Because number one is the highest Interest rate which is 4.10 on every Dollar for balances up to hey guys in This video I want to share with you the Best high yield savings accounts that You need to sign up for today okay you Get to earn way more with interest with These than your normal traditional Banks And it compounds for example I just made A hundred and twenty eight dollars in Interest last month so my overall Balance has now increased so when the Next month passes I get injuries on that New amount and it keeps going up month After month after month and it's Completely risk-free you guys ready to Get into this let's go okay so a couple Of weeks ago I talked about why you Shouldn't put your money in the bank Because the banks are only using you to Make more money off of your money so you Should become your own bank now I'm not Going to get into all that details in This video but definitely check out that Video just so you can see what I'm Talking about and how you can build cash Flow and multiply your money three to Five times off the same dollar okay it's A good one so I'm gonna put that video In the description below so you can Check it out after this one but before I Go any further I want to make sure that You guys like this video share it Subscribe hit that Bell for
Notifications because after you Implement these strategies I just made You guys some money and I didn't charge You a dime okay so thanks in advance all Right now let's get into the best high Yield savings accounts the first Question is what is a high yield savings Account now it's a savings account that Earns higher than average interest than Normal traditional Banks so hence the Name high yield savings account so There's always a catch right why would These Banks offer such a high interest Rate now my understanding is that most Of these high yield savings accounts are All online banks or at least most of Them are so they don't have to worry About overhead or those brick and mortar Expenses that traditional banks have so These online banks can pass those cost Savings on to you and make you want to Bank with them because let's be real Guys banks are in the business of making Money they make money from your money so The more money that they have in the Bank the more money they can make so They want to make these attractive Offers so you can bank with them so they Can make more money so that's how this All works but we can use this to our Benefits so because they want to get These attractive offers to us we can Earn way more than that point zero one Percent that chase has and all these
Other traditional banks have right now And put them in a high yield savings Account now this is also much different Than putting your money in a CD so a High-yield savings account is an online Savings account that earns interest and Allows you to access your money at any Time a CD is a savings account that lets You earn interest but when you deposit Your money you agree to keep it in there For a specific amount of time so you can Access it early but if you do you may Have a penalty with how your savings Account you don't have that you can Access this money anytime so it's kind Of a no-brainer on where you should put Your money but it's also important to Know that these interest rates with high Yields accounts they're variable meaning That they can change anytime I know when The pandemic hit these rates went way Down and they're just now getting back Up to where they seem you know Attractive you know makes more sense to Bank with them than your traditional Banks and the main two reasons you even Want to put your money in this kind of Bank is number one it's a really good Place to have your emergency fund and if You're saving for a down payment for a House a wedding or something where you Don't need the money right away but you Want to have access to it and you don't Want to just sit in the bank not making
Anything this is the perfect place for It and it's also risk-free and you won't Lose any money opposed to if you put it In the stock market or something like That and for those who don't know what An emergency fund is it's something Everyone should have or at least work Towards having and it's when you want to Have at least six months of your living Expenses saved up and you want to have It saved up in a high yield savings Account like this now the thought is That if you lost your job you think that You'd be able to get a new job within Six months so you want to at least have Six months of your living expenses saved Up just to cover your expenses for if You don't have a job or any unexpected Expenses now everything that I'm about To mention is FDIC insured which means If the bank ever failed in whatever way Which is not likely but it could your Money is insured up to 250 000 Guaranteed so that's why you should Never have more than 250 000 ever Sitting in the bank and I know most of You are like okay yeah no problem with That you know but I did want to at least Let you guys know don't have any more Money in the bank other than that Because it's not guaranteed it's not Insurer it's not safe so just make Another bank account if you have to and Just put extra money in there and start
Fresh if you want to have that much Money in the bank let's get started with This list and then I'll share with you Who I'm with and why so the fifth best High-heeled savings account on my list Is simply anything they offer 3.5 apy Which stands for annual percentage yield And they offer no minimum deposit which Means that you can just get started Today without putting any money in there But the idea is to put some money in There so you do want to put some money In there and if you don't do that they Will close your account in 60 days so That's just one of the things that you Want to know but go ahead this is a Great one that you can start with but This is just number five you got some More going on number four is Lending Club they offer 3.6 apy and you have to Have a hundred dollars a minimum deposit So you have to have at least a hundred Dollars to deposit to open your account They also don't have any monthly service Fees which many traditional Banks do Have so this is a great benefit number Three is Brio direct which offers a 3.75 Apy and you only need 25 to deposit to Open your account and they also don't Require any monthly service fees and I I Just don't have things bad to say about These companies these are all great Companies that I'm talking to you guys About so number two PNC Bank they offer
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A four percent apy and it doesn't Require a minimum deposit to get started Either or a monthly service any monthly Service fees and this list keeps getting Better and better because number one is The highest interest rate which is 4.10 On every dollar for balances up to a Million dollars they have ATM refunds And you can open with just ten dollars So these are the top high yield savings Accounts that you guys should really Consider signing up with now which one Of these do I bank with anybody want to Guess None of them because honestly I didn't Know about any of these until I started Doing some research for this video I'm With Capital One and they offer 3.3 apy And I'm very happy with them I've had no Issues with them I can get my money Quickly all I have to do is transfer my Money to my local bank I've never had Any issues so the question is will I now Move my money on these higher yield Accounts I just I don't know you know But I will let you know if I do and just So you guys know I'm always sharing my Money decisions and things that I'm Doing with my email list so if you're Not my email list make sure you guys Sign up today because I also just bought A business in the box that's supposed to Earn me a net monthly income of five Thousand dollars of net revenue every
Single month that runs completely on Autopilot now I have put a huge amount Of money into this just buying this Business that's supposed to generate all These profits for me and I just hoping It works out it's supposed to start in January and I'm sharing all that Information with my email subscribers And all the other things I'm just Dibbling dabbling in so make sure you Guys are part of my email list so you Can get in like info on like how this Stuff is working to see if this is Something you want to consider too I'm Always trying new things and I want you Guys to be a part of this too because I Am here to make more money and I want You guys to do the same so if you're not On my MLS make sure that you sign up Today and while you're still watching This put it in the comment section say Hey wit I made it and let me know if Which one that you want to sign up for Which high yield savings accounts do you Want to sign up for and if you guys are Wondering about how you can become your Own Bank check out this video right now On how I was able to talk to someone That I'm doing this right now also I am Becoming my own thing so see how that's Possible all right thanks for watching Guys have a great day
