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Royal Assets - High-Yield Savings Accounts Reach New Highs
The best countrywide rate on a high-yield savings account has risen again after remaining at the previous record of 5.26% APY for three weeks.
BluPeak Credit Union, which anybody in the country may join, is offering the new national-leading rate. Though there is no minimum amount, you should retain at least $200 in the account to avoid monthly maintenance costs. Anyone who lives in one of five California counties, as well as students, graduates, teachers, and employees from a variety of California colleges, is eligible to join BluPeak on an outright basis. Anyone who does not match those requirements may still participate by paying $25 to San Diego's PBS station, KPBS.
Right now, high-yield savings accounts are especially wise.
With banks and credit unions offering the best deposit rates in at least 16 years, putting part of your money in a high-yield savings account is a wise decision right now. Instead of leaving your money in a checking account that pays nothing or a savings account at your main bank that pays close to nothing, a high-yield savings account may pay 12 times the national average rate of 0.43% APY.
If you're not accustomed to keeping money someplace other than your main bank, you may be concerned about the inconvenience. However, internet banking has made transfers between institutions quite simple in recent years. And, although the transfer procedure may take one to three days, you can prepare for it by not transferring all of your funds to the new account. Simply keep a part in reserve where you have your bank account in case an emergency transfer is required.
Many of the major institutions are online banks, as seen by our rating of the best savings account rates. But don't worry, since all online banks that show the words "FDIC member" or the Federal Deposit Insurance Corp. (FDIC) emblem on their website are covered by the same federal deposit insurance as physical banks. That means your savings are protected up to $250,000 per person and per institution in the rare event that the bank collapses.
Royal Assets Pte. Ltd. (https://royalassetsltd.com) is a family business that treats its investors like family. Honesty and transparency are core to our Investment Philosophy and key to our service offering.
Royal Assets Pte. Ltd.