Is there such a thing as a non-FDIC savings account, which earns better interest?
Where can I put my money to earn the most interest?
The following ideas can help you make a plan to save and maximize your interest earnings.
- High-Yield Savings Account. …
- High-Yield Checking Account. …
- CDs and CD Ladders. …
- Money Market Account. …
- Treasury Bills.
Which bank gives 7% interest on savings account?
Equitas Small Finance Bank is offering interest rates up to 7 percent on savings accounts. The average monthly balance requirement is Rs 2,500 to Rs 10,000. DCB Bank offers interest rates of up to 6.75 percent on savings accounts. Among private banks, this bank offers the best interest rates.
What type of account is best for savings?
High-Yield Savings Account
High-yield savings accounts—typically found at online banks, neobanks and online credit unions—are savings accounts that offer a higher APY compared to regular savings accounts. This is one of the best types of savings accounts to maximize your money’s growth.
Which bank has highest interest rate for savings account?
Savings Bank Account Interest Rates of Banks
| Name of Bank | Rates of Interest (p.a.) |
|---|---|
| Citibank Savings Account | 2.50% p.a. |
| Axis Bank Savings Account | 3.00% p.a. to 3.50% p.a. |
| IndusInd Bank Savings Account | 4.00% p.a. to 5.00% p.a. |
| DCB Bank Savings Account | 2.75% p.a. to 6.50% p.a. |
How can I get 5% interest on my money?
Here are the best 5% interest savings accounts you can open today:
- Current: 4% up to $6,000.
- Aspiration: 3-5% up to $10,000.
- NetSpend: 5% up to $1,000.
- Digital Federal Credit Union: 6.17% up to $1,000.
- Blue Federal Credit Union: 5% up to $1,000.
- Mango Money: 6% up to $2,500.
- Landmark Credit Union: 7.50% up to $500.
What is the best thing to do with a lump sum of money?
Pay down debt:
One of the best long-term investments you can make is to pay off high-interest debt now. This is especially true of credit card debt, which is likely costing you between 10% and 15% a year, which is much more than you can reliably make by investing your money.
How can I get a high-interest rate on my savings account?
So, if you have some money set aside and want to earn a higher rate of interest without taking too much risk, consider these strategies.
- Take advance of bank bonuses. …
- Consider certificates of deposits. …
- Build a CD ladder. …
- Switch to a high-interest savings account. …
- Consider a rewards checking account.