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Best savings accounts of 2023

The best accounts offer high APYs with few requirements to earn it.

Updated

Jan 24, 2023

Fact checked

The best savings account should topple the national average of 0.40% APY and have no monthly fees or large balance requirements so you can reap the full reward. With savings rates increasing this year, here are the best savings accounts that offer a large return on your investments without requiring you to jump through hoops.

The 13 best savings accounts

Find the best savings account for you by quickly overviewing the features of each in this table:

Savings account	Finder rating	Best for	APY	Learn more
CIT Savings Connect	★★★★★	Best for high APY with $100 minimum deposit	4.6%	Go to site on CIT Bank's secure site
Barclays Online Savings	★★★★★	Honorable mention	4.00%	Go to site on Barclays's secure site
UFB Premier Savings	★★★★★	Best for high APY	4.81%	Read Review
E-Trade Premium savings	★★★★★	Best for investors	3.75%	Read Review
Synchrony High Yield Savings	★★★★★	Best for ATM access	4.15%	Read Review
Marcus by Goldman Sachs Online Savings	★★★★★	Best for ACH transfers	4.15%	Read Review
Capital One 360 Performance Savings	★★★★★	Best for customer experience	3.9%	Read Review
Ally Bank Savings Account	★★★★★	Best for automated savings	3.85%	Read Review
Alliant Kids Savings Account	★★★★★	Best for kids	2.95%	Read Review
Bread Savings™ High-Yield Savings	★★★★★	Honorable mention	4%	Read Review
Bask Bank Interest Savings Account	★★★★★	Honorable mention	4.75%	Read Review
LendingClub High-Yield Savings	★★★★★	Honorable mention	4.25%	Read Review

Closer look at the best savings accounts

The best savings accounts are those with the highest APYs, lowest fees and lowest minimum requirements on the market to help you grow your nest egg. Each account in our list meets the mark, with differences coming down to ATM access, family friendliness, customer support and knockout features like automated savings.

Best for high APY with $100 minimum deposit

CIT Savings Connect

Finder Rating: 5 / 5 ★★★★★

Go to site on CIT Bank's secure site Read review

The CIT Savings Connect has a top-of-the-line interest rate of 4.6% APY, making it one of the leading savings accounts on the market. And its $100 minimum opening deposit requirement is relatively low. But the only way to deposit money into the account is through mobile check deposits and electronic transfers.

Pros
Great APY. This savings account offers an APY of 4.6%, which makes it one of the leading savings accounts.
Cons
Minimum deposit required. While not the highest minimum deposit requirement we have seen, you need at least $100 to open your CIT Savings Connect account.

Cannot deposit cash or write checks. You can only deposit cash into this account through mobile check deposits or Zelle. Otherwise, you can stick to transfers.

APY	4.60%
Fee	$0
Minimum deposit to open	$100

Go to site on CIT Bank's secure site Read review

verified_user FDIC Insured

Best for high APY

UFB Premier Savings

Finder Rating: 5 / 5 ★★★★★

Read Review

UFB Premier Savings offers an impressive 4.81% APY on its High Rate Savings account. While its interest rates traditionally depend on your account balance, all tiers currently earn the top-of-market APY. And with a complimentary ATM card and free transfers between direct deposit accounts, you can access your money anytime.

Pros
Top-of-market APY. UFB currently offers one of the highest APYs at 4.81% on any balance, a huge earning opportunity.

Optional ATM card. UFB will provide you with an ATM card by request. You can use this card at any of UFB&rsquo

s 91,000+ ATMs nationwide.

No minimum balance. You can open and maintain your account without a required minimum balance.
Cons
Fees. UFB charges fees on a few services, including domestic wire transfers, international wires and paper statements.

Just one location. There is only one physical UFB branch, so you&rsquo

ll likely need to manage your account and customer service online.

APY	4.81%
Fee	$0
Minimum deposit to open	$0

Read Review

verified_user FDIC Insured

Best for ATM access

Synchrony High Yield Savings

Finder Rating: 4.9 / 5 ★★★★★

Read Review

The Synchrony High Yield Savings lets you earn 4.15% APY on your entire account balance. While your deposit amount previously determined your interest rate, all account balance tiers currently earn the same competitive APY. That means you’ll earn a higher-than-average rate no matter how much you fund your account.

And with an optional ATM card, you can access your cash at any Plus or Accel ATM worldwide. Plus, Synchrony Bank will refund up to $5 per month for domestic ATM fees.

Pros
Free ATM card. Access your money at any time with a free ATM card.

4.15% APY. Your money earns a solid 4.15% APY.
Cons
Limited transactions. Synchrony may close your account if you go over six monthly transactions. But due to the temporary suspension of Regulation D, you may not incur a penalty. Contact Synchrony to see if it's currently allowing excessive withdrawals.

Daily withdrawal limits. There's a $1,000 daily limit on ATM withdrawals and a $500 daily limit at point-of-sale locations.

Limited in-person support. Synchrony has one branch location in Bridgewater, New Jersey.

APY	4.15%
Fee	$0
Minimum deposit to open	$0

Read Review

verified_user FDIC Insured

Best for investors

E-Trade Premium savings

Finder Rating: 5 / 5 ★★★★★

Read Review

E-Trade lets you manage both your investments and savings accounts on one mobile app. You’ll earn 3.75% APY on deposits, and while most bank accounts are only FDIC-insured for up to $250,000, this account has protection up to $500,000. But this account only supports electronic deposits and withdrawals.

Pros
Competitive APY. The E-Trade Premium savings account offers a strong 3.75% APY, which is competitive with the top performers on the market

Manage investments. You can easily manage your E-Trade investments and savings on the E-Trade app.

Insured for more than average.Your funds are FDIC insured for up to $500,000 rather than the typical $250,000.
Cons
Must fund the account within 30 days. You have 30 days from account opening to fund your account. If you can&rsquo

t fund it in time, E-Trade will close your account.

Limited branch locations. E-Trade physical locations are only available in 34 states.

APY	3.75%
Fee	$0
Minimum deposit to open	$0

Read Review

verified_user FDIC Insured

Best for ACH transfers

Marcus by Goldman Sachs Online Savings

Finder Rating: 4.6 / 5 ★★★★★

Read Review

At 4.15%, Marcus's Online Savings account offers a solid APY that can hang with the other top contenders on the market. But where it eclipses the competition is how it calculates interest for ACH transfers. While most banks wait until the money has hit your account before you can earn interest, your Marcus Online Savings account begins accruing interest the day you initiate an ACH transfer. That means your money gets a headstart on interest compared to other banks.

Pros
Solid APY. At 4.15%, Marcus&rsquo

s Online Savings account offers a solid APY that can hang with the other top contenders on the market.

Same-day transfers. You can make large same-day deposits of up to $100,000. Funds are cleared at 5 p.m. ET if you transfer by 12 p.m. that same day.

Interest compounds daily. Your invested funds compound daily, rather than monthly. This helps your funds grow faster.
Cons
Online only. You can&rsquo

t manage or deposit your funds in person. You&rsquo

ll need to wire transfer your funds or transfer it.

Balance cap. Although you can keep up to $1 million in your account, funds are only insured up to $250,000,

APY	4.15%
Fee	$0
Minimum deposit to open	$0

Read Review

verified_user FDIC Insured

Best for customer experience

Capital One 360 Performance Savings

Finder Rating: 4.6 / 5 ★★★★★

Read Review

With a Capital One 360 Performance Savings account, you’ll earn 3.9% APY on your entire balance, and it doesn’t cost a dime to maintain this account. Plus, if you ever need help with your account, Capital One’s plethora of customer service options knock it out of the park. You can call for live support, tweet @AskCapitalOne or stop in a local branch or café. That’s right, Capital One also has cafés across the US where you can grab a coffee and speak to a banker in-person at your convenience.

Pros
Minimal fees. You won't pay a dime to maintain the account.

Automatic Savings Plan. Set up automatic transfers from your other Capital One accounts to speed up your savings.
Cons
Costly outbound wires. You'll pay $30 to process domestic outbound wires.

Cap on transactions. Capital One may close your account if you exceed this limit. However, Regulation D is temporarily suspended, so contact the bank to see if this limit is still in place.

APY	3.90%
Fee	$0
Minimum deposit to open	$0

Read Review

verified_user FDIC Insured

Best for automated savings

Ally Bank Savings Account

Finder Rating: 4.4 / 5 ★★★★★

Read Review

The Ally Bank Savings Account couples a solid 3.85% interest rate on every penny you deposit with powerful personal finance tools to organize your savings. Ally’s Buckets lets you set up and keep track of an emergency fund. Plus, you can set up automatic deposits, round up debit card purchases and have Ally transfer unused funds into savings if you have an Ally checking account.

Pros
Competitive APY. You earn a solid 3.85% interest rate on every penny you deposit into your Ally Bank Savings Account.

Savings tools. Use savings buckets to keep track of your emergency fund. Plus, set up automatic deposits, round up debit card purchases and have Ally transfer unused funds into savings if you have an Ally checking account.

No hidden fees. Ally has a transparent fee structure and doesn't charge any monthly maintenance fees.
Cons
No ATM access. This account doesn't come with an ATM card for cash withdrawals, which is a common drawback of most savings accounts.

Excessive withdrawal fee. Expect to pay $10 if you make more than six withdrawals a month, however, this fee may be suspended due to COVID.

No cash deposits. You'll need to get a money order and mail it in if you need to deposit cash.

APY	3.85%
Fee	$0
Minimum deposit to open	$0

Read Review

verified_user FDIC Insured

Best for kids

Alliant Kids Savings Account

Finder Rating: 4.6 / 5 ★★★★★

Read Review

The Alliant Kids Savings Account is a great option for children under 12, as most kids bank accounts are reserved for children 13 and over. This account has no monthly fees if you opt into electronic statements, and Alliant Credit Union will cover the $5 minimum deposit on your behalf. Plus, your kid can earn 2.95% APY if you keep at least $100 in the account.

But the joint account owner must be an Alliant member. Luckily, anyone can join with a $5 donation to its partner charity, Foster Care to Success.

Pros
No fees. Enjoy no monthly fees if you opt into e-statements. Otherwise, it's $1 a month.

Educational programs. Alliant has helpful tools and instructional videos to help you kid learn to manage their money as they grow.

Initial deposit paid. This account has a $5 opening deposit, but Alliant pays it on your behalf when you set up your account.
Cons
Minimum balance to earn interest. You'll need to keep at least $100 in the account to earn the advertised 2.95% APY.

Few branches. Alliant only has two branches in Chicago, Illinois. If you're outside this area, you'll need to be comfortable getting help by phone or email.

Exclusive to Alliant members. The adult on this account must be an existing Alliant Credit Union member. Luckily, anyone can join when they make a $5 donation to its partner charity, Foster Care to Success.

APY	2.95%
Fee	$1 per month
Minimum deposit to open	$5

Read Review

Honorable mentions

These honorable mentions are still great options offering competitive interest rates and low minimum deposits to help diversify your funds.

Barclays Online Savings

Finder Rating: 4.6 / 5 ★★★★★

Go to site on Barclays's secure site Read review

The Barclays Online Savings earns a strong 4.00% APY with no minimum balance requirements or monthly maintenance fees. But this account doesn't support cash deposits or withdrawals, and Barclays puts all your deposits on a five-day hold. Transferred funds from another Barclays account are available immediately.

Pros
4.00% APY. This account's APY is higher than the national average, which is 0.40%.

No minimum balance. You're not required to keep a certain amount in your Barclays Online Savings account.

No maintenance fees. You won't pay any monthly fees with this account.
Cons
No cash deposits. This account doesn't support cash deposits or withdrawals. Instead, you must electronically transfer funds to and from a linked bank account.

Five-day hold on deposits. There's a five-day hold on all funds deposited into your Barclays Online Savings account.

APY	4.00%
Fee	$0
Minimum deposit to open	$0

Go to site on Barclays's secure site Read review

verified_user FDIC Insured

Bask Bank Interest Savings Account

Finder Rating: 4.6 / 5★★★★★

The Bask Interest Savings Account earns one of the highest interest rates we’ve seen so far — 4.75% APY on your entire balance. And with no monthly fees, initial deposit requirements or minimum balance rules, this account has very few restrictions. The biggest downside is that you can’t open this as a joint account.

Pros
Competitive APY. Earn 4.75% APY &mdash

one of the highest rates we&rsquo

ve seen.

No minimums. Bask Bank doesn&rsquo

t require a minimum deposit or balance to maintain its savings account.

Few fees. There are no account fees associated with the Bask Bank Interest Savings Account Account.
Cons
Online only. You&rsquo

ll need to manage your account and any customer service questions online.

No joint accounts. You can&rsquo

t open a joint savings account at Bask Bank.

APY	4.75%
Fee	$0
Minimum deposit to open	$0

verified_user FDIC Insured

Bread Savings™ High-Yield Savings

Finder Rating: 4.3 / 5 ★★★★★

Read Review

The Bread Savings High-Yield Savings account boasts an impressive interest rate of 4% APY. While it supports balances up to $1 million per account and $10 million per customer, it’s only FDIC-insured for up to $250,000. While you won’t pay a monthly maintenance fee, you’ll need $100 to sign up. And Bread Financial may hold your deposits longer than usual for new accounts for the first 30 days.

Pros
Strong APY. This savings account offers an APY of 4%, which is among the top rates on the market

No monthly fee. You won&rsquo

t pay a monthly fee to maintain this savings account.

No incoming wire transfer fee. Unlike many other savings accounts, Bread Savings doesn&rsquo

t charge you for incoming wire transfers.
Cons
Minimum deposit required. You need to deposit at least $100 to open your account.

New account restrictions. Funds deposited may not be available within the first 30 days of opening your account.

Account maximums. Although the account can hold no more than $10 million and you can deposit no more than $1 million at a time, like most banks your funds are only insured up to $250,000.

APY	4.00%
Fee	$0
Minimum deposit to open	$100

Read Review

verified_user FDIC Insured

LendingClub High-Yield Savings

Finder Rating: 3.8 / 5 ★★★★★

Read Review

LendingClub offers a competitive 4.25% APY with an optional ATM card. Plus, it comes with an integrated financial dashboard with tools for budgeting and analyzing when you also connect a LendingClub checking account. Keep in mind that you'll need to make a deposit of at least $100 to open the account.

Pros
Competitive APY. Enjoy a 4.25% APY no matter your balance.

Free ATM card. LendingClub offers an optional ATM card for easy access to your money. Plus, there&rsquo

s no ATM fees.

Personal finance tools. The LendingClub app offers several personal finance tools for budgeting, spending and trends.
Cons
Limited branches. There&rsquo

s only one LendingClub branch office and it's located in Boston.

Minimum deposit. Though small, you&rsquo

ll still need to pay a deposit of at least $100 to open the account.

New account rules. There are a few account restrictions in place during your first 30 days, like a withdrawal cap of $50 at ATMs.

APY	4.25%
Fee	$0
Minimum deposit to open	$100

Read Review

verified_user FDIC Insured

Methodology: How we choose the best savings accounts

When judging the best savings accounts we look at major factors, including minimum opening deposits below $100, APYs and whether there are steep balance requirements to earn it. We choose accounts with the highest APYs and fewest requirements for our best list. When accounts are similar, we consider secondary features, such as the presence of additional fees, balance limitations or additional banking perks like optional ATM cards.

How to choose the best savings account

Watch our 60 second video below!

Look for these features when trying to find the best savings account for you:

Fits your needs. The right account should align with why you’re saving. For example, choose a business account if you’re a business owner, a kids savings account if you’re saving for your child, an ethical account if you want to make a difference and so on.
Low fees. The best savings accounts don’t charge monthly fees. More rarely, you may find some savings accounts that don’t charge on certain wire transfers.
Competitive APYs. You want an account that’s going to compound and reward you for saving. The best ones have competitive APY at least 10x higher than the national average.
Low opening deposit. There are plenty of accounts that let you get started with as little $0 but some may require you to have $500 or more. Note any opening deposit requirements and make sure you can comfortably meet them.
Easy access to your money. Most savings accounts don’t come with ATM cards, but some do. Think about how you want to access funds and find an account that matches your needs. Bear in mind that most savings accounts limit your monthly transactions to no more than 6 withdrawals.
Safety. Make sure that your savings acccount is insured by the FDIC or NCUA. Most financial institutions offer insurance up to $250,000.
Online savings. The best high-yield savings accounts are from online banks. Because they don’t have to worry about overhead costs, they can offer better perks like stronger APYs.

Pros and cons of savings accounts

With so many savings options out there, it can be hard to determine how to pick the best one for you. Consider these benefits and drawbacks to look out for:

Benefits

Low opening deposits. You can open some savings accounts with as little as $0.
No monthly fees. Many savings accounts waive monthly maintenance fees or don’t charge them at all.
Savings perks. Savings accounts may come with features that help you grow your money. For example, Ally Bank rounds up purchases you make and deposits the extra into your account.
Transfer funds. Most banks let you easily transfer money between your savings and other bank accounts.
Protect other accounts. If you have your checking and savings account at the same bank, you can link them for free overdraft protection.

Drawbacks

Limited accessibility. Most savings accounts don’t come with a debit or ATM card. You also may pay a fee if you make more than six outgoing transactions a month. Although this federal regulation is temporarily suspended during the coronavirus pandemic, some banks are still limiting transactions.
Minimal return on investment. Savings account interest rates are affected by federal rates. This means that your APY may drop if the federal rates drop.
Fees. You may pay fees if you can’t meet minimum deposit limits or you make more than six withdrawals a month.
Tiered APY requirements. Some savings accounts come with balance requirements to earn the highest APY.

Savings account alternatives

If the best savings accounts don’t fit your financial goals, consider these alternatives:

Money market accounts. Want the accessibility of a checking account with the earning power of a savings account? A top money market account might be right for you. But be prepared for higher opening deposits.
Digital bank accounts. Many digital banks, like Chime and Varo, offer two-in-one accounts designed for spending and saving. Some even have budgeting tools to help you better manage your money.
CDs. If you’re confident you won’t need your money for a while, lock it away in a CD with a high rate.
Investment accounts. If you’re interested in higher rates of return and are willing to accept more risk, you could consider investing in brokerage, government or retirement investment accounts.
Cash management accounts. A cash management account allows you to save and spend money, as well as manage manage investments and access various wealth management tools.
Crypto savings accounts. These are similar to traditional savings accounts but house your cryptocurrency rather than FIAT money. investment accounts.

How to make the most out of your savings account

Follow these steps to use your savings account to its fullest potential:

Maintain a minimum balance. Some accounts may require you to hold a monthly minimum balance to earn a higher rate or to avoid a fee. Make sure you maintain that balance to see your savings grow.
Monitor account activity. Take advantage of your online or mobile app to monitor your activity and stay on top of any unexpected charges or fees.
Savings features.Take advantage of savings roundups or set up recurring transfers to your savings account.
Get a strong rate. Decide whether your rate is enough or if it’s worth shopping around for other savings accounts with higher interest rates. You’ll also want to ensure the account compounds daily, if possible.
Consider investing. After your savings account has grown, you may want to consider other types of investments. Money market accounts and CDs can provide better returns than standard savings accounts, whereas mutual funds, stocks and other investments can offer even greater potential.

Compare savings accounts from our partners

Use this table to compare savings accounts by APY, monthly fee and minimum deposits. Then select up to four accounts and click Compare to see how their features stack up.

Name	Product	Account type	Annual Percentage Yield (APY)	Minimum balance to earn interest	Minimum deposit to open	Offer	Estimated total balance
Bonus SoFi Checking and Savings Finder Rating: 4.6 / 5: ★★★★★ SoFi Checking and Savings Finder Rating: 4.6 / 5: ★★★★★	Bonus	Traditional savings,Checking	4.20% 1.20%	$0	$0	Earn up to $250 with a qualifying direct deposit, terms apply. This offer is available until December 31, 2023.	$1,042	Go to site View details	Compare	loading Fetching your data...
Western Alliance Bank High Yield Savings Account through SaveBetter Finder Rating: 4.9 / 5: ★★★★★ Western Alliance Bank High Yield Savings Account through SaveBetter Finder Rating: 4.9 / 5: ★★★★★		Traditional savings	5.05%	$0	$1		$1,050.50	Go to site View details	Compare	loading Fetching your data...
American Express® High Yield Savings Account Finder Rating: 4.6 / 5: ★★★★★ American Express® High Yield Savings Account Finder Rating: 4.6 / 5: ★★★★★		Traditional savings	4.00%	$1	$0		$1,040	Go to site View details	Compare	loading Fetching your data...
Bonus Step Finder Rating: 4.4 / 5: ★★★★★ Step Finder Rating: 4.4 / 5: ★★★★★	Bonus	Savings app	5.00%	$0.01	$0	Earn $1 for every person that joins using your unique link or code. They'll also get $1	$1,050	Go to site View details	Compare	loading Fetching your data...
CIT Bank Platinum Savings Finder Rating: 4 / 5: ★★★★★ CIT Bank Platinum Savings Finder Rating: 4 / 5: ★★★★★		Traditional savings	4.85% 0.25%	$0	$100		$1,048.50	Go to site View details	Compare	loading Fetching your data...
Upgrade - Premier Savings Finder Rating: 4.3 / 5: ★★★★★ Upgrade - Premier Savings Finder Rating: 4.3 / 5: ★★★★★		Traditional savings	4.81%	$1,000	$0	Upgrade to Rewards Checking and earn 2% cash back on common everyday expenses and recurring payments and unlimited 1% cash back on every other debit card charge2	$1,048.10	Go to site View details	Compare	loading Fetching your data...
Bonus U.S. Bank Elite Money Market Finder Rating: 3.9 / 5: ★★★★★ U.S. Bank Elite Money Market Finder Rating: 3.9 / 5: ★★★★★	Bonus	Money market	4.00% 0.75% 0.01%	$0	$100	Up to 4.00% APY on balances between $25,000 and $499,999.99 when open a new Elite Money Market account, subject to certain terms and limitations. Offer valid through June 13, 2023.	$1,040	Go to site View details	Compare	loading Fetching your data...
CIT Savings Connect Finder Rating: 5 / 5: ★★★★★ CIT Savings Connect Finder Rating: 5 / 5: ★★★★★		Traditional savings	4.60%	$0	$100		$1,046	Go to site View details	Compare	loading Fetching your data...
Barclays Online Savings Finder Rating: 4.6 / 5: ★★★★★ Barclays Online Savings Finder Rating: 4.6 / 5: ★★★★★		Traditional savings	4.00%	$0	$0		$1,040	Go to site View details	Compare	loading Fetching your data...
First Mid Bank & Trust through SaveBetter Finder Rating: 4.9 / 5: ★★★★★ First Mid Bank & Trust through SaveBetter Finder Rating: 4.9 / 5: ★★★★★		Traditional savings	4.90%	$0	$1		$1,049	Go to site View details	Compare	loading Fetching your data...
Quontic Bank High Yield Savings Finder Rating: 4.6 / 5: ★★★★★ Quontic Bank High Yield Savings Finder Rating: 4.6 / 5: ★★★★★		Traditional savings	4.25%	$0	$100		$1,042.50	Go to site View details	Compare	loading Fetching your data...
Patriot Bank High-Yield Money Market Deposit Account Finder Rating: 4.9 / 5: ★★★★★ Patriot Bank High-Yield Money Market Deposit Account Finder Rating: 4.9 / 5: ★★★★★		Money market	5.02%	$0	$1		$1,050.20	Go to site View details	Compare	loading Fetching your data...
Lemmata Savings Bank Money Market Account Finder Rating: 4.6 / 5: ★★★★★ Lemmata Savings Bank Money Market Account Finder Rating: 4.6 / 5: ★★★★★		Money market	4.55%	$0	$1		$1,045.50	Go to site View details	Compare	loading Fetching your data...
Cloud Bank 24/7 Finder Rating: 4.3 / 5: ★★★★★ Cloud Bank 24/7 Finder Rating: 4.3 / 5: ★★★★★		Traditional savings	5.00%	$0	$1		$1,050	Go to site View details	Compare	loading Fetching your data...
American First Credit Union Money Market Account Finder Rating: 4.2 / 5: ★★★★★ American First Credit Union Money Market Account Finder Rating: 4.2 / 5: ★★★★★		Money market	5.03%	$0	$1		$1,050.30	Go to site View details	Compare	loading Fetching your data...
Continental Bank High Yield Savings Finder Rating: 4.3 / 5: ★★★★★ Continental Bank High Yield Savings Finder Rating: 4.3 / 5: ★★★★★		Traditional savings	4.41%	$0	$1		$1,044.10	Go to site View details	Compare	loading Fetching your data...
Great Lakes FCU Money Market Account through SaveBetter Finder Rating: 4.7 / 5: ★★★★★ Great Lakes FCU Money Market Account through SaveBetter Finder Rating: 4.7 / 5: ★★★★★		Money market	5.00%	$0	$1		$1,050	Go to site View details	Compare	loading Fetching your data...
The State Exchange Bank HYSA Through SaveBetter Finder Rating: 4.7 / 5: ★★★★★ The State Exchange Bank HYSA Through SaveBetter Finder Rating: 4.7 / 5: ★★★★★		Traditional savings	4.85%	$0	$1		$1,048.50	Go to site View details	Compare	loading Fetching your data...
Blue FCU Money Market Deposit Account through SaveBetter Finder Rating: 4.8 / 5: ★★★★★ Blue FCU Money Market Deposit Account through SaveBetter Finder Rating: 4.8 / 5: ★★★★★		Money market	4.90%	$0	$1		$1,049	Go to site View details	Compare	loading Fetching your data...
Chime Savings Finder Rating: 4.6 / 5: ★★★★★ Chime Savings Finder Rating: 4.6 / 5: ★★★★★		Savings app	2.00%	$0.01	$0		$1,020	Go to site View details	Compare	loading Fetching your data...

Bottom line

The best savings accounts feature low opening deposits and high APYs to help you grow your nest egg. As always, compare your options until you find a savings account that has everything you need.

Thank you for your feedback!

Cassidy Horton

Cassidy Horton is a freelance copywriter and journalist, specializing in personal finance. Her writing and analysis has been featured in Forbes Advisor, Money, The Balance, Money Under 30, Insure.com and other top digital publishers. She holds a BS in public relations and an MBA from Georgia Southern University.

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APY	4.60%
Interest compounding	Daily
Minimum balance to earn interest	$0

APY	3.90%
Interest compounding	Monthly
Minimum balance to earn interest	$0
Monthly transaction limit	6
Fee per transaction over the limit	$0