I have mentioned high APY in various posts now, such as 4.50% APY from PrizePool, 5% APY on Juno, and 5% APY on Primus. In this post, I want to talk about One Finance’s newest offering – 5% APY on savings. I have been a customer of One Finance since the days when of 3% APY (when 3% was cherished). In fact, One Finance has banned and reinstated me, potentially due to crypto activity.
Anyway, yesterday (July 15, 2023), One Finance announced that they will be offering 5% APY on savings balance, up to $100,000, when you receive $500 a month in eligible direct deposits or have a total daily balance of $5,000 or more. This (particularly the latter one) is a fairly easy requirement so One Finance should be of interest to many folks again.
Other Key Points
- If you do not qualify for 5.00% APY yet, you can continue to earn 3.00% APY on your primary Savings pocket until 7/15/2023. After that date, if you still do not qualify, your primary Savings and any custom pockets will earn 1.00% APY.
- Any balances in Auto-Save or Pay Autosave will start earning 5.00% APY today (July 15, 2023).
You can read more on their official help page (screenshot below).
Closing Thoughts
For a while, I have wondered why One Finance, one a king of giving good APY, had lagged behind. I don’t know the answer to that question but it appears they have finally caught up on the APY game.
