The Highest Interest Bank Accounts of 2022! - YouTube

So I did quite a bit of research on the top banks  that pay the highest interest rates right now in  

2022 and honestly most of the high-yield accounts  out there had the same rate and most of those  

right now were about 0.5 percent but i did find a  couple banks specifically that were upwards of one  

percent so i'm going to talk about those first  and then i'll talk about the other banks that  

did make my list so hopefully this video will go  by pretty quick for you guys now i do understand  

that current rates are not even close to what they  were just a few years ago but at least they are  

starting to creep back up so if you do have some  money that you're just saving for a rainy day or  

maybe you're saving up for a house or a car and  you're probably going to use that money within  

the next five years then i would definitely  stick that money in a high yield account  

so that you can at least earn some interest rather  than nothing because i can almost guarantee you  

if you check the interest rate at your local  bank account you're probably earning close to  

zero interest on the money that you have in those  accounts and i also want to mention that cd rates  

are also going up as well so if you ever want to  lock in your money for a certain amount of time  

then you can guarantee yourself a certain interest  rate it's not going to be super high but it might  

be a little bit higher than what you can get in a  high yield account especially if you're not going  

to be doing anything with the money just keep it  locked in for like 18 months 36 months and you  

can earn a higher yield on those cd accounts so  definitely do some research on those if you guys  

are interested in locking in your money so the  first bank account that i want to talk about goes  

to t-mobile money and i had no idea that t-mobile  the cellular service company actually had a really  

high interest savings account and checking account  so the cool thing here is that you don't have to  

be a customer of t-mobile in order to earn one  percent on your money in their savings account but  

if you do want to earn up to four percent you do  have to be a customer of t-mobile and it's only up  

to the first three thousand dollars and then they  have a couple other rules that you have to follow  

but that is extremely competitive because if you  just had a three thousand dollar savings account  

that three thousand dollars could be potentially  earning you four percent which is about the  

highest that you can get anywhere t-mobile also  advertises that they don't have any fees or  

minimum deposits and the cool thing about  most high-yield savings accounts out there is  

that pretty much everybody that you're looking at  they're not going to have fees or minimum deposits  

and if you do see a minimum deposit it's probably  about a hundred dollars and for some cd accounts  

out there it's about 500 bucks so honestly it's  not that hard to get into any of these companies  

but t-mobile specifically this is what they're  advertising right now so if you want to start  

earning at least one percent on your money then  definitely check out t-mobile money because they  

have one of the highest interest rates right now  in 2022. now the next bank account that i want  

to talk about goes to sofi because these guys  actually had the highest interest rate that i  

found out of all of the different banks out there  so we're talking all the high-yield competition  

sofi was the best now if you haven't heard of sofi  before don't worry about that they basically sell  

all sorts of different financial products so we're  talking personal loans student loans mortgages  

mortgage refinancing even investing and they  also have a savings and checking account with  

the highest yield that i found out there right  now sofi's interest rate is 1.25 percent so that  

pretty much beats all of the competition out there  including t-mobile that i was just talking about  

but keep in mind in order to get 1.25 percent  you do have to set up direct deposit that's  

pretty much their only rule now if you don't set  up direct deposit with them they'll still pay  

0.7 which is extremely competitive considering  most high-yield accounts out there are about  

0.5 percent right now so 0.7 is still beating  all of the competition out there but if you do  

set up direct deposit you can expect 1.25 with no  limit on the money that you have in those accounts  

and they also have a sign up bonus right now  where you can get up to three hundred dollars  

based on hitting different tiers with your direct  deposit so obviously just pay attention to that  

fine print but if you are signing up with them  you can get up to a three hundred dollar bonus  

sofi also advertises that they don't have any fees  or minimum account balances so obviously these  

guys are extremely competitive as well and like i  said there's no limit to getting the 1.25 percent  

so if you do have a large chunk of change that's  just sitting around then definitely check out sofi  

for their checking and savings account because  they have the most competitive interest rate that  

i've found out there now the other banks that i'd  recommend all have the exact same interest rate  

right now of 0.5 percent obviously that has  been creeping up a little bit over the last  

year and a half but these banks are nationally  known so if you're not interested in checking  

out t-mobile money or sofi definitely check out  american express discover marcus and ally bank  

they are all exceptionally competitive i  happen to use american express because it  

links right up to my credit card and it makes  things very seamless so definitely check out  

those companies if you're interested in looking  at more high-yield bank accounts but just keep  

in mind right now they aren't as competitive  as the other two that i was talking about  

and as far as risk goes if you're worried about  losing any of your money all of these accounts are  

fdic insured but keep in mind that these interest  rates are variable so technically they could go  

down but if we're following interest rates the  way that they normally happen is that they are  

in an upward trend right now so hopefully you'll  just make more on your money rather than less