Money market accounts are high -
yield accounts offered by banks and credit unions that are like a hybrid of a savings account and a checking account.
Not exact matches
(Online banks are able to
offer higher -
yielding accounts online because they come with less overhead expenses than traditional bank
accounts.)
Very few institutions, barring high
yield savings
accounts at online banks and some local community banks or credit unions, are managing to
offer competitive rates.
One - year CDs aren't
offering much more than high -
yield savings
accounts now.
aren't
offering much more than high -
yield savings
accounts now.
Tax risks While municipal bonds can
offer attractive effective
yields and can be a way to generate tax - free income, they may not be right for investors in every tax bracket or for every type of
account.
Barclays, an online division of the global financial services company,
offers U.S. customers a high -
yield savings
account accessible through a streamlined website.
Savings
accounts, like a high -
yield savings
account from AmEx,
offer a number of advantages that keeping your money in a piggy bank or under the mattress simply won't provide — most notably, interest.
And for taxable
accounts with balances over $ 500,000, the robo - advisor
offers «advanced indexing,» where it weights the stocks in a portfolio based on various factors, including low volatility and high dividend
yield, to further power potential returns, all for the same advisory fee that applies to all
accounts.
10 - year AA muni bonds
offer yields above those of U.S. Treasuries, even before
accounting for their tax advantage (source: Bloomberg).
Ally Bank
offers online savings, money market
accounts, high -
yield certificates of deposit, and interest checking.
If you want to earn interest on your money at a higher rate than what the
Yield Pledge ® Checking
account offers after the intro
offer expires, you might find a money market
account to be useful.
In addition to paying a typically high annual percentage
yield, online savings
accounts offer a host of convenient features and benefits.
An annualized
yield that is calculated by dividing the net investment income earned by the fund over the most recent 30 - day period by the current maximum
offering price that does not
account for expense ratio waivers.
But if Santander's fees aren't a stumbling block and you like the bank's
offerings, it's a decent choice for basic checking and savings as well as high -
yield money market
accounts.
Some years ago, Washington Mutual was known for online banking products such as a savings
account that
offered a high
yield for linking with a -LSB-...]
The trade - off is these usually
offer higher
yields than regular savings
accounts but more security than a 401 (k) or the stock market.
Online banks
offer high
yield savings
accounts and 24/7 access.
But now you can find high -
yield savings
accounts that
offer much better interest rates than their traditional counterparts.
Money market
accounts offer higher
yields because they are linked to low - risk bonds and other relatively liquid instruments.
Compared to traditional banks, the best online banks usually
offer better annual percentage
yields (APYs) or interest rates on
account balances as well as lower fees.
Considering that the best savings
accounts are
offering 1.35 percent
yields now, according to
A traditional savings
account may be your first choice, but a high -
yield savings
account or money - market
account could
offer better interest rates.
Money market funds are essentially ultra-short-term bond funds that
offer investors liquidity — as in quick access to their cash — and a small
yield that's typically more attractive than merely parking cash in a bank savings
account.
Besides the bonus rate, EverBank's
Yield Pledge promises to keep your interest rate within the top 5 % of similar
accounts offered at major banks.
CIT Bank's CIT Premier High
Yield Savings
account earns 1.55 % APY, a rate that's almost as high as the best
offer currently available.
In addition to high
yield savings
accounts, Sallie Mae also
offers the SmartyPig
account that's described as a «free FDIC - insured online piggy bank that helps you save for long - and short - term goals.»
Pros: Typically
offer a higher
yield than rates available for saving
accounts or money - market instruments.
Aspiration
offers an interest - bearing checking
account with a good annual percentage
yield and free access to all ATMs.
This online offshoot of the global financial services company
offers customers in the United States a high -
yield savings
account accessible through a streamlined website.
It's an online
account offering no fees, no minimum, and a high -
yield 1.0 % APY for balances of over $ 10,000.
However, when you add up the amount you could save over time, especially if you count the interest you are losing if you invested that money into a free high -
yield savings
account (like what is
offered at BankMobile) then you get the real picture.
The Synchrony Bank High -
Yield Savings
account offers a market - leading interest rate with no monthly fee.
Online savings
accounts are able to
offer a significantly higher
yield than brick - and - mortar banks and checking
accounts is because you're limited to six withdrawals per month from an online savings
account; this is federal law that every online savings bank must adhere to.
SPECIAL
OFFER: Earn $ 100 cash back for opening a Premier High
Yield Savings
Account by using the coupon code FALL17.
Goldman Sachs Bank USA
offers a high -
yield savings
account with one of top savings rates and no monthly fee.
A money market
account is one that
offers a
yield based on the interest rates seen in the money markets.
They
offer higher
yields than interest bearing cash
accounts while still
offering some safety, since they mature within shorter time periods relative to other bond variants, and have prices that are less affected by interest rate fluctuations.
ING also
offer up high -
yield checking and savings
accounts.
The CIT Premier High
Yield Savings
Account currently
offers 1.55 % — a figure nearly equal to the Dollar Savings
Account below.
We
offer a variety of award - winning financial products, from high
yield savings
accounts to money market
accounts.
If you want a low - balance
account with a temporary boost to the interest rate, the EverBank Yield Pledge Checking Account offers new customers 1.21 % APY during the firs
account with a temporary boost to the interest rate, the EverBank
Yield Pledge Checking
Account offers new customers 1.21 % APY during the firs
Account offers new customers 1.21 % APY during the first year.
The good news: These days, certificates of deposit
offer significantly higher
yields than most savings
accounts.
Many high -
yield online savings
accounts offer a slate of valuable perks, including a high annual percentage
yield (APY) and low fees.
The High -
Yield Savings
Account by Sallie Mae currently
offers a 1.35 % Annual Percentage
Yield (APY)-- five times the national average, according to Bankrate.com's October 2009 Passbook & Statement Savings Study, — and an easy - to - get - started no minimum balance requirement.
The good news: While traditional savings
accounts offer very little interest these days, some banks
offer higher -
yielding savings options.
In choosing the best high -
yield savings
accounts, we looked for the highest interest rates
offered at both traditional and online - only banks.
Among brick - and - mortar banks, Capital One
offers the best available rate for a high -
yield checking
account, along with an introductory APY boost of 0.40 % for the first 12 months.
CIT Bank's High -
Yield Savings
Account offers some of the top rates in the industry, at 1.35 percent APY.
Discover
offers high
yield savings
accounts and Certificates of Deposit (CDs).