coins, money, dollars, tightHigh interest savings accounts are no longer earning high interest. A new way to earn money for saving money.Many high yield savings accounts of just a few years ago are now

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.

The rates vary by bank or credit union you choose, so shop around. I couldn’t find the rates on the company’s site, so it may take some phone calls. The company told me the highest rate is offered at Pelican State Credit Union and it’s 4.01%. That’s in Louisiana. The company also sent me a handful of banks and credit unions offering rates in the 3% range.
There are high-interest options out there. You just have to look a little harder to find them.
What do you think of investing your money in a smaller, community bank that may or may not be in your neighborhood all so you can earn 3-4% on your money?