Wealthfront: Interest rate paid on deposits has risen

Consumers’ savings rates have steadily declined over the years, and perhaps it isn’t surprising. Banks have paid little to no interest on savings for the last couple of decades.

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But the rise of online banks and fintech firms has been a game-changer. With less overhead, these firms can pay higher rates of interest while still offering FDIC protection.

Earlier in 2019, Wealthfront launched a simple savings account that paid the highest interest rate available. Recently, the rate has gone up to 2.51 percent, significantly higher than the U.S. government’s 10-year Treasury bond.

What makes the Wealthfront Cash Account particularly compelling is the fact that there are no fees; you can open an account with as little as $1 and withdraw your money at any time. Deposits are FDIC insured up to $1 million, which is more than most banks. Attribution: Full Article by Mark Huffman

Yes. That means: Your cash can do more.
Earn 2.51% APY with no fees, unlimited transfers, and FDIC insurance covering up to $1 million.

Whether you’re building an emergency fund, saving for a big expense like a down-payment, or holding on to funds until you are ready to invest, Wealthfront high-interest cash account is a secure place to grow your cash and reach your short-term goals faster.

Wealthfront: Grow your savings faster with a 2.51% APY cash account.

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