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Still not capturing the best rates on your savings? We’ll make it easy by pointing you to six companies offering at least 5% APY later in this email.

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🏦 6 Banks Offering 5%+ APY on Savings

Still earning a paltry interest rate from your bank? Consider this a Public Service Announcement.

Rate hikes by the Federal Reserve have been brutal for borrowers. But they’ve also ushered in the best time for savers in many years.

If you haven’t shopped for a better savings account interest rate, now is the time.

“Friends don’t let friends put savings in a giant monster mega bank,” Clark says.

According to the Wall Street Journal, Americans lost $603 billion in the last eight years by keeping their savings at the largest banks that are notorious for paying much lower than market interest rates.

Bank of America and JP Morgan Chase are still paying 0.01% APY. So if you had the FDIC maximum of $250,000 in one of those accounts, you’d make $25 in interest annually.

And yet millions of Americans are keeping their savings at those institutions.

Clark says, “The average bank is paying less than half a percent. Just ripping off their customers left, right and center. And we’re letting them do it.”

Finding a high-yield savings account that offers at least 5% interest is now very possible. Here are a half-dozen institutions from our list of the best savings accounts offering at least 5% interest on your savings right now:

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💰️ Deal Alert: Today’s Top Deals

🎙️ Podcast

Data shows 25% of American couples aren’t putting enough money into a 401(k) to pick up the company match. If this is the case in your financial life, Clark has a few tips to help you increase your retirement savings. Also, driving-related deaths are thankfully trending down. Clark explains why.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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