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How to stimulate your savings with High Interest Savings

Sit back, relax, and watch your money grow in Quontic’s High Yield Savings account, a free online bank account.

One of the first pieces of financial advice many of us are ever given is to “save for a rainy day.” It makes sense, of course, but it’s not always that simple. For many – and especially in the past year – living paycheck to paycheck is a reality, and even having a savings account is an accomplishment. 

Right now, if you have received a stimulus payment or you’re waiting on a tax refund and you don’t need to put it all towards bills, you may be tempted to reward yourself with something like that new shirt that’s been sitting in your cart for a couple of months, or even to make risky investments to try and earn more. Instead, consider making a smart financial move and putting some of that money in a high interest savings account. 

So, how exactly can you stimulate your savings with a high yield savings account? Curious what account has the highest interest rate? Sit back, relax, and watch your money grow in Quontic’s High Yield Savings account, a free online bank account.

The benefits of a high yield savings account are: 

  • Earn higher interest and save more money
  • Easily withdraw funds if you need to
  • Track your savings by keeping it separate from your spending account
  • Transfer and deposit funds easily online
  • Keep your savings safe with zero risk when you deposit your money at an FDIC-insured bank

But not all high yield savings accounts are created equal. The national average for annual percentage yields is 0.46% as of May 2, 2024, according to the FDIC. And that’s the extent that many traditional, brick and mortar banks can offer. However online banks, like Quontic, generally offer higher rates because we have fewer overhead costs. Because we operate as a free online bank, we’re able to cut costs and give them back to our customers.

What does “high interest” mean when we talk about a high yield savings account? At 4.50% (*as of 05/2/2024), Quontic offers a high yield savings account rate that is almost ten times the national average. If you’re able to hold on to some of that stimulus or tax refund money, put your extra cash towards a stable, lucrative financial move. Our high yield savings account has no hidden or monthly service fees. You only stand to gain by earning the best interest rates around. And at Quontic, interest is compounded daily and credited to your account every month.

Not only does our high yield savings account offer one of the highest interest rates among traditional banks and online banks, it’s also one of the most reputable products on the market. Bankrate named it one of the best HYS accounts in April 2021. It also received a 4 star review on Business Insider. Industry experts have recognized its value as a viable account that earns high interest rates while keeping your money safe and charging no hidden fees. 
Opening an online high yield savings account with us can be done in 3 minutes or less from anywhere. To get started, visit: https://www.quontic.com/banking/savings/high-yield-savings/.

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