Hii so I'm a college student and my parents set up a bank account with BOFA (bank of america) a while back but they have terrible intrest rates and I want to put my money aside for an emergency fund and have it grow whilst I don't use it, should I despite having my main bank provider being BOFA (they don't offer HYSA)?
And also if I should what provider do you guys recommend, I've read and research ALLY & Capitol One are pretty good?
HYSA – Beginner Finance
byu/Internal_Appeal_2433 inpersonalfinance
Posted by Internal_Appeal_2433
3 Comments
Banks and CUs: https://www.doctorofcredit.com/high-interest-savings-to-get/amp/ https://www.reddit.com/r/personalfinance/wiki/banks_and_credit_unions
I did Discover because it was 4-5 APY at the time.
google search says SoFi is 4 APY with no minimum, but I haven’t heard of that company before. go with the company you know, or look up the ones with the highest APY and good reviews.
Most recommended HYSA are – Capital One, Amex, Marcus, Ally. Stick with any of these or any other that has FDIC/NCUA insurance.