Best bank to open a savings account with

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• Why we chose it

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  Citizens offers a competitive yield on its savings account, and it doesn’t charge a monthly fee.

• What to watch for

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  At the moment, all balances earn the same yield at Citizens. But the bank does have a balance tier of under $5,000 and a balance tier for people with more than $5,000 in their account.

CIT Bank - 3.60% APY, no minimum balance needed for APY

Rating: 4.6 stars out of 5

Overview

CIT Bank’s Savings Connect account can be opened with just $100. The bank offers a competitive APY and doesn’t charge a monthly service fee for this account. It also has a Savings Builder account, a checking account, a money market account and CDs.

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• Why we chose it

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  CIT Bank offers a competitive yield. And like many online banks, it doesn’t have a monthly service fee.

• What to watch for

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  You’ll need at least $100 to open your CIT Bank Savings Connect account.

Bread Savings - 3.50% APY, $100 minimum to open account (no ATM access)

Rating: 4.1 stars out of 5

Overview

Bread Savings is an online bank that offers a high-yield savings account and five terms of CDs. Bread Savings requires at least $100 to open this account. 

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• Why we chose it

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  Bread Savings pays very competitive yields on its savings account. With just $100 needed to open an account and no monthly maintenance fees, savers of all types may find it to be an appealing option.

• What to watch for

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  A paper statement will cost you $5 per request at Bread Savings. The bank also charges $25 to send a wire transfer.

Popular Direct - 3.35% APY, $5,000 minimum balance to earn APY (no ATM access)

Rating: 3.4 stars out of 5

Overview

A Popular Direct High-Rise Savings account is opened through Popular Bank. You’ll need to deposit at least $5,000 to open the account, but there’s no monthly maintenance fee.  Popular Direct also offers mobile deposit. 

Invest Rate

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• Why we chose it

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  Popular Direct’s High-Rise Savings account pays a competitive yield and it doesn’t have a monthly maintenance fee.

• What to watch for

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  This account requires a minimum opening deposit of $5,000, so it isn’t for all savers. There’s also a $5 fee for withdrawals or transfers that exceed six during a monthly statement cycle. And there’s a fee if you close your savings account during the first 180 days. 

Citibank - 3.25% APY, $1 minimum for APY (ATM access)

Rating: 4.3 stars out of 5

Overview

Citibank’s high-yield savings account pays well above the national average as well as higher than many of the savings rates offered by some of the nation’s largest banks. There’s no minimum balance requirement to earn the APY and no minimum to open an account. But the APY is only available in select markets.

Invest Rate

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• Why we chose it

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  For consumers who live in an eligible location, the Citi High-Yield Savings account offers a competitive yield and it doesn’t require a minimum deposit.

• What to watch for

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  Make sure you’re going to open a Citi checking account or have at least a monthly average of $500 in your Citi High-Yield Savings account. Otherwise, you’ll pay a $4.50 monthly service fee.

Synchrony Bank - 3.25% APY, no minimum balance needed for APY (ATM access)

Rating: 4.3 stars out of 5

Overview

Synchrony Bank’s High Yield Savings account earns a competitive yield, and it has ATM access. There are no monthly fees, no minimum deposit to open, and no minimum balance required.

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• Why we chose it

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  The Synchrony Bank High Yield Savings account not only earns a competitive yield but it also comes with ATM access and the bank refunds $5 worth of ATM fees made domestically each month.

• What to watch for

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  You’ll need to make your initial deposit within 60 days of account opening – otherwise your account could be closed.

Ally Bank - 3.00% APY, no minimum balance needed for APY and a free checking account (no ATM access)

Rating: 5 stars out of 5

Overview

Ally Bank’s Online Savings Account has a competitive APY, doesn’t require an opening deposit, and there are no monthly service fees. Ally Bank also has 24/7 live customer care available.

Invest Rate

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• Why we chose it

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  Ally Bank offers a competitive yield on its savings account. It can be opened without a minimum balance, and there are no monthly fees. The bank offers a number of helpful tools to assist savers in maximizing their money.

• What to watch for

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  Like many online banks, you won’t be able to deposit cash into this account. You can only make six withdrawals from your Ally savings account per monthly statement cycle, although Ally is no longer charging excessive transaction fees.

American Express National Bank - 3.00% APY, no minimum balance needed for APY (no ATM access)

Rating: 4.8 stars out of 5

Overview

American Express is best known for its credit cards. But it also offers a competitive savings account. The account also has no fees and lets you link your external bank account. The company also offers a variety of CDs.

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• Why we chose it

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  The online high-yield savings account from American Express provides a competitive rate. It doesn't charge any monthly fees, and it doesn't require a minimum balance. The ability to link current bank accounts offers an easy solution if you have outside accounts that you'd like to view on one platform.

• What to watch for

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  Only some customers, who have an American Express credit card and an American Express savings account, are able to see their savings accounts in the Amex app. This access is currently being tested by the bank and might be more widely available in the future.

Barclays Bank - 3.00% APY, $0.01 minimum balance needed for APY (no ATM access)

Rating: 3.9 stars out of 5

Overview

Currently, you’ll earn a competitive yield with the Barclays Online Savings Account. You don’t need to make a minimum opening deposit, and it doesn’t charge a monthly service fee. Products from Barclays are only available online in the U.S.

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• Why we chose it

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  The Barclays Online Savings Account offers a competitive yield on its savings account. Nearly any saver can open this account since it doesn’t have a minimum opening deposit requirement. The account also doesn’t have a monthly service fee, so you can earn money through interest instead of losing money by paying fees.

• What to watch for

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  Barclays doesn’t offer a checking account or belong to an ATM network, and it has no branches.

Capital One - 3.00% APY, no minimum balance needed for APY (no ATM access)

Rating: 4.9 stars out of 5

Overview

The Capital One 360 Performance Savings Account earns a competitive yield. It doesn’t have a monthly service fee and you won’t need a minimum deposit to open this account.

Invest Rate

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• Why we chose it

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  This savings account comes with a competitive yield and it doesn’t have a monthly service fee. Nearly any saver can open the account since it doesn’t have an opening deposit requirement. Customers can also set savings goals and establish automatic savings plans.

• What to watch for

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  There’s no ATM card available for this savings account.

Discover Bank - 3.00% APY, no minimum balance needed for APY (no ATM access)

Rating: 4.8 stars out of 5

Overview

Discover is best known for its credit cards, but it also offers a savings account, money market account, checking account and CDs. The Discover Bank Online Savings Account doesn’t have a minimum deposit requirement. And it doesn’t have a monthly service fee. 

Invest Rate

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• Why we chose it

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  Discover Bank’s Online Savings account pays a competitive yield and doesn’t have a minimum opening deposit requirement. The account is also through a known brand.

• What to watch for

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   Discover Bank doesn’t have ATM access for its Online Savings Account.

Marcus by Goldman Sachs - 3.00% APY, no minimum balance to earn APY (no ATM access)

Rating: 4.2 stars out of 5

Overview

The high-yield savings account from Marcus requires no minimum deposit to open and no minimum to earn the competitive APY. There are no monthly fees and the account opening process is easy.

Invest Rate

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• Why we chose it

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  Marcus by Goldman Sachs consistently offers a competitive yield and it doesn’t have a minimum deposit requirement. This combination makes it a good option for any saver to consider. 

• What to watch for

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  You’ll need to mail in your checks to deposit them at Marcus by Goldman Sachs as mobile check deposits are not available. There's also no checking account option at Marcus, limiting your liquidity options, and no branches to visit.

  Which bank is best to open savings account?

  1) State Bank of India (SBI) Savings Account SBI has a rich history dating back more than 200 years, making it the bank that Indians have had the most faith in and thus, making it the best bank for Savings Account in India. The following are some features of this SBI savings account: SBI Quick facility.

  Which bank account is best for savings 2022?

  10 Best Banks for Savings Accounts in 2022.

  Kotak 811 Edge Digital Savings Account. ... .

  Axis ASAP Savings Account. ... .

  Digibank by DBS. ... .

  SBI Insta Plus Savings Account. ... .

  ICICI Regular Savings Account. ... .

  HDFC Regular Savings Account. ... .

  Indus Delite Savings Account. ... .

  RBL Digital Savings Account..

  Which bank is the best in Singapore?

  Top 5 Banks in Singapore in 2022.

  Development Bank Of Singapore (DBS).

  Overseas-Chinese Banking Corporation (OCBC).

  United Overseas Bank (UOB).

  Standard Chartered..

  Citibank..

  Which bank has highest savings interest rate?

  The only bank now paying the highest interest rate of 7.50% on savings bank deposits of more than ₹25 crore is Ujjivan Small Finance Bank. The Ujjivan Small Finance Bank's interest rates for Domestic and Non-Resident Accounts are listed below, effective as of November 1, 2022.