If your goal is to find a good savings account, it may be a bit difficult to decide today, due to the wide variety of options that are currently on the market. Apart from that, it can be overwhelming to have to take into account so many factors to get a savings account, since the characteristics that good savings accounts have are usually many and varied, so if your goal is to obtain a good savings account can become a tedious job that requires a lot of research. But don’t worry, today you will discover the best options for you. Are you interested? Don’t stop reading.
Sallie Mae Bank SmartyPig Account
• Monthly maintenance fee: $0
• Minimum deposit requirement: $0
• Annual Percentage Yield: 2.10% to 2.25%
SmartyPig accounts offer very interesting things, apart from having a fairly decent annual percentage yield (APY), it also gives its users the possibility to set savings goals and specific terms, which is extremely useful to follow letter your savings goals. Your customers can also withdraw their money or make deposits at any time, but withdrawing your money is subject to monthly withdrawal limits. Similarly, there is no minimum initial deposit or monitoring of your balance, the only condition is not to have an amount of money greater than 250,000 dollars.
Consumers Credit Union Smart Know
• Monthly maintenance fee: $0
• Minimum deposit requirement: $5
• Annual Percentage Yield: 0.25% to 2.00%
Smart Saber offers one of the best APY of all banks in the United States, with up to 2.00% annual percentage yield, it is one of the best options if your goal is to save 100%. However, this savings account has several requirements, such as making a monthly deposit of a minimum of $50 and a maximum of $1,000, so the maximum you can deposit annually is $1,000. But there are no restrictions on the total accumulated balance, so it is great to save constantly each month.
Varo Savings Account
• Monthly maintenance fee: $0
• Minimum deposit requirement: $0
• Annual Percentage Yield: 2.00% to 5.00%
Varo is another very juicy option today, it has an annual percentage yield that can reach up to 5% meeting certain requirements each month. To open this savings account you first have to open a Varo bank account, but after that you can enjoy all the benefits of this savings account. Benefits such as obtaining 2.00% APY without any type of requirements, yes, it is not necessary to have a minimum balance in your account, from one cent you can already enjoy that 2.00%.
Conclusion
A savings account is not for everyone, it depends a lot on what you are looking for and your lifestyle, obviously you cannot have a savings account as your main account or your only account, due to the requirements and demands that most of these they bring, but if you know how to manage it and take advantage of it well, it can be a very beneficial and fruitful source in the future. These are just some of the best options today, but remember to keep looking to be 100% sure and find the one that best suits you.
References
https://www.nerdwallet.com/best/banking/high-yield-online-savings-accounts
https://www.forbes.com/advisor/banking/savings/best-online-savings-accounts/
https://www.forbes.com/advisor/banking/consumers-credit-union-review/
https://www.forbes.com/advisor/banking/sallie-mae-bank-review/
https://www.bankrate.com/banking/savings/rates/#how-to-find-best-savings-account