Best Nationally Available High APY Liquid Accounts

Best Nationally Available High APY Liquid Accounts
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#1035

I knew someone here would come with the answer… So $100 would win out!!

No, not worth all the work of opening a new account. I’ll stick with what I have, Grow’s rate is guaranteed for a year.


#1036

You’re ignoring the additional $56.25 in regular interest you’d also earn from Marcus, in addition to the $100 bonus.

It’s costing you .50% on that $10k for 90 days - or $12.50 - to harvest that $100 bonus.


#1037

Whoops…absolutely correct…you’d still get the 2.25% divided by 4 (.563%) on top of the bonus $100.

Basically for 90 days you’d earn an APR of 6.25% @ Marcus ($156.25) vs $68.75

Starts to look more appealing now. :wink:


#1038

Yes, it would be more appealing @6.25%. BUT… it only last for 90 days.

To bad, I’m going to pass on this one. :wink:


#1039

Well, it’s also computes to 3.25% if you let the money sit there for a year…


#1040

Well, you can transfer it out in less than a minute. They have no minimum, so you can leave the account open.

I opened the Marcus account. It took about 6 minutes. If I add the time to confirm the test deposits and transfer the money out, it’s under 10 minutes time for about $90. That’s equivalent to $540 an hour.

For those who don’t have a Discover savings account, they also have a bonus. $150 for $15,000 deposit or $200 for $25,000 deposit (Offer Code NPBE319). The deposit must be made by 4/15 and the bonus will be paid by 4/29, so you need to have the money in there for as little as 2 weeks. Like Marcus, they have no minimum balance.
Discover Bonus


#1041

Add the time needed to download and import the 1099-INT next year. And the time to transfer the funds out and close the account. If using a tool such as Quicken, time to set up transaction downloads and a new account. MIght be up to 10-15 minutes now.

I’m not saying I would or wouldn’t pass on this deal, but suggesting there is a bit more friction to opening a new account than we sometimes think.


#1042

You guys are finding ways to make $$'s hand over fist. :wink:

But first of all I don’t have a Marcus or Discover Savings accounts. Sounds like a winner if I wanted to take the time to pursue the issue.

I have a real old fashion savings at Grow FFCU earning 2.75%, guaranteed for 1 yr. (no more work or small deposits involved)


#1043

If you have 250k at Grow, you are making around an extra $50 a month or $600 for the year versus a 2.5% account. Opening up a Discover account and a Marcus account is another almost $300…


#1044

I’m working on it!!

2 CD’s matured at Navy last Thursday & today half of the $'s are in Grow. Tomorrow the second half will be deposited. But I’m going to hang tight with Grow 2.75% MM Promo. (until we get a bombshell)


#1045

I got a $600 offer in the mail to open a Chase checking and savings accounts. That’s up from 500.


#1046

Watch out for the new 2-year rule.


#1047

I just got the $600 offer when logging into my Chase credit card account. What makes this one more complicated than Discover/Marcus is Chase has monthly fees if you don’t keep a minimum balance ($1500 checking, $300 savings). There are a few other ways, but the balance is the least annoying. I’ve resisted their past bonuses, but it’s worth a bit of hassle for $600.

It looks like it’s open to all. Here are the deets: Chase Offer

As 3c3 brought up, Chase only allows one bonus every 2 years.


#1048

Chase bonus offers sound great. But, you must do the Direct Deposit & that is a big hassle.

I did the Chase Bonus about 5-6 years ago. Then it was $500 & it ties up a large amount of money for several months time.

So go for the Chase/Discover & Marcus!!!
If we don’t see any movement for high interest CD’s, this may help us all out. :wink:


#1049

No, it’s direct deposit OR a daily balance of $1500. You can transfer out $14.7K after 90 days but you can’t close your accounts until the six month period is over. Otherwise, Chase will claw back the bonus.


#1050

Chase checking requires a direct deposit. There are ways to fake it if one is so inclined.

Terms:

To receive the $300 checking bonus: 1) Open a new Chase Total Checking account, which is subject to approval; 2) Deposit $25 or more at account opening; AND 3) Have your direct deposit made to this account within 60 days of account opening. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government. After you have completed all the above checking requirements, we’ll deposit the bonus in your new account within 10 business days.


#1051

That part is for waiving the monthly fee.


#1052

The DD is required. I opened this acct with Chase 4-5 years ago & there was no way to avoid the DD. Do you see the word AND 3.


#1053

I apologize if this is old news. I did not know. I might be the last one to have found out, if so not the first time. Anyway, I just received an email from DCU:

They are now paying 6.17% APY on the first $1000 in your DCU primary savings account.

I’m already in and have been for a while. But I thought the going rate was only 5% APY. This has to be the third or fourth increase since I sent 'em a grand several years ago. They keep on increasing the rate. I cannot keep up with the increases, but I’m not pulling out my $1000, either.:wink:


#1054

Well, that’s the good news of the day!!! I just checked my “cheat sheet”. Sure enough I have $1087 @5.12%. I don’t remember how long I have had the acct, but I guess there is a limit. Wow, 6.17%