Offer at a glance
- Interest Rate: 3.25% APY, guaranteed for 1 year
- Availability:Â Nationwide
- Hard/soft pull:Â Soft
- ChexSystems: Yes (note: they are Chex sensitive).
- Credit card funding:Â None
- Monthly fees:Â None
- Min/Max: $2,500 minimum, no max
- Insured: NCUA (NCUA insurance covers up to $250,000)
The Offer
- Elements Financial credit union is offering their Helium Savings account with a 3.25% APY when you have a balance of at least $2,500.
The Fine Print
- Rate is guaranteed for at least one year.
- Rate valid only on new money not already on deposit at Elements
Our Verdict
This is the best rate currently available (9/25/22) on a no-requirement savings account. With the recent fed hike and possible future hikes we might see 3.25% or higher at other banks. Still, this is a solid offer and can make sense for someone with high balances that need to be liquid. We’ve written before about Elements 4% account on balances up to $20,000.
We’ve added this account to our list of Best High Yield Savings Accounts.
Hat tip to ShawntheShawn
I’m waiting a few days until Oct 1 to open this account; I want my 1-year anniversary month to be Oct 2023 so I get the 3.25% thru Nov 30, 2023.
Why is it not from Oct 1, 2022 to Oct 31, 2023?
I was informed today that Elements Financial High Yield Savings will remain/continue at 4.25%. It appears that those that have it will not have to do anything to keep it at that rate. I know it’s less then most other places but super easy to to move $$ in and out, pay bills etc. No limit on transactions per month. If you have that account you should still verify as it shows rate expires on 10/31/2023. They do have 8 & 13 month CD’s at 5.30%.
Did anyone else get a CC offer from them, looks like a straight 1.5% card with 200/1000 bonus?
I closed my Elements 4% checking and the Promo Helium accounts today since their rates aren’t attractive enough to me anymore. Did it by secure message and it happened very easily.
Any update on the interest rate? I opened an account but pulled my money out because I found a better rate elsewhere. (3.3%)
Nope. Since it was a promo rate and not a regular one, I don’t foresee it changing. Just drain it and move on to the next if you have better. Currently, this is my bottom rung account and using it to feed others as needed.
Rates are almost 4% other places, with minimum reqs. https://www.doctorofcredit.com/high-interest-savings-to-get/
Hope these guys bump up their rate at some point this month now that the Fed did another big hike this week.
But I’ve heard when a bank gives a “guaranteed minimum rate” for a year, they rarely raise it. I’ve just opened so many accounts this year that I’m getting tired of keeping up with it lol
Moved funds to bask last week. It was good for the 30 days.
@jpthoms When you moved funds before the statement close, did they still give the 3.20 apy up to the transaction date?
I kept the $2500 min amount to keep the 3.2%, I’ve had this account for a few years so no rush to close it out, I’ll just keep it open. If interested in moving funds, I’d pull from (due to low ach limits) Elements, leave the $2500 min till end of month. This way there is no problems with reduced interest rate if below the $2500 min.
That sounds smart. I think I made a mistake of pulling a large amount one week ago and leaving just $50. So now not sure if they will give me my interest or not :/
How does the 50k/month ACH limit apply to joint account?
If savings and checking are opened as joint accounts (P1 and P2),
1. Does P1 and P2 each has his own 50k/month usage across checking and savings combined? OR
2. Does 50k/month apply to account level regardless which owner does the transfer? i.e. Savings and Checking each can have 50k/month transfer.
I opened their 4% promo checking account for new members about a week ago, and once I had everything set up, I went to go apply for the 3.25% promo savings account but saw that the promo had just ended a day or two ago. I thought I had missed out but decided I would try to message them about if they could still change my savings account to the 3.25% savings account and they actually did! I just had to transfer $2500 into the savings and it’s now earning 3.2% interest.
So for those who had opened the promo checking account recently, but missed out on the 3.25% savings account promo, try messaging them about how you recently opened your checking account but were told you couldn’t open the promo savings account at the same time and if they could manually open the savings account for you. Worked for me.
Got in just before they closed the 3.25% Online account setup a day or 2 after i applied with $5k transfer. Now it says I’ve reached my transfer limit? 1? Odd.
Their transfer limit is really low, especially for the first 30 days. If you’re looking to deposit a large sum, request permission for a one time check mobile deposit. They let me do a significant figure this way. Went to my bank to get a cashiers check and just snapped a picture. Easy
capped at $1K a day
Hmm, I do 2k per day (2x 1k transaction)
That is an internal push or pull cap from their side, correct?
I am thinking I should still be able to do withdrawals from them without a limit.
I am planning on buying treasury bonds through treasurydirect. Several 10k purchases. Elementd better not mess it up.
P2 mid-October used Citi to pull 19K from Elements. The bank/entity initiating the transfer controls the rules.
Initiate a transfer from other bank account that you are sending money from. I sent $100k x 5 times via ACH without problem. Same goes to when you withdraw money from Elements. Their $5k transfer limit really sucks.
How long does it take the dividend rate to update accordingly? Had more than enough to meet the req’s (> 2500) and it still showing 0.10%
Took a business day. Forgot Mon was a holiday and it showed the balance since Fri evening.
I’m seeing the same, just got the balance over $2500 yesterday/today.
looks dead now
those of us who opened it during the promo are still good to go right?
Should be, they guaranteed the rate for a year