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finder.com’s rating: 4.6 / 5.0
★★★★★
Best for millennials who are starting to save money or people with a low savings balance, the SmartStart Savings Account lets account holders earn 2% APY. There’s no minimum balance or opening deposit requirement, but you can only earn 2% APY on balances up to $2,499.99.
After that, your APY drops to 1% on balances from $2,500 to $4,999.99 and 0.1% on $5,000 or more.
Up to 2.00%
APY
$0
Fee
$0
Minimum deposit to open
Review by
Cassidy Horton is a writer for Finder, specializing in banking and investments. She has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. Cassidy enjoys educating people about financial services, exploring the Pacific Northwest and watching endless reruns of The Office.
The SmartStart Savings Account is best for people who are just starting to save money. The APY tiers reward those with a lower balance, so you’ll earn the most interest if your balance is below $2,500. Plus, there are no minimum balance requirements to start.
The biggest downside is that your APY drops as your balance grows. If you keep a large account balance, you may earn more interest with a regular high yield savings account. For example, if you have $10,000, you’d earn $80 with Affinity’s APY tiers, but you’d earn $100 with a flat 1% APY.
Open your SmartStart Savings account in 10 steps:
There are some eligibility criteria to meet to open a SmartStart Savings account:
When applying for this account, there is some required information:
The SmartStart Savings account is NCUA-insured and boasts these benefits:
Like most savings accounts, withdrawals and transfers are limited to six transactions per month, excluding in-person and ATM withdrawals. Some other drawbacks to look out for:
If you want an account that rewards you for keeping more money in your savings, you’ll want to keep looking. As always, compare your options when looking for a high yield savings account.
Affinity FCU supports online banking, meaning you can deposit or withdraw money via one of the following methods:
Affinity has two other savings options in addition to the SmartStart Savings account:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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