3 Reasons to Open a NexBank Savings Account Before the Fed Changes Rates
Image source: Getty Images
The Federal Reserve is widely expected to cut interest rates at its September meeting. And when the Fed cuts rates, banks almost always follow suit by lowering the rates they pay savers.
That makes now the perfect time to move your cash into a high-yield savings account with NexBank, available through Raisin's secure platform.
Here are three reasons why acting fast can make a big difference for your savings.
1. A 4.31% APY -- way above the national average
NexBank's high-yield savings account offers 4.31% APY -- one of the highest rates I've come across after reviewing dozens of high-yield savings accounts. To put it in perspective, a $10,000 deposit could earn about $431 in interest over a year if the rate holds.
That's a huge jump compared with traditional big banks, where interest rates are often fractions of a percent. The best part? You don't have to lift a finger. Your money grows on its own while remaining safe and liquid.
On Raisin's Secure Website.
Member FDIC.
NexBank High-Yield Savings Account from Raisin
On Raisin's Secure Website.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= PoorOn Raisin's Secure Website.
- High APY
- No monthly service fee
- Unlimited ACH transfers
- FDIC insured
- Deposits and withdrawals can only be conducted via ACH transfer to/from an external bank account (limited to one linked external account)
- No checking account offered through Raisin
- No branch access; online only
With a 4.31% APY -- one of the highest rates on any account we recommend -- the NexBank High-Yield Savings Account from Raisin stands out for savers who want serious returns with minimal effort. You only need $1 to open, and FDIC insurance through NexBank keeps your money protected. Raisin’s secure online platform gives you 24/7 access to funds, and there’s even a cash bonus opportunity if you deposit at least $10,000 within 14 days -- with higher deposits earning bigger rewards, up to $1,000. It’s a no-fuss, set-it-and-forget-it option for growing your savings at a top rate.
2. Limited-time cash bonus of $75 to $1,000
On top of a strong APY, NexBank is offering a tiered bonus for deposits funded within 14 days of account opening:
- $10,000–$24,999: $75 bonus
- $25,000–$49,999: $250 bonus
- $50,000–$99,999: $500 bonus
- $100,000+: $1,000 bonus
Even at the entry level, a $10,000 deposit could earn $506 in total first-year earnings ($431 in interest + $75 bonus). Deposit more, and your potential earnings jump -- making this one of the rare chances to boost your savings quickly without taking on risk.
3. FDIC insurance and easy access
Not familiar with NexBank or Raisin? Don't worry. NexBank is a Dallas-based bank, and your deposits are FDIC-insured up to $250,000 per depositor, just like any major bank. Raisin acts only as a secure platform connecting you to NexBank.
Unlike CDs, which lock your money away, this account is fully liquid. You can open with just $1, you can transfer money whenever you need, and there are no monthly fees. That combination of safety, flexibility, and high returns is rare.
Why now is the time to act
The Fed's expected rate cut in September could push banks to lower their savings yields. That means the 4.31% APY could disappear quickly. And the NexBank bonus offer ends Sept. 30, 2025, so delaying could cost you hundreds -- or even thousands -- in potential earnings.
Don't wait to earn easy money
A high APY, a tiered cash bonus, and FDIC protection make this NexBank savings account a standout offer. But the window to take advantage of these benefits is closing soon. Move now if you want your money to work harder while staying safe and fully accessible.
Click here to learn more and open a NexBank High-Yield Savings Account from Raisin today.
Our Research Expert
Brooklyn is a full-time Fool who leads the content team behind product reviews and ratings at Motley Fool Money, drawing on nearly seven years of financial content experience to help readers make smarter money decisions.