You can earn cash or airline miles on your savings
Bask Bank offers high-yield savings accounts and certificates of deposit (CDs) at competitive interest rates online. Mileage Savings Accounts are the company’s most well-known banking product, which earns AAdvantage miles instead of interest.
Despite not having physical branches, Bask Bank offers customers good online and mobile banking options to manage their accounts. In addition to providing live chat support online, the bank also provides telephone and email support.
The mileage savings account offered by Bask Bank has received quite a bit of attention. There are, however, some potential disadvantages to consider, such as limited account options and transaction restrictions.
Here’s an overview of all three of Bask Bank’s products, including who might benefit from them and who might want to consider alternatives.
Variable interest rates are offered by the Bask Bank Interest Savings Account, which means the interest rate can change over time. Currently, this account earns 5.10% annual percentage yield, one of the highest rates in the industry. In addition, it does not require monthly maintenance.
Anyone looking for a fee-free savings account with a competitive 5.10% APY should consider the Bask Interest Savings Account. The program does, however, have a few disadvantages and may not be right for everyone. It may be necessary to look elsewhere if you need access to a physical branch. Furthermore, predicting future earnings can be challenging due to the variable interest rate.
Instead of earning interest on your deposited funds, Bask Bank’s Mileage Savings Account earns American Airlines AAdvantage miles. AAdvantage miles can be redeemed for maximum value here, making it a popular option for travel enthusiasts.