Shopping cashback portal Rakuten is offering a new account bonus the Synchrony Bank High Yield Savings Account, which has no minimum balance and currently pays a relatively competitive (but not top) rate of 3.75% APY.
The bonus may fluctuate as with all their payout rates, but right now it is a $100 bonus with relatively easy requirements. You just need to deposit $1,000+ of new money within 55 calendar days of opening the account. No minimum hold period is listed. Notably, it also does not have to be a payroll direct deposit. The Rakuten page says it takes “a few months” for the bonus to post. You could technically take your money out immediately, or even leave your money in there until it posts and the effective APY would still be in the neighborhood of 40% APY. Synchrony Bank also offers competitive CDs rates from time to time, so you might actually use the account l...
English (US)