Alliant Credit Union, one of the top 10 largest US credit unions by assets, has teamed up with Suze Orman to promote their new Ultimate Opportunity Savings account. The interest rate of 0.55% APY and structure appears to be the same as their existing High-Rate Savings account, just with an added $100 cash bonus if you deposit at least $100 a month for 12 consecutive months. Unfortunately, it is open to new Alliant CU members only. Thanks to reader Bill for the tip. Note that the fine print also states that you must have at least $1,200 in your account at the end of the period (you can’t have withdrawn it after the deposits). The $100 bonus is automatically deposited into The Ultimate Opportunity Savings Account after … [Read More...]

OnJuno joins the fintech banking world with the notable features of 2.15% APY on up to $30,000 and also 5% cash back on select merchants. They partner with Evolve Bank and Trust for FDIC insurance. Here’s my initial review after signing up, making my first deposit, and poking around their website. Here are the basics of their two options: Basic tier. 2.15% APY on up to a $5,000 checking balance. 5% cash back on up to $500 a year in debit card purchases ($25 max). 1 free out-of-network ATM withdrawal per month. No monthly fee. Metal tier. 2.15% APY on up to a $30,000 checking balance. 5% cash back on up to $3,000 a year in debit card purchases ($150 max). 3 free out-of-network … [Read More...]

Here’s my monthly roundup of the best interest rates on cash for January 2021, roughly sorted from shortest to longest maturities. I track these rates because I keep 12 months of expenses as a cash cushion and there are many lesser-known opportunities to improve your yield while still being FDIC-insured or equivalent. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you’d earn by moving money between accounts. Rates listed are available to everyone nationwide. Rates checked as of 1/6/2021. Fintech accounts Available only to individual investors, fintech accounts oftentimes pay higher-than-market rates in order to achieve high short-term growth. I will define “fintech” as an app software layer on top of a different bank’s FDIC insurance … [Read More...]

Here’s my monthly roundup of the best interest rates on cash for December 2020, roughly sorted from shortest to longest maturities. I track these rates because I keep 12 months of expenses as a cash cushion and there are many lesser-known opportunities to improve your yield while still being FDIC-insured or equivalent. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you’d earn by moving money between accounts. Rates listed are available to everyone nationwide. Rates checked as of 12/10/2020. Fintech accounts In the currently low-interest rate environment, individual investors can get higher-than-market rates by moving their money into fintech accounts that are trying to achieve high short-term growth through a combination of lower cost structure and venture … [Read More...]