Best High-Yield Savings Accounts for Smart Savers
Discover the top high-yield savings accounts offering excellent interest rates and minimal fees. This guide helps you compare options like Barclays, CIT Bank, Goldman Sachs, and others to make informed savings decisions. Find accounts with competitive APYs, no minimum balances, and beneficial features. Stay updated on market fluctuations and choose accounts that fit your savings goals. Optimal for those seeking safe, profitable ways to grow their funds without high fees or restrictions.
Choosing the right savings account requires careful consideration of interest rates (APY), fee structures, and account features. It's essential to understand the difference between savings and checking accounts based on your financial goals. Minimum balance requirements should align with your savings capacity. Here are ten top banks offering competitive savings accounts with attractive rates and beneficial features.
PurePoint Financial – 1.40% APY with a $10,000 minimum deposit.
Synchrony – 1.50% APY; FDIC-insured accounts with no minimum balance or service fees.
Barclays – 1.50% APY, no minimum opening balance; earn a 2.5% bonus interest if no withdrawals for 6 months with a $1,000 deposit.
CIT Bank – 1.55% APY, requires a $100 deposit; interest compounds daily.
Goldman Sachs Bank – 1.50% APY, no minimum deposit; daily compounding and no fees.
Discover Bank – 1.20% APY, no minimum deposit or monthly fees; interest compounded daily with monthly payouts.
Live Oak Bank – 1.60% APY; no activity fee under $10 for 24 months; no minimum deposit or monthly fees.
Digital Federal Credit Union – Up to 5.12% APY on balances up to $1,000; higher balances may require exploring other options.
Dollar Saving Direct – 1.60% APY; no minimum deposit or monthly fees; rates subject to change.
Salem Five Direct – 1.50% APY; $100 minimum to open; minimum six transactions monthly, additional transactions charged at $10 each.
Interest rates can fluctuate due to market conditions. To maximize your savings, research current rates and account features thoroughly before making a decision for 2017 and 2018.
