if you've got any extra money lying
around in a savings account and it's not
paying you at least one point six
percent interest right now then this
video should help you out because there
is no reason why you shouldn't be taking
full advantage of a high-yield savings
account
because there's plenty of them online
and they're all paying at least one
point six percent interest right now as
I'm making this video so in this video
I'm covering all of the best high-yield
savings accounts that I found online but
just keep in mind that in order to make
this list they have to have a checking
account associated with the savings
account and then they're all FDIC
insured and they're available to
everyone in the United States because
I'll be honest if you just do a little
bit of research you can find banks out
there that are gonna have slightly
better rates than the ones that I'm
talking about but a lot of the time
they're not gonna have checking accounts
and sometimes they don't work in every
single state so that's why these ones
meet these criterias that way they're
all the best overall for you guys and
we're not going to exclude anyone now if
you just found this channel I'm Jason
with honest finance and I make a lot of
videos on different topics that'll give
your life and your finances more value
so if you have any interest in this type
of content feel free to subscribe but
for now let's just start talking about
the best high-yield savings accounts
that I've found if you want to know what
a high-yield savings account is it's
just a fancy way of saying it's a bank
account that pays high interest and
there's really nothing more complicated
about it because if you actually called
up your bank today and asked them how
much interest you're making on your
savings account they'll probably tell
you that it's close to zero and that is
a total ripoff because there's so many
banks out there that will actually pay
you a lot more with a lot of the same
features and benefits so there's no
reason not to I mean obviously if you
only have a thousand bucks in your bank
account it's probably not worth your
time to earn about 16 bucks a year in
interest but on the flipside if you have
$10,000 in your bank account it probably
is worth your time to make about a
hundred and sixty bucks a year in
interest just because you're looking at
a high-yield savings account versus one
that's not paying you hardly any
interest one thing to keep in mind
though is that these rates are all
variable so they're gonna fluctuate
based on the economy and they can go up
and they can go down so depending on
when you watch this video the rates
could be slightly different but let's
just cross our fingers that they go up
rather than down because that's always
better for all of us also just be aware
that banks can change their terms at
anytime so anything that I'm talking
about in this video
it can change just based on whatever
they want to do but as of now the
information is accurate but I'm just
warning you that it can change over time
and as far as the list of banks goes I'm
going to start with the lowest interest
rate and then I'm going to go to the
highest interest rate but just keep in
mind that these are great banks and
they're all really good options so just
keep that in mind but I am going to
leave links for them in the description
below so check them out if you have any
interest
so the first bank that I want to talk
about is a very popular one online and
they're called Ally Bank and currently
they have a savings account rate of 1.6%
which is extremely competitive but a lot
of the time I've seen them being a
little bit more competitive because they
have followed them for quite a while
but that's what their rate is currently
Ally Bank doesn't require any monthly
minimum balances they don't charge any
monthly fees and then on top of that if
you use their checking account they
actually pay an interest rate that's
about as high as you can get for a
checking accounts so if you do end up
using their checking account they'll
actually pay you a tenth of a point for
any balance under fifteen thousand
dollars and then if you're over fifteen
thousand dollars they'll actually pay
you half a point which is very very good
for a checking account so if you want to
get a really good rate on your savings
account and your checking account then
definitely check out Ally Bank because
they are a very good option for the
online space of high-yield bank accounts
now the next Bank I want to talk about
is actually discover and I had no idea
that credit card companies actually had
bank accounts but they do and Discover
is actually really competitive and they
have a really good checking account as
well right now their savings account is
at 1.7 percent which is really
competitive and then on top of that they
advertise very heavily that they do not
charge any fees so that means they don't
have any monthly fees anything like that
and they don't require any minimum
balances as well now discovers checking
account doesn't currently pay any
interest but the cool thing is is that
they do have a debit card that pays you
1% cash back for up to $3,000 and
purchases every single month so for a
debit card connected to a checking
account that's about as good as it gets
as far as rewards go their debit card
can also be used at over 60,000 ATM
locations and then on top of that
Discover also makes it very clear that
they're checking
doesn't have any fees as well I'll also
mention that Discover has some of the
best CD rates as well so if you're
willing to lock up at least 2,500 bucks
into one of their CD accounts then right
now you can earn 2% interest on only a
12-month CD and that is really
competitive when it comes to CD rates so
keep discover in mind if you want to do
one of those the next bank that made my
list is Capital One because they have a
savings account right now that pays out
1.7 percent and then on top of that they
also don't have any monthly fees and
they don't require any minimum balances
as well Capital One also has a checking
account that pays out two tenths of a
point and that's on any balance so no
matter how much money you have with them
you are gonna get a very competitive
rate when it comes to a checking account
and that's just really good all around
Capital One also has physical locations
as well so if you're the type of person
that likes to go into the bank to take
care of things you can do that with
Capital One but just keep in mind that
they're not located in every state so
some of you might be able to do that
some of you won't but I'm just letting
you know now the last bank of my list of
high-yield savings accounts goes to CIT
bank but don't get that confused with
Citi bank because these are two
different entities that we're talking
about here and I'm talking about CIT
bank they currently offer a savings
account that has a yield of 1.8% but
then they also have a money market
account that's actually getting 1.8 5%
right now so that's the best you can get
through CIT Bank now I'll tell you right
now that in order to get the best rates
from CIT Bank you do have to have a
minimum balance of at least $25,000
which honestly I don't think that's very
good but the good news is is that if you
just make a minimum deposit of at least
a hundred bucks per month then you can
get their highest rates and I don't
think that's very hard to do and
honestly if your goal in the end is to
be making money off of your high-yield
savings account then depositing just a
hundred bucks a month shouldn't really
be that hard to do anyway
CIT bank also pays out a quarter of a
point on their checking accounts if you
have over $25,000 in them and then if
you have less than $25,000 they'll
actually pay a tenth of a point and
that's really good as well
overall CIT Bank is a really good option
to go with because they've got the best
rate that you can get at one point
five percent and then just keep in mind
that their checking account also pays
out a really good rate as well now those
are the best high-yield bank accounts
that I've found personally that have
checking accounts associated with them
but if you guys want to do your own
research I'm sure there's other banks
out there but those are the four that I
wanted to talk about but if you want to
do some quick research on the banks that
I mentioned in this video then go ahead
and check out the description because
I'll have links for all of them below
now once again I'm Jason with honest
finance and I make a lot of videos on
different topics that'll give your life
and your finances more value so if you
have an interest in that type of content
feel free to subscribe but thank you for
watching and have a great day
