If you kept all of your savings in one account and just mentally tracked how much you’re saving for your different goals, things can get … messy. Luckily, plenty of modern savings accounts can help organize your savings goals.
There are two main ways to separate your savings goals:
Savings accounts with “buckets” or subaccounts allow you to organize your savings into multiple, distinct categories within a single account. Each bucket can be named for a specific goal, like a vacation fund, emergency savings or a home down payment.
Alternatively, there are bank accounts with a built-in savings goals feature that usually includes the ability to name a savings goal and track your progress. Create individual goals, like “New Laptop” or “Holiday Travel,” in your banking app and set a target amount. Then, as you save, you can track your progress visually or percentage-wise. Additionally, you usually have the option to set up automatic transfers to help you reach each goal faster.
Finder’s banking experts compare hundreds of savings accounts to narrow down the best options for savings goals. While APYs are a must for a top savings account, for this list, we prioritized finding savings accounts with the ability to separate, name and create savings goals, or the functionality of creating subaccounts (buckets, vaults, etc.). To further narrow down our list, we looked at accounts with extra features, such as round-ups and auto-transfers, to make saving even easier.
To be considered on our best list, accounts need to meet the following minimum criteria:
Creating savings goals is the easiest part of saving. You can name each savings goal, set a target rate and daydream about how it will feel to achieve that goal.
The real savings challenge is sticking to the plan after the excitement wears off.
That’s where tools like automatic transfers, visual progress tracking and even small reminders can make a big difference. Here are some tips to keep your savings goals on track:
Some accounts also let you round up purchases or use AI tools to help fund your buckets faster. In the case of SoFi, you can set up round-ups so each debit card purchase is rounded up to the nearest whole dollar, and the rounded-up amount can be transferred to the Vault of your choice.
Savings goals and buckets can be great tools to help build your savings. Whether saving for your kids’ college education, a wedding, vacation or creating an emergency fund, having a savings account with automation and organization tools can help you reach those goals.
Compare the best overall savings accounts for the highest rates and lowest fees in the market.
Yes, all accounts featured on our best list are FDIC insured, either directly through the bank or through partner banks. If you need more deposit insurance than the typical $250,000, check with providers like Wealthfront or SoFi, as they use a network of banks to increase coverage.
For the most part, no, most savings accounts with savings buckets are part of a single savings account, so the total balance earns interest at the same rate.
However, you’ll want to check your account carefully. While most subaccounts consider you’re entire balance, we have found a few accounts that earn interest separately, such as Current’s “pods.” The digital account Current comes with three savings pods, which can earn up to 4.00% in each pod separately by meeting deposit requirements.
Typically, yes, savings accounts with goals do have limits on how many buckets or individual savings goals you can create. For example, Wealthfront allows up to eight savings goals, SoFi offers up to 20 Vaults and Ally allows up to 30 buckets.
That depends on the bank account. Many online savings accounts don’t have withdrawal limitations, such as SoFi and Wealthfront, but some banks will restrict withdrawals up to six per month. Check with your bank to learn your daily, weekly or monthly withdrawal limits.
Opening a top joint high-yield savings account (HYSA) can help you earn a higher APY, but make sure you’re on the same page about your goals.
Earn up to 8% with BCU Powerplus Checking and close to 7% with other accounts from Greenlight, Netspend, Varo, Uphold and more.
Earn up to 6% with Greenlight, 5% with Varo and just under 5% with Barclays, Western Alliance, Uphold, Wealthfront and more.
The DCU Primary Savings Account has a tempting rate, but it may not apply to your entire balance.
SoFi’s high-yield savings account is a hybrid checking and savings account featuring a high APY, cashback rewards and minimal fees.
SoFi, Discover, Wealthfront, Varo, Uphold, Bask Bank, Current, Marcus and Ally offer top vacation savings accounts with high APYs.
If you struggle to save, you could benefit from a savings account or CD that won’t allow you to withdraw funds.
Uninterrupted compound interest accounts pay interest on your initial balance and the interest you continually earn if you don’t withdraw.
Compare the six best savings accounts in the market, such as Netspend, Pibank and Bread.
Compare some of the best high-yield savings accounts available.
