Best Savings Account – Looking for the best safe, secure, and convenient savings accounts? If yes, this article is for you. In this article, we have compiled the best savings account you can make use of.
Meanwhile, there are hundreds of personal savings account service that offers you a secure, safe, and convenient way to save with the highest interest rates.
The workhorse of personal finance is identified as a place that allows you to deposit checks and also make transactions that include paying bills. A savings account is quite important when you set financial goals and you want to accomplish the goal.
Probably, you want to save money to purchase a nice car, a nice piece of jewelry, and others. Hence, if you’re looking for a savings account or upgrading your current bank account, read through this article till the end.
What to Consider When Choosing a Savings Account?
Before selecting a saving account, you need to get information about the account you’re opening. Also, you will need to consider the interest rate.
Most times, high-interest savings are set to offer a modest return. A certificate of deposit or CD might come with an appealing interest rate and the risk is small, but it must be insured federally.
This particular type of savings is the right one to go for in terms of reaching a savings goal. There are two categories of savings accounts. This includes the online-only kind which appears as a new bank but doesn’t have branches or retail presence.
Finally, does the online bank has a branch where you can visit and also a bank ATM? Based on the information from CNET.com, we have provided you with the best savings account that you can make use of this year.
Best Savings Account
After carefully done research, we have compiled the best saving account for you this year. Check out the list below;
1 High Yield Chime Savings Account – www.chime.com
In terms of the overall best online savings account, High Yield Chime saving account is considered top with an interest rate of 0.5% APY. Chime is an exclusive online financial institution that offers you the best personal savings tools.
Some of the benefits include no monthly fees and no minimum deposits. Others include an easy way to transfer your money in and out of your account.
2 Sallie Mae SmartyPig – www.salliemae.com
Looking for a personal account that includes a high-interest rate, Sallie Mae is popularly known for its high-interest rates and is also a student loan provider. It offers members powerful personal savings tools to set financial goals and achieve them.
Sallie Mae SmartyPig is available to all 50 states in the United States and it comes with no monthly fee, no minimum, and also an interest rate of up to 0.7% APY.
3 Citi Accelerate – www.citi.com
If you want to use a well know bank, Citi Accelerate is the best choice for in-person banking. Citi Accelerate is quite different from others based on it provides you with a competitive APY and also includes national chain benefits. One of the benefits includes access to over 60,000 Citi and also ATMs, and 24/7 customer service.
4 PNC – www.pnc.com
Another one in which you can go is PC, where you can open a PNC High Yield Savings Account. This offers you 0.4% APY, and also no monthly fee, or minimum deposit. Accessibility to PNC is only to 19 states that don’t have a retail location of PNC.
5 Citi Bank – www.citi.com
Another best savings account is Citi Bank. This bank is known for offering its customers multiple savings accounts. With Citi Bank, you can open an account for just $100. In addition, they offer comparative APY and they don’t charge a monthly service fee.
Also, they provide you the opportunity of building your account while using their Builder tool. You can conveniently manage and access your savings account from the comfort of your home without hassle. This is one of the best savings accounts you should consider trying out this year.
What is the Difference Between a Checking and a Savings Account?
Most people are usually confused with checking and savings accounts. You need to take note of the difference between a checking and a savings account.
The Checking Account is designed to help perform transactions and payments with payment with powerful transaction tools that includes debit card, mobile app, and more.
The difference is that a checking account doesn’t include an interest rate or provide a low rate of 0.1%. The savings account offers members a huge interest rate and operates as an online-only bank.
It also comes with a safe, secure, and convenient way to create your financial goal. With an account, you can enjoy the highest yields and other benefits as well.