Saving money is a crucial part of personal finance. Whether you are saving for a down payment on a house, an emergency fund, or a vacation, it is essential to find the best savings account that meets your needs. High-interest savings accounts are an excellent option for individuals who want to earn interest on their savings. In this article, we will discuss the best high-interest savings accounts available in 2023.
1.Ally Bank High Yield Savings Account
Ally Bank is one of the most popular online banks in the United States. The Ally Bank High Yield Savings Account offers a competitive interest rate of 0.50% APY, with no minimum deposit required to open an account. Additionally, there are no monthly maintenance fees, and you can access your money anytime with no penalties. Ally Bank also offers 24/7 customer service and a mobile app that makes banking easy.
2.Marcus by Goldman Sachs High Yield Online Savings Account
Marcus by Goldman Sachs is another popular online bank that offers a high yield savings account. The Marcus by Goldman Sachs High Yield Online Savings Account offers a 0.50% APY with no minimum deposit required. There are also no transaction fees, no monthly maintenance fees, and you can access your money anytime. Marcus by Goldman Sachs also offers a mobile app for easy banking.
3.Discover Online Savings Account
Discover is a well-known credit card company that also offers a high yield online savings account. The Discover Online Savings Account offers a competitive 0.45% APY with no minimum deposit required. There are also no monthly maintenance fees, no transaction fees, and you can access your money anytime. Discover also offers a mobile app that makes banking easy.
4.CIT Bank Savings Builder
CIT Bank is an online bank that offers a unique savings account called the Savings Builder. The Savings Builder offers a 0.45% APY with no monthly maintenance fees. However, to earn the high interest rate, you must maintain a minimum balance of $25,000 or make a monthly deposit of $100. If you can meet these requirements, the CIT Bank Savings Builder is an excellent option for a high-yield savings account.
5.Synchrony Bank High Yield Savings Account
Synchrony Bank is an online bank that offers a high yield savings account with a 0.50% APY. There is no minimum deposit required, no monthly maintenance fees, and you can access your money anytime. Synchrony Bank also offers a mobile app for easy banking.