Bank account interest rates are falling rapidly, and unfortunately, the situation doesn’t look like it will get any better. Instead, it looks like we’ll see interest rates barely above zero for a while. But you want to earn interest on your accounts. That’s where the Axos high yield savings account can make a difference.
A high yield savings account gives you higher interest than the standard, and in the case of Axos high yield savings accounts, you’re looking at up to 0.61% APY. So that means a lot more benefits for you when trying to save money.
The original goal of a savings account was to have a place to put money away when you didn’t need it immediately but also have access to it quickly if you did need it. But with low-interest rates, you’re not getting any real benefit to that account unless you opt for a high-yield account, which often comes with its own rules.
With the Axos high yield savings account, you get better returns. Still, you also get no maintenance fees, no monthly balance requirements, and many additional features and benefits that you can count on. That makes it easier for you to save and gives you rewards for doing so.
Axos High Yield Savings Account With an ATM Card
This account is also entirely online. That means you get 24/7 access to your account, and you can even get an ATM card to access your money more easily when you’re on the go. All of this makes it easier for you to use the account if you need it, including checking your balance, updating account information, biometric security settings, and even a virtual financial assistant.
You want the opportunity to save money and earn something in return, right? So why wouldn’t you want to go where the interest rates are low? Online banking is becoming the top option for the current generation. But many online accounts still don’t offer the benefits you’re looking for. That’s why it’s essential to do your research to find something that offers you real benefits.
Giving up the interaction with a real person at a bank account can feel like a drawback for some people, and that’s why online banks offer so many additional benefits. Hence, you get something in exchange for what you’re giving up.
Working with Axos high yield savings accounts will help you get the returns you’re looking for while keeping your money easily accessible. You can withdraw from your account whenever convenient or leave it in the account to keep compounding interest.