4% APY Savings Account

Bread Savings, a division of Bread Financial, is offering a high-yield savings account with a competitive 4% APY, making it an attractive option for those looking to grow their savings. The minimum opening deposit for this account is $100.

The online bank also offers certificates of deposit (CDs) with terms ranging from three months to five years, and rates up to 4.15% APY. The minimum opening deposit for CDs is $1,500. Both the high-yield savings account and CDs come with no monthly maintenance fees, making them a cost-effective option for savers.

Bread Savings has a mobile app available for download on the App Store and Google Play, with a rating of 4.7 and 4.6 stars, respectively. This allows customers to easily manage their accounts on the go. Customer service representatives are also available via telephone on weekdays from 7 a.m. to 9 p.m. CT and weekends and most holidays from 9 a.m. to 5 p.m. CT, and can be reached by calling 1-833-755-4354.

## Why it matters Bread Savings' commitment to reducing its environmental impact by implementing work-from-home programs is a notable aspect of its operations. However, the bank's limited product offerings and lack of physical branches or ATMs may be a drawback for some customers. Despite this, the competitive rates and lack of monthly fees make it an attractive option for those looking for a high-yield savings account or CD.

The bank's online-only model allows it to keep costs low, which is reflected in the lack of monthly maintenance fees. However, this also means that customers who prefer to bank in person or have access to ATMs may need to look elsewhere. Overall, Bread Savings is a good option for those who are comfortable with online banking and are looking for competitive rates and low fees.

## What happens next As the banking landscape continues to evolve, it will be interesting to see how Bread Savings adapts and expands its product offerings. For now, the bank remains a solid option for those looking for high-yield savings accounts and CDs with competitive rates and no monthly fees.