HMBradley review: Earn up to 3% APY on a hybrid checking/savings account
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- HMBradley (Member FDIC) is a hybrid savings and checking account that offers a competitive APY.
- The account is ideal for people who save a large percentage of their deposits.
- You can earn 0.50%, 1.00%, 2.00%, or 3.00% APY depending on the percentage you save.
- See Insider’s picks for the best high-yield savings accounts »
Should you open an HMBradley account?
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The bottom line: HMBradley is a great choice if you can save at least 5% of what you earn and are comfortable keeping your checking and savings all in one place.
HMBradley Account review
High rates on balances up to $100,000
Early direct deposit
0% to 3% APY
0.01% or 0.25% APY
1% on your Save Pocket; 3% on your Auto-Save Pocket
HMBradley vs. SoFi Money
Like HMBradley, SoFi Money (Member FDIC) is a hybrid checking and savings account. Neither company requires an initial deposit or minimum balance, and neither charges fees.
You may prefer HMBradley if earning interest is your main priority. SoFi’s highest rate is lower than what HMBradley pays, and unless you can deposit $500 per month, you’ll earn just 0.01% APY. But if you can afford the $500 monthly deposits, you might like SoFi. These deposits qualify you to earn cash back with participating businesses.
HMBradley vs. One
Like HMBradley, the One account pays a tiered interest rate. Your preference to the two will probably depend on which company’s savings structure appeals to you more.
One is a checking account that lets you put money in separate savings pockets, which could be useful if you like to keep your spending and savings money separate. One’s rates are competitive with HMBradley’s rates, but you’ll only earn interest on balances up to $5,000 in your Save Pocket. And you can only contribute up to $1,000 per month to your Auto-Save Pocket, where it earns even more. So the account that will pay you the most interest will depend on how much you earn and how much you can save.
You may also prefer One if you want to receive your paychecks sooner. You can receive direct deposits up to two days early with One.
Laura Grace Tarpley is the associate editor of banking and mortgages at Personal Finance Insider, covering mortgages, refinancing, bank accounts, and bank reviews. She is also a Certified Educator in Personal Finance (CEPF). Over her four years of covering personal finance, she has written extensively about ways to save, invest, and navigate loans.
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