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Best Banks For Savings Account

Which banks offer the best savings accounts? Finding the right home for your money is critical to maximizing your savings. The best banks for savings accounts offer great customer service, stability and flexibility—in addition to competitive interest rates.

Keep reading to learn more about what elevates a bank to the top of the list.

Find the Bank with the Best Savings Account

bank with savings account

When researching the best banks for savings accounts, you surely want the best interest rate available—but what other factors are important? The best banks understand that their customers aren’t average and shouldn’t settle for an average savings account.

A few simple criteria separate top-rated banks from those that are simply average: 

Rate
Don’t settle for the first interest rate you find. Finding a competitive interest rate can help make every penny count. When shopping for interest rates, note that online banks typically offer higher interest rates than traditional brick and mortar banks.

Fees
Many of the best banks provide a savings account option without monthly service fees, which allows you to keep your deposit and any earned interest.

Service and maintenance fees will reduce any interest earned on your savings. You may want to avoid banks with services fees.

high yield savings accounts

ATM Access
The ability to access your money day or night, 365 days a year is important to many customers. The best banks for savings accounts provide a cash card and allow you to access your money at ATM locations nationwide. 

Protection
The best savings accounts offer protection for your deposit. Be sure to learn if the bank offers accounts that are FDIC-insured up to $250,000 per depositor, per insured bank, for each ownership category.

Extras
The best banks offer benefits to their customers such as flexible online banking, call center customer service and a perks program that provides great rewards.

Make sure to inquire with a prospective bank about these factors before you open an account. 

Saving Made Easy with Synchrony Bank

Opening a high yield savings account with Synchrony Bank is easy. We provide quick withdrawals online, over the phone, or with an ATM card*. In addition to our competitive rates+ and award-winning customer service, customers also find that we have no minimum balance or monthly service fee. Our accounts are FDIC-insured up to $250,000 per depositor for each ownership category.

Call Synchrony Bank at 1-844-345-5789 or find us online to learn how our high yield savings accounts could be the best way to manage your savings.

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Sources: 

FDIC: https://www.fdic.gov/deposit/deposits/

*Federal regulations limit the number of electronic and telephone transactions you can make with your High Yield Savings account to six transfers or withdrawals per monthly statement cycle. If you exceed these limits, we may close your account.

+National Average APYs are based on specific product types of top 50 U.S. banks (ranked by total deposits) provided by Informa Research Services, Inc. CD Rates: Average APYs are based on certificate of deposit accounts of $25,000. High Yield Savings Rates: Average APYs are based on High Yield Savings Accounts of $10,000. Money Market Account Rates: Average APYs are based on Money Market Accounts of $10,000. Although the information provided by Informa Research Services, Inc. has been obtained from the various institutions, accuracy cannot be guaranteed.


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