Key takeaways ; Top savings rates have been outpacing inflation, making it a good time to have your money in a high-yield savings account. ; You can still find savings accounts with APYs above 5 percent, while the rate of inflation is currently 2.5 percent. ; Having your funds in a high-yielding savings account helps maximize your money at a time when prices remain elevated on various goods and services.
Sponsored offers ; American Express National Bank savings account ; Openbank savings account ; Marcus by Goldman Sachs savings account ; Promoted offer: It only takes about 5 minutes to open a fee-free account. Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money ; Western Alliance Bank savings account ; Barclays savings account ; BMO Alto savings account ; Promoted offer: 0 Monthly Acct Fees. No Balance Cap to Earn APY. Peak Bank savings account
WalletHub’s top pick is My Banking Direct, an online... In an era of historically high interest on savings accounts... “Online banks generally specialize in higher-yielding loan...
Compare savings accounts to find the best rates. Bankrate's experts have identified the highest savings account interest rates from top banks to help you maximize your earnings.
Account Name, APYs (Annual Percentage Yields) are accurate as of 11/22/2024 ; LendingClub LevelUp Savings Account, up to 5.00%* ; BrioDirect High-Yield Savings Account, 4.85% ; Barclays Tiered Savings, up to 4.80%** ; CIT Bank Platinum Savings, 4.55% (with $5,000 minimum balance)*** ; Western Alliance Bank High-Yield Savings Premier, 4.46%**** ; SoFi Checking and Savings (Member FDIC), up to 4.20%***** ; American Express® High Yield Savings Account, 4.00% (as of 10/24/24)
Key takeaways ; A high-yield savings account can offer a significantly higher interest rate compared to a traditional savings account. It’s important to compare annual percentage yields (APYs) and features when choosing a high-yield savings account. A high-yield savings account with an FDIC-insured bank means your money is safe (within federal guidelines) if the bank fails and in the current rate environment means your money is likely outpacing inflation.
Sponsored offers ; American Express National Bank savings account ; Promoted offer: No fees. Easy deposits and quick withdrawals. ; Promoted offer: Earn our LevelUp rate with $250 in monthly deposits, plus no fees.
Learning how to choose a high-yield savings account is worth the effort, thanks to the high APY and financial security that these types of accounts can provide. ; HYSAs are typically more flexible than CD accounts, and offer comparable FDIC security to traditional checking and savings accounts. ; Always read the terms and conditions to ensure that you’re clear on what benefits and restrictions your HYSA has to offer.
A liquid savings account can provide easy access to your money for emergencies or other short-term financial goals — and a high-yield savings account can give you the added benefit of a rate that’s up to nine times the national average. Such a yield can translate to hundreds more in interest per year for some balances. In addition to choosing a high-yield savings account based on its competitive annual percentage yield (APY), you’ll want to prioritize offerings such as federal deposit insurance and convenience — while avoiding monthly f ...
Chase savings account interest rates ; Chase offers two main savings account options: the Chase Savings account and the Chase Premier Savings account. The premier account pays a slightly higher yield if you’re eligible for the relationship interest rate. For the relationship rate, you’ll need to link this account with a Chase Premier Plus checking account or a Chase Sapphire checking account. You’ll also need to initiate at least five transactions per monthly statement period using the lin...