High APY Savings Account

@Chris R Here's a recent article in Bloomberg:

https://www.bloomberg.com/news/articles/2020-09-10/saving-money-startup-bets-people-will-do-it-for-a-chance-to-win-10-million

I signed up. I'll see how it goes.

@Chris R Here's a recent article in Bloomberg:

https://www.bloomberg.com/news/articles/2020-09-10/saving-money-startup-bets-people-will-do-it-for-a-chance-to-win-10-million

I signed up. I'll see how it goes.

Cool! Let me know if you win the 10 million:)

@Aaron G. The reviews on the Doctor of Credit website scared me off from HMBradley. I guess you’ll likely have that rate thru the end of the year?

I had no issues opening the account, nor did I have any issues establishing a direct deposit from my DoD paycheck. I agree that the rate seems highly unsustainable, but given what other rates are, it seems worth a shot.

I hope it works out okay.

Thanks. There's some rate risk, but rates are generally low everywhere else.

For those with interest in HMBradley, I've established my account and have had a direct deposit to the account. I'm now earning 1% APY, and I'm on track for the top tier starting 1 October. We'll see what that top tier rate ends up being.

@Chris R Here's a recent article in Bloomberg:

https://www.bloomberg.com/news/articles/2020-09-10/saving-money-startup-bets-people-will-do-it-for-a-chance-to-win-10-million

I signed up. I'll see how it goes.

Cool! Let me know I you win the 10 million:)

Wouldn't that be nice :D

Thank you all for all the great financial information.

Here is a list

-OneFinance- 1% on first 10k, or 1% on 25k if you add direct deposit. Can auto-save 1-10% of your direct deposit and earn 3%

-Yotta Savings- .20 base rate with options to win lotteries

-T-Mobile Money- 3% on first 3k, 1% on everything after that

-Affinity FCU- 2% on first $2500 (1.00% on next $2500)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

-Blue Credit Union- 5% APY on first $1000 (.10% after)

-BECU- 2.02% APY on first $500 (.02% after)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

-Credit Union of New Jersey- 7.5% on first $500 (0.05% after to $10k)

-DCU- 6.17% APY savings up to $1,000 (0.25% after)

-Meriwest CU- 2.5% APY on first $5k, 1.5% APY on next $5k

-Oregon Community Credit Union- has their "Ignite" savings account - 5.25% APY on the first $500, 2.96% up to $2500 (3.45% blended on $2500 balance), 1% up to 5k (2.23% on blended 5k balance), and a couple more tiers after that.

-Patelco Credit Union- 2% on first $2000 (1.00% on next $3k)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

-Premier Members Credit Union- 2% on first $2000 (0.5% on next $3k) [This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

-Redstone FCU- 2.00% APY savings up to $2,500 (0.10% after) [This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

-Service CU- 5% APY on first $500 (0.25% after)[also has a holiday club account that is 3% APY for the first $3k]

-St. Mary's Bank CU- 5% APY on first $500, 3% APY on next $500, (0.05% after)

-Tampa Bay Federal CU- 3.5% on first $1k with a $500 min (0.10% after)

-USAlliance Financial- 2% on first $500 (0.02% after)[This rate was higher before COVID-19 Fed Rate Cut and will likely go higher when the Fed raises the prime rate]

-OnJuno (not yet released)- 2.15% on highest tier, will have a monthly fee in the future.

-Affinity Plus FCU- 2.02% up to 25k, over 25k earn 1%, requires $500 direct deposit

-HMBradley- Different tiers offering up to 3% if you save 20% of your paycheck

Non-FDIC alternatives using cryptocurrency
-These convert your dollars into stablecoin, usually dai or usdc, and then supply to liquidity pools ie compound, aave, etc.
-Getlinus.io - 4 to 4.5% depending on how much you deposit
-Donut.app- Variable but ranges from 2-10%, really like this app
-Myconstant.com- 4% flex rate, 6-7% for deposit

@ Chris Thanks! Did you compile this list yourself or did you grab them from a particular site?

@ Chris Thanks! Did you compile this list yourself or did you grab them from a particular site?

The credit unions I got from myfico forum.

Thanks @Chris R. ! Nice to have that info compiled.

@Chris R Win anything last week? I won $6.70

@Chris R Win anything last week? I won $6.70

Nothing exciting, just 50 cents.

@Chris R Win anything last week? I won $6.70

Nothing exciting, just 50 cents.

Better than nothing:) There's a level-up system on the updated app, I get 200 tickets now if someone signs up and I guess they do too.

Thanks a lot to research!

@Chris R Win anything last week? I won $6.70

Nothing exciting, just 50 cents.

They just added a Tesla 3 for matching 6 numbers

@Chris R Win anything last week? I won $6.70

Nothing exciting, just 50 cents.

They just added a Tesla 3 for matching 6 numbers

Saw this on DOC about it,

"Ouch, so Yotta just sent out an email that the number of balls that the Yotta ball will be drawn from increases from 25 to 63. If all prize values stay the same next week, this will be a huge APY drop for the base prizes. It will go from 2.55% to 1.62%. I was worried something like this was coming with the increased referral program. Fingers crossed they raise some of base prizes, but I very much doubt it. They mentioned in the email that the 2nd biggest prize is now a Tesla. But that prize is very very unlikely to be won so expected value-wise it has virtually no effect."

Too bad it drops down to .25% once you go over $1,000.

That's a really high APY for an account that doesn't lock down your money for months, like a CD (Certificate of Deposit)

@Aaron G. The reviews on the Doctor of Credit website scared me off from HMBradley. I guess you’ll likely have that rate thru the end of the year?

I had no issues opening the account, nor did I have any issues establishing a direct deposit from my DoD paycheck. I agree that the rate seems highly unsustainable, but given what other rates are, it seems worth a shot.

I hope it works out okay.

Thanks. There's some rate risk, but rates are generally low everywhere else.

For those with interest in HMBradley, I've established my account and have had a direct deposit to the account. I'm now earning 1% APY, and I'm on track for the top tier starting 1 October. We'll see what that top tier rate ends up being.

For those with interest in HMBradley, today is Tier Day, and Tier 1 is still paying 3%. That rate should be good for the quarter, but we'll see if they change it. Hoping to be able to link my HMBradley account to SaverLife.

OnJuno Beta has gone live. They're on-boarding about 5-10 people per day.

Chime don’t use saving apr rate

@Chris R Win anything last week? I won $6.70

Nothing exciting, just 50 cents.

They just added a Tesla 3 for matching 6 numbers

Saw this on DOC about it,

"Ouch, so Yotta just sent out an email that the number of balls that the Yotta ball will be drawn from increases from 25 to 63. If all prize values stay the same next week, this will be a huge APY drop for the base prizes. It will go from 2.55% to 1.62%. I was worried something like this was coming with the increased referral program. Fingers crossed they raise some of base prizes, but I very much doubt it. They mentioned in the email that the 2nd biggest prize is now a Tesla. But that prize is very very unlikely to be won so expected value-wise it has virtually no effect."

I saw that too. Here's a spreadsheet compliments of Mark in the comments, just add your # of tickets:

I'll give it to the end of the month but then will probably abandon Yotta. Haven't had any luck.

I'm doing that with PrrizePool, I won $5 but if they don't do weekly prizes I don't have the patience:)

I'm now actively in the OnJuno beta, earning 2.15% with 5% cash back at 5 selected merchants for debit card purchases.

I haven't won anything.

Some banks have way too high a minimum on opening accounts for people living on a low income.

Some banks have way too high a minimum on opening accounts for people living on a low income.

Contrary to what many might expect to be the case, in general, the poorer you are, the more expensive banking becomes, assuming that banking is even available to you. To get ahead through saving, it's vital to avoid paying banking fees if at all possible. This includes bank fees and banking alternative fees like those associated with pay-day lenders and check cashing establishments.