- Last updated April 2024
Best Savings Accounts Of April 2024
Compare the best savings accounts
✓ Highest yield savings accounts
✓ No monthly fees or overdraft
✓ Access your accounts 24/7
What account do you want?
9.8
CIT Bank
Our #1 choice for savings accounts
Earn 4.65% APY
- Rate as of April 27, 2024
- No monthly account fees or transfer fees
- No ATM fees (Up to $30/mo)
Earn 16x the national average
Our #1 choice for savings accounts
Earn 4.65% APY
- Earn 16x the national average
9.7
Upgrade
Zero monthly fees & high APY
Earn 5.07% APY
- Get refunded for ATM fees
- No monthly fees
- FDIC insurance up to $250,000
9.4
Quontic
Voted #1 online bank by Forbes
Earn 4.50% APY
- Rate as of April 27, 2024
- 90,000+ free ATM locations
- No monthly fees or overdraft fees
8.7
Chime
Get $200 fee-free overdraft
Earn 2.00% APY
- 60,000+ free ATMs
- 24/7 live U.S-based support
- Receive your paycheck 2 days early
8.4
Aspiration
Environmentally friendly bank
Earn 3.00% APY
- 55,000+ free ATMs
- Up to 10% cashback on purchases
- Get paid up to 2 days early
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SmartScore
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Product Features
SmartWealthTrends uses our individual analysis on the various products and services we review to determine how helpful they are to potential new users.
Editorial Reviews
CIT Bank
Read review
Upgrade
Read review
Quontic
Read review
Aspiration
Read review
SoFi
Read review
Our Top Choice
Most Popular Savings Account
9.8
CIT Bank
Our #1 choice for savings accounts
Earn 4.65% APY
- Rate as of April 27, 2024
- No monthly account fees or transfer fees
- No ATM fees (Up to $30/mo)
Why Should You Open A Savings Account
A savings account is a great way to save for short-term goals or unexpected expenses. When you open a high-yield savings account, you can earn interest on your deposited funds. This interest can help you grow your savings more quickly than if you left your money in a checking account, which generally gives you much less interest.
Another benefit of a savings account is that it is FDIC-insured. This means that your deposited funds are protected up to $250,000 per depositor, per bank. So, if the bank where your account is held fails, your money will be refunded by the FDIC with no risk to you.
If you want a safe and easy way to grow your savings, then a savings account may be right for you.
Which Account Is Right For You?
Top 5 Benefits Of A Savings Account
- Earn More Interest: When it comes to saving money, a savings account is the best way to go. Not only do you get to earn more interest on your deposited funds, but you can also access your money quickly and easily if needed. In addition, many high-yield savings accounts come with no minimum balance requirements, so you can start saving today without having to worry about meeting any specific requirements.
- Avoid Market Fluctuations: Unlike other types of investments, such as stocks and bonds, savings accounts are not subject to market fluctuations. This means that your deposited funds are always 100% safe and sound, no matter what is happening in the economy.
- Easy Access To Funds: One of the most important things about savings accounts is that you can access your deposited funds quickly and easily. This is perfect for those times when you need cash fast, such as in an emergency situation.
- Low Minimum Account Opening: Unlike some other types of investment accounts, savings accounts usually have very low minimum account opening requirements. This makes them accessible to nearly everyone, regardless of how much money you have to deposit.
- Makes Saving Easier: A high-yield savings account makes saving money easier in a number of ways. First, the interest you earn can help your deposited funds to grow over time. Additionally, many high-yield savings accounts come with automatic savings features that make it easy to set aside money each month without having to think about it.
Top 3 Best Savings Accounts
CIT Bank is an excellent choice if you're looking for a dependable online-only bank. You won't be charged any monthly fees and the minimum opening balance is only $100, so it's easy to get started with CIT Bank. Also, their high-yield savings accounts earn interest on deposited funds immediately. In addition, customer service representatives are available 24/7 should you need assistance.
Pros
- Up to $30/mo refunded in ATM fees
- Low $100 minimum opening deposit
- 90,000+ ATM locations
Cons
- No physical locations
- Limited support
- No cash deposits
If you are looking for a high yield savings account, the Upgrade account could be the perfect choice. With an annual percentage yield this high, your money will grow faster than it would in a traditional savings account. In addition, the Upgrade account offers features that make it easy to manage your money and keep track of your progress.
The Upgrade account allows you to set up automatic deposits, which can help you stay on track with your savings goals. You can also use the account to pay bills and make other payments online. This makes it easy to keep your finances organized and streamlined. The Upgrade account also offers mobile banking, so you can access your account information from anywhere.
Pros
- No monthly fees
- High 5.07% APY
- No ATM fees
Cons
- No checking interest
- No physical locations
- Higher minimum deposit ($1,000+)
If you're looking for an online bank that offers a wide range of products and services, Quontic Bank is worth considering. In this review, we'll take a closer look at the products offered by this institution and see how they stack up against the competition. So whether you're in the market for a new bank or just want to compare rates, consider checking out Quontic Bank!
Pros
- High APY rates
- No monthly fees
- 90,000+ ATM locations
Cons
- No physical locations
- Limited support
- No cash deposits
