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How to Find the Best Savings Account

With so many financial products on the market, you may be wondering if a savings account is a good product for your money. But a savings account that offers a solid interest rate and low fees is an important part of your financial plan.

Keep reading to learn how to find the best savings account for your money.

Finding the Best Savings Accounts

digital savings account

Here are the features of today’s best savings accounts:

1. Competitive Interest Rates 

Savvy consumers have realized that online banks frequently offer more competitive interest rates on their savings products than traditional brick-and-mortar banks.

When shopping for the best interest rate, be sure to research high yield savings account options at online banks.

2. Low Fees

Service fees will diminish your hard-earned money. Choose a bank that doesn’t charge you fees for opening or maintaining their savings accounts, falling below a minimum balance or using ATMs. 

3. Easy Access to Accounts

Another important factor in choosing a bank for your savings account is easy accessibility of your funds and account information.

Don’t settle for a bank that limits you to weekday business hours at their brick-and-mortar locations. Many banks today offer their customers convenient, 24/7 access to check account balances, pay bills, make deposits and more — whether online, by phone or at ATMs.

easy access to savings account

4. Customer Satisfaction

There’s more to banking than just making deposits and withdrawals. A bank that wants to keep your business will be responsive to your needs, appreciative of your business and committed to resolving any disputes that may arise.

Look for a bank with good customer service reviews, both from industry analysts and consumers. And if they reward your loyalty with perks, even better! 

5. Safety and Security

Look for a bank with solid security for their online banking services and notice of FDIC (Federal Deposit Insurance Corporation) protection for your savings (typically up to $250,000 per depositor).

Get the Best Savings Account at Synchrony Bank

Synchrony Bank offers all of the best features for a savings account — and more! Our high yield savings account includes:

To get the best savings account today, call 1-844-345-5789 or open an account today.

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Sources:

FDIC: https://www.fdic.gov/

Make Use Of: http://www.makeuseof.com/tag/7-best-online-banking-features-simplifying-life/

US News: http://money.usnews.com/money/personal-finance/articles/2012/08/10/10-annoying-bank-feesand-how-to-avoid-them

+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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