With the multitude of funding apps on the market, deciding the place to park your hard-earned money might be fairly the head-scratcher. Enter Tellus, a flashy newcomer within the app scene that allows you to dive into actual property investments and guarantees juicy returns of no less than 5.0% APY. Sounds tempting, proper?
Whereas it’s been marketed as a high-yield financial savings account equal, we have now a number of reservations about that declare (keep tuned for the specifics on this Tellus App assessment). The Tellus idea is undeniably intriguing.
However the million-dollar query is, is Tellus the true deal, and is it price your valuable time and power? One method to discover this out is to have a look at present customers’ phrases! So let’s try this, and whereas we’re at it, dissect each nook and cranny of Tellus so you may make a well-informed resolution on whether or not Tellus financial savings is your monetary cup of tea.
Be taught Extra About Tellus
Execs & Cons
Execs:
- Simple to make use of
- Aggressive rates of interest
- Has a stacks and group function
- Big selection of account varieties
- Little to no charges
Cons:
- Not FDIC insured
- Could require additional consideration for finest outcomes
What Is Tellus?
Tellus is a fintech Cupertino-based service that provides a novel mix of monetary companies, bridging the hole between high-yield financial savings accounts and funding apps. Their app offers fee-free entry to funding merchandise and property administration instruments.
Tellus stands out with APYs starting from 5.0% to five.9% and every day curiosity funds, positioning itself as a versatile financial savings account different. As an example, persistently depositing $100 monthly may yield $58,043 in 30 years, far surpassing typical financial savings accounts.
Nevertheless, it’s very important to notice that Tellus isn’t a financial institution however an funding agency centered on residential actual property. Importantly, they lack FDIC insurance coverage, so investing with them carries inherent dangers.
Tellus collaborates with established monetary establishments like J.P. Morgan Chase Financial institution, Wells Fargo Financial institution, and Sunwest Financial institution to safe person funds.
Options of Tellus
Tellus affords a flexible suite of monetary companies:
- Tellus Enhance Account: This account combines versatile entry with potential boosts for as much as 10% curiosity. The APY varies however sometimes ranges from 4-6%.
- Tellus Reserve Account: A extra easy choice with a 4.5% base APY and no boosts, finest for these looking for easy returns. The present restrict is $2,500.
- Tellus Vaults: Like a CD account, Vaults supply greater rates of interest (5.1-5.9% APY) for longer commitments. Early withdrawals forfeit curiosity, with a minimal deposit of $1,000.
- Property Administration Software program: Focused at landlords, it facilitates tenant communication and lease assortment.
Key Options:
- Each day compounding curiosity and 12 p.m. PST every day deposits.
- Strong safety measures.
- Various account choices.
- Periodic boosts for greater APY.
- Person-friendly app.
- Versatile deposits and withdrawals.
- “Stacks” for setting financial savings targets.
Who’s Tellus For?
Tellus caters primarily to the next teams:
- People searching for greater yields than what conventional banks supply might discover Tellus a compelling different. The every day boosts function can speed up financial savings progress in comparison with standard financial savings accounts.
- These eyeing actual property investments and passive revenue might discover Tellus choice. Its aggressive rates of interest and the Tellus Enhance function current an attractive choice for traders aiming to maximise their returns.
- Tellus affords sturdy property administration software program geared up with instruments for rental property administration. This function streamlines numerous duties, making it ultimate for property managers looking for effectivity enhancements.
What Individuals Say…
Total Score: 4.4
“I have to say that Tellus stands out as one of the vital spectacular and user-friendly platforms I’ve ever encountered.
From the second I began utilizing Tellus, I used to be struck by how intuitive and straightforward to navigate the interface was. The platform is extraordinarily well-designed, with clear menus and buttons.” – Greg Franklin
“They’ve excellent digital customer support that has been good about responding to my wants. They do replace the app rather a lot, however that could be a signal they’re continually enhancing and I really like with the ability to earn boosts on my cash simply by signing in every day.” – Noah
“Love the app – easy and straightforward to make use of. The wonderful half is to compound curiosity daily. It’s a miracle wow breathtaking trigger you don’t have to attend for the entire total yr to maintain up the nice work guys thanks.” – Ludvig Laurent
“I’ve been utilizing ‘Tellus’ for some time and it’s been a fantastic expertise up to now. It’s a really first rate app with a neat person interface. Each day trivia is enjoyable to play, study some fundamental actual property issues and earn a every day enhance which is wonderful. Throughout these excessive value markets getting 3% APY curiosity is smart to me. I actually favored the shopper help/buyer success staff immediate assist/help on any queries. They’re able to hearken to clients and help their wants. Total I’m pleased with Tellus primarily based on my up to now expertise.” – Surya Ok.
“Buyer help is great and well timed….fairly often real-time solutions to questions. I’ve been more than happy with the flexibility to trace rental property and tenants in a single place. This makes tax time a lot simpler. I’m more than happy to have discovered Tellus and I admire that they’re going sturdy and continuously updating the platform.” – Lisa (Softwareadvice.com)
Tellus – Closing Thought
Tellus has you coated for those who’re available in the market for a high-yield financial savings product. Their Reserve Account affords a stable base of 4.75% APY in your deposited funds. Go for the Enhance Account, and you may get pleasure from a base 3.85% APY, with the potential to supercharge it as much as a powerful 6.00% APY by “power-ups.”
Vaults are one other enticing choice, providing as much as 5.12% APY with none most steadiness restrict. Plus, Tellus introduces Stacks, a handy software to funds and save for particular monetary targets.
One of the best half? No charges are related to any of the Tellus accounts, and you may depend on responsive buyer help by way of electronic mail or in-app stay chat. Tellus is a implausible selection for those who’re looking for a hassle-free and rewarding method to make your cash work more durable whereas incomes excessive curiosity.
For a deeper dive into Tellus and extra detailed info, don’t overlook to click on right here to enroll!
Get Began With Tellus
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