Nowadays, a little can go a long way. That’s why it’s important to put your savings to good use to grow over the long term. An easy and risk-free way to grow your money is to put it in a high-yield savings account. These accounts earn a higher interest rate than regular savings accounts, allowing your money to grow over time. Whether you’re saving for emergencies, a big purchase, or just slowly building wealth, choosing the right account can make a big difference. Below is a list of the five best high-yield savings accounts you can open to earn the highest returns.
UFB Direct High Yield Savings Account
When it comes to high-yield savings accounts, UFB Direct has some of the best rates on the market. It’s a great option for anyone looking to save and grow their money without worrying about fees or minimum deposits. With this account, you’ll also have access to online banking, mobile check deposit, and 24/7 customer service. If you are looking for an easy-to-use account with a high annual percentage yield (APY), this is the right choice. UFB Direct has always been one of the best ways to save money online.
Marcus by Goldman Sachs Online Offers
Marcus by Goldman Sachs is a well-known and trusted name in online banking, offering high-yield savings accounts with a high annual percentage yield. Marcus is ideal for both novice savers and experienced investors, as it has no fees and no minimum account opening amount. It offers easy-to-use online and mobile banking options, and customer service is always at your fingertips. Marcus is known for its reliability and openness, making it a great choice for those looking to save money easily.
Ally Bank Online Savings Account
Ally Bank’s high-interest savings account is also one of the best on the market. In addition to its extremely low interest rates, it has no fixed fees and no minimum account opening requirement. Ally’s website is easy to use and its mobile app is one of the best in the banking industry. One of the great things about this account is that users can set and track multiple savings goals by creating “savings pots.” Ally’s customer service is also excellent, which makes it even more appealing.
Learn more about online savings accounts
The Discover Online Savings Account offers a high annual percentage yield (APY) and no monthly fees or minimum deposit requirements. This account is ideal for savers looking for a trusted brand, high yields, and a secure internet connection. The bank is known for its excellent customer service and strong fraud protection. Discover savings accounts are easy to use and offer only the tools you need, without the extra features. Many people like to put their savings in this account because of the familiar brand name and its track record of reliability.
Get a high-yield savings account from American Express®
American Express is not only a leading credit card company, its high-yield savings accounts are also highly rated. This account is ideal for those who like simplicity and convenience. It has a high annual percentage yield (APY), no fees, and no minimum deposit requirement. There is no cash account or debit card, but the online and mobile tools make it easy to keep track of your savings online. For those who value interest rates and financial security, American Express is a good choice.
Overall
A high-interest savings account is a great way to grow your money with less hassle and risk. Many types of savers can take advantage of these accounts because they offer reasonable interest rates, low or no fees, and are easy to access online. When choosing the best savings account, consider the annual percentage yield (APY), fees, ease of entry, and the name of the bank. Whether you are just starting to save or want to make the most of the money you already have, these five options can help you reach your financial goals faster.
