Last Updated: 11/04/2025
Select Bank High Yield Savings
Unaffiliated
in Savings Accounts from Select Bank
Last Updated: 11/04/2025
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Highlights
APY (Annual Percentage Yield)
3.9%(Verified 11/04/2025)
Minimum Opening Deposit
$25
Minimum Balance to Earn APY
N/A
Select Bank High Yield Savings Review
Select Bank High Yield Savings is offered by Select Bank, a bank founded in 2000 and based in Asheboro, NC. Select Bank High Yield Savings are available in 50 states,Puerto Rico, and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 3.9%, which is much higher than the average interest rate for a savings account.
Select Bank High Yield Savings Pros & Cons
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Select Bank High Yield Savings FAQ
Are savings accounts from Select Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does Select Bank offer a signup bonus?
Select Bank High Yield Savings doesn't offer a signup bonus.
What is the minimum initial deposit for Select Bank High Yield Savings?
The minimum deposit to open a Select Bank High Yield Savings is $25.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does Select Bank High Yield Savings offer?
Select Bank High Yield Savings offers an APY of 3.9% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does Select Bank High Yield Savings charge?
Select Bank High Yield Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does Select Bank High Yield Savings offer?
This savings account includes the following features:
- Mobile Banking Services - Select Bank High Yield Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
Can you set up a direct deposit to Select Bank High Yield Savings?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
What is the customer support email for Select Bank High Yield Savings?
The customer support email for Select Bank High Yield Savings is select@myselectbank.com.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:30PM
Tuesday
9:00AM - 5:30PM
Wednesday
9:00AM - 5:30PM
Thursday
9:00AM - 5:30PM
Friday
9:00AM - 5:30PM
Saturday
Closed