Increase bank savings account rate
Many high yield savings accounts of just a few years ago are now low-yield savings accounts. I get just .75% on my account that brought in yields of 2 and 3 percent just a few years ago. The rate continues to drop, leaving me to wonder if it’s time to find a better rate. According to the going rate on Bankrate, a yield of 1% or less is average.
BancVue advertises it can increase your yield through its product Kasasa. Community banks and credit unions throughout the country are joining the program, and even if a bank in your zip code isn’t part of the program you can join and bank online.
To get a higher yield, you often need a higher balance. This program is trying to change that with no minimum and ATM fees that are reimbursed for its high yield checking account.
There are more than 350,000 consumers with a Kasasa checking account, and they’ve earned more than $70 million in interest this year.