Ever wonder if there is a way to increase the interest you receive on your bank savings/checking account? In this low interest rate environment, it’s a great question and one I receive frequently.
One of the many great things about our country is entrepreneurship; new businesses entering a market to provide a better, more cost effective solution, or in this case creating a market where there is need from consumers.
MaxMyInterest is a technology platform that will find the highest yielding interest rate among participating online banks for your savings. Your money is held directly with the online bank, fully liquid and available to you at any time. Bank interest rates are reviewed every month and if a more competitive rate is found, your savings is automatically transferred to the higher yielding account.
The highest current rate among participating banks is 2.71%.
These online banks provide the same FDIC protections up to $250k per account as your local bank. If you have over the $250k FDIC limit in savings, MaxMyInterest will even split your savings up between banks to ensure all savings is FDIC insured.
If you would like more information on this solution, please contact me and I’ll be glad go through it in more detail.