Update 2/8/23: Increased from 3.9 to 4.1%
Update 12/20/22: Increased to 3.9% from 3.5%
Offer at a glance
- Interest Rate: 3.9%
- Availability: Nationwide, pilot only currently
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Insured: FDIC
The Offer
- Vanguard has launched a new savings alternative account called ‘Cash Plus’
Avoiding Fees
This account has no monthly fees to worry about.
Our Verdict
This isn’t available to all Vanguard members currently as it’s only in a pilot stage. Given other basic savings account rates are higher than this I don’t really see why you’d sign up at this stage. I’d also recommend reading this caveat on the FDIC insurance.
Hat tip to Beltway
View Comments (68)
https://www.barrons.com/advisor/articles/vanguard-cash-high-yield-savings-89e575f4 indicates Cash Plus was open to all as of Mon Jan 8, 2024
Appears to now be open to everyone
Product page no longer mentions "pilot offer"
@guest_1491876 I just tried to open an account and I got a message saying "Enrollment is closed for now, but we'll be in touch."
Ah shame, maybe they're getting close, the language was changed within the past week:
https://web.archive.org/web/20231211221338/https://investor.vanguard.com/accounts-plans/vanguard-cash-plus-account
APY up to 4.7% as of Aug 1.
Vanguard settlement fund is at 5.29%
Apparently I'm eligible to open (I have 75% of my investments and retirement accounts with Vanguard, so that helps). Anyone have issues with the cash account that they would recommend not signing up for?
How did you find out you were eligible?
APY is now 4.5%
APY increased to 4.25%
https://investor.vanguard.com/accounts-plans/vanguard-cash-plus-account
APY now up to 4.1%
I think that's a good rate as I look around so I'm not sure why the comments are not more positive about this Cash Plus Account?
Yeah the new 3.9% definitely beats out all but a few sketchy banks. Plus, I like having money in one place (like how you can do lots of stuff with Fidelity).
APY now up to 3.9% (site not updated yet)
I'm gonna open this account about two seconds after I'm invited.
Then I can close Marcus and have one less login.
Same
dont like the new site page