Tuesday, 2 June 2020

Review of SFGI Direct’s Savings Account

Review of SFGI Direct’s Savings Account
20 Aug
9:28

SFGI Direct’s Most Popular Accounts

APY

Account Type

Account Name

Compare Rates from Similar Accounts

1.81%

Savings

SFGI Direct SFGI Direct Savings Account

1.85%

Goldman Sachs Bank USA High-yield Online Savings Account

on Goldman Sachs Bank USA’s secure website

SFGI Direct’s savings account

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How SFGI Direct’s savings account compares

If we’re only talking about rates, then you can’t go wrong with SFGI Direct’s savings account. The rate is one of the highest we’ve seen compared to other banks and credit unions. Again, if you’re just looking for a place to park some of your savings, this account is a great choice.

The SFGI Direct savings account also offers a relatively low minimum opening balance compared to our list of the best savings accounts out there. While some of these accounts do have higher APYs, they require a higher minimum balance.

However, if you’re looking for more snazzy features such as ATM access and mobile banking, you won’t find that here. Other competitors offer free checking accounts you can link your savings account to, ATM cards and even a mobile app to make transactions on the go.

If you want an even higher rate and other features like check writing capabilities, you could shop around and look at money market accounts as an alternative. Many of these types of accounts are FDIC-insured up to the legal limit and are in many ways similar to a savings account. You are limited to six withdrawals a month as per Regulation D and you may find that some money market accounts require a higher minimum opening deposit. Either way, it pays to shop around and find the current best deal.

Advertiser Disclosure: The card offers that appear on this site are 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 card companies or all card offers available in the marketplace.

Sarah Li Cain

Sarah Li Cain |

Sarah Li Cain is a writer at MagnifyMoney. You can email Sarah Li here

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Source: https://www.magnifymoney.com/blog/reviews/sfgi-direct/

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