Update 3/16/2020: Rate lowered to 1.25% APY.
Update 11/1/2019: Rate lowered to 1.95% APY. But they have a Money Market Account that offers 2.25% APY with minimum $25K balance.
Customers Bank is offering a high yield savings account with a rate of 2.50% APY. You need to deposit at least $25K to get this rate, but there’s no maximum.
Grow your savings with the new High-Yield Savings Account from Customers Bank. Earn 2.50% APY with the freedom to make up to six withdrawals or transfers a month. Minimum balance requirement to open and obtain APY on savings account is $25,000. Balances below $25,000 earn no interest.
- This is a variable rate account and the APY and interest rate may change at any time after account is opened.
- Minimum balance requirement to open and obtain APY on savings account is $25,000. Balances below $25,000 earn no interest.
- Limited to six (6) transfers per statement cycle to another account at Customers Bank or to third parties by means of a preauthorized transfer or telephonic (including data transmission) agreement.
- Debit card and checks are not available on this account.
- FDIC insured
This is a good rate for high yield accounts, but it does require a minimum of $25,000. You get up to six withdrawals or transfers a month for free which is pretty standard for these accounts.