Yotta Savings is a no fee lottery inspired savings account that gives you the chance to win up to $10 million every week. Americans spend billions of dollars on the lottery each year, yet 40% of American’s can’t afford a $400 emergency expense. Yotta Savings was created as a solution to allow you to play in a lottery while you save. Yotta Savings gives you a lottery ticket for every $25 you save, encouraging you to save up money. In addition, you get to keep and carry over the lottery ticket. The more money you save, the more tickets you get and the better chances at winning the jackpot. Like the actual lottery, you can choose your ticket numbers manually, or you get use their random generator.
With their innovative concept, how do they compare to other savings accounts? Yotta Savings has a flat 0.2% interest rate, which is slightly better than the 0.1% you get with traditional banks, but much lower than the top online bank savings accounts such as the 0.5% with Capital One, Discover, and Ally Bank, or the higher 0.66% with Vio Bank. Interest is not the only way to make money on your savings with Yotta Savings. In addition to the 0.2%, they also give prizes if you match any of the 6 lottery ball numbers or 7th Yotta ball number that they draw each day at 9pm EST. Prizes range from $0.10 to $10 million with a Tesla Model 3 somewhere in between. With a deposit of only $75, I made $0.15 in my first week with Yotta. When you consider the winnings, the effective interest yield is 0.2% flat + a variable yield of up to 3%. It’s no wonder that Real Estate Investor and Youtuber Graham Stephen became an angel investor for Yotta Savings.
Yotta Savings does have its limitations. They have a maximum deposit of $10,000 per instance, with a maximum of $40,000 per month. For those of you who already have a healthy savings account, it could take over a month to completely switch to Yotta. Like some other savings accounts, Yotta limits the amount of times you can withdraw your money up to 6 times per month. The average person will never reach these limitations.
Feel free to sign up with Yotta Savings @ https://financethrottle.com/yotta using my Invite Code HYDERFT to get 100 free tickets when you sign up.
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