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December 2022: Best Savings Accounts from Our Partners

A savings account is a type of bank accounts that allows you to keep your money in a safe place while it earns a small amount of interest. Money in a savings account is safe from risk of losing it, FDIC-insured, and protected from inflation. You may want to open a savings account if you tend keeping money that you don't plan to spend now. It actually helps you to save money as you are not tempted to spend more. Whether your goal is to set an emergency fund, keep money safe, or build up money for future plans, you can do it by opening a savings account.

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our choice

APY
2.00% Annual Percentage Yield (APY)4— 11x5 the national average!
Monthly Fee
No
Minimum Balance to earn APY
No minimum balance requirements
Minimum Deposit
No
  • No Monthly Fees
  • Set up Direct Deposit and receive your paycheck up to 2 days earlier^ than some of your co-workers!
  • Grow your savings automatically
  • Signing up takes 2 minutes!
  • Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
  • ^Early access to direct deposit funds depends on payer.
  • 4The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of October 25, 2022. No minimum balance required. Must have $0.01 in savings to earn interest.
  • 5The average national savings account interest rate of 0.21% is determined by FDIC as of November 7, 2022 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit National Rates and Rate Caps to learn more.

our choice

APY
4.50%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • Federally insured by NCUA.
  • Start saving with as little as $1 minimum deposit.
  • 24/7 online access.
  • 4.50% APY certificate, 4.9X6 higher than national average.

our choice

APY
4.70%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 4.70% APY 15 month share certificate, 5.2x higher than national average.6 higher than national average.
  • Federally insured by NCUA. No fees. $1 minimum to open.
  • 24/7 online access to funds.

our choice

APY
4.65%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 4.65% APY 24 month certificate, 4.0X6 higher than national average.
  • Federally insured by NCUA. No fees. $1 minimum to open.
  • 24/7 online access to funds.

our choice

APY
3.00%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • Federally insured by NCUA.
  • Start saving with as little as $1 minimum deposit.
  • 24/7 online access.
  • 3.00% APY certificate, 2.6X6 higher than national average.

our choice

APY
3.85%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.85% APY 18 month certificate, 3.3X6 higher than national average.
  • Federally insured by NCUA. No fees. $1 minimum to open.
  • 24/7 online access to funds.

our choice

APY
4.05%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 4.05% APY no-penalty CD, 4.5X6 higher than national average.
  • FDIC insured. No fees. $1 minimum deposit.
  • Putting educational and financial success within reach for more than 50 years.
Apply for GO2bank - Credit-Land.com

Rating 4.5

APPLY

our choice

APY
See terms
Monthly Fee
No monthly fees with eligible direct deposit, otherwise $5 per month
Minimum Balance to earn APY
See terms
Minimum Deposit
See terms
  • Overdraft protection up to $200 with opt-in and eligible direct deposit2
  • No monthly fees with eligible direct deposit, otherwise $5 per month
  • Earn up to 7% cash back when you buy eGift Cards in the app

our choice

APY
3.65%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.65% APY Money Market Deposit Account, 15.2X6 higher than national average.
  • Federally insured by NCUA. No fees. $1 minimum to open.
  • 24/7 online access to funds.

our choice

APY
4.50%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 4.50% APY 12 month certificate, 4.9X6 higher than national average.
  • Federally insured by NCUA. No fees. $1 minimum to open.
  • 24/7 online access to funds.

our choice

APY
3.10%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.10% APY high-yield CD, 3.4X6 higher than national average.
  • Deposits are FDIC insured through Liberty Savings Bank.
  • No fees. $1 minimum deposit.
  • 24/7 online access to funds.

our choice

APY
4.20%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • Federally insured by NCUA.
  • Start saving with as little as $1 minimum deposit.
  • 24/7 online access.
  • 4.20% APY certificate, 4.6X6 higher than national average.

our choice

APY
3.70%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.70% APY Money Market Deposit Account, 12.8X6 times the national average.
  • No fees. $1 minimum deposit. 24/7 online access to funds.
  • Lemmata gives back through charitable donations when you save.
  • Deposits are FDIC insured through California Bank of Commerce.

our choice

APY
2.75%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 2.75% APY* high-yield CD, 3.1X6 higher than national average.
  • FDIC insured. No fees.
  • Financial solutions to help you do more of what you love.

our choice

APY
2.60%
Monthly Fee
No
Minimum Balance to earn APY
0.01%
Minimum Deposit
$1
  • 2.60% APY 7 month high-yield CD, 5.0X6 higher than national average.
  • FDIC insured. No fees. $1 minimum deposit.
  • 24/7 online access to funds.

our choice

APY
3.65%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.65% APY* high-yield MMDA, 12.6X6 higher than national average.
  • FDIC insured. No fees.
  • Financial solutions to help you do more of what you love.

our choice

APY
4.00%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 4.00% APY no-penalty CD, 4.4X6 higher than national average.
  • FDIC insured. No fees. $1 minimum deposit.
  • Putting educational and financial success within reach for more than 50 years.

our choice

APY
3.25%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • Federally insured by NCUA.
  • Start saving with as little as $1 minimum deposit.
  • 24/7 online access.
  • 3.25% APY high-yield MMDA, 13.5X6 higher than national average.

our choice

APY
3.60%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.60% APY high-yield savings account, 15.0X6 higher than national average.
  • FDIC insured. No fees.
  • Locally-owned independent community bank.

our choice

APY
3.85%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.85% APY high-yield MMDA, 13.3x higher than national average.
  • Deposits are FDIC insured through Liberty Savings Bank.
  • No fees. $1 minimum deposit.
  • 24/7 online access to funds.

our choice

APY
2.90%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 2.90% APY high-yield CD, 3.2X6 higher than national average.
  • Deposits are FDIC insured through Liberty Savings Bank.
  • No fees. $1 minimum deposit.
  • 24/7 online access to funds.

our choice

APY
Up to 2.20%
Monthly Fee
$0
Minimum Balance to earn APY
$500
Minimum Deposit
$500
  • Open an account online in just 3 minutes
  • Minimum of $500 required to open.

our choice

APY
3.85%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.85% APY* high-yield savings account, 16.0x higher than national average.
  • FDIC insured. No fees.
  • A history of serving communities across America.

our choice

APY
1.21%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 1.21% APY high-yield CD, 1.3X6 higher than national average.
  • FDIC insured. No fees.
  • Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.

our choice

APY
3.00%
Monthly Fee
$0
Minimum Balance to earn APY
$1
Minimum Deposit
$100
  • Earn 3.00% APY with a Quontic High Yield Savings Account
  • Start earning interest from Day 1 of your first deposit with no limit on how much you can earn.
  • Open an account online in just 3 minutes
  • Interest is compounded daily and credited to your account every month

our choice

APY
1.31%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 1.31% APY high-yield CD, 1.5X6 higher than national average.
  • FDIC insured. No fees.
  • Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.

our choice

APY
2.50%
Monthly Fee
$0
Minimum Balance to earn APY
$1
Minimum Deposit
$100
  • Earn 2.50% Annual Percentage Yield with a Quontic Money Market Account
  • No Monthly Maintenance or Overdraft Fees
  • $100 minimum deposit required to open an account

our choice

APY
2.00%
Monthly Fee
No
Minimum Balance to earn APY
See Terms
Minimum Deposit
$1,000
  • Minimum $1,000 deposit
  • FDIC insured up to $250,000
  • Security and Flexibilty
  • No Penalty for early withdraw
  • Daily compounding interest
  • No monthly maintenance fees

our choice

APY
3.50%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.50% APY high-yield CD, 3.9X6 higher than national average.
  • FDIC insured. No fees.
  • Locally-owned independent community bank.

our choice

APY
3.25%
Monthly Fee
$0
Minimum Balance to earn APY
See terms
Minimum Deposit
$100
  • Boosting your savings. Earn 3.25% APY7
  • Earn over 12x the national average with a Savings Connect account6
  • Minimum deposit of $100 in both Savings and eChecking accounts to open
  • Flat Rate
  • No account opening or maintenance fees
  • Free online banking with Bill Pay, Zelle, Samsung Pay and Apple Pay
  • Use any U.S. ATM to access funds. No CIT fees on ATM transactions and up to $30 per month reimbursement to offset other bank’s charges
  • Daily compounding interest

our choice

APY
4.50%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 4.50% APY high-yield CD, 45.0x higher than national average.
  • FDIC insured. No fees.
  • Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.

our choice

APY
3.00%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.00% high-yield CD, 5.8X6 higher than national average.
  • FDIC insured. No fees.
  • Locally-owned independent community bank.

our choice

APY
Up to 0.61%
Monthly Fee
No
Minimum Balance to earn APY
No
Minimum Deposit
$250 minimum balance to open an account
  • Earn 0.61% APY
  • Suite of digital money management tools
  • No maintenance fees
  • No monthly minimum balance requirements
  • $250 minimum balance to open an account

our choice

APY
0.40%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
No minimum deposit to open account
  • Earn 0.40%* APY.
  • Balance must be at least $0.01 to earn APY.
  • No minimum deposit to open account.
  • Start saving in minutes.
  • No fees. Ever.
  • FDIC insured for up to $5 million.

our choice

APY
3.00%
Monthly Fee
No
Minimum Balance to earn APY
$0.01
Minimum Deposit
$1
  • 3.00% high-yield CD, 9.4X6 higher than national average.
  • FDIC insured. No fees.
  • Locally-owned independent community bank.

our choice

APY
1.30%
Monthly Fee
No
Minimum Balance to earn APY
No minimum monthly balance
Minimum Deposit
$100
  • Minimum deposit of $100 to open
  • No account opening or maintenance fees
  • Daily compounding interest
  • Free online banking with Bill Pay
  • FDIC insured

our choice

APY
Earn up to 0.80% APY
Monthly Fee
See terms
Minimum Balance to earn APY
$25,000
Minimum Deposit
$100
  • Minimum deposit of $100 to open
  • Multi-tiered account.
  • Monthly $100 deposit requirement or $25K min balance for highest APY
  • No account opening or maintenance fees
  • Daily compounding interest
  • FDIC insured

our choice

APY
See terms
Monthly Fee
No
Minimum Balance to earn APY
See terms
Minimum Deposit
$1,000
  • Competitive rates
  • Terms up to 5 years
  • Low minimum opening deposit
  • Daily compounding interest
  • No monthly maintenance fees
  • FDIC insured
Apply for Online Savings - Credit-Land.com

Rating 4.5

APPLY

This offer is only available in AZ, CA, CO, FL, GA, KS, MD, MO, NC, NM, OK, OR, SC, TN, TX, VA, WA, WV, WI.

our choice

APY
Earn 0.03% APY
Monthly Fee
No
Minimum Balance to earn APY
No
Minimum Deposit
$50
  • No monthly fees
  • No minimum balance
  • Open with as little as $50
  • Interest is compounded daily
  • 2 Free withdrawals or transfers per month. $3 for each thereafter.
  • You can link your Online Savings to your First Citizens checking account for overdraft protection (a $12 transfer fee applies if you link your savings to your checking account and overdraft)
  • Free digital banking with mobile app so you can monitor your account
  • No-fee channel access: You can access your account digitally, but also at branch or ATM at no charge.
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questionsABOUT
SAVINGS ACCOUNTS

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NOT SURE WHICH CARD
TO CHOOSE?

Ask our Experts and get free advice to your email!

ASK QUESTION

should you OPEN A
SAVINGS ACCOUNT?

Having a savings account as a part of your finances helps to build up funds to cover as planned as unexpected expenses in the future. It will give you financial stability, plus you will earn some interest on your deposit.

1. A savings account is a bank account where you can store your money and earn interest on it. This type of bank accounts is insured by the FDIC. That means you won't lose your money if your bank fails.

2. Savings accounts are inexpensive and easy to use. You will need a small amount, around 25 dollars, to open an account. Some banks do not require any opening deposit. As for the fees, you can avoid most of them as long as you're avoiding withdrawals from your savings account. Monthly fees are often waived if a minimum balance is maintained.

3. Many savings accounts come with interest rates (APY) that will help you to accumulate a little more cash over time. The average interest rate on savings accounts is 0.09% APY. However, many banks offer savings accounts with rates well above that average - up to 2.00% APY. Online institutions tend to offer higher interest rates than brick-and-mortar banks. So, it is worth shopping around for the best deals when you are after a savings account.

Checking Account vs. Savings Account

You may already have a checking account and may think that having a savings account is unnecessary. However, you can actually benefit from having both types of accounts.

Checking accounts are convenient for everyday spending, bill payments, and direct deposits, but they are terrible places to save. First of all, you have unlimited access to your money and can spend them quickly. Secondly, money in a checking account rarely earn interest. And to top it all, checking accounts are ripe targets for thieves.

Savings accounts are good for long-term investment. They are not good for everyday transactions as there is a limit to how many transactions you can perform a month and the transactions themselves can be costly. Consider savings account as an investment in your financial stability or as an emergency fund. Plus, if you are expecting a big-ticket purchase in the future, it will be easier to save money using a savings account, than a checking account. Another good feature of savings accounts is APY. You are actually paid interest on the money you have in your savings account.

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commentsABOUT
SAVINGS ACCOUNTS🜂

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