Raisin.com provides a free online savings marketplace with very high savings rates through partnerships with over 45 federally insured banks and credit unions. You only need $1 to fund any Raisin account and that includes CDs (Certificate of Deposit).
Upgrade currently offers the easiest debit reward program available with unlimited 1% cash back, 2% cash back categories, and great merchant offers from local restaurants and national brands.
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Everyone uses banks. We want to help you Use Banks Better.
Our key guidelines are:
There is so much competition for your deposits and transactions that you should not pay fees just for having an account. Monthly maintenance fees and credit card annual fees usually are not worth the marginal benefits that come with the accounts, but we will explain the few cases where these make sense for you.
Credit card interest is almost as evil as a payday loan. The only time you should keep a credit card balance is if the interest rate is 0% such as with a new credit card offering 0% APR on purchases for an introductory period. Even then, you should pay the monthly balance to yourself by making deposits to a high-yield savings account until you pay off the credit balance at the end of the 0% APR period. Bottom line is banks should pay you interest for your deposits and you should avoid paying credit card interest.
Banks often create incentives to change your loyalty. For example, there are many great credit card offers for airline miles or unique bank rewards programs, but those programs force you to be loyal to a specific airline or bank. We want to list options on this site that always allow you to have more U.S. dollars in your pocket so that you can stay loyal to YOUR money.
Banks use your deposits to make loans and get paid interest from the loan borrowers. You should be compensated with your own interest for allowing banks to do this. All accounts and offers listed on our site will allow banks to pay you by following our key guidelines. So let's get started!
We believe in learning by doing and we think the best way to teach kids about money management is to allow them to use their own bank accounts. There are many options for financial accounts for kids right now but we want to focus on the best FDIC insured accounts with no monthly maintenance fees.
We love maximizing credit card rewards, but now we are finding debit card options with interesting rewards that fill key gaps. No impact on your credit score, no overdraft fees, merchant offers and more!
Chime isn't our favorite financial technology (fintech) company, but it could be yours.
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Bank | APY with Direct Deposit |
APY without Direct Deposit |
Minimum Monthly Direct Deposit |
Minimum to open account |
Minimum Daily Balance |
Maximum Balance eligible for APY |
Early Paycheck? |
|
---|---|---|---|---|---|---|---|---|
Pibank | 5.50% | 5.50% | Apply | |||||
Newtek | 5.25% | 5.25% | Apply | |||||
Openbank | 5.25% | 5.25% | $500.00 | Apply | ||||
TIMBR | 5.25% | 5.25% | $1,000.00 | Apply | ||||
Lending Club | 5.15% | 4.30% | $250.00 | Apply | ||||
TotalBank | 5.11% | 5.11% | $25,000.00 | $2,500.00 | $1,000,000 | No | Apply | |
EverBank | 5.05% | 5.05% | Apply | |||||
Brio Direct | 5.00% | 5.00% | $5,000.00 | $25.00 | No | Apply | ||
Fitness | 5.00% | 5.00% | $100.00 | $100.00 | $250,000 | Apply | ||
Forbright Growth | 5.00% | 5.00% | Apply | |||||
Ivy | 5.00% | 5.00% | $2,500.00 | $2,500.00 | $1,000,000 | No | Apply |
Bank | APY with Direct Deposit |
APY without Direct Deposit |
Minimum Monthly Direct Deposit |
Early Paycheck? |
Online Bill Pay? | Pay Anyone? |
Check Writing? |
|
---|---|---|---|---|---|---|---|---|
Climate First Choice | 4.72% | $1,000.00 | Apply | |||||
Primis Premium | 4.50% | 4.50% | Yes | Yes | Yes | Yes | Apply | |
Wealthfront | 4.50% | 4.50% | Yes | One-time or recurring check | No | Apply | ||
elroy | 4.25% | 4.25% | Yes | Yes | elroy to elroy | Apply | ||
Paramount | 3.25% | 3.25% | No | Yes | Apply | |||
T-Mobile | 2.50% | 2.50% | Yes | Yes | No | Yes | Apply | |
Customers | 2.00% | 1.00% | $1.00 | Apply | ||||
NBKC | 1.75% | 1.75% | No | Yes | Yes | Apply |
BankMindful.com is an independent publisher and comparison service. The content on Bank Mindful is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. We do our best to keep information updated, however, numbers stated on this site may differ from actual numbers. We may have financial relationships with some of the companies mentioned on this website. BankMindful may not include all companies or all available products.