The 5 savings accounts in the United States that give you more than 3% return in January

The 5 savings accounts in the United States that give you more than 3% return in January

Due to the increase in interest rates from the Federal Reserve, there are high-yield savings accounts in the US that are offering a yield of more than 3%, even exceeding 4% APY

As the year begins, many people seek to save as much money as possible to achieve other personal goals. Not surprisingly, many put their cash into savings accounts. Taking advantage of the fact that we are in January, we present to you the 5 savings accounts in the United States that give you more than 3% annual return, a rate that is higher than the average for bank accounts that barely exceeds 1%.

The national average APY on savings accounts is just 0.24%, according to the Federal Deposit Insurance Corporation (FDIC). The savings accounts with the highest yield, those that exceed 3%, are almost 15 times more. With the increases in interest rates from the Federal Reserve, many of the banks, especially the online options, are paying more annual percentage yields to their clients.

1. UFB Direct

The UFB Best Savings account is for anyone who wants to make the most of their money. This account offers a yield of 4.11% APY, one of the highest current interest rates in the United States. UFB Direct is an exclusive online bank and is a division of Axos Bank.

Despite being a savings account with the highest yield on the market, you do not require minimum deposits to open it and the rate of return is guaranteed even if you have $1 in the account. In addition, you have unlimited transfers and it gives you a free ATM card.

2.Bask Bank

All Bask Bank savings account holders could earn a 4.03% annual return. The accounts offer no monthly fees or minimum deposits. Bask Bank is a division of Texas Capital Bank, but it operates entirely online. Warning: the bank may close your account if it remains without funds for 60 days.

As if that weren’t enough, frequent flyers can choose to earn American Airlines AAvantage miles in lieu of their annual rate of return. With the Miles Savings Account, you’ll earn 2 miles for every $1 saved annually. You can use these miles for flights on American Airlines or any of its more than 20 partner airlines. Therefore, you can effectively finance your next vacation without any expenses.

3. Varus

Varo is a fully mobile national bank, with guaranteed 3.00% APY savings accounts for all account holders. What makes Varo Savings Accounts attractive is that they can earn you 5.00% APY if you make a minimum of five purchases with your Varo Visa Debit Card, have deposits totaling $1,000 or more, and maintain a balance on the savings account not to exceed $5,000, all in the same month.

Varo is a totally online bank, so all movements are made through electronic transfers. For any cash deposit, Varo makes available third-party services that may charge a transaction fee.

4. Lending Club

Although you do require a $100 initial deposit to open the account, you don’t have to meet any minimum balance requirements or charge a monthly maintenance fee to earn the 3.60% annual rate of return.

To top it off, LendingClub offers a free ATM card and doesn’t charge ATM fees, making it easy to withdraw money when you need it. You can also deposit cash at select ATMs, deposit checks through the mobile app, make a direct deposit, make an electronic transfer from a third-party bank, or make a wire transfer.

5. Ally Bank

Ally Bank offers a high-yield savings account online with 3.30% APY. You do not require a minimum balance and there are no monthly maintenance fees. The checking and savings account gives you access to more than 43,000 free Allpoint ATMs in the United States, making it easy to withdraw cash when you need it. If an ATM charges you a fee, Ally will reimburse you up to $10 per month.

By law, Ally account holders can withdraw or transfer money online up to six times a month without penalty. Ally then charges $10 per transfer. You can also call the bank to request a mailed check, which does not count as one of your six transactions.

Samuel Edwards
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