WT Direct - A High APY Savings Account

Check out WTDirect's winter blast sign-up bonus up to $250* for this account!

Since the market is volatile and the economy is nearly stagnant, it makes sense to keep a part of our savings in liquid form to meet emergencies (i.e. our emergency fund). Some may choose to convert a part of their portfolios to cash. If we are averse to risk, during market down times it might make sense to hold on to our cash. But for those who can afford to take risk and are willing to invest, this is the time to buy.

In that light, Wilmington Trust Bank is offering a good APY of 3.16% for their savings account. Since APYs on banking products are on the decline, this deal from WT Direct seems lucrative. Lets delve into its depths and unfold it.

• WTDirect Savings Account
• No fees.
• No minimum deposit to open the account.
• No checking account required in order to get the high rate.
• For the first 60 days from the date the account is opened, regardless of the account balance, the account will earn their highest APY. After the first 60 days, the APY for the account will have two tiers:
  
• a higher APY for accounts with balances of $10,000 or more and
  
• a lower APY, currently 0.50% APY, for accounts with balances of less than $10,000.
• $0 Liability Guarantee for unauthorized transactions on your account.
• Industry leading privacy and security.
  
• FDIC insured.

WT Direct is giving us an opportunity to check them out for 60 days and still earn the high APY for balances less than 10k. Bankrate has given WT Direct a 4 star rating which means that the institution is safe and sound. So it might be worthwhile to go ahead and at least have a peek at them.

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