If you want to save money the right way, you need to get the best savings account. When trying to opt for a savings account, it is best to go for one that will give you high interest over time. There are savings accounts out there that can help you to reach your financial goals. Some have easy-to-meet minimums and charge very few fees. In the course of this article, we will be looking at the 10 Best Bank Accounts For Savings.
1. Bash Savings Bank
The Bash bank is a popular financial institution in the United States of America. It is a bank that offers an interest savings account that offers an APY of 0.70%. They offer mobile check deposits, no ATM card, and no checking accounts. With the bash bank, the minimum initial deposit can be any amount.
2. Affirm Savings Bank
This is a USA-based bank that offers an APY of 0.65%. They do not offer an ATM card, no monthly fee, and no checking accounts. With the Affirm savings account, you will need to use texting to access your online account or use the Affirm mobile app. It is important to note that an Affirm savings account does not require a monthly fee.
3. Quontic Savings Bank
Quontic Bank is a bank that offers a savings account with an APY of 0.65%. To be able to open a savings account with Quontic Bank, you will need a minimum initial deposit of $100. Other interesting perks are that they offer an ATM card, have checking accounts in their offer, and allow mobile check deposits.
In the course of using a Quontic Bank account, you can retain any amount in your savings account. The major downside of the Quontic savings bank account is the high cost of the initial deposit upon account opening.
4. Bo Bank Onward Savings Account
The Bank Onward is a bank that is based in the United States of America. It is a bank that offers its users a savings account with an APY of 0.65%. The minimum initial deposit required upon account opening is $250. This high cost is one of the biggest downsides of a Bo Savings account. They also do not offer an ATM card and no available checking accounts.
5. USAlliance Financial Credit Union Savings Account
The USAlliance Financial Credit Union savings account is an account type that offers a high yield savings account. The interest rate is competitive at 0.65%. They have a very low initial deposit for activation of the high yield savings account is $1.
To be able to earn interest with this financial institution, you need a minimum ongoing balance of $500. Some perks of having this savings account are; the availability of an ATM card, a mobile check deposit functionality, and checking accounts.
6. ConnectOne Bank Online Savings Account
This bank offers an online savings account that is very much scalable and comes with a competitive APY of 0.65%. It is important to note that the minimum ongoing balance needed to start a ConnectOne online savings account is $2,500.
Without this minimum ongoing balance, you are not eligible to start earning an APY. Also worth noting is that the minimum initial deposit of this savings account is $2,500. It is important to note that having checking accounts is not so favorable because they can only be accessed in their local branches.
7. Axos Bank High Yield Savings Account
Another bank on our list that offers a competitive APY for a savings account is Axos Bank. With an APY of 0.61%, you need to have a balance that is less than $25,000. If you want to open a savings account with Axos Bank, you will need a $250 minimum deposit.
Some interesting perks of having a savings account with Axos bank include; having an ATM card, having a mobile check deposit, and a checking account.
8. Synchrony Bank High Yield Savings Account
Synchrony Bank is a financial institution that offers its users a savings account with a competitive yield. This savings account upon opening requires a minimum deposit requirement of $0 and a $0 maintenance fee. It is important to note that the annual percentage yield of Synchrony bank’s high yield savings accounts is 0.50%.
9. Vio Bank High Yield Online Savings Account
The Vio Bank is a financial institution that offers a competitive APY at a percentage of 0.50%. Vio bank requires a minimum deposit requirement of $100 to open a savings account with them. They do compensate this cost with a $0 monthly maintenance fee.
If you have any issues with your Vio savings account, you can use their 24/7 customer service, and reach out to them by phone or by chat. It is important to note that a Vio savings account does not come with an ATM card or a check-writing capability.
10. Ally Bank Online Savings Account
Ally Bank is a USA-based financial institution that offers its potential customers online-based savings account at a competitive APY. The APY of Ally Bank’s online savings account is 0.50%. Ally bank has a $0 minimum deposit requirement, and a $0 monthly maintenance fee.