✓ Highest yield savings accounts
✓ No monthly fees or overdraft
✓ Access your accounts 24/7
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.
SoFi is an online personal finance company that provides a variety of financial products to consumers, such as student and auto loan refinancing, mortgages, personal loans, credit cards, investing, and banking services. Their offerings include competitive interest rates, user-friendly digital platforms, and a range of investment options to help individuals achieve their financial goals.
Synchrony provides competitive rates on its online savings account and certificates of deposit with no monthly fees. The online-only bank specializes in savings accounts and does not offer checking accounts or budgeting tools. They also offer a money market account with more withdrawal options like check writing but at a lower rate than a regular savings account.