Wednesday, 25 November 2020

IncredibleBank Review: Checking, Savings and CD Accounts

IncredibleBank Review: Checking, Savings and CD Accounts
01 Dec
4:50

Incredible Bank’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

1.21%

Savings

Incredible Bank Incredible Savings

2.00%

American Express National Bank High Yield Savings Account

on American Express National Bank’s secure website

Member FDIC

2.27%

CD Rates

Incredible Bank 12 Month IB CD

2.55%

Goldman Sachs Bank USA High-yield 12 Month CD

on Goldman Sachs Bank USA’s secure website

Member FDIC

2.52%

CD Rates

Incredible Bank 24 Month IB CD

2.85%

Synchrony Bank 36 Month CD

on Synchrony Bank’s secure website

Member FDIC

2.63%

CD Rates

Incredible Bank 36 Month IB CD

2.80%

Synchrony Bank 14 Month CD

on Synchrony Bank’s secure website

Member FDIC

IncredibleBank’s checking account option

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How IncredibleBank’s checking account compares

As we mention in our list of the best online checking accounts out there, the best options come with:

  • No monthly fees
  • An easy-to-navigate mobile and online platform
  • No ATM fees and refunds offered
  • The ability to earn interest

IncredibleBank’s checking account gets points for the first three items on that list, but the fact that it can’t earn interest is a drawback. Many of the accounts on our list have much lower minimum opening deposit requirements, too, so we say consider opening one of those instead.

IncredibleBank’s savings account option

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How IncredibleBank’s savings account compares

The rate on IncredibleBank’s higher tier for this savings account can compete with the accounts on our list of the best online savings accounts out there. But that tier can be hard to qualify for, and most of the accounts on our list don’t have such high balance requirements to earn the APY. Some don’t have minimum balance requirements at all and even offer rates higher than IncredibleBank’s lower tier.

IncredibleBank’s CD rates

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How IncredibleBank’s CD rates compare

These CD rates are in line with those found on our list of the best available CD rates. But there are several on our list that offer higher rates with a lower or even no minimum deposit requirement, so we suggest considering one of those to get the most bang for your buck.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Emilia Benton

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Source: https://www.magnifymoney.com/blog/reviews/incrediblebank/

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