As rates creep upward, in part because of the Federal Reserve raising interest rates, we’re starting to talk about how savings accounts may one day offer 7% APY. Is that day today? As of April 5th, there isn’t a single bank that offers 7% APY on a savings account. The highest we’ve seen is in the 5% range. There is, however, one credit union but there is a big catch. Table of Contents Landmark Credit Union – 7.50% on up to $500 UFB Preferred Savings – 5.02% APY When Will We See 7% Interest Savings Accounts? Watch CD Rates for Clues Landmark Credit Union – 7.50% on up to $500 Landmark Credit Union offers a Premium Checking account that offers 7.50% APY on balances up to $500 – that’s it. The catch is the low amount, plus it requires electronic statements and direct deposit of $250+. It’s a lot of requirements just to get a high interest rate on such a low dollar amount. ⚠️ On balances above that, you earn 0.11% APY – which is terrible . If you have a balance above that, y
... one of the largest curated content blog on the internet about personal finance and other financal-related matters.