The Highest Bank Yields For Your Money

The interest rates that you are earning at many of the nation’s largest banks are downright pathetic.  Bank of America and JPMorgan Chase is paying a 0.05% APR on their savings accounts. These rates are so bad that you couldn’t be blamed for wanting to hide your money under your mattress. Fortunately, there are a few banks that are showing the money to people serious about earning dividend income from their savings accounts.

These are the best yields that you can get on a bank account right now.

Discover Bank 1.20%

Flagstar Direct 1.10%

ING Direct 1.00%

Ally Bank 1.00%

Igobanking 1.00%

 

I know that these interest rates may not seem like much but they are great compared to the traditional bank rates. You are getting 20  to 24 times the rate of return on the average savings account.

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4 Responses to “The Highest Bank Yields For Your Money”

  1. And these rates will go up if the economy ever turns around and the Fed raises rates.

  2. @Kevin – Fed is staying the course right now, so I don’t see those rising much higher until the fall at the earliest.

  3. Although these rates are considered great in our current low-rate environment, I wouldn’t go anywhere near these accounts!

  4. Pretty pathetic rates. But that’s macro economic management for you. The rates are slow to entice people to take out their money and invest in other things like stocks and shares etc to get the economy growing again.

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