Hi AJ! I'm enjoying your posts so far, and congrats on the warm reception you're receiving. Can you provide a more extensive list of banks that provide high-yield savings accounts? I'm looking into it, and I'm curious as to whether there are specific institutions you feel confident naming as candidates. There's one called Varo, for instance, that claims 5% APR.
Great question. I will cover this extensively in an upcoming post so stay tuned! Make sure the bank is FDIC insured (most are). I've never heard of Varo and most of those extra special higher APRs are promotional (meaning once you open the account they will drop the rate to be in line with everyone else). I wrote this little note about these accounts but more soon: https://substack.com/@moneychangeseverything/note/c-97117274?utm_source=notes-share-action&r=n2z7u
welcome AJ!
Thanks Bailey!
Hi AJ! I'm enjoying your posts so far, and congrats on the warm reception you're receiving. Can you provide a more extensive list of banks that provide high-yield savings accounts? I'm looking into it, and I'm curious as to whether there are specific institutions you feel confident naming as candidates. There's one called Varo, for instance, that claims 5% APR.
Great question. I will cover this extensively in an upcoming post so stay tuned! Make sure the bank is FDIC insured (most are). I've never heard of Varo and most of those extra special higher APRs are promotional (meaning once you open the account they will drop the rate to be in line with everyone else). I wrote this little note about these accounts but more soon: https://substack.com/@moneychangeseverything/note/c-97117274?utm_source=notes-share-action&r=n2z7u