Latest news with #JeniusBank
Yahoo
5 days ago
- Business
- Yahoo
Jenius Bank review (2025): Simple online banking with competitive rates and no fees
Summary: Jenius Bank is the digital banking division of SMBC MANUBANK, a California state-chartered commercial bank based in Los Angeles. Jenius Bank offers personal loans and high-yield savings accounts. Jenius Bank offers the following products and services: The Jenius High-Yield Savings Account is currently offering a 4.20% APY — that's more than 10 times the national average for savings accounts. There are no monthly fees or minimum balance requirements for this account and interest is compounded daily. Jenius personal loans start at $5,000 and go up to $50,000 with rates from 8.99% to 23.49%. There are no loan origination fees, prepayment fees, or charges for late or missed payments. Repayment terms for a Jenius personal loan range from 36 months to 72 months. Jenius is not currently accepting personal loan applications on its website. However, you may be able to qualify for a Jenius loan if you apply through Intuit Credit Karma or Lending Tree and meet eligibility embedded content is not available in your region. Jenius Bank does not charge any fees for its savings accounts. Additionally, you will never pay loan origination fees, prepayment fees, late or missed payment fees, transaction fees, and the like as a Jenius customer. Here are some of the major pros and cons of banking with Jenius Bank: Pros: Competitive interest rate for high-yield savings account: Jenius Bank's high-yield savings account offers 4.20% APY, which is one of the highest rates available. No fees or minimum balance requirements: Jenius does not currently charge any fees for its accounts or personal loans. There is also no minimum balance requirement to keep your account open or avoid fees. 24/7 customer service: Jenius bankers are available to chat 24/7. Cons: Limited account options: Jenius only offers savings accounts and personal loans. It does not currently offer checking accounts, money market account accounts, credit cards, or other types of financing. This could be a drawback for customers with more extensive banking needs. No physical branches: Jenius operates online only and does have any physical branches for customers to visit. Certain products are not available in every state: Jenius savings accounts are not available for residents of Hawaii or New Mexico. Additionally, Jenius is not accepting personal loan applications from residents of Hawaii, Nevada, or Wisconsin. Jenius Bank representatives are available to assist customers 24/7 at 844-453-6487. Jenius also has a mobile app available for download on the App Store and Google Play. The app has a rating of 4.3 stars and 3.9 stars, respectively. Customers can use the app to view account balances, transactions, and account details, transfer money between accounts, and more. Yes, Jenius savings deposits are FDIC-insured up to the federal limit of $250,000 per depositor, per ownership category. Jenius Bank's routing number is 122045354. Jenius Bank is the digital division of SMBC MANUBANK, a California state-chartered commercial bank and wholly owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group.
Yahoo
20-03-2025
- Business
- Yahoo
Best savings interest rates today, March 20, 2025 (top account pays 4.20% APY)
If you're looking to supercharge your savings, a high-yield savings account could provide a competitive return to help your balance grow faster. However, not all banks offer high rates, which is why it's important to shop around and find the most competitive savings interest rates available. Read on to learn more about where to find the best savings interest rates. Savings account rates are now trending down following the Fed's recent rate cuts. The good news is that many high-yield savings accounts still offer rates of around 4% APY. The best rates are typically offered by online banks, although you may be able to find comparable savings interest rates at some credit unions and community banks. Today, the highest savings account rate available from our partners is 4.20% APY. This rate is offered by Jenius Bank and there is no minimum opening deposit required. Read our full review of Jenius Bank Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your several years of near-zero interest rates, the Federal Reserve began raising the federal funds rate in 2022 in order to combat rapidly rising inflation. As a result, savings interest rates skyrocketed as well, reaching a 15-year high. However, in late 2024, the Fed implemented a series of cuts to the federal funds rate, and savings account rates have started dropping. It's also expected that the Fed will implement more rate cuts in 2025. It's difficult to predict exactly how and when interest rates will change going forward, but one thing is for sure: Today's high savings account rates won't last forever. So, if you're hoping to give your savings a boost and take advantage of the best rates on the market, there's no better time than now. The requirements involved in opening a savings account vary by financial institution. However, if you're ready to open an account, you can follow these general steps: Research savings account rates: Of course, when choosing a savings account, one of the most important factors to evaluate are the interest rates. Be sure that you select a savings account with a competitive rate to help your money grow. Figure out your must-haves: Although savings account interest rates should be top of mind, that's not the only factor to consider. You'll also want to think about what else you need from your account, whether it's no minimum balance requirement, low fees, or other perks. Finding a savings account with a solid rate that also helps you achieve your goals is key. Prepare documentation: Opening a bank account requires you to provide a few important personal details and documents. Before you start your application, be sure you have your Social Security number, driver's license or passport number, and proof of address. Fill out the application: In many cases, you can apply for savings account online. However, some financial institutions may require you to visit the branch in person to apply. Either way, the application for a new savings account should only take a few minutes to complete. In many cases, you'll get your approval decision instantly. Fund your account: Once your savings account application is approved, you'll need to add funds to the account. Be sure you're aware of any minimum opening deposit requirements and timeline for funding. Read more: Step-by-step instructions for opening a high-yield savings account This embedded content is not available in your region.
Yahoo
06-03-2025
- Business
- Yahoo
Best savings interest rates today, March 6, 2025 (top account pays 4.50% APY)
If you're looking to supercharge your savings, a high-yield savings account could provide a competitive return to help your balance grow faster. However, not all banks offer high rates, which is why it's important to shop around and find the most competitive savings interest rates available. Read on to learn more about where to find the best savings interest rates. Savings account rates are now trending down following the Fed's recent rate cuts. The good news is that many high-yield savings accounts still offer rates of around 4% APY. The best rates are typically offered by online banks, although you may be able to find comparable savings interest rates at some credit unions and community banks. Today, the highest savings account rate available from our partners is 4.50% APY. This rate is offered by Jenius Bank and there is no minimum opening deposit required. Here is a look at some of the best savings rates available today from our verified partners:Following several years of near-zero interest rates, the Federal Reserve began raising the federal funds rate in 2022 in order to combat rapidly rising inflation. As a result, savings interest rates skyrocketed as well, reaching a 15-year high. However, in late 2024, the Fed implemented a series of cuts to the federal funds rate, and savings account rates have started dropping. It's also expected that the Fed will implement more rate cuts in 2025. It's difficult to predict exactly how and when interest rates will change going forward, but one thing is for sure: Today's high savings account rates won't last forever. So, if you're hoping to give your savings a boost and take advantage of the best rates on the market, there's no better time than now. The requirements involved in opening a savings account vary by financial institution. However, if you're ready to open an account, you can follow these general steps: Research savings account rates: Of course, when choosing a savings account, one of the most important factors to evaluate are the interest rates. Be sure that you select a savings account with a competitive rate to help your money grow. Figure out your must-haves: Although savings account interest rates should be top of mind, that's not the only factor to consider. You'll also want to think about what else you need from your account, whether it's no minimum balance requirement, low fees, or other perks. Finding a savings account with a solid rate that also helps you achieve your goals is key. Prepare documentation: Opening a bank account requires you to provide a few important personal details and documents. Before you start your application, be sure you have your Social Security number, driver's license or passport number, and proof of address. Fill out the application: In many cases, you can apply for savings account online. However, some financial institutions may require you to visit the branch in person to apply. Either way, the application for a new savings account should only take a few minutes to complete. In many cases, you'll get your approval decision instantly. Fund your account: Once your savings account application is approved, you'll need to add funds to the account. Be sure you're aware of any minimum opening deposit requirements and timeline for funding. Read more: Step-by-step instructions for opening a high-yield savings account
Yahoo
27-02-2025
- Business
- Yahoo
Best savings interest rates today, February 27, 2025 (top account pays 4.50% APY)
If you're looking to supercharge your savings, a high-yield savings account could provide a competitive return to help your balance grow faster. However, not all banks offer high rates, which is why it's important to shop around and find the most competitive savings interest rates available. Read on to learn more about where to find the best savings interest rates. Savings account rates are now trending down following the Fed's recent rate cuts. The good news is that many high-yield savings accounts still offer rates of around 4% APY. The best rates are typically offered by online banks, although you may be able to find comparable savings interest rates at some credit unions and community banks. Today, the highest savings account rate available from our partners is 4.50% APY. This rate is offered by Jenius Bank and there is no minimum opening deposit required. Here is a look at some of the best savings rates available today from our verified partners: This embedded content is not available in your several years of near-zero interest rates, the Federal Reserve began raising the federal funds rate in 2022 in order to combat rapidly rising inflation. As a result, savings interest rates skyrocketed as well, reaching a 15-year high. However, in late 2024, the Fed implemented a series of cuts to the federal funds rate, and savings account rates have started dropping. It's also expected that the Fed will implement more rate cuts in 2025. It's difficult to predict exactly how and when interest rates will change going forward, but one thing is for sure: Today's high savings account rates won't last forever. So, if you're hoping to give your savings a boost and take advantage of the best rates on the market, there's no better time than now. The requirements involved in opening a savings account vary by financial institution. However, if you're ready to open an account, you can follow these general steps: Research savings account rates: Of course, when choosing a savings account, one of the most important factors to evaluate are the interest rates. Be sure that you select a savings account with a competitive rate to help your money grow. Figure out your must-haves: Although savings account interest rates should be top of mind, that's not the only factor to consider. You'll also want to think about what else you need from your account, whether it's no minimum balance requirement, low fees, or other perks. Finding a savings account with a solid rate that also helps you achieve your goals is key. Prepare documentation: Opening a bank account requires you to provide a few important personal details and documents. Before you start your application, be sure you have your Social Security number, driver's license or passport number, and proof of address. Fill out the application: In many cases, you can apply for savings account online. However, some financial institutions may require you to visit the branch in person to apply. Either way, the application for a new savings account should only take a few minutes to complete. In many cases, you'll get your approval decision instantly. Fund your account: Once your savings account application is approved, you'll need to add funds to the account. Be sure you're aware of any minimum opening deposit requirements and timeline for funding. Read more: Step-by-step instructions for opening a high-yield savings account This embedded content is not available in your region.
Yahoo
25-02-2025
- Business
- Yahoo
Best savings interest rates today, February 25, 2025 (top rate at 4.50% APY)
The Federal Reserve reduced its target interest rate three times in 2024. As a result, high-yield savings account rates have been falling. That said, some of the best accounts still pay above 4% APY. In order to get the highest interest rate possible on your savings, it's important to do your research and find competitive offers. Not sure where to start? Here's a closer look at savings interest rates today and where you can find the best ones. The average interest rate on a traditional savings account is only 0.41%, according to the FDIC. However, the best savings rates can be found on high-yield accounts, which often pay much more. As of February 25, 2025, the highest savings account rate available from our partners is 4.50% APY. This rate is offered by Jenius Bank and there is no minimum opening deposit required. Read our full review of Jenius Bank Here is a look at some of the best savings rates available today from our verified partners:Over the last decade, savings account interest rates have fluctuated quite a bit. From 2010 to about 2015, rates were rock-bottom, hovering at around 0.06% to 0.10%. This was largely due to the 2008 financial crisis and the Federal Reserve's decision to lower it's target rate to near-zero in order to spur economic growth. From 2015 to 2018, interest rates began to gradually increase. However, they remained low by historical standards. Then the onset of the COVID-19 pandemic in 2020 led to another sharp decrease in rates as the Fed once again cut rates to stimulate the economy. This brought average savings interest rates down to new lows, around 0.05% to 0.06% by mid-2021. Since then, savings account rates have recovered considerably, largely driven by the Fed's interest rate hikes in response to skyrocketing inflation. However, the Fed finally lowered the federal funds rate in September, November, and December 2024, and as a result, deposit rates are beginning to fall as well. The following is a look at how savings interest rates have changed over the past decade: Despite the fact that interest rates have risen substantially since 2021, the average savings account rate is still fairly low, especially compared to market investments. If you're saving for a long-term goal such as a child's education or retirement, a savings account probably won't generate the returns needed to reach your goal. On the other hand, if you're saving for an emergency fund, home down payment, vacation, or other short-term goal, a high-yield savings account is ideal — especially if you want to access the funds as needed. Other types of deposit accounts, including money markets and CDs, may offer similar or even better rates, but restrict how often you can make withdrawals. The key is to shop around and find an account that provides a competitive rate with low or no fees.
