The best high-interest savings account for you will be determined by more than simply the bank that gives the highest rate. But we'll get to the other stuff later. For now, take a quick look at our top picks for high-interest savings: Wealthfront Cash Account: Annual percentage yield of up to 5.00%. Milli Bank Savings Account offers up to 4.75% APY, while Varo Savings Account provides up to 5.00%. The Digital Federal Credit Union Primary Savings Account has an annual percentage yield of up to 6.17%. UFB High Yield Savings Account has an annual percentage rate of 5.25%. A Centier Bank Connect Savings Account can earn up to 5.00%. A Western Alliance Bank savings account has an interest rate of 5.36%. The Accelerated Savings Account at Blue Federal Credit Union has an APY of up to 5.00%. CIT Bank Platinum Savings Account offers up to a 5.00% APY. Bread Savings High-Yield Savings Account (5.15% APY)
Wealthfront Cash Account Wealthfront is a financial services company that provides robot-advised investing and cash savings accounts. At the moment, it gives money kept in a cash account a 5.00% APY. For numerous savers, Wealthfront can be a great option. It offers free same-day withdrawals, has no minimum balance requirements, and doesn't charge account fees. You can also connect your cash account to services like Apple Pay and Venmo. Despite the fact that it is not technically a checking account, this allows you to spend money at a variety of retailers. Wealthfront may be best suited for folks having a lot of money to save. It provides up to $8 million in FDIC coverage through its network of partner banks. This is much higher than the normal $250,000 FDIC insurance provided by most competitors. As a result, you can keep more of your money in a single account with less stress. Milli Bank Savings Account If you like to bank on your mobile device, Milli may be a good option for you. It is a mobile-only company that currently has one of the highest APYs on the market, at 4.75%. Milli's app contains a feature called "Jars." Jars are personalized savings goals to which you can contribute independently. This enables you to pursue many goals simultaneously without merging your funds. For example, you may save for a new car while also building an emergency fund in separate jars. However, user evaluations of Milli's mobile app are generally negative. Users have complained about excessive wait periods for transfers from other accounts, as well as onerous account funding criteria. However, if you simply want to deposit money into an account and save it while earning a high APY, Milli may be the correct pick. Varo Savings Account A Varo savings account, which is consistently ranked among the best accounts for high APYs, can help you achieve your goals more quickly. To save more money faster, use Varo's "Save Your Pay" and "Save Your Change" functions, which transfer a percentage of your income and a roundup of transactions to your account. Wealthfront Cash Account Wealthfront is a financial services company that provides robot-advised investing and cash savings accounts. It presently offers a 5.00% APY on funds held in a cash account.
Wealthfront can be an excellent choice for a variety of savers. It offers free same-day withdrawals, has no minimum balance requirements, and doesn't charge account fees. Additionally, you can link your cash account to third-party services like Venmo and Apple Pay. It isn't quite a checking account, but it nevertheless lets you maIt provides free same-day withdrawals, has no minimum balance requirement, and does not impose account fees. Additionally, you can link your cash account to third-party services like Venmo and Apple Pay. It is not a checking account, but it does allow you to make purchases from a number of stores. Make purchases at a variety of shops. Wealthfront may be best suited for folks having a lot of money to save. It provides up to $8 million in FDIC coverage through its network of partner banks. This is much higher than the normal $250,000 FDIC insurance provided by most competitors. As a result, you can keep more of your money in a single account with less stress. Milli Bank Savings Account If you like to bank on your mobile device, Milli may be a good option for you. It is a mobile-only company that currently has one of the highest APYs on the market, at 4.75%. Milli's app contains a feature called "Jars." Jars are personalized savings goals to which you can donate independently. This allows you to pursue multiple goals at once without combining your cash. For example, you may save for a new automobile while also contributing to your emergency fund in separate jars.
However, user evaluations of Milli's mobile app are generally negative. Users have complained about excessive wait periods for transfers from other accounts, as well as onerous account funding criteria. However, if you simply want to deposit money into an account and save it while earning a high APY, Milli may be the correct pick. Varo Savings Account A Varo savings account, which is consistently ranked among the best accounts for high APYs, can help you achieve your goals more quickly. To save more money faster, use Varo's "Save Your Pay" and "Save Your Change" functions, which transfer a percentage of your income and a roundup of transactions to your account. With a beginning APY of 3.00%, you can qualify to earn 5.00% by meeting two requirements each month: Receive direct deposits of $1,000 or more. End the month with a positive balance in both your Bank and Savings accounts. However, if you qualify, Varo will only give a 5.00% annual percentage yield on your first $5,000 in deposits. Any amount in your account over the first $5,000 will receive a 3.00% APY. Because of this, you should consider using Varo in conjunction with another 5% interest savings account. Digital Federal Credit Union's primary savings account DCU advertises that its Primary Savings account has no monthly fees and does not need you to open any other accounts. To join the credit union, you only need to make a $5 starting deposit, and you must keep the balance to preserve your membership.
