So over the past few months interest rates have gone up a ton when it comes to your high yield
accounts and so that's exactly what we're going to be going over today i'm going to go over the top
bank accounts that i've found that have the highest apys right now and honestly i don't really
care if they're checking or savings accounts i'm just interested in those particular rates and so
those are the banks that i'm going to be talking about but i do care that all of them are fdic
insured so we definitely have that checked off and then also i've noticed that all of these banks
that i've done research on none of them have any fees so you're not talking any fees and they're
fdic insured and then we're going to go over the highest rates that i've found out there now if
you are interested in doing your own research on a whole bunch of competitive bank accounts
then definitely check out bankrate.com i've got an affiliate link for them in the description below
so check them out if you have an interest because they have a ton of different competitive bank
accounts that you can do your own research on and decide which one is going to be best for you and
honestly it's just a one-stop shop that you can go to find a whole bunch of different financial
products out there okay so the first bank we're going to be talking about happens to be my number
one pick and it's first on the list and it goes to sofi because these guys are actually paying out
1.80 apy right now which is incredible and it's also a checking and a savings account so you can
basically just have the best of both worlds but the one caveat here is that you do have to have
direct deposit hooked up to your account in order to get 1.80 percent apy or if you don't right now
it's currently paying one percent if you don't have direct deposit set up so if you just have
a normal job and you want to have your checks sent into that bank account then it is perfect because
it is an extremely high rate and they don't have any fees or anything like that and if you don't
know much about sofi i would definitely look them up because they have a ton of different financial
products that are extremely competitive like for instance they have really good personal loan
rates they even have a credit card with really good rewards and they have different investment
options so not only do they have banking but they have basically everything else that you would need
in the financial world so definitely check them out if you're interested because just alone their
checking and savings is really good but their other products are worth looking into as well
sofi also has over 55 000 atms that are fee free and then on top of that they'll also give you up
to a 300 sign up bonus for signing up for their checking or savings account and then setting up
direct deposit now obviously there are tiers and rules that you have to follow but if you meet
their criteria within the certain time frame then you can get up to a 300 bonus just for signing up
so if you are interested in getting a new bank account then i would definitely suggest looking
up sofi and at least doing some research on them because they have some excellent
products out there now the next high yield account that made my list goes to cat bank
and i'm talking specifically about their savings connect account which is currently paying 1.65 apy
which is incredible considering the fact that the only thing you need to do is have a 100 minimum
deposit to get it started so all you have to do is just come up with a hundred bucks and then
it's a very straightforward bank account that also doesn't have any fees and it's just a very simple
solution to park your money in a normal savings account cit bank is well known and they've been
around for quite a while so if you want to stick with the bank that a lot of people have heard of
then i would definitely do some research with them because they are fairly well known out there
now the next bank that made my list goes to citizens bank and the account that i'm talking
about is called their access savings which is currently paying 1.75 apy and it's also a savings
account so it's very straightforward you don't need to have direct deposit or anything like that
but the one thing you do need is a five thousand dollar minimum deposit so if you do have that much
cash to invest in a specific bank account then it is worth looking into because point seven
five percent is extremely competitive and that is the only thing you have to worry about there
but obviously if you don't have five thousand dollars then it's probably not worth looking into
but it might be considering their rate is quite a bit higher than some of the others
if you do have that minimum deposit that you can meet at the five thousand bucks i've also noticed
that citizens bank has been upping their rates quite consistently and that is a good thing for
a bank account because obviously if you have your money sitting it's a good thing if those rates are
continuously going up versus some banks they take quite a while to even up their rates just a little
bit so that is a good thing considering citizens bank is on top of that now if you are curious what
the highest interest rate is out there right now on a particular bank account the one specific bank
that i found with the highest rate goes to cfg bank and honestly I haven't heard of them before
but they are fdic insured and they're pretty normal everything like that but their rate right
now is 2.05 percent apy with a minimum deposit of just a thousand bucks so if you have a little bit
of cash that's the highest rate that i found and honestly i did flip around their website just a
little bit and i wasn't too enthused about it but if the only thing you care about is the interest
rate that is one of the highest that i've found out there right now and on top of their money
market account cfg bank also has extremely high cd rates as well so if you're looking to park
your money somewhere and you want it to be one of the highest rates out there definitely look into
these guys but like i said i'm not too enthused about their website but if that kind of stuff
doesn't really matter to you and you only care about the rates then definitely check them out