Best Savings Accounts in USA
If you’re looking to earn some extra interest on your savings, Savings Accounts in USA opening a high-yield savings account can be a smart move.
A high-interest savings account helps your savings grow faster than a traditional savings account. In general, the best high-yield savings accounts are those with online-only banks. This is because online-only banks have less overhead and can pay better rates than traditional brick-and-mortar banks.
Whether you want to build an emergency fund or spend the money on other financial goals, a high-yield online savings account is a promising option.
According to a Forbes Advisor survey, two-thirds (66%) of Americans say no fees are the most important feature they consider when buying a savings account. To guide your search, we reviewed online savings accounts from 57 banks and credit unions to find the best choices based on interest rates, fees and other factors.
Here are some of the best savings accounts currently available on the market.
Ally Bank is a popular choice for those looking for a high-yield savings account. The Ally Online Savings Account offers a competitive interest rate of 0.50% APY with no monthly maintenance fees or minimum balance requirements. The account also offers easy online access and the ability to set up automatic savings transfers.
Marcus by Goldman Sachs High Yield Online Savings Account
The Marcus by Goldman Sachs High Yield Online Savings Account is another great option for those looking for a high-yield savings account. It offers a competitive interest rate of 0.50% APY with no monthly maintenance fees or transaction fees. The account also offers easy online access and the ability to set up automatic savings transfers.
Discover Online Savings Account
The Discover Online Savings Account offers a competitive interest rate of 0.45% APY with no monthly maintenance fees or minimum balance requirements. The account also offers easy online access and the ability to set up automatic savings transfers. Plus, Discover is known for its excellent customer service.
Capital One 360 Performance Savings Account
The Capital One 360 Performance Savings Account offers a competitive interest rate of 0.40% APY with no monthly maintenance fees or minimum balance requirements. The account also offers easy online access and the ability to set up automatic savings transfers. Plus, Capital One 360 offers a range of other banking products and services, including checking accounts and credit cards.
Synchrony Bank High Yield Savings Account
The Synchrony Bank High Yield Savings Account offers a competitive interest rate of 0.50% APY with no monthly maintenance fees or minimum balance requirements. The account also offers easy online access and the ability to set up automatic savings transfers. Synchrony Bank is known for its high-quality customer service.
In conclusion, choosing the best savings account depends on your individual needs and preferences. Be sure to compare interest rates, fees, and account features to find the account that best fits your needs. With the right savings account, you can earn more interest on your savings and reach your financial goals faster.
A savings account is a federally insured financial product that allows you to make money. The best savings accounts have a high annual percentage rate of return, or APY. The higher the APY, the more money you make over time. Why you can trust NerdWallet: Our writers and editors adhere to strict editorial guidelines to ensure reporting is fair and accurate, so you can choose the financial report that’s right for you.
Please see the rating criteria for banks and credit unions. In 2022, banks began raising savings account rates after lowering rates for a period of time due to fiscal conditions. The account in this article has the highest fixed rate. They can help you grow your emergency fund faster than the average account APY, which is currently just 0.39%.
APYs shown are effective as of May 8, 2023. All other information is current as of May 1, 2023.
