This morning, Max members began earning even more on their cash, without lifting a finger.

GE Capital Bank again raised the interest rate it pays on its online savings accounts, from 0.95% to 1.05%. Max members who have GE Capital Bank accounts will benefit immediately.  With Max, there is no need to monitor interest rates, login to accounts to check balances or order funds transfers. Max takes care of all of this automatically, in the background, with no user intervention required.

GE Capital Bank’s increase in rates is another data point suggesting that the rise in bank interest rates that we’ve long been expecting is taking hold. Since the financial crisis, traditional brick-and-mortar banks have continuously cut rates to match the decline in bond yields and manage their balance sheets. Investors have suffered. Yet the online banks – most with different business models than traditional brick-and-mortar banks – can put incremental deposits to good use. As rates start to rise, we expect more entropy in rates, along with a widening of the spread between the interest rates offered by online banks vs. their brick-and-mortar peers. This means that it will become all the more important to focus on whether your cash is optimally invested.

Today, our Max members as a whole are earning a weighted average 0.92% on their cash that’s being optimized, automatically. That’s 0.83% more than the Bankrate.com national savings average of 0.09%, and 0.91% more than most money market funds. With GE Capital Bank’s latest rate increase, Max members are earning as much as 1.05%, FDIC-insured.  You can learn more about Max and how to join at MaxMyInterest.com