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Here are two manually curated lists of the currently highest yielding FDIC-insured deposit accounts in the US:

https://phatwalletforums.com/topic/109/best-nationally-avail...

https://www.doctorofcredit.com/high-interest-savings-to-get/

4.15% is good, but there are better options, including with big banks like Bank of America (4.50% currently, though with an initial deposit requirement of $100k).

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Good lord. $100k minimum for a 4% yield? In Canada you can get that at any bank with $100 in your account.

Can you show us where?

Yea I don’t think “any bank” will give you 4%. Just checked CIBC and there are a number of conditions and also the bonus interest only applies for the first 4 months on your first account: https://www.cibc.com/en/special-offers/smart-savings-bonus-i...

TD is not even close to offering 4% https://www.td.com/ca/en/personal-banking/products/bank-acco...

And RBC only gives higher interest rates for 3 months https://www.rbcroyalbank.com/investments/psi/hisa.html

I made a mistake, I equated Savings Account with a GIC (which is like a cashable certificate of deposit). In Canada they can both be referred to as a TFSA, or Tax-Free Savings Account.

However the GIC is not like a savings account where there are minimum balance requirements to get an advertised rate.

Where do you see 4.5% in BofA?

It's a semi-hidden product called Preferred Deposit under BofA's Merrill subsidiary:

https://resources.bankofamerica.com/email/render-resource/40... https://olui2.fs.ml.com/Publish/Content/application/pdf/GWMO...

Big banks like Chase and Morgan Stanley have similar deposit products tied to their investment/wealth management arms:

https://www.jpmorgan.com/wealth-management/premium-deposit https://www.morganstanley.com/campaigns/wealth-management/qu...

They are not really competitive due to the high initial deposit or total balance requirements, as there are smaller banks that offer higher yields and no requirements. These products mostly function as an incentive for higher net worth individuals to maintain the relationship with their existing big bank.

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