Chase is one of the most popular banks in the world — but when it comes to offering interest on savings, it’s one of the worst.
With Chase’s standard savings account, users earn just 0.01% APY — meaning a $10,000 account balance would earn you just $1 in interest every year. Top high-yield savings accounts (HYSAs), meanwhile, are all offering around 3.80% APY, which means you could be earning $380 a year on that same $10,000.
Here are three of my favorite high-yield savings accounts worth dumping Chase for today.
1. SoFi Checking and Savings (Member FDIC)
I opened my own SoFi Checking and Savings (Member FDIC) account a few months ago, and I haven’t regretted it for a second. With SoFi®, you’ll get:
- Annual percentage yield (APY) of up to 4.50% on savings with direct deposit
- Up to $50 in no-fee overdraft coverage with direct deposit
- Access to paychecks up to two days early with direct deposit
- No account fees or minimum deposits
- FDIC insurance up to $250,000
The sky-high APY is one thing. But I also love SoFi®’s extra perks like early paycheck access, $50 in no-fee overdraft coverage, and more. For its high APY and much more, SoFi® is my go-to HYSA recommendation.
Ready to get started? Check out our full review of the SoFi Checking and Savings (Member FDIC) account today.