Best Savings Accounts for November 2024
The best savings accounts offer more than just competitive APYs.
A savings account is an interest-earning deposit account at banks, credit unions and other financial institutions, including online-only banks, designed to help you save for future expenses or financial goals.
A savings account typically allows unrestricted access to your money, allowing you to add or withdraw cash as needed. A savings account is ideal for an emergency fund that can cover unexpected expenses such as an accident or job loss. Savings accounts at federally insured financial institutions are covered in the case of loss for up to $250,000 per person, per institution, making them a safe and low-risk place to park your cash.
- Ally Bank 4.00% APY, $0 Min. deposit to open, No Branch access
- EverBank 5.05% APY, $0 Min. deposit to open, No Branch access
- Capital One Bank 4.00% APY, $0 Min. deposit to open, Yes Branch access
- TAB Bank 4.52% APY, $0 Min. deposit to open, No Branch access
- Newtek Bank 5.25% APY, $0 Min. deposit to open, No Branch access
- Discover 4.00% APY, $0 Min. deposit to open, No Branch access
- Laurel Road 4.50% APY, $0 Min. deposit to open, No Branch access
- Synchrony Bank 4.30% APY, $0 Min. deposit to open, No Branch access
- Varo Bank 3.00% - 5.00% APY, $0 Min. deposit to open, No Branch access
- Bask Bank 4.85% APY, $0 Min. deposit to open, No Branch access
- LendingClub 4.00% to 5.00% APY , $0 Min. deposit to open, No Branch access
- BMO Alto 4.60% APY, $0 Min. deposit to open, No Branch access
- Marcus by Goldman Sachs 4.10% APY, $0 Min. deposit to open, No Branch access
A deposit account issued by banks, credit unions and neobanks used to store money and earn a small amount of interest. Typically, these accounts are insured for up to $250,000 per account owner, per institution.
An interest-bearing account similar to a traditional savings account that pays a much higher annual percentage yield, or APY, than the average savings account. They are also typically insured for up to $250,000 per account owner, per institution.
A type of savings account in which a lump-sum deposit accrues interest at a fixed rate for a fixed term, usually with an early withdrawal penalty.
Similar to a savings account but with the added feature of check-writing privileges and a debit card to access cash, often with limitations on the number of monthly withdrawals.
An interest rate that represents the return from the compounded interest you’ll earn in 12 months on your deposit. The higher the APY, the faster your money grows.
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