If you're looking for a bank that makes your money work harder, Western Alliance Bank offers a range of financial products tailored to your needs. The bank boasts some of the highest rates and has solid offerings in their product lineup, which allows you to manage all your banking in one place. Here's what you need to know.

Western Alliance Bank provides both traditional and high-yield savings accounts. The high-yield savings account, available through the online savings platform Raisin, has one of the highest rates on the market. There's no cap on the balance that earns the Annual Percentage Yield (APY), and you can make unlimited withdrawals. Another benefit is the absence of fees. There are no overdraft or monthly maintenance fees, and you only need a minimum deposit of $1 to open the account. Raisin handles your deposits and withdrawals, bank statements, and customer service, ensuring your funds remain FDIC-insured.

The bank also offers Certificates of Deposit (CDs), with terms ranging from three months to one year and high APYs. The CDs have a minimum opening deposit of $1 and charge an early withdrawal penalty of 90 days of simple interest. This makes Western Alliance Bank a good choice for locking in a high rate for short-term goals.

Western Alliance Bank also features personal interest checking accounts that allow you to earn some money on your balance. Maintaining a minimum daily balance can help you avoid monthly service fees, making it convenient to have both checking and savings accounts under one digital roof. Plus, the Personal Interest Checking account lets you earn interest on your balance, which can be a welcome addition to your finances.

In comparison, other banks also offer an array of banking services, but with different features. For example, an interest-bearing checking account might offer 1% unlimited cash back on qualified purchases with your debit card. Such accounts require a minimum opening deposit of only $25 and don't charge overdraft or maintenance fees. These accounts often offer tiered APYs based on your balance, making them competitive options.

SoFi Bank, another example, offers high APYs with just a $100 opening deposit requirement and no monthly fees. If you have monthly direct deposits of $5,000 or more, you can earn a high APY on both your savings and some interest on your checking balance. New account holders or existing customers who set up their account with qualifying direct deposits can also earn a bonus of up to $300.

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