Rejoice frugal savers! The current highest interest rate savings account is Wealthfront!
Who is offering a rate of 2.57% at the time this is written.
And money is insured up to 1 Million by the FDIC (when most are insured up to 250k).
I normally don’t mention savings a lot on this blog because my focus is primarily on investing and trading stocks.
But the rate offered is so high that I just HAD to write about it and inform my readers.
So far, I’ve told my friends and family to take advantage of the high rate savings so they can best put away their emergency funds in this account.
Because it’s not only a liquid account but at a pretty high rate (as far as most interest rates go).
Wealthfront is an online platform for saving and investing your hard-earned cash.
And the high-rate savings account offered is their savings account.
For those of you already aware of my 3 Easy Personal Finance Tips, you know that having a liquid emergency savings fund is SUPER important.
And it has to be in an account that allows easy access.
So if you didn’t get a chance to look into this already, do so now!
It won’t be the highest interest rate savings account for too long.
Why High Interest Rate Savings Account Matters
Most people have at least two accounts: savings and checking.
But what they don’t know is that leaving too much money in their checking account can actually be harmful.
Because most checking accounts don’t earn interest!
If that money was instead in a high yield account, it would help generate a little bit of extra income.
Sure it’s not much but better than zero.
So if you’re planning on saving for emergencies, a future home or retirement, it’s better to leverage high yield rates as much as you can.
In addition to all the other personal finance tips you have implemented.
But if you need a little more help, feel free to look around my blog.
There’s lot of information sitting around!
What’s stopping YOU from opening a high yield savings account? Leave your thoughts below!