Here are the Best Savings Accounts that give you the HIGHEST INTEREST RATE for your MONEY for 2020. Enjoy! Add me on Instagram: Drmbardi For business or one-on-one consulting inquiries, you can reach me at: Moneywithmikebardi@gmail.com
Get 2 Free Stocks on WeBull when you open an account and make any amount in deposit (Valued up to $1400):
Also get the New Robinhood Cash Management Debit Card and a FREE Stock from Robinhood:
My Favorite Credit Cards:
1. Chase Unlimited Rewards Card:
2. Discover IT Card:
First: we have a very well known bank: Ally Bank.
I personally know many people who have used Ally Bank for YEARS now and they’ve been a go to in terms of banking. They allow you to have unlimited checking accounts for free, there’s no fees for anything, they’re FDIC insured up to $250,000 and the best part of is they offer 1.6% interest with their savings account with no minimums.
Second: we have another popular online bank that might just be a little more profitable than Ally Bank and that’s Marcus by Goldman Sachs.
There savings account offers 1.7% interest, no monthly maintenance fees, no minimums, and they’re FDIC insured up to $250,000. However even though they pay slightly more it doesn’t appear as though you can use a mobile deposit for checks directly into your savings account which is a downside.
Third: Let's turn up the heat and turn it up a notch with CIT Bank which offers 1.8% Interest. Not to be confused them with Citibank.
In order to get that rate you need to do one of 2 things: Either keep an average balance of $25,000 in the account or deposit at least $100 per month. Assuming you can do one of those, they have no fees, they’re FDIC insured, and they’re available to anyone in the United States.
Fourth: This one isn’t listed ANYWHERE but so many people have used this so I had to mention it: Redneck Bank. They’re offering 1.75%% on their savings accounts, and 2.25% on their checking account, which is absolutely insane. Here’s how it works:
On their checking account, you’ll get 2.25% interest up to the first $10,000. And then you’ll get 1.75% interest on their savings account up to $50,000.
They have no monthly fees, no minimums, FDIC insured, excellent customer service, and a mobile app that you can deposit checks too.
Fifth: this might be the best one and that would be the BrioDirect Bank.
They’re offering 2.05% interest on their savings account, which is FDIC insured up to $250,000. With this, there’s also no fees, only a $25 minimum and a straight up account that offers 2.05% interest. After reading a ton of their reviews, it seems like a REALLY good option so I gave them a shot, and moved my money over there.
Finally: one last honorary mention, T-Mobile is offering a 4% interest checking account. Anyone can open it up, no fees, no minimum balance just 4% interest. However, it’s limited to the first $3000 only and you must deposit $200 per month to get the 4% rate. To me, it just not worth it specially considering you can get 2.05% up to ANY amount, without a regular deposit per month, with BrioDirect Bank. BUT I wanted to mention it because if you have $3000 in cash and you want to get the highest rate possible this is it, even if it’s a bit of a hassle.
Just remember: The point of this is NOT to be a substitute for investing your money. The entire point of this is to KEEP your money's value - or grow it a little bit - until you re-invest it elsewhere.
I am not a CPA, attorney, insurance, or financial adviser and the information in this videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. If stocks or companies are mentioned, I May have an ownership interest in them - DO NOT make buying or selling decisions based on my videos alone. If you need such advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. or financial adviser. Linked items may create a financial benefit for Moneywithmike®.
Some of the card links and other products that appear on this video are from companies which Moneywithmike® will earn an affiliate commission or referral bonus.
For business or one-on-one consulting inquiries, you can reach me at: Moneywithmikebardi@gmail.com
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