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With the rising interest rates, it no longer makes sense to leave money in a checking account when you could be earning interest on that money. We reviewed the best savings accounts out there that provide the highest rates with easy access and no fees. Mosts consumers never change their savings accounts and banks take advantage of this.
The national average APY on savings accounts is just 0.35%, according to the Federal Deposit Insurance Corporation (FDIC). This pales in comparison to the best high-yield savings accounts out there. Online banks don’t have physical branch locations and they typically offer higher APYs, lower fees and better benefits than national brick-and-mortar banks. If you are looking a top high-yield savings account, you should consider online banks.
Our list of banks is limited to those that are FDIC-insured, have zero monthly maintenance fees and low (or no) minimum balance requirements.
Top Savings Accounts:
UPB Preferred Savings
- APY 5.02%
- ATM card and unlimited withdrawals
- Money market check writing
- No minimum deposit and no fees
- FDIC insured
