Top 6 Savings Accounts Offering High Interest Rates and Minimal Fees
1. UFB Secure Savings
UFB Direct offers a Secure Savings account with an impressive 5.25% annual percentage yield (APY). You don’t need to maintain a minimum balance, and you can open the account without any initial deposit. There are no monthly fees, and you get an ATM card, unlimited transfers, and access to popular mobile banking tools.
2. Synchrony Bank High-Yield Savings
Synchrony Bank’s high-yield savings account provides a 4.75% APY. It has no minimum balance or opening deposit requirements. The account includes an optional ATM card with limited ATM fee reimbursements, no maintenance fees, and a user-friendly app with live support. However, it limits you to six convenient withdrawals per month, making it ideal if you don’t need frequent access to your savings.
3. CIT Bank Savings Direct
CIT Bank’s Savings Direct account offers a 4.65% APY and does not charge monthly fees. You need to deposit at least $100 to open the account, but there is no minimum balance requirement afterward to earn the top APY. While it doesn’t come with an ATM card, you benefit from unlimited withdrawals and 24/7 support.
4. Marcus Online Savings
Marcus offers an online savings account with a 4.40% APY. It features same-day bank transfers, savings tools, and multiple 24/7 support options. You can open the account without a minimum deposit, and there are no monthly maintenance fees or minimum balance requirements. The account allows unlimited monthly withdrawals but does not include an ATM card.
5. American Express High-Yield Savings
American Express provides a high-yield savings account with a 4.35% APY and no monthly fees. There is no minimum balance required, and you can open the account without an initial deposit. The account includes 24/7 support and automatic savings deposits. Although it doesn’t support ATM transactions, you can make up to nine online withdrawals each month.
6. Ally Bank Savings
Ally Bank’s savings account offers a 4.25% APY, the lowest on this list, but compensates with no monthly fees and unique money management tools. You can create savings buckets, track your balance growth, and automate your savings. The account also provides 24/7 support and has no minimum requirements for opening or earning interest. You are allowed 10 monthly withdrawals, though it does not come with an ATM card.