Yieldstreet Launches Promotion for a Market Leading 1% APY High Yield Account
NEW YORK--(BUSINESS WIRE)--Dec 21, 2021--
Yieldstreet, a leading multi-asset alternative investment platform driven to reduce friction and provide previously unattainable access to alternative investments, today announced it is rolling out a 1% APY high yield account promotion.
Yieldstreet is offering the 1% APY account to qualified new Yieldstreet members. This APY ranks as one of the highest in the market, according to comparable APYs on Bank Rate, and is more than 15 times the national money market average based on the national average rates as of November 15, 2021 per the FDIC.
Amid record savings and rising inflation, higher yields are more desirable than ever. Americans have been pouring money into yield-earning cash accounts with the US personal savings rate hitting a 62-year high in 2020, increasing by nearly 14%. US savings accounts pay an average of .06%, according to the FDIC as of November 30, 2021.
The newly launched account has no fees and no lock up period, but is expected to end in March 2022, unless extended. Deposits are FDIC insured up to $250k. For more information on eligibility, please visit: https://www.yieldstreet.com/yieldstreet-wallet-high-yield-account/
Yieldstreet is reimagining the way wealth is created by providing access to alternative investments previously reserved only for institutions and the ultra-wealthy. Yieldstreet’s mission is to help millions of people generate $3 billion of income outside the traditional public markets by 2025. Its award-winning technology platform provides access to investment products across a range of asset classes such as Real Estate, Commercial, Consumer, Art, Marine, Legal Finance and Aviation. Since its founding in 2015, Yieldstreet has funded over $2.5 billion of investments and is committed to making financial products more inclusive by creating a modern investment portfolio. The company, headquartered in New York City with offices in Brazil, Greece, and Malta, is backed by leading venture capital firms. Join the movement at www.yieldstreet.com.
Yieldstreet has an agreement in place with Synapse Financial Technologies, Inc. (“Synapse”) under which Synapse, as an agent of Evolve Bank & Trust, Member FDIC (“Evolve”), enables Yieldstreet’s users to open deposit accounts at Evolve to be used in connection with Yieldstreet’s services. Banking services, including deposit accounts, are provided by Evolve Bank & Trust, Member FDIC. APYs are variable and subject to change after an account is opened.
Yieldstreet Wallet Accounts and Banking Services provided by Evolve. 1% is based on a combination of 1) interest paid by Evolve and 2) non-interest promotional rewards paid by Yieldstreet (“Rewards”). Rewards are not available for Wallet Accounts with average daily balances less than $10,000 or more than $250,000. Rewards available to new members only and existing Yieldstreet individual accounts that have not yet invested on the platform (excluding Wallet deposits).
View source version on businesswire.com:https://www.businesswire.com/news/home/20211221005738/en/
CONTACT: Jeanne Yurman
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE
Copyright Business Wire 2021.
PUB: 12/21/2021 02:46 PM/DISC: 12/21/2021 02:46 PM