High Yield Savings Account - Over 3% on a Bank Account?
People are interested in high yield savings account. We here at Money Market Rates 101 know that people want the best yield possible. They want the highest Annual Percentage Yields on their accounts as this ensures greater profits and better financial performance. Banks generally do not offer high yield savings on every type of savings account. Some of the highest yields are as follows.
Capital One Direct Banking is offering high yield savings account with an APY of 1.55% with the minimum opening balance of $2,500. American Express Bank FSB offers an APY of 1.50% although it does not have any requirements for minimum balance.
APY of bank account rates is calculated at 1.49% at Ally Bank. This financial institution does not have any minimum balance requirement under most of its investment options. WTDirect is currently offering an APY of 1.41% if the saving account has a minimum balance of $10,000. ING Direct does not have any minimum balance requirement and offers an APY of 1.25%.
It is possible to receive over 3% in bank account in the Certificates of Deposit investments, especially in the high yield option. A 5-year investment generally yields more than 3% APY and some companies offer as high as 3.50% APY. A 4-year investment also sometimes yields an APY of 3% under special cases although most companies offer a maxium of 2.75% under this investment. A 7-year investment in CD and a 10-year investment in CD also yields higher APYs. They can be as high as 3.75% but mostly remain under 3.50% and some are even lower than 3%. It all depends on the economic indicators and the company that is offering these rates.