Best Bank Account Bonuses for October 2022 (2023)

With inflation on the rise, every dollar counts and banks are taking advantage of the moment by offering sizable new account bonuses to customers. If you're in the market for a new bank account, a bonus incentive can be tempting. Some banks pay big cash bonuses to attract new customers -- ranging from a few hundred dollars to $500.

That said, abank account bonus shouldn't be your primary reason for opening a new account. Choosing a bank account is a consequential decision for your finances and there are many factors to consider, including monthly fees and branch access. Finding the best fit will require research and consideration.

Furthermore, new account bonuses may be enticing, but you'll likely have to jump through several hoops before you actually receive the bonus. Banks generally require a direct deposit to fund the account over several months before a bonus is released. There may also be minimum balance requirements to maintain before any bonus will be paid out. New accounts could even have a monthly fee assessed that can eat into the value of the bonus incentive. Also, if you're willing to meet all the requirements just for a temporary period (in which you just receive the bonus and plan on closing the account, aka bank account churning), keep in mind that some banks will charge an early termination fee that furthers dilute the benefit of opening a new account.

However, if you've narrowed down the choices and a bonus incentive can help you make this decision, then consider it the cherry on top. Here's our list of banks with attractive account bonuses and reasonable requirements, ranked in order of the highest bonus available.

BMO Harris

Highest bonus paid

Cash bonus: $200 or $350 for premier checking

BMO Harris has three checking accounts that come with bonuses when you first sign up. If you open a Smart Advantage account -- Harris's base checking account -- you can earn a $200 cash bonus if you receive $4,000 in qualifying direct deposits within the first 90 days. The same goes for Harris's Smart Money account, which offers more premium checking account features for $5 per month, including no overdraft fees.

If you go with Harris's Premier checking account, though, you can get a $350 cash bonus if you make $7,500 in deposits within the first 90 days. This account comes with even more perks but comes with a hefty $25 monthly fee (but that can be waived).

This offer expires Dec. 30, 2022.

Fifth Third Bank

Easiest account to qualify

(Video) Best Bank Account Bonuses for October 2022! $1,120 in Bank Account Bonuses! #SideHustle

Cash bonus: Checking account bonus for $250

Fifth Third Bank offers bank accounts with no monthly fees, which is great because you can get a $250 bonus if you open a checking account. With Fifth Third Bank, it's quick and easy to score this bonus (at least, compared to the hoops other banks require). All you need to do is open a new checking account and receive at least $1,000 in qualifying direct deposits within 90 days of opening the account. Fifth Third Bank will then deposit your bonus 10 business days later.

This offer expires Dec. 31, 2022.

TD Bank

Earn a bonus for opening both a checking and savings account

Cash bonus: $200 for checking; $300 for savings

TD Bank is the only bank on this list that offers bonuses for both its checking and savings accounts. In total, you could score a $500 bonus if you open two accounts.

You can get a $200 bonus if you open a Convenience Checking account and receive $500 or more in qualifying deposits within 60 days. This account has a $15 monthly fee, but you can waive that if you maintain a $100 minimum daily balance, or if you're a student or young adult ages 17 to 23. With TD Beyond Checking -- which has a $25 fee that can be waived -- you can earn a $300 bonus if you receive $2,500 in deposits within 60 days of opening this account.

And with either TD Beyond Savings ($15 monthly fee) or TD Simple Savings ($5 monthly fee), you can get a $200 bonus after you deposit $20,000 or more within 20 days and maintain that balance for 90 days thereafter.

This offer expires Oct. 31, 2022.


A wide range of bonuses

(Video) Best Credit Card and Bank BONUSES October 2022

Cash bonus: $50 to $300 for checking

SoFi (short for "Social Finance") is an online bank that offers a range of bonuses. To qualify, you must open a checking account and receive a direct deposit from your employer, payroll or benefits provider. How much you earn depends on the amount deposited within 30 days:

  • $1,000 to $1,999 in direct deposit: $50 cash bonus
  • $2,000 to 4,999 in direct deposit: $100 cash bonus
  • $5,000 or more in direct deposit: $300 cash bonus

This offer ends Dec. 31, 2022.

Cash bonus: $200 for checking

Chase is a national bank that has branches in just about every state in the country. Though its certificates of deposit and savings accounts aren't particularly attractive in the market today, Chase is offering a good bonus deal for opening a new checking account. You can get $200 when you open an account and receive a deposit of any amount within 90 days from your employer, a pension or a government benefit (including Social Security). The only catch is that you must keep the account open for more than six months to keep the bonus.

This offer expires Oct. 19, 2022.

M&T Bank

A solid bonus that might take a while to collect

(Video) Best High Yield Interest Savings Accounts October 2022

Cash bonus: $200 for checking

M&T Bank also offers a bonus for opening a new checking account -- but it could take a long time to get it. This bank requires you to open a checking account and receive $500 in qualifying direct deposits within the first 90 days. But you need to wait up to 90 additional days to receive the bonus. In total, that could be half a year before you get your money. The upside is that M&T Bank offers a base checking account without pesky monthly maintenance fees.

This offer expires Dec. 31, 2022.

Best Bank Account Bonuses

Bank Bonus offer Required deposits
BMO Harris $200 to $350 $4,000 to $7,500
Fifth Third Bank $250 $1,000
TD Bank $200 to $300 $500 to $20,000
SoFi $50 to $300 $1,000 to $5,000
Chase $200 None
M&T Bank $200 $500


Are there other banks with new account bonuses?

Yes. Our list here is by no means exhaustive, and we based our picks on the bonus amount and its accessibility. Some banks didn't make this list because the bonus amount was too low or too cumbersome to obtain.

For example, Aspiration -- a FinTech company, not a bank -- offers a $200 bonus for opening an account, but you have to spend $1,000 or more within 60 days. Likewise, Alliant Credit Union offers a $100 bonus for opening an account, but you have to wait a year before receiving the bonus.

But there are other banks you may consider, too, depending on your particular situation. If you want to have a checking, savings and a line of credit all under one roof, you'll want to check out banks that offer all three of these products.

Are account bonuses worthwhile?

If you're already shopping around for a new checking or savings account, taking a look at bonus offers isn't a bad idea, as it can help you earn some extra cash. But you'll want to mind the monthly fees associated with any account you're investigating.

(Video) Top 5 Best Online savings Bank Accounts OCT 2022. Passive income with High Yield savings account.

Those monthly fees can wipe out your gains, too: If you get a $200 bonus for an account that charges a $25 monthly fee but aren't able to waive the fee, you'll wipe out your bonus gains in eight months.

Moreover, a bonus offer shouldn't override accounts with better perks. For example, in the long run, it might be better to go with a savings account with a high annual percentage yield and a lower bonus than one with a low APY and higher bonus, especially as there are stark differences in the market right now.

What factors should you consider when choosing a new bank?

As you begin your search, ask yourself the following questions:

  • Will I be more comfortable with the option to speak with someone in person?
  • Are there reasons for me to visit a branch in person or can I handle my transactions online?
  • How important is having the latest technological innovations available in a bank?
  • How much do I travel and what type of banking tools do I need to access when I'm traveling?
  • How can a financial institution best help me reach both my near- and longer-term financial goals?

Answering the above questions should help you narrow the choice of whether a traditional bank, a fintech app, or something in between could be the best financial fit overall. Once you have your short list, the next step is to compare the services each institution offers and make note of the fees you may be charged. Services to look for include:

  • Free checking account
  • Savings accounts, money market accounts, and/or certificates of deposit
  • Ability to interface with peer-to-peer transaction services such as Zelle
  • Overdraft protection
  • Loan products
  • Wealth management and/or professional advisory services

What's better, a bank with a high APY or a bank with an account bonus?

Generally, in the long run, it's better to go with a higher APY than a higher bonus. Especially as interest rates rise for savings accounts and certificates of deposit, there are some good high-yield offers out there right now, and they are continuously trending upwards these days. Ideally, you want to combine a stellar bonus offer with a high APY (anything above 1% is considered robust). SoFi, for example, is offering a bonus of up to $300 and offers a checking and savings account at 2.00% APY once you set up a direct deposit account.

Should I sign up for checking and savings accounts with multiple banks to earn bonuses?

You can, but it's not a strategy we recommend for earning passive income. Criteria for obtaining a bonus can be cumbersome, requiring you to keep the account open for a certain length of time, make qualifying direct deposits (sometimes in the thousands) and maintain daily balance amounts, not to mention the monthly maintenance fees associated with many checking and savings accounts.

(Video) Best checking account bonuses October 2022! #freemoney #explore #chase

Also, some banks will disqualify you from a bonus offer if you've reached a negative balance in the past. So, that's something else you want to keep an eye on. Chase disqualifies customers from bonus offers if they've reached a negative balance within the last three years.

If you do decide to try your luck scoring welcome bonuses by opening multiple accounts, it's important to know that you'll owe taxes on any money earned through these signup bonuses.

You should consider a bank account bonus as an extra perk for signing up with a bank, but it's probably not a good idea to go bonus hunting.


Which bank gives 7% interest on savings account? ›

The average monthly balance requirement is Rs 2,000 to Rs 5,000. Ujjivan Small Finance Bank is offering interest rates up to 7 percent on savings accounts. Equitas Small Finance Bank is offering interest rates up to 7 percent on savings accounts. The average monthly balance requirement is Rs 2,500 to Rs 10,000.

What bank is offering a bonus? ›

Best Bank Bonus Offers
BankBonus*Direct Deposit Required?
U.S. Bank$500Yes
SoFi Moneyup to $300Yes
7 more rows

What is the best savings account at the moment? ›

We go into these in more detail in this article, but here's a quick rundown of the top interest rates on savings accounts at the moment:
  • Easy access savings account: 2.81%
  • Notice savings account: 3.00%
  • One year fixed-term bond: 4.50%
  • Sharia savings account: 5.10%
  • Regular savings account: 5.12%

Where can I get 5% interest on my money? ›

Best 5% Interest Savings Accounts
  • Current: 4% up to $6,000.
  • Aspiration: 3-5% up to $10,000.
  • NetSpend: 5% up to $1,000.
  • Digital Federal Credit Union: 6.17% up to $1,000.
  • Blue Federal Credit Union: 5% up to $1,000.
  • Mango Money: 6% up to $2,500.
  • Landmark Credit Union: 7.50% up to $500.
  • Consumers Credit Union: 5.00% up to $10,000.
27 Sept 2022

Where can I get 6% interest? ›

Digital Federal Credit Union offers 6.17%, Blue Federal Credit Union offers 5.00%, Landmark Credit Union offers 7.50%, online bank Mango Money offers 6.00% and Consumers Credit Union and online bank T-Mobile Money, both offer 4.00%.

What online banks give you money for signing up? ›

  • Citigold® Checking Account: Up to $2,000 cash bonus offer.
  • Chase Total Checking®: $200 bonus offer.
  • Citi Priority Account: Up to $2,000 cash bonus offer.
  • Chase Secure Banking℠: $100 bonus offer.
  • Bank of America Advantage Banking: $100 bonus offer.
  • TD Bank Checking: $200 or $300 bonus offer.
3 Oct 2022

What bank pays you to open an account 2022? ›

SoFi Bank: up to $300 bonus

New SoFi Bank customers can earn up to $300 by opening a Checking and Savings account. You'll need a direct deposit to earn the bonus. And the bonus is based on the amount of your total qualifying direct deposits during the bank's 30-day evaluation period, according to SoFi Bank's website.

Where can I get free money? ›

10 Legitimate Ways to Get Free Money Online
  • Join a Focus Group.
  • Start Some Freelance Work. ...
  • Review a Mock Trial. ...
  • Earn While You Shop. ...
  • Sign Up for Surveys. ...
  • Watch Videos. ...
  • Listen to Music. ...
  • Play Games.
30 Jun 2022

What app gives you money for signing up? ›

12 Best Apps and Websites to Sign Up and Get Money
Swagbucks$10 after making a $25 online purchase at a partnered retailer.
InboxDollars$5 instantly upon registration.
MyPoints$5 after completing five surveys.
Rakuten$30 after making a qualifying online purchase.
8 more rows

How do I get my $400 bonus from Wells Fargo? ›

The Wells Fargo checking account bonus will pay you $400 when you open a Wells Fargo Everyday Checking Account and meet their requirements. You can take advantage of the Wells Fargo Checking Account Bonus by opening a Wells Fargo Everyday Checking Account.

Where should I put 50k savings? ›

3. Investing 50k Into Savings Accounts
  1. A high-interest savings account is a top choice if you want a less risky and more 'safe' place to put your money.
  2. Alternatively, you can also consider taxable investment accounts or a cash ISA.

Where can I put my money for the highest interest rate? ›

If you're looking for a safe investment with a solid return, you may want to consider a certificate of deposit (CD). A CD is a type of savings account that typically offers a higher interest rate than a traditional savings account.

Which bank gives highest interest on savings account? ›

Savings Bank Account Interest Rates of Banks
Name of BankRates of Interest (p.a.)
Kotak Mahindra Bank Savings Account3.50% to 4.00%
State Bank of India (SBI) Savings Account2.70%
Yes Bank Savings Account4.00% to 5.25%
Citibank Savings Account2.50%
7 more rows

How can I make 10% on my money? ›

  1. Paying Off Debts Is Similar to Investing. ...
  2. Stock Trading on a Short-Term Basis. ...
  3. Art and Similar Collectibles Might Help You Diversify Your Portfolio. ...
  4. Junk Bonds. ...
  5. Master Limited Partnerships (MLPs) ...
  6. Investing in Real Estate. ...
  7. Long-Term Investments in Stocks. ...
  8. Creating Your Own Company.
26 Oct 2021

Where do millionaires keep their money? ›

Mutual funds and stocks are the most common options that some millionaires and billionaires go through first. Once they're in a stable position, they often buy property to diversify their portfolio and increase their wealth through real estate investment.

Is there a 5% savings account? ›

Although no bank or credit union provides traditional savings accounts that offer a five percent guaranteed interest rate, you can still get close. Currently, fixed annuities are guaranteeing rates as high as 5.25% APY. So, if you're looking for a high-yield savings account, contact us for a quote today.

Should we take your money out of the bank 2022? ›

There are a lot of better choices than holding cash in 2022. Inflation will deteriorate the value of your savings if you decide to stash your cash in a bank account. Over the long run, you'll be better off investing now, even if expected returns are lower than they've been historically.

Can I live off the interest of $100000? ›

Interest on $100,000

If you only have $100,000, it is not likely you will be able to live off interest by itself. Even with a well-diversified portfolio and minimal living expenses, this amount is not high enough to provide for most people.

Which bank pays interest monthly? ›

Did you know that our Bank gives you MONTHLY interest credits versus the industry norm of QUARTERLY interest credit? Thus, you are earning Interest on Interest with IDFC FIRST Bank! In other words, your savings with IDFC FIRST Bank is compounded monthly.

What app gives you $200? ›

Current – Borrow up to $200 with fee-free overdrafts. Current is a money borrowing app that gives you ability to instantly borrow $200 with no interest or fees. There's no credit check either. With Current you get nearly all of the features you use a bank for, straight from your phone.

What app gives you free money? ›

Swagbucks is one of the best free apps that lets you earn real cash by doing a variety of activities. This is one of the best free money apps because you don't need to spend any money to sign up or start earning and you'll get $5 instantly when you create your account. Claim My Free $5!

What Prepaid cards give you money for signing up? ›

Rest assured that these cards are worth recommending, as they can all provide cash-free purchasing to consumers without a bank account or credit score.
  • Brinks Prepaid Mastercard. ...
  • PayPal Prepaid Mastercard® ...
  • NetSpend® Visa® Prepaid Card. ...
  • The Mango Prepaid Mastercard® ...
  • Greenlight – Debit Card For Kids. ...
  • Walmart MoneyCard®
20 Jan 2022

How can I get money right now? ›

19 Ways to Find Fast Cash
  1. Sell spare electronics. ...
  2. Sell your gift cards. ...
  3. Pawn something. ...
  4. Work today for pay today. ...
  5. Seek community loans and assistance. ...
  6. Ask for forbearance on bills. ...
  7. Request a payroll advance. ...
  8. Take a loan from your retirement account.
16 Aug 2022

What banks give you money for opening an account without direct deposit? ›

Best Bank Bonuses Without Direct Deposit Requirements – October 2022
  • Citi®: up to $2000 bonus.
  • UFB Direct: $75 bonus.
  • Chase: $300 bonus.
  • Ally: up to $3000 bonus.
  • Axos: $150 bonus.
  • Upgrade: $200 bonus.
  • Acorns: $1100 bonus.
  • NorthOne: $30 bonus.

How many bank accounts should I have? ›

An expert recommends having four bank accounts for budgeting and building wealth. Open two checking accounts, one for bills and one for spending money. Have a savings account for your emergency fund, then a second account for other savings goals.

Does cash APP give free money? ›

You can get free money on Cash App by referring friends to join the app, as soon as you create your account. You can earn cash for every new user who joins the app using your referral code, links a debit card to their Cash App account and sends $5 within two weeks of entering your referral code.

How can I get free PayPal money? ›

22 Legit Ways to Earn Free PayPal Money Instantly
  1. Survey Junkie.
  2. Mistplay.
  3. Branded Surveys.
  4. InboxDollars.
  5. Swagbucks.
  6. MyPoints.
  7. Ibotta.
  8. Swagbucks Live.
24 Sept 2022

What to do if you have no money? ›

I'm in Debt With No Job and No Money – What to Do
  1. Enroll in a hardship program. ...
  2. Make a budget and prioritize your expenses. ...
  3. Cut your spending. ...
  4. Manage credit cards wisely while unemployed. ...
  5. Apply for government assistance. ...
  6. Think before withdrawing money from your 401(k) ...
  7. Take out a home equity loan to pay off debt.

What app will give me $50 instantly? ›

What Apps Will Let Me Borrow $50? Many apps like Chime, Dave, DailyPay, and Brigit let you borrow $50. Most apps require you to repay the loan by your next paycheck but don't charge interest.

Which reward app pays the most? ›

Read on to get the full details and additional highest paying apps we recommend.
  • Swagbucks. Sign-up Bonus: Usually $5, sometimes as high as $10. ...
  • Survey Junkie. Sign-up Bonus: 75 points (for completing registration and user profile) ...
  • Rakuten. ...
  • Mistplay (Android Only) ...
  • Ibotta. ...
  • Fetch. ...
  • Trim Financial Manager. ...
  • Dosh.
9 Sept 2022

How can I make $50 right now? ›

How to Make $50 Fast Online (With Your Phone)
  1. Make $50 Fast Taking Online Surveys with Survey Junkie. ...
  2. Earn a $10 Sign Up Bonus with Swagbucks. ...
  3. Win $50 (or more) with Blackout Bingo. ...
  4. Make $50 in a Day with Sign Up Bonuses. ...
  5. Get Paid to Play Games on Your Phone. ...
  6. Cash Back Apps to Make $50 Fast. ...
  7. Amazon Mechanical Turk.
23 Sept 2022

Is Wells Fargo offering bonus? ›

Wells Fargo Everyday Checking: Earn $200

It also has a $10 monthly service fee. What is the offer? Open a new Everyday Checking account with a minimum deposit of $25, take in $1,000 worth of qualifying direct deposits during the first 90 days, and earn a $200 bonus..

Does Wells Fargo give signing bonuses? ›

Yes, new Wells Fargo customers can get $200 when they open a new account with $25 and receive a total of $1,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening. How do you get your Wells Fargo bonus?

How do I get my Wells Fargo bonus? ›

Bonus will be deposited into your account within 30 days of the 90-day qualification period.
  1. Open a Personal Checking account before the bonus expires on December 31, 2022.
  2. Learn more in our Wells Fargo Bank review.
  3. Open a Personal Checking account now to earn the $200 bonus.
2 Oct 2022

What is the number 1 bank in America? ›

JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $2.87 trillion.

What banks do millionaires use? ›

The Most Popular Banks for Millionaires
  • JP Morgan Chase (Private Bank) This bank is one of the oldest and most well-known banks in the United States. ...
  • Bank of America (Private Bank) ...
  • Citigroup (Private Bank) ...
  • Wells Fargo (Private Bank) ...
  • HSBC (Private Banking)
3 Jun 2022

Which bank is most trustworthy? ›

The Lifestory Research 2022 America's Most Trusted® Bank Study found Chase the most trusted bank. The America's Most Trusted® Study is a large-scale survey of consumers in the United States that seeks to identify the brands that people trust the most within their respective industries.

Which bank gives highest interest on savings account? ›

Savings Bank Account Interest Rates of Banks
Name of BankRates of Interest (p.a.)
Kotak Mahindra Bank Savings Account3.50% to 4.00%
State Bank of India (SBI) Savings Account2.70%
Yes Bank Savings Account4.00% to 5.25%
Citibank Savings Account2.50%
7 more rows

Which bank pays the highest interest on savings? ›

Best Savings Accounts:
  • Bask Bank - 3.05% APY.
  • Vio Bank - 3.02% APY.
  • Valley Direct - 3.01% APY.
  • BankPurely - 3.01% APY.
  • iGObanking - 3.01% APY.
  • Panacea Financial - 3.00% APY.
  • CIT Bank - 3.00% APY.
  • Citizens Access - 3.00% APY.

Which bank has best savings account interest rate? ›

Here are the best online savings account interest rates
  • Capital One – APY: 2.35%, min. ...
  • Marcus by Goldman Sachs – APY: 2.35%, min. ...
  • Ally Bank – APY: 2.25%, min. ...
  • American Express National Bank – APY: 2.25%, min. ...
  • Discover Bank – APY: 2.25%, min. ...
  • Popular Direct – APY: 2.25%, min. ...
  • Citibank – APY: 2.20%, min.

How can I get 5% interest UK? ›

How to get 5% interest without tying up your savings for years
  1. Earn 5% on your savings with NatWest or Royal Bank of Scotland. ...
  2. Earn 5% on your savings with Chase. ...
  3. Earn 5% in-credit interest with Nationwide Building Society. ...
  4. Earn 5% with Yorkshire Building Society's regular saver. ...
  5. Fixed rate bonds.
29 Sept 2022

Which bank gives highest interest rate per month? ›

Fixed Deposit Interest Rates by Different Banks
BankTenureInterest Rates for General Citizens (per annum)
HDFC Bank7 days to 10 years2.50% to 5.50%
Axis Bank7 days to 10 years2.50% to 5.75%
Union Bank of India7 days to 10 years3.00% to 5.60%
Canara Bank7 days to 10 years2.95% to 5.50%
3 more rows
6 Sept 2022

Which bank has highest interest rate for 2022? ›

Within the small finance bank category, Unity Small Finance Bank is offering the highest FD interest rate of 7.90% p.a.; followed by North East Small Finance Bank, Utkarsh Small Finance Bank & Fincare Small Finance Bank offering FD rates of 7.75% p.a. Among scheduled private sector banks, DCB Bank offers the highest FD ...

Which bank gives monthly interest in savings account? ›

If you opt for opening a savings account with IDFC FIRST Bank, you can get monthly interest on a savings account of up to 6.25%.

Where should I put 50k savings? ›

3. Investing 50k Into Savings Accounts
  1. A high-interest savings account is a top choice if you want a less risky and more 'safe' place to put your money.
  2. Alternatively, you can also consider taxable investment accounts or a cash ISA.

What is the best thing to do with a lump sum of money? ›

Pay down debt:

One of the best long-term investments you can make is to pay off high-interest debt now. This is especially true of credit card debt, which is likely costing you between 10% and 15% a year, which is much more than you can reliably make by investing your money.

Where can I get the highest interest on my money? ›

  • Certificates of deposit (CDs) typically offer higher interest rates than traditional savings accounts. ...
  • CD ladders combine the higher rates of CDs with some of the flexibility of savings accounts.
  • Credit unions, unlike banks, are owned by the people, or members, who hold accounts at the credit union.
15 Jan 2022

Who is the best bank to bank with? ›

Best banks, credit unions and neobanks:

Best overall, best for ATM availability: Charles Schwab. Best overall, best for overdraft options: Ally Bank. Best overall, best for rates: Alliant Credit Union. Best overall, best for tools: Capital One.

Which bank account is best? ›

Best Zero Balance Savings Account Of October 2022
  • Axis Bank PRIME Savings Account.
  • Indus Delite Savings Account (IndusInd Bank)
  • Kotak 811 Full KYC Account (Kotak Mahindra Bank)
  • Jupiter Savings Bank Account (Jupiter)
  • Basic Savings Bank Deposit Account (State Bank of India)
  • Methodology.
  • Frequently Asked Questions (FAQs)
15 Sept 2022

Will savings rates go up in 2022? ›

Nationwide Building Society has announced it will raise interest rates on all variable rate savings accounts from 1 September 2022. These accounts are seeing interest rates rise by 0.50%, in line with the latest bank rate increase: Flex Regular Saver rate rises to 3.00% AER. Start to Save 2 rate rises to 3.00% AER.

Is there a 5% savings account? ›

Although no bank or credit union provides traditional savings accounts that offer a five percent guaranteed interest rate, you can still get close. Currently, fixed annuities are guaranteeing rates as high as 5.25% APY. So, if you're looking for a high-yield savings account, contact us for a quote today.

How much interest will 100k earn in a year? ›

Interest on $100,000

Investing this amount in a low-risk investment like a savings account with a rate between 2% to 2.50% of interest each year would return $2,000 to $2,500. Investing in stocks, which may earn up to 8% per year, would generate $8,000 in interest.


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