BankPurely Offering 1.30% APY Rate – New Highest Basic Savings Rate

Offer at a glance

• Interest Rate: 1.30% APY
• Minimum Balance: None, $1 to open
• Maximum Balance: None listed
• Availability: Nationwide
• Direct deposit required: None
• Additional requirements: None
• Hard/soft pull: Soft 
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: None
• Insured: FDIC

The Offer

Direct link to offer

• BankPurely is a new online only bank (division of Flushing Bank) that is offering a 1.30% savings account called Saving Purely. They will also plant a tree on your behalf (All trees planted through Plant-It-2020 will be planted in New York State).

Avoiding Fees

This account has no monthly fees

Our Verdict

I do like companies with an environmentally friendly focus, but I think cost cutting (no paper statements) marketed as environmentally friendly is a bit funny. At the end of the day they are currently offering the highest interest rate on a basic savings account, it’s a new bank so we don’t know how likely they are to change rates but saving rates are on the uptick so I’d be somewhat surprised if they did decrease rates in the short term. Most people will be better off opening a new savings account with a sign up bonus (or a checking account) than getting an increase of a few fractions of a percentage.

Hat tip to reader WheelinDealin