6/28/2023
Interest rates are changing a lot in the last months in US banks, we analyze and update the information of the products offered by banks all over the country. We check hundreds of banks daily, and that's why we want to show you the best interest rates for your savings.
You may be interested in: Savings accounts vs Money Market accounts
If you want a good interest rate in this year 2023 on a savings account the best banks are the ones that work online, since the interest they pay is higher than traditional banking, but you can also find good deals at some branch banks.
As of today it is possible to find interest rates of up to 5.17% APY at some banks, good interest rates to make your savings grow.
CFG Bank High Yield Money Market Account
CFG Bank markets a money market savings account with an interest rate of 5.17% APY. Interest is high, but a minimum amount of $1,000 is required to open the account and it only pays interest if the average daily balance is over $1,000.
Money market accounts may have some limits on monthly withdrawals, check with your bank for details.
- ✔️ Interest: 5.17% APY.
- ✔️ No set-up fee and no monthly fee.
- ❌ Only pays interest on days the balance is over $1,000.
- ❌ Minimum opening amount $1,000.
- 🌐 High Yield Money Market Account
Upgrade Premier Savings Account
The Premier Savings account offers a 4.81% APY yield whenever the average daily balance exceeds $1,000, on days the balance is less than that amount no interest is charged. If you have at least $1,000 to deposit it is a good account to deposit your savings.
There is no minimum amount to open the account, and there are no account fees or overdraft fees. Money is deposited at Cross River Bank.
- ✔️ Interest: 4.81% APY.
- ✔️ No minimum opening amount.
- ✔️ No set-up fee and no monthly fee.
- ❌ Only pays interest on days balance is over $1,000.
- 🌐 Premier Savings Account
Bask Bank Interest Savings Account
Online savings account designed to grow your savings with a high interest rate of 4.85% APY.
Bask Bank is Texas Capital Bank's online bank specializing in savings products. Savers will earn a competitive return and will not be charged a monthly fee, regardless of account balance.
- ✔️ Interest: 4.85% APY.
- ✔️ No monthly fees.
- ✔️ No minimum account opening amount.
- ❌ Online banking only.
- ❌ Does not offer cards or ATM capabilities.
- 🌐 Bask Interest Savings Account
CIT Bank's Savings Connect Account at 4.60% APY.
CIT Bank offers great interest on its savings account, you can easily sign up online from a minimum amount of $100 to get 4.60% APY. Another advantage is that CIT Bank does not charge a monthly fee.
CIT Bank is an excellent choice for customers looking for savings accounts and CDs that pay above average returns.
- ✔️ Interest: 4.60% APY.
- ✔️ Easy account opening.
- ✔️ No set-up fee and no monthly fee.
- ❌ Minimum opening $100.
- 🌐 Saving Connect Account
Savings account with a
high yield of 4.65% APY, with no monthly service fee, that you can open from a minimum amount of $100.
360 Performance Savings Account from Capital One
Capital One account, which can be set up in as little as 5 minutes with no minimum amount and no monthly fees, offers an interest rate of 4.15% APY with no minimum amount. Users can set savings goals and automatic savings plans (with funds transferred from a Capital One 360 checking account) to make budgeting even easier.
- ✔️ Interest: 4.15% APY.
- ✔️ No monthly fees.
- ✔️ Ability to set up an automatic savings plan.
- ✔️ No minimum account opening amount.
- ❌ Does not include debit card.
- 🌐 Capital One Saving Account
Savings account with a
high yield of 4.65% APY, with no monthly service fee, that you can open from a minimum amount of $100.
Online savings account with a high yield of 4.15% APY and no commissions of any kind, no minimum balance required, and you can withdraw the money whenever you want.
Barclays Online Savings
Barclays also offers a good online savings account, can be contracted exclusively through the Internet and offers an interest rate of 4.15% APY.
The account has no minimum amounts or monthly fees, and offers tools to facilitate savings, with direct deposits and the usual online account operations.
Almost any saver can open this account as it has no minimum opening deposit requirement. The account also has no monthly service fee, so you can earn money through interest instead of losing money by paying fees.
How to choose a savings account
Savings accounts are a good tool to achieve your money saving goals, having the savings money in a different account and earning interest that helps the savings grow.
It is best to choose a savings account that offers a competitive annual percentage yield (APY) on your money. It may pay to choose one that doesn't have a monthly service fee or has a minimum balance requirement that you can meet to waive the fee.
We include all of that information in our list of the best savings accounts in 2023. Here are some tips to follow to find the best place to keep your savings:
- Determine what the money will be used for, it may just be for disposing of savings.
- Figure out when you will need to access the funds. Money to buy a car in the next year might be best kept in a savings account, for example.
- Shop around for interest rates. You'll want to research banks and credit unions and compare rates. Check for minimum balance requirements or monthly maintenance fees that could negatively affect you in the future. In general, rates are higher at online banks, but a traditional bank or credit union may offer competitive yields. To make that job easier, we've listed the best savings accounts here.
- Consider setting up a direct deposit to automatically add money each month or week to your savings.
Español: Cuentas de ahorro más rentables en EEUU