Not convinced? Let’s compare your current status quo
|Traditional Banks||Neo Banks|
|Chase Savings||0.01% APY||American Express||0.60% APY|
|Bank of America||0.05% APY||Radius Bank||0.10% APY|
|HSBC||0.15% APY||Axos Bank||0.61% APY|
|Wells Fargo & Co.||0.04% APY||Chime||1.00% APY|
|CIT Bank||0.50% APY||Bank Mobile||0.50% APY|
According to the FDIC, the national average interest rate on savings accounts currently stands at 0.05% APY. This applies to both average and jumbo deposits (balances over $100,000).
The average interest rate on a savings account is very low – low enough that your savings won’t keep pace with inflation
Good things come to those who wait…
Our brand new app is coming soon!
You’ll be able to download the app in the Google Play Store and the Apple App Store and be able to start investing within minutes.
We can’t wait to share this update with you!