How to earn almost 1% interest on a savings account?
The offer:
https://www.discover.com/online-banking/savings-account/
Overview:
Discover Bank offers 0.95% on deposit savings account with minimum deposit balance of $500. For $5,000 that's almost $50 yearly. Much more than the rest of the banks. To add a cherry on top, they give you $100 if you deposited $15,000 or more.
Pros:
Highest interest paid to savers on the market today.
$100 bonus for the heavy savers.
Easy to set up.
6 withdraw transactions for free a month (Bank check is not considered a withdraw transaction)
No hidden fees.
Cons:
If you need the money, this one isn't for you.
If you don't bank with Discover the account might feel lonely...
Bottom line:
I think it's a great offer, and I sure did take it.
The "HERO" smartcoin has its stable value increased by 5% a year. It's not a bank but a cryptocurrency, no need to trust anyone. Every coin is provably backed by 200% of its value on the Bitshares blockchain. Who can beat that ?
Here is the official website, they plan on doing much more than just a coin.
billionherocampaign.com
@glitterfart I agree with you! No one can beat cryptocurrency upside, and this crypto you mention together with smartcash and others, offer a good monthly percentage when just staking. Thanks for sharing about this one. upvoted your comment. @gold84
Guys, this is a SAVINGS account, not an investment.
HERO is a saving account, not an investment ;)
@glitterfart please ?
For Crypto community 1% is nothing :)
Personally I would rather own bitcoin :)
It's not a contradiction....
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@bellyrubbank give you 45% APR , 20 SBD minimum.
Such a good deal with Discover
One of the best...
Good post but I don't think that it's a great offer.
Annual inflation is usually between 1% to 2%. For the next couple years, it will probably be even higher. With 0.93%, you are actually losing money.
If you plan on using this as your main savings account, and invest your money somewhere else, you are much better off somewhere else.
If you want to open a savings account solely to dump money in there and leave it, you should spend it on mutuals, stocks, even just inflation protected bonds.
Doesn't sound like a terrible idea for some people
I think their online saving account translates into a 1.20% APY and requires no minimum deposit or monthly maintenance, which is great. That said, other things I'd consider is that they have only 1 physical branch (though there are 60k surcharge free ATMs), and may not be for people who have a need to transact in a physical branch and their $15 withdrawal fee for > 6 transactions is a little pricey.
The withdrawal fee is technically not their fault. You have to love US banking laws...
yeah but it generally ranges between $3-$15 for most banks, so towards the high end of the range.
It's not a checking account. So you need not really transact on a daily basis. Thus you not need a physical branch as well. Also, 0.95% is 1% APY.
However, mobile one could be, there will always be a reason to visit a physical branch. In a study conducted by big banks, 90% of people prefer to visit bank branches to conduct financial transactions (purchase certified checks, get docs notarized, convert bills, changes etc) and more importantly learn and understand about other financial products. And not to deny the benefit it brings to certain sections of the society (e.g. Seniors), who are not as comfortable with mobile banking. Also the APY is 1.20% and not 0.95%. Thanks
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