High Yield Savings Accounts
The bank account and interest rate you choose will affect your financial future in a number of ways. This holds true both for CD's, money market, and savings and checking accounts.
As you compare options, consider the following details: bonuses and promotions, fees, interest rates, account features, safety and security, cross-product offerings, and brand recognition (among others that are important to you).
Whether you are moving your balance or starting with new funding, we have you covered with a clean and easy to understand comparison of some of the top banks in the US.
Axos High Yield Savings
Highlights: Interest compounded daily and no monthly fees
Highest APY Yield: 0.61%
- No monthly maintenance fees
- No minimum balance requirements
- $250 minimum opening deposit
- Free Incoming Wires
- Zero Minimum Balance Requirement
About Axos Bank
Since Axos Bank first opened for business on July 4, 2000, Axos Bank has been leading the way in digital banking. Today they’re a technology-driven financial services company that provides innovative banking products and services to customers nationwide.
Our Take
There's no shortage of high yield online savings accounts to choose from, but not all of them are worth the time. You only want to consider the best of the best, and that's where the Axos high yield savings account comes into play.
In addition to a 0.61% APY, interest is compounded daily and there are no monthly maintenance fees. Furthermore, with no monthly minimum balance requirement, you're free to do as you wish with your funds — without risking a fee.
The only thing you need to open an Axos high yield savings account is a $250 minimum deposit. With that, you'll have access to an account from a leading technology-driven financial services company.
Terms and Conditions
$250 minimum balance to open an account. Balances of $25,000 or more earn a lower tier rate than the first $25,000.
Availability
Available nationwide
CIT Bank Savings Builder
Highlights: Accelerate Your Savings
Highest APY Yield: 1.00%
- Earn up to 1.00% APY with a savings plan that fits your lifestyle.
- Two ways to accelerate your savings
- High Balance Savers: Maintain a balance of $25k or more to earn our highest interest rate.
- Monthly Savers: $100 minimum to open an account plus, $100 minimum single deposit per month to earn our highest interest rate.
About CIT Bank
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender).
Our Take
CIT Bank provides options for anyone looking to increase savings. It can be a struggle to come up with a minimum deposit for maximum benefit, so CIT offers a low $100 monthly deposit to take advantage of the highest rate.
This savings account is built on the idea that anyone can accelerate their savings with the right product and approach. Currently, you can earn up to 0.85% APY with one of these two savings products:
- High balance savers: maintain a minimum balance of $25k to earn the highest interest rate.
- Monthly savers: make a minimum deposit of $100 each month to earn the highest interest rate.
As you can see, CIT Bank makes it simple to open an account and earn a competitive interest rate.
Terms and Conditions
APY — Annual Percentage Yield is accurate as of June 16, 2022 Interest Rates for the Savings Builder Account are variable and may change at any time without prior notice.
Availability
Available nationwide
CIT Bank Savings Connect
Highlights: Grow your savings faster
Highest APY Yield: 4.65%
- Earn 20x the national average with a Savings Connect account.*
- Get a competitive rate on your Savings Connect account, plus you earn interest on the linked eChecking account.
- Digital Convenience with online banking and the mobile app.
- CIT Bank doesn't charge ATM fees and reimburses up to $30 in other U.S. bank's ATM fees on eChecking accounts.
- Deposit checks remotely and make transfers easily with the CIT Bank mobile app.
About CIT Bank
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender).
Our Take
Savings that's even more rewarding. Earn 4.65% APY*. With Savings Connect, you'll save even more with both a savings account and a linked interest-bearing eChecking account. Open the accounts quick and easily.
- Earn 20x the national average with a Savings Connect account.*
- Get a competitive rate on your Savings Connect account, plus you earn interest on the linked eChecking account.
- Digital convenience with online banking and the mobile app.
- CIT Bank doesn't charge ATM fees and reimburses up to $30 in other U.S. bank's ATM fees on eChecking accounts.
- Deposit checks remotely and make transfers easily with the CIT Bank mobile app.
Terms and Conditions
* APY — Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.
Availability
Available nationwideContact CIT Bank
Customer Service: 1 (855) 462-2652
Fraud, Disputes & Related Issues: 1 (855) 462-2652
Chime Savings Account
Highlights: Automatic savings features
Highest APY Yield: 2.00%
- 2.00% Annual Percentage Yield (APY)¹ — over 10X² the national average!
- No minimum or maximum balance requirements
- No fees³
- Automatic Savings features
- Signing up takes 2 minutes
About Stride Bank
Founded in 1913, Stride Bank is an Oklahoma-based financial institution that holds over $1.17 billion in assets. Offering a full range of financial services such as consumer and commercial banking, mortgage, wealth management, and treasury management, Stride Bank has also developed and currently manage highly specialized payment solutions for several national fintech companies.
Our Take
If simplicity is what you want, a Chime savings account is what you need. Highlighted by its automatic savings feature and a 2.00% APY yield, you have everything you need to take your savings to the next level.
Powered by Stride Bank, here are some of the features associated with a Chime savings account:
- Create an account in two minutes or less
- Simplified online account management
- No minimum or maximum balance requirements
- No fees
Let's put it this way: you can't understand the simplicity of a Chime savings account until you take a closer look.
Terms and Conditions
Banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card is issued by The Bancorp Bank or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. Please see back of your Card for its issuing bank. The Chime Visa® Credit Builder Card is issued by Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
While Chime doesn’t issue personal checkbooks to write checks, Chime Checkbook gives you the freedom to send checks to anyone, anytime, from anywhere. See your issuing bank’s Deposit Account Agreement for full Chime Checkbook details.
¹ APY—Annual Percentage Yield. Effective December 9, 2020 the interest rate will be 0.50%. These interest rates are variable and may change at our discretion at any time. No minimum balance required. Must have $0.01 in savings to earn interest.
² The average national savings account interest rate of 0.05% is determined by FDIC as of November 30th, 2020 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. visit https://www.fdic.gov/regulations/resources/rates/historical/2020-11-30.html to learn more.
³ There’s no fee for the Chime Savings Account but a $2.50 cash withdrawal fee is applied to the Chime Spending Account for out of network ATM withdrawals and over the counter "OTC" withdrawals. You must have a Chime Spending Account to open a Chime Savings Account.
Availability
Available nationwide
Quontic Bank High Yield Savings
Highest APY Yield: 4.50%
- Earn 4.50% APY with a Quontic High Yield Savings Account
- Start earning interest from Day 1 of your first deposit with no limit on how much you can earn.
- Open an account online in just 3 minutes
- Interest is compounded daily and credited to your account every month
About Quontic Bank
Quontic is the adaptive digital bank helping people grow their money with purpose. We’re changing the narrative of traditional banking – Quontic is innovative, digital-first, and customer-centric without sacrificing the personal touch.
Our Take
The Quontic Bank High Yield Savings is more than a standard savings account. It's packed full of features and benefits that make it an excellent choice among consumers from all walks of life.
With an industry-competitive 4.05% APY yield, a Quontic Bank High Yield Savings can help you reach all your savings goals sooner than expected. Other features include:
- Open an account in three minutes or less
- Start earning interest on day one, regardless of how much money you deposit
- Interest is compounded daily with earnings credited once per month
There aren't many bells and whistles associated with a Quontic Bank High Yield Savings. Instead, what you get is a high yield account that's simple to manage. And for many people, that's more than enough!
Terms and Conditions
Limit of 6 withdrawals per statement cycle APY means Annual Percentage Yield
Availability
Available nationwideContact Quontic Bank
Customer Service: 1-800-908-6600
We are adding more banks and updating rates daily, so check back often if you are waiting for the right deal.
Also, it's critical to only compare FDIC-insured banking institutions, of which there are more than 4,800 throughout the country.
