Savings Accounts Online Applications


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Top 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.


  • Earn 2.30% APY on all balance tiers
  • Minimum balance to earn APY is $1 24/7 online account access
  • No monthly maintenance fees
  • Apply online today
  • Move money quickly and access your funds using online transfers
  • Depositing checks is as simple as taking a picture with your mobile device using HSBC Mobile Banking




Monthly Fee:

$0 ($50 if minimum balance requirements are not maintained)

Minimum Balance to earn APY:


Minimum Deposit:

No minimum deposit required

Issuer's ATM Withdrawal Fee:


Related User Questions:

What are the fees on a savings account?
You may be charged a monthly maintenance fee when you have a savings account. However, most banks will waive this fee if you maintain the minimum balance required in the account. Money withdrawals can be expensive especially if you use an ATM...
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Is my savings account protected?
Yes. Banks insure your money through the Federal Deposit Insurance Corporation (FDIC). This means that even if the bank goes out of business, your money will be safe, and you will get them back. If you open a savings account in a credit union, your...
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Are there any bonuses for opening a savings account?
Some banks may offer you cash bonuses when you open a new savings account with them. To qualify for a bonus, you'll most likely have to set up direct deposit and keep the account open for a few months. Other banks may require you to deposit certain...
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Why 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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