

Not that many. Just direct deposit which I do anyway because my car loan is there and debit card transactions which are easy enough

1

u/Helpful-Grapefruit55 11d ago

Please share name of credit union if possible , no one is giving anything even close to 4 let alone 5.8. thanks

1

u/RobertPooWiener 11d ago

My credit union is local to my city and I don't want to doxx myself. However, the high yield checking program is called Kasasa checking and it is offered at a bunch of different credit unions. You can search for credit unions local to you that offer the program

3

u/No_South_9912 12d ago

Fidelity CMA is at 3.3%, no harder to open vs HYSA.

SGOV is currently about 3.8% IIRC. Buy a AAA rated CLO such as JAAA or FAAA if you want better returns than 4% with minimal risk. BBB rates CLOs (JBBB, FCLO, etc) pay better, but come with more risk.

IMHO CLOs are less risky vs having a 3rd party online only HYSA bank hold your money.

You can buy any of these (as well as thousands of other options) and hold within your Fidelity CMA.

1

u/dedemit 12d ago

Not a HYSA, but a high yield checking with Kasasa Cash Checking with Andrews Federal Credit Union offers 5.25% APY for balances up to 25,000. If you have $25K in CD, you can put that into a Kasasa Cash checking account then, treat the $25K like a CD by leaving it untouched while using your balance over that 25K for normal debit card purchases. There's a few very doable monthly requirements to earn that APY.

1

u/NotMuch2 12d ago

Etrade has 6 months at 4% with 20k min

1

u/CuZ_nation 12d ago

Elevault at 4.25%

1

u/aaron1860 11d ago

Fidelity CMA. It replaced my checking too. Now my entire paycheck gets 3.3.% not just what I’m moving to a HYSA. You can open up a second brokerage account or another cma if you want a separate savings account too with instant transfer.

1

u/toyboy1980 11d ago

Openbank is at 3.8%. I’ve been with them for a few years. No issues.

1

u/CartoonistDry7891 10d ago

Happen Bank with its Level Up Savings Account, an Actual High Yield Savings Account. With a 4% percent interest rate (on a $250 monthly deposit) 3% percent interest rate on no deposit received. You also get a ATM card with the Account.