CIT Savings Connect
Finder Rating: 5 / 5 ★★★★★
APY | 4.60% |
---|---|
Fee | $0 |
Minimum deposit to open | $100 |
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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.
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% |
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Barclays Online Savings | ★★★★★ | Honorable mention | 4.00% |
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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 |
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.
CIT Savings Connect
Finder Rating: 5 / 5 ★★★★★
APY | 4.60% |
---|---|
Fee | $0 |
Minimum deposit to open | $100 |
UFB Premier Savings
Finder Rating: 5 / 5 ★★★★★
APY | 4.81% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Synchrony High Yield Savings
Finder Rating: 4.9 / 5 ★★★★★
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.
APY | 4.15% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
E-Trade Premium savings
Finder Rating: 5 / 5 ★★★★★
APY | 3.75% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Marcus by Goldman Sachs Online Savings
Finder Rating: 4.6 / 5 ★★★★★
APY | 4.15% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Capital One 360 Performance Savings
Finder Rating: 4.6 / 5 ★★★★★
APY | 3.90% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Ally Bank Savings Account
Finder Rating: 4.4 / 5 ★★★★★
APY | 3.85% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Alliant Kids Savings Account
Finder Rating: 4.6 / 5 ★★★★★
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.
APY | 2.95% |
---|---|
Fee | $1 per month |
Minimum deposit to open | $5 |
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 ★★★★★
APY | 4.00% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Bask Bank Interest Savings Account
Finder Rating: 4.6 / 5★★★★★
APY | 4.75% |
---|---|
Fee | $0 |
Minimum deposit to open | $0 |
Bread Savingsâ„¢ High-Yield Savings
Finder Rating: 4.3 / 5 ★★★★★
APY | 4.00% |
---|---|
Fee | $0 |
Minimum deposit to open | $100 |
LendingClub High-Yield Savings
Finder Rating: 3.8 / 5 ★★★★★
APY | 4.25% |
---|---|
Fee | $0 |
Minimum deposit to open | $100 |
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.
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:
If the best savings accounts don’t fit your financial goals, consider these alternatives:
Follow these steps to use your savings account to its fullest potential:
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.
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.
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