Whether you’re planning to save money from your paychecks towards a new car, down-payment on house or a rainy day fund, you should be aware that you can do so while accruing 25 times the national average earned interest rates.
Better for short-term or long term?
Offering a 2.51% APY on deposits it outright beats the current inflation (May 2019) of 1.9% and also leads the market with it’s no requirement policy (and is FDIC insured). It does not offer the highest yields as offered by TABbank which offers 4% (but has requirements to meet every-month). A close second is the Checking Account offered by All America Bank (2.40% APY).
This account is good for short term (<5 years) thanks to free unlimited transfers as many times as you want. It is good for parking money towards long term savings goals but is not a substitute for investments. Wealthfront does offer an investment plan too but I’ll cover that in a separate article (website link). You may however use THIS LINK to create a funded account and waive the management fee (for investment account)
How does your money grow over time?
Taking a sample $1000 deposit,
|Year(s) later||Balance (including principle)|
Note: Interest compounds annually
If you wish to sign-up for the WealthFront cash account, you may use the following link:
CLICK HERE TO SIGN-UP (Get $5,000 managed for free for each friend that opens and maintains a funded account)