Savings accounts keep your money safe. And although they only accumulate small amounts of interest, they’re a better option than saving your pennies in a piggy bank, where you’re earning nothing at all.
But with multiple factors to consider, like bank type, interest rates, and start up fees, choosing a savings account can be tricky. So how do you choose one?
The best savings accounts have a high interest rate and low monthly fees, because they’re the accounts that offer the biggest year over year return on investment, without annoyances like monthly charges, or penalties for using a non-bank owned ATM.
We combined six important factors for choosing a savings account, including interest rate (APY), minimum balance to avoid fee, monthly fee, overdraft fee, minimum balance to open an account, and service fee for using a non-bank owned ATM, into one overall score out of 100—the Smart Rating—to pick the top 5 Savings Accounts in the nation.
Click the button below to scroll through the top 5 accounts!