Slickdeals is community-supported.  We may get paid by brands for deals, including promoted items.
Forum Thread

Need inputs for best savings account

5 10 Yesterday at 02:22 AM
Hi All,

I am willing to open a savings account. Can anyone recommend the best option for me.

right now i am holding a checking account in a Bank and i wish to open a savings account to earn some interest. However my avg balance will not be more than $1000.

kindly suggest me.

Thank you in advance.
Add a Comment
Reply
About the OP
Send Message
SlickMountain8106
Joined Mar 2025 New User
10 Reputation Points
0 Deals Posted
2 Votes Submitted
5 Comments Posted

1 Comment

View Forum Thread

Your comment cannot be blank.

Sign up for a Slickdeals account to remove this ad.

Joined Feb 2007
L10: Grand Master
> bubble2 7,575 Posts
WindySummer
Yesterday at 07:39 AM.
Yesterday at 07:39 AM.
Bankrate [bankrate.com] might be what you're looking for. Fidelity is an option if you're into ditching your bank. Offer is expired, but you can search/call to find the latest incentive.


Quote from CleverFriction1754 :
Pro Tip: Open a Fidelity brokerage account, cash management account, and Roth IRA account. Use the brokerage account as savings account. Fidelity sweeps any uninvested money in their brokerage and retirement accounts into their Money Market fund, which is getting 4.97% APR right now. Use the cash management account as a checking account (you can open a debit card for it). Only transfer money to the cash management account when you need to use it, since it doesn't sweep automatically into the same high interest Money Market as the brokerage and retirement accounts, and you may forget to manually place the funds into the higher interest Money Market fund.

Vanguard has a higher yield Money Market sweep, but they don't have a debit card account that can act as checking. Not sure about Schwab.
A couple comments from the thread.



Schwab doesn't have automatic sweep into a Money Market.


Fidelity Brokerage & Cash Management acct = Debit card w/ no fees and if charged anywhere, Fidelity reimburses.

My daughter left $10 in her Chase account and will probably never look back.


You can treat the brokerage account as "almost" regular savings bank account. You can Direct Deposit and pay bills using the instructions.
https://www.fidelity.com/bin-publ...eposit.pdf


Fidelity Starter Pack Earn $100 Bonus When you Deposit $50 or More Using Code: FIDELITY100

Fidelity Bloom App: Open New Bloom Spend and Save Accounts, Deposit $50 and Earn $100 Cash Reward
Reply
Page 1 of 1
Start the Conversation
 
Link Copied

The link has been copied to the clipboard.