Best Savings Accounts for the Holidays and Christmas

In 2025, Americans reported spending an average of $890.49 on gifts and holiday items for the season. With the holidays fast approaching, narrow down the best savings accounts to stash away your holiday savings for 2026.

7 best holiday savings accounts

We narrowed down these top bank accounts to save up for the holidays based on monthly fees, APYs, features and accessibility.

Savings account	APY	Monthly fee	Why it’s great for holiday savings	Learn more
Varo High-Yield Savings Account	Up to 3.75% APY	$0	Savings round-ups with debit card purchases Automatic contributions called Save Your Pay 1% APY on balances over $5,000	Read Review
SoFi Checking & Savings	Up to 3.3% on Savings	$0	Hybrid checking and savings Checking balance earns 0.5% APY Create up to 20 Vault subaccounts to organize savings goals Overdraft coverage and protection features Savings round-ups and recurring transfers	Go to site
Wealthfront	Up to 3.55%	$0	Create up to eight savings goals Recurring transfers and automated savings plans High FDIC insurance Optional debit card for spending	Go to site
Revolut	Up to 4.00% APY, depending on plan	$0 to $16.99	Create up to 100 savings Pockets to sort goals High APY for all plans Savings round-ups and recurring transfers International travel perks and currency conversions	Go to site
Current	Up to 4% on each pod	$0	Hybrid checking and savings Create up to three Pods to sort goals Budgeting features and spending categories	Go to site
BCU Powerplus Checking	Up to 8% APY	$0	One of the highest rates in the market Nationwide membership availability As a checking account, you can spend saved funds easily	Read Review
Ally Savings	Up to 3.1% APY	$0	Create up to 30 buckets to sort goals Surprise Savings to move cash from checking to savings automatically Savings round-ups	Read Review

• SoFi terms and conditions

  New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 9/23/26. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
  
  Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 9/23/26. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
  
  We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
  
  SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
  
  We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
  
  Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
  
  Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
  
  Earn up to 4.40% Annual Percentage Yield (APY) on one SoFi Savings account with a 1.10% APY Boost (added to the 3.30% APY as of 10/20/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/27. Rates are variable, subject to change. Terms apply at sofi.com/banking#4. SoFi Bank, N.A. Member FDIC.

• Revolut terms and conditions

  The Annual Percentage Yield (APY) is a variable rate and may change at any time. These APYs are accurate as of 9/1/2026 and apply only to plan users in good standing. Plan fees apply and cancellation fees may apply for Premium and Metal plans. Terms & Conditions apply. No min. balance to open; $0.01 min. to earn APY. 4.00% APY for Metal plan users, 3.75% APY for Premium plan users, and 3.50% APY for Standard plan users with balances held in a Max Rate Savings Account. For balances in other Savings Account, the rate is 3.10% APY Metal, 3.00% for Premium, and 2.90% for Standard. Only 1 Max Rate Savings Account is permitted and is limited to $10,000 USD in user-initiated deposits. The max combined balance of all Savings Account is $250,000 per user. Savings Account services provided by Cross River Bank, Member FDIC, insured up to $250,000.

Methodology: How we chose the best holiday savings accounts

Finder’s banking experts compare hundreds of savings accounts (and some interest-bearing checking accounts) to narrow down the best options for holiday and Christmas savings goals.

To be selected, the account must offer at least a 3% APY and provide at least one plan option with no monthly fees. We prioritized choosing savings accounts with specific savings tools to make it easier to sort your holiday savings from regular savings. To be considered on our best list, accounts need to meet the following minimum criteria:

• Competitive APYs, above 3%
• $0 monthly fee plan option available
• Deposit insurance
• Nationwide availability
• Optional, but preferred:
  • Subaccount creation
  • Recurring transfers available
  • Savings goal creation
  • Savings round-ups

How much should I save for the holidays in 2025?

Americans reported spending an average of $900 on the 2024 holiday season. However, that’s just an average reported amount.

How much you should save for the holidays depends on your budget, how much you can actually afford to spend and how many events and people you have to buy for.

Example budget for gift giving

Let’s say you have to buy presents for your spouse, your two parents, your mother-in-law, two young nieces, your grandfather, your brother, three friends and one secret Santa gift for a work Christmas party. That’s 12 people to shop for.

Example budget:

• Spouse: $100
• Parents: $50 each
• Mother-in-law: $50
• Two nieces: $25 each

• Grandfather: $50
• Brother: $50
• Three friends: $25 each
• Secret Santa: $25

This plan adds up to $500. Limiting yourself based on how much to spend per person, instead of counting the number of gifts, can help keep your budget in check and everything as fair and affordable as possible, within reason.

What do people on Reddit say?

On r/Parenting, many parents ask how much they should spend on gifts for relatives and children. Answers vary widely, often based on their kids’ age. For example, one user said their child was six months old, and they spent $40. For older kids, many parents report spending between $100 and $200 per child, focusing on the amount spent versus the number of presents to open.

Many Redditors report spending around $25 to $50 each for other loved ones, such as aunts, uncles, their kids’ teachers, cousins, friends and so on.

There were, of course, some users reporting spending thousands of dollars on the holidays, but for the most part, most reported a budget around $400 to $1,000, depending on how many people they needed to shop for, their kids’ ages, family size and planned events.

How to make a savings plan for the holidays

If you plan on needing to save around $900 for the holiday season, here are some ways to break up that savings goal:

How to save $900 in two months:

• $450 per month
• $225 biweekly
• $112.50 per week
• $15 per day

How to save $900 in three months:

• $300 per month
• $150 biweekly
• $75 per week
• $10 per day

Setting up recurring transfers

If your bank lets you set up recurring transfers, you can usually choose a percentage of your paycheck or deposits to be sent automatically to a savings account.

Here are different percentages that save $900 in two months if you’re paid biweekly, based on your wage:

• $800 biweekly: 28.1%
• $1,000 biweekly: 22.5%
• $1,500 biweekly: 15.0%
• $3,000 biweekly: 7.5%

Related: Christmas Club Accounts

Conservative holiday savings goal for 2025

Of course, not everyone needs to save $900 for the holidays. For a more conservative holiday savings goal, you could aim for $300 in three months.

To turn that into a simple, actionable plan, save $50 per biweekly paycheck for three months. That’s a good chunk of cash you can use to buy presents, get some new Christmas lights and even buy a turkey.

Bottom line

I doubt your loved ones want you to go into debt to buy presents or afford holiday decor this year. And on top of that, 53% of Americans expected to receive at least one unwanted gift in 2024 — which adds up to about $10.1 billion on unwanted presents.

Don’t break your budget to buy tons of unnecessary gifts or decor that’s only out for a month or two. Choose an amount that fits nicely within your budget, and find a goal that is attainable within your time frame.

For more savings options, compare the best overall savings accounts in the market.