Cash Management Center: Rates and Tiers
Cash Sweep Program
Cash Sweep Program pays interest at specific rates based on the tiers below, which yields a blended rate over the entire balance.
|
As of April 18, 2023 |
| Tier |
Rate |
APY |
| $0–$24,999 |
0.46% |
0.47% |
| $25,000–$74,999 |
0.47% |
0.47% |
| $75,000–$99,999 |
0.48% |
0.48% |
| $100,000–$249,999 |
0.49% |
0.49% |
| $250,000–$499,999 |
0.49% |
0.49% |
| $500,000–$1,999,999 |
0.50% |
0.50% |
| $2,000,000+ |
1.16% |
1.17% |
You will be paid in accordance with the rates published above, which are effective as of the date stated on the website.
Rates are variable and may change at any time. Each day, we calculate the interest on your cash and add it to your account monthly. We round the daily interest amount to the nearest $0.01. If your daily interest is less than $0.005, then you may not be paid any interest on that day.
|
As of April 18, 2023 |
| Examples |
Blended Rate |
APY |
| $8,000 |
0.46% |
0.47% |
| $45,000 |
0.47% |
0.47% |
| $75,000 |
0.47% |
0.47% |
| $200,000 |
0.48% |
0.48% |
| $400,000 |
0.48% |
0.49% |
| $750,000 |
0.49% |
0.49% |
| $1,500,000 |
0.50% |
0.50% |
| $3,000,000 |
0.72% |
0.72% |
| $6,000,000 |
0.94% |
0.94% |
To help you get a higher interest rate, we combine the Cash Sweep Program funds of all your accounts into one large fund. If you have $10,000 in cash in an individual, retirement, and joint account, we deposit your money as $30,000, rather than three smaller deposits of $10,000. This allows you to reach a higher tier and earn more interest.
FDIC CASH PLUS
An FDIC-insured enhanced-yield deposit designed to provide income on larger cash deposits, safety of capital and next-day access to funds.
|
As of April 18, 2023 |
| Amount Invested |
Rate |
APY |
| $0-$24,999 |
0.00% |
0.00% |
| $25,000-$49,999 |
0.93% |
0.93% |
| $50,000-$99,999 |
1.63% |
1.64% |
| $100,000-$249,999 |
2.32% |
2.35% |
| $250,000-$499,999 |
3.02% |
3.07% |
| $500,000-$999,999 |
3.49% |
3.55% |
| $1,000,000+ |
3.49% |
3.55% |
Interest rates are based on how much cash you deposit using FDIC CASH PLUS. Rates are variable and may change at any time. Each day, we calculate the interest on your cash and add it to your account monthly. We round the daily interest amount to the nearest $0.01. If your daily interest is less than $0.005, then you may not be paid any interest on that day.
Important Notes
- Within a single account, you must have at least $25,000 in FDIC CASH PLUS to earn interest. If you deposit $15,000 in your individual account and $10,000 in your IRA account, neither account earns interest. As another example, if you deposit $15,000 in your individual account and $30,000 in your IRA, only your IRA earns interest.
- As long as the minimum balance is met and maintained, interest is earned from “dollar one” of the deposit at the applicable rate on the entire balance in FDIC CASH PLUS.
- Balances deposited in FDIC CASH PLUS in one account are not aggregated with balances deposited in FDIC CASH PLUS in any other account for purposes of calculating or earning interest). For example, if $15,000 is deposited in FDIC CASH PLUS in an IRA account and $15,000 is deposited in FDIC CASH PLUS in an individual account, even under the same taxpayer ID or membership, neither FDIC CASH PLUS deposit in either account will earn any interest. As another example, if $15,000 is deposited in FDIC CASH PLUS in an IRA account and $30,000 is deposited in FDIC CASH PLUS in an individual account under the same taxpayer ID, only the FDIC CASH PLUS deposited in the individual account will earn interest, and it will earn interest payable on a balance of $30,000 (not $45,000).
- FDIC CASH PLUS deposits can be made only in Non-folio Holdings in each account, and amounts deposited in any one account are not aggregated for rate purposes with amounts, including amounts deposited as FDIC CASH PLUS, in any other account. In addition, unlike our Cash Sweep Program, you must choose to make an FDIC CASH PLUS deposit (buy it like a security with the ticker FDIC.PLUS) — we do not do it automatically for you.
- We do not charge any fees to deposit or withdraw cash from FDIC CASH PLUS.
FDIC CASH
The FDIC CASH deposit earns interest at a flat rate on the applicable balance.
Important Notes — FDIC CASH
- The above interest rate and annual percentage yield are effective currently and subject to change at any time.
- There is no minimum to earn interest.
- This is a variable rate account so rates are subject to change after the account is open.
- Each day, we calculate the interest on your cash and add it to your account monthly. We round the daily interest amount to the nearest $0.01. If your daily interest is less than $0.005, then you may not be paid any interest on that day.
- Balances in FDIC CASH are not aggregated with any other insured deposit options for the purposes of determining interest rates.