high yield interest savings accounts 2019

Best High Yield Interest Savings Accounts 2019


best high yield interestsavings account 2019 pinIn addition to the high yield interest checking account, cashflow cultivators can utilize a complementing high yield interest savings account to generate income from your savings in a passive and safe way in 2019 and into the future.

You should always accrue as much interest as possible on all of your cash savings or liquid emergency funds because having all of your money working for you in 2019 is very important to grow your net worth.

“Never let any capital sit without at least a slight return” is a core component of the cashflow cultivator philosophy.  Make all of your money work for you because you worked hard for your money.  A great way to stash away personal capital without risk in 2019 is by using the high yield interest savings account as a risk free way to generate passive income.

Usually, the interest rates on these high-interest savings accounts are slightly less than high interest checking accounts but generally have no banking stipulations such as the minimum use of a debit card and/or automatic transfer direct deposit setup between the checking account and your payroll.   So, what this means, is that the high yield interest savings account is a truly passive income investment.   Very little to no effort is required on your behalf to make sure you receive the advertised high yield interest rate.

High-interest savings accounts are excellent financial products because they are set and forget type of accounts that you can park your money into and receive high yield interest payments completely risk-free and with any further interaction.  Just put your money in and it works!


Most Local Savings Accounts Pay Little to No Interest

Have you checked the interest rate that you are receiving on your current savings account lately?   It’s probably not nearly as high as it could be if you shopped around for the best current rates (at around 2.4% as of March 2019).

Many people have savings accounts at their local banks (usually the same banks they have their checking accounts or mortgages).   These accounts’ rates are not competing with other banks nationally, as they rely on local clients who prefer a physical location as a trust factor in their banking decision, so their interest rates are much lower than online banks nationally.

These local bank branches usually offer very little interest on the money in their savings accounts, yet they use your capital for their own money making investments.  Hopefully the power of the internet is beginning to encourage these local banks to rethink their business models and start to compete with the best national interest rates.   We will see if their rates increase in the near future.


Many Online Savings Accounts Now Offer Higher Returns in 2019

Many online-based banks now offer high yield interest checking accounts in 2019 that generate higher returns on your parked liquid capital that is not being used for any other investments.  These banks don’t have the vast expenses of maintaining physical branch locations so they can afford to have a different but better business model.

Considering finding an online high yield interest savings account in 2019 is advantageous because the rates on these types of accounts are sometimes around 24x the national average.

These rates are usually slightly less than high yield interest checking accounts and long term CDs (certificates of deposits).  But whereas the high yield checking accounts require minimum debit card transactions and other banking requirements, and certificates of deposits tie your money up for the length of the CD, the high yield interest checking accounts are totally liquid and passive without risk.   Your money is there to take as needed when you want it and you usually don’t have to do anything else but put your money in to get the high yield interest rate.


Due Diligence on High Yield Savings Accounts in 2019

When you begin researching any high yield interest savings accounts, you should be very careful and do thorough due diligence to make sure you are going to park your capital into a highly trusted banking entity.

Make sure you can contact the bank very easily.  Make sure you can call the bank if needed and you should test this out personally by calling the branch.  Make sure someone answers the phone every time and helps you with your question or problem.

Make sure you pick a bank that has FDIC insurance on any savings account you choose to park your hard earned money.  Go to the FDIC website manually at https://research.fdic.gov/bankfind/ and look up the bank to make sure they have the current insurance.   Don’t trust a disclaimer in the footer of their website alone without personally looking the bank up at the FDIC website and verifying that their insurance is current.

Call the bank personally.

Are they knowledgeable and helpful on the phone?

Do they care about your questions and concerns?

Do they follow up when they can not answer any question?

Do they call you back?

Make sure you have a trusted partner in your banking needs by doing extreme due diligence on any bank you are considering.


The Best High Yield Interest Savings Accounts 2019

The online banks below have high yield interest rates that are researched as of March 2019.   The interest rates indicated below are pulled from that time and will likely change in the future when you may be reading this blog post, so the current rate at the time you read this may be different than what is listed below.

Understand that you must absolutely do your own due diligence very meticulously on any financial consideration (including savings accounts) before executing on a new decision involving your personal finances.  Your money is your responsibility.


Vio Bank High Interest Savings Account
2.46% APY (Annual Percentage Yield) as of March 2019


PNC Bank High Yield Savings Account
2.35% APY (Annual Percentage Yield) as of March 2019


Ally Bank High Yield Savings Account
2.20% APY (Annual Percentage Yield) as of March 2019


HSBC Direct Savings Account
2.22% APY (Annual Percentage Yield) as of March 2019


Discover Bank Savings Account
2.10% APY (Annual Percentage Yield) as of March 2019


Cit Bank Savings Account
2.45% APY (Annual Percentage Yield) as of March 2019


PurePoint Financial Online Savings Account
2.35% APY (Annual Percentage Yield) as of March 2019


Synchrony High Yield Savings Account
2.25% APY (Annual Percentage Yield) as of March 2019


Alliant High-Rate Savings Account
2.10% APY (Annual Percentage Yield) as of March 2019


Marcus by Goldman Sachs Online Savings Account
2.25% APY (Annual Percentage Yield) as of March 2019


Barclays Online Savings Account
2.20% APY (Annual Percentage Yield) as of March 2019



High Yield Interest Savings Accounts Personal Story

bryan cashflow cultivator personal finance blogger 239x300
Bryan S. – Cashflow Cultivator

I’ve used many high yield interest savings accounts for over 10 years now and have always found these types of savings accounts to be the most reliable, risk-free, passive way to generate interest on my liquid savings capital.

Long ago, I used local banks for my banking needs, mainly for convenience, but I was always disappointed with their interest rates.  I needed a better yield on my savings because I was making next to nothing on my money.  After researching savings accounts online, I found out about high yield interest savings accounts and have used them since and it has worked out well for me, as I have generated better interest every month on my money.

I remember that initially, it was a mental challenge to move my money into what felt like, at the time, was the internet unknown.   However, with diligent research, I eventually understood and accepted the business model and found the verification I needed to trust what I was doing was right.

After many years of banking with online based high yield interest savings accounts, I found that the rates have fluctuated due to variable interest rates so I do keep up with the current yield and I will move the funds to a new bank if I find a higher yield in a bank I can trust and verify.


High Yield Interest Savings Accounts Micro-action

A high yield interest savings account micro-action would be to research high yield savings accounts and possibly consider opening a new high-interest savings account only after you have done very thorough due diligence by researching and verifying that you can trust the bank you are going to choose by manually going to the FDIC website and looking up the bank yourself and also calling the contact line.

Initially, move smaller amounts of money incrementally to test and operate your new savings account before considering putting more capital than you are comfortable with at first.   The most critical thing is to have your money working for you passively, and for you to trust where and how your money is being stored.

Call the bank personally and talk to their tellers to assess how well they have their customer service processes streamlined and how they help you by answering your questions with their banking experts.


High Yield Interest Savings Accounts Risk Assessment

These high yield interest savings accounts in 2019 have almost no risk if thoroughly vetted and properly operated.  These types of accounts usually have no stipulations (unlike high yield interest checking accounts) to get the current advertised premium high interest yield on your money.

The best thing about these accounts is that you do not lose any money unlike other investments, so this financial practice can generate passive returns on your operational cash without the risk of losses.

FDIC insurance is a must for any checking or savings account.  Verify manually.  Call the bank.   Make sure you have online access and phone access to bankers to your satisfaction


High Yield Interest Savings Accounts Disclaimer

Your money and researching a high yield interest savings account is your responsibility so you must take it seriously and research carefully with due diligence.

Cultivate Cashflow presents financial concepts and explores entrepreneurial ideas for you to further research and ultimately after doing your own due diligence, decide if it is right for your financial portfolio.

Cultivate Cashflow is not a financial advisor or advisory firm in any way.  We are an education and lifestyle blog who document our own financial and entrepreneurial practices as teaching and entertainment blog content.

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The information on this personal financial blog site is for education purposes only. The author is not a registered financial adviser and the cash money income generating ideas discussed on the site are personal finance, entrepreneur, passive income, internet business education and are not recommendations. Cultivate Cashflow does not endorse any comments on the discussion threads. There is no guarantee for those comments to be accurate. By reading this site you automatically agree that Cultivate Cashflow is not responsible for any of your financial decisions. Remember not to risk money that you cannot afford to lose. Also, always do your due diligence and/or consult with your financial advisor when considering any financial decisions. This site contains affiliate links.

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