Saturday, 28 November 2020

Vio Bank Savings and CD Account Reviews

Vio Bank Savings and CD Account Reviews
29 Sep
8:05

Vio Bank’s Most Popular Accounts

APY

Account Type

Account Name

2.55%

CD Rates

Vio Bank 12 Month High Yield Online CD

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on Vio Bank’s secure website

2.11%

Savings

Vio Bank High Yield Online Savings Account

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on Vio Bank’s secure website

Vio Bank’s High Yield Savings account

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How Vio Bank’s savings account compares

There’s no two ways about it: Vio Bank is currently offering one of the highest interest rates in the entire nation. It is possible to find accounts with higher interest rates (such as some of these online savings accounts), but they’re few and far in between.

We also like the fact that Vio Bank only requires a small opening deposit to get started. Oftentimes, big banks will require outrageous deposit sizes, such as $5,000 or more, in order to get started earning these premium rates. That’s not the case at Vio Bank.

Still, there are a few drawbacks with this account. The fund availability policy for new accounts can catch you by surprise if you need that money again quickly, and the lack of an ATM card makes accessing your money just a bit more difficult.

On the whole, however, we do recommend this account, as long as ATM access isn’t important to you.

Vio Bank’s High Yield Online CD

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How Vio Bank’s CD rates compare

Again, Vio Bank is a standout among all banks. The bank is currently offering some of the best rates in the country on its CDs.

Unlike its savings account, however, Vio Bank is a bit further back in the frontrunner pack for most of these CD term lengths. They’re still excellent rates, to be sure, but there are a few more banks beating the rates for each CD term category as compared to its savings account. For example, here are our current top picks for best CD rates — see for yourself which ones are offering higher rates.

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.

Lindsay VanSomeren

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Source: https://www.magnifymoney.com/blog/reviews/vio-bank/

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