Beach Bank in California is offering a 2.50% APY on a savings account effective July 1. Right now, the yield is 2.75% APY. The account is not available online, you have to call 1-866-862-3878 for more details and account opening. The biggest drawback is that there are no online facilities for moving money. However, you can use your existing bank’s ACH process to transfer funds.
Minimum deposit & balance required is $10,000 to get the stated yield. This rate is better than almost any other bank plus the money is not locked in like a typical CD, so definitely worth a look.
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