Savings

Savings bonds are a secure and low-risk investment option typically offering a fixed interest rate over a specified period

Numerous factors influence people’s savings account balance, but there are steps you can take to see that number grow.

A savings account allows individuals to deposit and store money, typically earning interest while providing easy access to funds when needed

Explore the differences between money market accounts and savings accounts to decide which option aligns better with your goals.

USAA savings accounts don’t offer the highest rates but can be a great way to gain access to the bank’s other products.

The NCUA and FDIC are government agencies that protect savings deposits in credit unions and banks, respectively

You can typically open a savings account online, over the phone or at a physical branch location. You’ll just need a government ID, your Social Security number and any minimum deposit that’s required.

UFB’s savings account has one of the highest APYs (5.25%) in the industry, plus no monthly fees – making it a top choice.

Chase offers a $300 bonus for most new checking customers, but bonuses can be as high as $3,000 for people with large accounts.

A safe deposit box protects your valuables and documents within the walls of a bank or credit union. They are generally cheap to rent.

A great  way to build your savings account quickly is to cut expenses and add a new source of income at the same time.

PNC offers a high-yield savings account offering 4.65% APY, plus savings accounts with no minimum deposit requirement.

Barclays’ high-yield account has no monthly fees and no minimum opening deposit requirements, and comes with a 4.35% annual percentage yield (APY).

Bank of America offers tiered interest rates, but the highest tops out at 0.04% APY – well under the national average

Citizens Access, Citizens Bank’s online-only subsidiary, offers an easy-to-open high-yield savings account with an APY well above the national average

Wells Fargo offers savings account options with APYs up to 2.51%, but to get the best rate, you’ll need to deposit a lot of money.

Laurel Road, the online-only brand of KeyBank, offers highly competitive rates on its high-yield savings account with no minimum deposit requirements

BrioDirect offers a savings account with an interest rate of 5.30%. The bank has higher rates than Ally, Chase, Discover, and UFB Direct.

SoFi’s savings account rate is 4.60% (APY) with a monthly direct deposit of any amount. In addition to offering one of the highest rates among major banks, SoFi doesn’t charge monthly maintenance or overdraft fees. This fully online bank also offers a sign-on bonus of $300 for new clients.

Upgrade’s savings account options offer high APYs with no fees, but you must meet balance requirements and use direct deposit to get the best rates

The brick-and-mortar bank has modest APYs, but its online division offers a high-yield savings account with competitive rate APYs, but its online division offers a high-yield savings account with competitive rates

Citi offers a high-yield savings account with a 4.30% APY, along with a baseline savings account and the chance to earn relationship rates.

Our top three picks for the best savings accounts are SoFi Bank (4.60%), Service Credit Union (0.25%) and Bask Bank (5.10%). For our full list of the best savings accounts, we at the MarketWatch Guides team researched 128 savings accounts and surveyed 1,000 account holders about how they bank.

We then narrowed down our list to nine picks, five of which we opened accounts with to help you get a first-hand perspective on the application process and beyond.

Discover’s savings account sidesteps opening deposit and balance requirements and still delivers a competitive 4.25% APY.

Learn how to find the average savings account interest rate, how that differs from the highest rates and what factors impact your balance earnings

Chase offers a few savings account options with APYs of 0.01% or 0.02%, and there are no minimum opening deposit requirements.

The Marcus savings account APY is 4.40%, which beats the rates of several competing online and brick-and-mortar banks for high-yield savings accounts.

Capital One’s high-yield 360 Performance savings account offers a 4.25% APY, and doesn’t require a minimum opening deposit

American Express Bank offers a 4.25% APY on its high-yield savings account, which is nearly 10 times higher than the national average of 0.88%. It also has no minimum deposit requirement or monthly fees, making it accessible to almost anyone.

Ally Bank’s high-yield savings account rate is 4.20% APY, which is competitive with the rates offered by other top online banks. Unlike most of those banks, however, this APY applies to all balance tiers. To ensure you’ll always see the most current savings rate, the APY is automatically updated through our data-analytics partner, Curinos.