NEW! Best High Yield Savings & Checking Accounts 2025

[@DiamondNestEgg]

💎Join our KZbin member live Q&A happening today, Sunday, January 26th 2025 at 5pm ET/2pm PT: kzbin.infoBqrpIQu3CZ8 💎Use bonds2025 at checkout to get 10% off our bond courses through the end of January! Learn all about bond investing while yields are high! Get both our bond courses together & save: www.diamondnestegg.com/home#_paa2isucf 💎Bond Beginners (our foundational-level bond course): www.diamondnestegg.com/bond-beginners 💎Bond Masters (our intermediate-level bond course): www.diamondnestegg.com/bond-masters 💎Email [e-mail] & we will connect you with a colleague who will create your customized annuity plan for you or wait for the rest of our Annuities 2025 video series! >>>>>>>>>> WATCH NEXT >> Our Bond Courses vs KZbin Membership | Which Is Right For You: kzbin.info/www/bejne/fmbLZXivnZWboNE >> Bond Beginners Course Sneak Peak | I-Bonds vs TIPS: kzbin.info/www/bejne/q4mzq5WgmpaaaKc >> Bond Masters Course Sneak Peak | How To Build A Bond Ladder: kzbin.info/www/bejne/pmqTenejjdNkb9U >>>>>>>>>> SOURCES: home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics www.origin.bank/performancechecking/ www.varomoney.com/high-yield-savings-account/ banks.data.fdic.gov/bankfind-suite/bankfind www.axosbank.com/ www.openbank.us/ www.santander.com/en/press-room/press-releases/2024/10/santander-launches-openbank-in-the-us-expanding-its-consumer-banking-business-nationwide www.pibank.com/pibank-savings/ www.newtekbank.com/certificate-of-deposit/ www.newtekbank.com/personal/high-yield-savings/ www.briodirectbanking.com/high-yield-savings/ >>>>>>>>>> Here is the overview for Bond Beginners: 1. Bond Basics What A Bond Is & How A Bond Works Why Invest In Bonds New Issue vs Secondary Market Bonds Interest Rates & Bond Prices Current Yield & Yield To Maturity Always Remember This! Buying At Par, Above Par & Below Par Different Types Of Bonds Wrap-Up 2. The Risks Of Bond Investing Seven Key Bond Risks Credit Risk Interest Rate Risk Reinvestment Risk/Call Risk Inflation Risk Liquidity Risk Currency Risk & Country Risk Bond Risk Mitigation Strategies Wrap-Up 3. US Treasuries Overview What Are US Treasuries Why Invest In Treasuries Where Can You Buy Treasuries How Are Treasuries Taxed Wrap-Up 4. Treasury Bills What Are Treasury Bills (T-Bills) When Do T-Bill Auctions Happen Where Should You Buy At Auction Auto-Roll When Buying At Auction Where To Find Recent Auction Results High Rate vs Investment Rate Reopening Auctions Cash Management Bills (CMBs) Buying & Selling On Secondary Market Wrap-Up 5. Treasury Notes & Bonds What Are Treasury Notes & Bonds When Do Auctions Happen Buying Treasury Notes & Bonds Auction High Yield vs Interest Rate Floating Rate Notes (FRNs) Treasury Zeros (STRIPS) Wrap-Up 6. TIPS (Inflation-Protected) What Are TIPS When Do TIPS Auctions Happen Nominal vs Real Yields Negative Yields How Do You Adjust TIPS For Inflation Taxes On Phantom Income Secondary Market Liquidity Wrap-Up 7. I-Bonds (Inflation-Protected) What Are I-Bonds How Does I-Bond Interest Work I-Bonds vs TIPS The Annual I-Bond Limit Wrap-Up 8. Agency Bonds The Universe Of Bonds What Are Agency Bonds How Are Agency Bonds Taxed Treasuries vs Agencies Who Might Want To Consider Agencies Yield-To-Call & Yield-To-Worst Where Can You Buy Agency Bonds Wrap-Up 9. Municipal Bonds Our Bond Universe Gets More Complex What Are Municipal Bonds How Safe Are Munis How Are Munis Taxed The De Minimis Rule Social Security & Medicare Premiums Treasuries, Agencies & Munis Who Might Want To Consider Munis Wrap-Up 10. Corporate Bonds Our Bond Universe Is Complete What Are Corporate Bonds How Safe Are Corporates Corporate Bond Hierarchies Five Key Features Of Corporate Bonds How Are Corporates Taxed Treasuries vs Corporates, Etc. Who Might Want To Buy Corporates Wrap-Up >>>>>>>>>> Here is the overview for Bond Masters: 1. Stocks vs Bonds Historical Performance Are Bonds Really Less Volatile Why Invest In Bonds Accumulation vs Decumulation Allocation of Stocks vs Bonds Wrap-Up 2. Which Bonds Might Be Right For You Treasuries & Other Types of Bonds Nominal vs Real Yields Inflation vs Non-Inflation-Protected Taxable vs Tax-Advantaged Accounts Wrap-Up 3. Bond Ladders & Other Bond Strategies Normal vs Inverted Yield Curve What Is A Bond Ladder 5 Important Bond Laddering Questions Laddering When Rates Are Rising Laddering When Rates Are Falling Laddering When Rates Are Uncertain What Is A Bullet What Is A Barbell Wrap-Up 4. Holding to Maturity vs Selling Early Why Hold to Maturity When To Sell Early Before Maturity Tax Implications Of Selling Early Wrap-Up 5. Individual Bonds, Bond Funds, Etc. Why Buy Individual Bonds Why Buy Bond Funds Bond Fund Considerations Key Bond Fund Concepts CDs vs Treasuries Other High-Yield Investments Wrap-Up 6. Our B.E.S.T. Model Portfolios By Age Our B.E.S.T Model Portfolios By Age Model Portfolios In The Industry B.E.S.T Model Portfolio Difference How Much Do You Need To Retire? How I Use The Rules of 100, 110, & 120 B.E.S.T Model Portfolios (20s) B.E.S.T Model Portfolios (30s & 40s) B.E.S.T Model Portfolios (50s & 60s) B.E.S.T Model Portfolios (70s+) Wrap-Up 7. The Decumulation Phase What Is The Decumulation Phase? Bear Markets & Recessions What Can You Do In Bad/Bear Markets Decumulation Tax Considerations The 4% Rule The Bucket Strategy The Flooring Approach Jen’s Bucket Strategy With A Twist Wrap-Up >>>>>>>>>> Thanks for visiting our personal finance channel! We hope this content will help fast-track your financial journey! Everyone's financial journey is different. Please note that: 1) there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances 2) we will not ask you to call us or send us money in the comments on this channel or any of our other social media accounts, so if you see comment(s) along those lines, it is most likely spam - PLEASE DO NOT ENGAGE WITH SPAMMERS OR GIVE OUT YOUR PERSONAL INFORMATION FOR YOUR OWN SAFETY

[@scottlieber7985]

This channel is fantastic. All value, no fluff, and for a broad and general audience. Thank you for the great videos.

[@MI-6e]

I'm still sticking with T bills for now. More flexibility and no state tax makes it a better option than opening new accounts all over the place.

[@gmv0553]

Have a residency in a state that has no state and local taxes!

[@MountainOfTruth]

What account method for doing that? I've never done it.

[@cookmaster3626]

@@MountainOfTruth - Are you talking about investing in T- Bills? if so i can answer and its easy with a few clicks on the computer. The only thing being you need to have an account with Fidelity / Schwab / vanguard type places. I use Fidelity and its very easy.

[@Taara.Sanders]

Where is the link for T bills?

[@MI-6e]

@Taara.Sanders you can open an account with Treasury Direct or buy them through brokerages such as Fidelity, Schwab.

[@etutlf4176]

These banks have so many conditions, I would rather go for T bills which have no conditions.

[@racsop70]

Same. Or just leave it in the Fidelity SPAXX.

[@motorcityneedlearts-sy1dv]

And don’t forget callables

[@peterbedford2610]

Ues SPAXX is easy

[@MountainOfTruth]

What method do you use for that? I've never done it.

[@jimc9175]

Not to mention t-bills are exempt from state income tax, which is meaningful, especially for those of us in high-tax states.

[@SurfCityBill]

Unless you want to keep substantial amounts of money in these accounts it seems like the extra earnings are very small on small balances, while the terms and conditions are not worth the hassle.

[@kimappreciateslife]

Too many hoops to jump through. I’ll stick with T Bills & prime money market funds at my brokerage.

[@superfastener]

what i've found is that some of the online banks have restrictions on the amount of $$$ you can ACH out to external banks. It becomes like the proverbial "Roach Motel" - you can deposit in via ACH but are limited into what you can "push" out. Pulling the funds out often takes 2~3+ days which is costly for large amounts. Where is the money during the 2~3 days in transit from one bank to the other? In any case, I am really enjoying this channel for it's sound & straightforward, honest information. Go Jennifer !!!

[@johnl9135]

Sorry, I don't go with banks that has too many requirements.

[@mikeknoll1130]

Doesn’t make sense to move money around for a few tenths of a percent.

[@srercrcr]

I don't think anybody is MOVING money for a few tenths, But when you're ready to buy it's worth your time to research for one of the highest rates.

[@surgonc]

Currently at Amex 3.8% - their rate has dropped quite a bit since I opened the acct. No brainer to move to Axos @ 4.86%.

[@patrickyoung8088]

Good information . My wife and I have an American Express high yield savings account that is paying 3.8% with no hoops etc. We are fine with it and have no problems or complaints.

[@墨紫月]

Same

[@racsop70]

For that interest rate, why not just leave it in Fidelity SPAXX money market account?

[@墨紫月]

@ that is exactly what I am doing. Had AmEx savings for years

[@patrickyoung8088]

I don't have a fidelity account.

[@brucedishongh8727]

I had a HYSA for many years, but they recently changed my login procedure which made it difficult to get to my account, so I transferred everything to another bank.

[@psullivan9299]

CFG Bank out of Baltimore has been great. 4.55% as of last statement, though set to drop to 4.37%...which is down from 5.15% before the rate cuts (why, as a saver, I love high interest rates). Easy transfers, monthly statements, plus they have a long history and some brick & mortar locations, so no fly by night/scam bank worries, unlike some online-only banks.

[@adriennerutledge5745]

Just opened with Open Bank. Will see if the rate holds up.

[@christinak.2984]

Do you like their app? Is the app functioning well and money is easy to withdraw?

[@ciarandonohue]

Original bank will only allow you to open an account in person.

[@Bondbeer]

Great video. My savings dropped so I am looking around but some of the requirements and qualifications don’t make it worthwhile to pick up 1% vs available elsewhere at a local bank with physical branches and without the need to jump through hoops.

[@cookmaster3626]

Good info. I personally dont take up on any promo rate HY savings account. My reason being after a few days / months they drop the rate much lower, dont communicate to you, and most times dont even mention in your monthly statements. You have to stay on top of the rates by calculating yourself based on interest earned. Besides there are often too many conditions like auto deposits, and other requirements. Bottom line not worth for extra tenths of a %age rates and the hassle, when T Bills are easy to sign up with a few clicks on the computer. My humble opinion.

[@PaulWolf-t2h]

I have money in 4.3% CDs, but with 2.9% inflation, the return isn't what it appears to be.

[@bridgetg1916]

Jenn, Could you do a video on Vanguard's Cash Plus Account? They state you "could" earn 3.65% APY with this account and it looks pretty simple to access your money. I'm assuming this type of account qualifies as a HYA of some sort. If I missed this, and any equivalent Fidelity may have of this type of account, would you mind sending the link? Thanks!

[@daisymayzee]

Bask bank 4.5%

[@NaoumHalamoutis-ep6oo]

Leader Bank in Arlington Ma....4.77%

[@MGG588]

problem with savings accts is that you have to pay tax on capital gains is that true of money market ?

[@Dave-FIREd]

I think I'll stick with SPAXX and SGOV. No hoops to jump through and nothing to worry about.

[@NuMooX]

Thanks for recommending SPAXX

[@buildingAbiz]

I am currently getting 5.35% APY on my savings account from 5th 3rd bank BUT it was a promo they sent us in the mail to get it so not sure if it's available to the masses

[@jarvisskooge8602]

What area?

[@buildingAbiz]

@jarvisskooge8602 Orlando Florida

[@terrinyc29]

I received a similar one from Huntington bank. It's been great. It's not advertised. It was an email promotion.

[@ELURIE12]

I had Varo Bank. I don’t have it anymore because their interest rate of 5% on only $5000 was not enough for me. They did have a promotional rate when they first started. I took advantage of that. Don’t remember what it was. I live in Oregon, which has an income tax. So treasuries were better.

[@g.t.richardson6311]

I have a number of CDs coming due next week and into mid February.. rates have ticked up in past few days on both Schwab and Fidelity

[@OroborusFMA]

Goldman Sachs just raised their 9 month CD also.

[@danielmarchisella8895]

2 years on the brokered was 4.25 pay monthly, I want higher though

[@danielmarchisella8895]

I think the treasury could go to too 6 or 7 debts will balloon this year. Fed can't control this

[@BillK8491]

Sticking with American Express. No conditions and I can pay bills from it. AE has a new checking account paying 1%. No minimum no conditions. No fee

[@ChristopherEvans-650]

Too much of a hassle. As my 6 month T-bills mature, I have been buying 10 year notes on the secondary market starting to create a 10 year ladder. So far, I was able to get some 10-year notes at an average of %4.72 YTM due in 11/2034 and 10-year notes at an average of %4.61 YTM due in 11/2033. Hoping for rates to be higher for longer as it will take 5 more months to make the transition.

[@Jon-da-bad]

T bills are taxed at the federal level. No state tax. 😢😢😢😢

[@PaulWolf-t2h]

If you put your money into a security and hold it for more than a year, it's only taxed at the 15% capital gains rate, which is even better.

[@billblack4761]

Are there online calculators that help figure out if a Treasury rate is equal or better than a local CD rate, taking taxes into account?

[@pault6554]

Yes, google "Fidelity tax equivalent yield calculator"

[@realtalkiswhat]

I like SoFi but the rate dropped to 3.8 percent

[@rosaryofthecross7149]

Apple bank Smart start for child and parent 6% 10,000$ max any savings after that 0.075%

[@srercrcr]

Being variable interest contracts I'm not interested. I can get a fixed 4.60% locked in for 7 months today.

[@mccannmera]

Checking them out now. Thank you

[@henriquezfamily5135]

If we continue on the same trend we can go back to CD accounts can hit 20% 💯🤩

[@Reggy2000]

Jennifer, can you make this same video but for money market accounts?

[@mejungleeone]

All these banks have to many restrictions.

[@motorcityneedlearts-sy1dv]

Many have much lower rates for IRAs

[@stephenoutram3926]

Open bank can't be connected to another bank through plaid. Money in and out is slow. Pi bank also can't be connected by plaid. Union bank & trust is 4.8%, but I i don't have an account with them so no opinion on them yet.

[@墨紫月]

Can you transfer funds between banks though?

[@stephenoutram3926]

@墨紫月 with pi Bank you can transfer in using their transfer function, and it's quick, I haven't tried transferring out yet because it is by bank wire only. I have pulled money out using another account but it has to be with a bank that doesn't require plaid connection. Open bank takes like 3 days to deposit or withdraw money from their site. You can pull or push money using another bank that doesn't require plaid. I plan on opening union bank & trust this week, but I don't have any experience with them yet. I like Poppy bank the best. I get 4.75% apy currently, but I don't think that is offered for new accounts

[@evlnte]

You can connect banks the old way with those pesky tiny transactions. Also, don’t pull money in. Like Fidelity, only push money into or push money out of these accounts.

[@greyhoundude6112]

Monkey in a cage, man. I'll stick with my Vanguard money market fund which is currently yielding around 4.3%.

[@rosalindhb]

Too many hoops to just through to get the high APY.

[@paulseidel5819]

My credit union is paying 5.5, so i am good, thanks

[@kimappreciateslife]

Can you share the name of your credit union?

[@paulseidel5819]

@abhishekbodas yes, IQ credit Union. But, they are local to the PNW Oregon area.

[@paulseidel5819]

@@kimappreciateslife iq credit union

[@KayKay14m]

iQ Credit Union Conditions: To earn the Intelligent Checking rate of 5.50% APY on balances up to and including $25,000, and 0.25% APY on balances over $25,000, you must meet the following monthly requirements: twelve (12) debit or credit card transactions; direct deposit of $100 or more per month, log in to online banking at least once per month; and receive e-Statements.

[@paulseidel5819]

@kimappreciateslife iq credit union in Vancouver, wa

[@mr.peepers7362]

Too many conditions

[@Bondbeer]

Santander has more worldwide customers than JP Morgan and Bank of America.

[@morganfbilbo462]

Egads. I've never had any bank with so many conditions. No thanks. I'll stick with Schwab and the SWXXX accounts.

[@billringer4420]

30 day CD 4.75 apy 90 day CD 4.65 apy 1,000 minimum deposit. OAKSTAR Bank, Missouri

[@bexaminer1]

Do you have an opinion about a mutual fund with Fidelity? It's FXAIX.