MMA loans

After my obligations, here are the best places to hide your money

Bond interest rates set records. They are now paying 7.12% and will drop to 9.62% next month. That’s the good news. The bad news is that you can’t invest more than $10,000 in I Bonds each year (plus an additional $5,000 with a tax refund). So if you still have some extra cash to spare, here are some of the highest interest rate bank accounts available today.

6 best account rates

If there’s any good news about rising inflation, it’s that savers will slowly start making more money. While savings and money market accounts are still at historic lows, they are on the rise.

SoFi Verification

One of my favorites. SoFi is best known for helping graduates refinance their student loans. It also offers an excellent combination of checking account and savings account. SoFi account pays up to 1.25% APY

on the balances of his current account and his savings account. To get this rate, customers need to set up direct deposit, otherwise the rate drops to a still respectable APY of 0.70%.

SoFi is also offering up to $300 in bonus cash to new customers. Direct deposit is required and the bonus amount depends on your direct deposit amount.

Save better

SaveBetter is not a bank. Instead, it works with FDIC-insured banks to consolidate multiple savings productions into one account for its clients. Currently, it offers a money market account from which pays 0.85% APY. This is the highest APY on an MMA I could find.

SaveBetter also offers other accounts. Currently, his accounts include Ponce Bank (0.75% APY), Patriot Bank (0.70% APY) and others. SaveBetter’s accounts are FDIC insured through its partner banks.

Basque Bank

According to its website, Bask Bank launched the first online-only savings bank in the United States in 1999 as Texas Capital Bank. It is an FDIC insured institution and has partnered with American Airlines to help customers earn miles. To this end, it offers the Mileage Savings Account. Customers earn one US AAdvantage mile for every dollar saved annually in the account.

If you prefer interest, Bask’s savings account currently pays 0.80% APY.


Visit the OnJuno website and a traditional bank is not the first thing that comes to mind. One thing that stands out is OnJuno’s move into crypto. With direct deposit, you can have your paycheck converted into Bitcoin

. As I type these words, I am unable to understand why anyone would think this is a good idea.

So why did OnJuno make my list? Through its FDIC-insured partner bank, it offers a traditional checking account that pays 1.20%. Note that this rate is limited to deposits up to $50,000 and I have other restrictions.

Northpointe Bank

As an Ohio State Buckeye fan, I don’t normally recommend things from Michigan. Northpointe Bank is an exception. From Grand Rapids, MI (at least it’s not Ann Arbor), the bank pays 0.90% APY to their Ultimate Money Market account. A minimum of $100 is required to open an account.

Quantum Bank

Last on our list comes from Quontic Bank. It currently offers 0.75% APY on savings accounts and up to 1.01% APY on checking accounts. Beyond pricing, Quontic cares about technology and community.

For example, he introduced the Pay Ring. It is a black wearable payment ring. Rather than whipping out your phone or debit card at the checkout for tap and pay, the Pay Ring on your finger does the work.

Quontic is also a community development financial institution. CDFI certification is awarded to organizations “that provide financial services in low-income communities and people who do not have access to finance.” (Source). According to Quontic’s website, the bank “connects eligible consumers with a cost assistance program and frequently provides educational assistance until someone is ready to lend.”

Final Thoughts

Keep in mind that the above rates change frequently. I keep track of a growth list of bank rates which you can check for the latest offers.