Wondering if there are any 12% interest savings accounts out there? Turns out, they do exist. Most either involve cryptocurrency or are certificates of deposit offered by international banks. Crypto savings accounts typically aren’t insured by the FDIC, and international CDs can be risky. Here’s what you need to know.
Traditional banks in the US don’t offer yields anywhere near 12%, but you can still earn such high APYs with crypto savings accounts and international CDs with rates of 11% or more. This table highlights some of your options:
| Bank name | Account name | APY | Details / Limitations |
|---|---|---|---|
| Ravnaq Bank | 12-month Time Deposit Account | 14% | Funds must be in SUM instead of USD |
| Khan Bank | 365-day, 18-month and 24-month Ordinary Term Savings Account | 12.3% to 12.8% | Funds must be in MTN instead of USD |
| Khan Bank | 12-month, 18-month and 24-month Online Term Deposit Account | 12.4% to 12.9% | Funds must be in MTN instead of USD |
| Yield | N/A | Up to 12% | YLD only locked for 1 year. Must own at least 1,000 YLD. |
| Crypto.com | Crypto.com Earn | Up to 14.5% | in first $3,000 USD worth DOT. Must stake $40,000 in CRO and 2% of the APY is paid in CRO. |
| Hodlnaut | N/A | Up to 7.25% | Stablecoin only. APY drops on balances over $25,000 |
| CoinLoan | N/A | Up to 12.3% | Stablecoin only. 2% of the APY is paid in CLO. |
| Nexo | Nexo | Up to 12% | Stablecoin only. Earn 12% in NEXO or 10% in kind. NEXO must account for at least 10% of your balance. |
| Fulcrum | N/A | Up to 11.41% | USDC only. No minimum deposit or holding period. |
| Celsius Earn Network | Celsius Earn | Up to 17% | No minimum balance requirement. For the highest rates, you must own SNX, earn rewards in CEL, stake your CEL rewards for a year, and have at least 20% CEL in your portfolio. Only verified accredited investors can earn interest on deposits made after April 15, 2022. |
Most 12% interest savings accounts are either uninsured by the FDIC or off-limits to US citizens. If you find an account you’re interested in and eligible for, be aware of these risks before signing up.
Yes, many crypto savings accounts earn between 8% and 10% interest, and the same international banks that offer 12% APY CDs also offer 10% APY CDs. And like the 12% APY accounts, these accounts do carry some risk.
| Bank name | Account name | APY | Details / Limitations |
|---|---|---|---|
| Khan Bank | 180-day Ordinary Term Savings Account | 1.4% | Funds must be in MTN instead of USD |
| Ravnaq Bank | 9-month Time Deposit Account | 10% | Funds must be in SUM instead of USD |
| Garanti BBVA Bank | e-Term Time Deposit Account | 7% | Funds must be in TL instead of USD |
| Prominvestbank | 3-month Term Deposit | 14% | Funds must be in UAH instead of USD |
| Voyager | N/A | Up to 9% | USDC only. 100 USDC minimum balance. |
| Ledn | N/A | Up to 9% | No minimum balance. 10 USDC fee per withdrawal. |
| Gemini | Gemini Earn | Up to 8.05% | Gemini dollar (GUSD) stablecoin only. |
| AnchorUSD | High-yield interest account | Up to 8% | USDC only. No minimum deposit or holding period. |
If you come across a 12% interest savings account that sounds too good to be true, it probably is. Avoid the unnecessary risk by opening one of these alternatives instead:
Use this table to calculate potential interest earnings and sort accounts by APY, monthly fee, and minimum deposit requirements.
Before you open an international CD or crypto savings account with a 12% APY, weigh the benefits and risks. You may find that it’s better and safer to open a regular high-yield savings account in the States.
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