In Today’s world inflation is constantly on the rise, experts say it is as high as 2.5 – 3%. You might be thinking so how does this affect me? Say you have a checking account with a total of $100,000 earning your no interest with an inflation rate of 2.5% you are losing $2,500 dollars a year and that’s on the low end of measurements so you may be losing even more than that! To ensure that your money will not be rotting away, you should look into a savings account that will earn you enough interest to combat this loss. Here are the top 5 savings account that can help you beat inflation. All these accounts are FDIC insured and easy to maintain. So why continue to sacrifice your cash for nothing. Try to remember that many may argue that investment have a better rate of return but unlike interest it is not guaranteed.
2.51 Annual Percentage Rate
Wealthfront was a Robo Investor but they also manage your cash and their latest account offer an unbeatable rate of 2.51 APY which is record breaking.
https://www.wealthfront.com/cash
Empower Bank
This may be your winner even though Empower does not offer the most in terms of Annual Percentage Yield, combined with its debit card rewards which earn you 1% on all your purchases. Empower during certain months or by its referral program doubles up rewards it offers throughout the year earning you 2% on your debit card purchases and 4.30% Annual percentage yield on your savings. Empower is managed exclusively on your phone app, you can even direct deposit to your savings or simply transfer there are no monthly or annual fees or minimum deposit requirements.
2.25% Annual Percentage Yield
Goldman Sachs is already considered one of the top banks out there so it should not be a shock that their online counterpart is doing extraordinarily well. If you already invest with them why not take the next step to letting them make you more of your money.
2.30% Annual Percentage Yield
When it comes to higher rates many banks have a criterion amount for people to meet, fortunately HSBC Bank’s direct savings account will start earning you this rate on a modest $1.00 deposit. So, what are your waiting for sign up today and begin earning.
2.45% Annual Percentage Yield
In terms of Annual Percentage Yield, we have a clear number 1 here CIT Bank is an online bank that has blown it competitors out of the water.
https://www.cit.com/cit-bank/tiered-savings-account-savings-builder-direct/
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