Saving money is something that everyone should try to do, because you never know when a big expensive pop up can happen.
But, saving money can be difficult, especially when the savings rate is not so attractive.
However, we’ve found the 10 best savings accounts in America that can help boost your savings efforts.
So, read the list, choose your favorites and make your savings for yourself and your family.
Top 10 Savings Accounts in America
Are you trying to find out which bank has the best savings account in the United States?
The following is a list of the top 10 American savings accounts and statistics compiled from various sources on the web, such as banks, Wikipedia, various media, etc.
These are the 10 best savings accounts in America.
10. FNBO direct
Closing the list compared to others on the list is a relatively unknown bank.
FNBO means First National Bank of Omaha. The company has a long history in the banking world and has its roots in Nebraska.
If you are a person who prefers to go to a branch to deposit your money, you will be happy to know that they have branches in 7 states, mostly in the Midwest of America.

However, if you are not bothered by it, you can open an account online with a minimum deposit of only $ 1.
They are currently offering a 2.00% APY, which is quite good compared to the current standard rate.
And, if you like to do all your banking under one roof, you can also think of opening a checking account so that you can easily transfer money between the two!
Type | Subsidiary |
---|---|
Industry | Finance and Insurance |
Founded | Omaha, Nebraska December 10, 1857 (as Kountze Brothers Bank); July 1, 1865 (First National Bank Omaha) |
Headquarters | Omaha, Nebraska, United States |
Key people
|
Clark Lauritzen, President[1] |
Products | Financial services |
Number of employees
|
4320 |
Parent | First National of Nebraska |
Website | www |
9. Capital One Bank
If you want to use technology for your financial management and have the skill to do it online, then opening a savings account at Capital One Bank may be a good choice for you.
At the moment, they are offering 1.00% APY, which is still much better than the national average.
The account is completely fee-free and you do not need to keep your balance, so it is up to you how you use this account in your financial planning.
Now, suppose you want to have multiple savings accounts, or you want to divide your savings into easily identifiable savings targets, such as a travel fund or car fund, well, Capital One can open up to 25 savings accounts as a single account holder.
When you make a payment, you can set up automatic transfers to the amount of your choice in each savings account, so that your entire savings system is automated!
Type | Public |
---|---|
Industry | Financial services |
Founded | July 21, 1994 Richmond, Virginia, U.S. |
Founder | Richard Fairbank, Nigel Morris |
Headquarters | Capital One Tower McLean, Virginia |
Areas served
|
United States, Canada, United Kingdom |
Key people
|
Richard Fairbank (Chairman, President and CEO) Stephen S. Crawford (Head of Finance and Corporate Development) R. Scott Blackley (CFO) |
Products | Retail banking, credit cards, loans, savings |
Revenue | ![]() |
Operating income
|
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Net income
|
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Total assets | ![]() |
Total equity | ![]() |
Number of employees
|
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Subsidiaries | Wikibuy, ShareBuilder, Paribus, United Income, BlueTarp, Adaptive Path, Confyrm, Capital One Securities, Critical Stack, Monsoon Company, Finnoble Solutions, Notch |
Capital ratio | 11.2% (2018) |
Website | www |
8. SOFI Money
This type of account from SOFI Money can be called “Hybrid Savings Account”.
The reason is that it is actually a cash account whose interest rate on a savings account is currently 1.80% and a debit card like a checking account.
So, you get all the benefits of your parking with reasonable interest, no fees and online access to your account, but you can also withdraw from that balance at any time using your debit card!
This can be a good option for anyone who prefers to get a reasonable amount of access at any time, but will probably still hold cash for any kind of emergency.
So this could be a good place to keep your emergency funds.
Type | Public |
---|---|
Traded as
|
Nasdaq: SOFI |
Industry | Personal finance, Software |
Founded | August 2011 |
Founders | Mike Cagney Dan Macklin James Finnigan Ian Brady |
Headquarters |
San Francisco, California, U.S.
|
Key people
|
Anthony Noto (CEO & Director) |
Products | Student loans Home loans Personal loans Stockbroker Wealth management Credit card |
Revenue | ![]() |
Net income
|
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Number of employees
|
1,383 (2019) |
Website | sofi.com |
7. Ally Bank
Currently offering a savings rate of 1.90% APY, Ally Banks Savings Account can be valuable to you.
As you might expect, this type of savings account comes with no fees, no minimum balance and other nice value benefits.
Where this account stands apart from others it facilitates access and customer service. By now, Ally Bank is known for providing good customer service, and accessing your money through its website is easy and efficient.
Ally Bank also offers high-yield checking accounts, so if you want to keep everything under one roof and do everything online, opening an account with them may work well for you.
Also, if you do get one of their checking accounts, you’ll receive a debit card which you can use for free across at a number of ATMs across USA.
Formerly | GMAC Inc. (1919–2010) |
---|---|
Type | Public company |
Traded as
|
|
Industry | Financial services |
Founded | 1919 | (as General Motors Acceptance Corporation)
Headquarters | Ally Detroit Center Detroit, Michigan, U.S. (Corporate) Sandy, Utah, U.S. (Ally Bank) |
Key people
|
Franklin W. Hobbs, Chairman Jeffrey J. Brown, CEO Jennifer Laclair, CFO |
Services | Car finance Online banking Mortgage loans Stockbrokerage |
Revenue | ![]() |
Net income
|
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Total assets | ![]() |
Total equity | ![]() |
Number of employees
|
8,700 (2019) |
Website | ally |
6. Marcus by Goldman Sachs
The next best savings account in America is Goldman Sachs’ Marcus.
Contacts can play a big role in your decision to open a new account and so on. Goldman Sachs has a reputation when all things are considered, and it’s probably not going anywhere anytime soon.
So, if you want to open a Marcus Savings Account, you will not get 2.00% APY, no fee and minimum deposit.
The extra 0.10% puts it in front of Ally Banks online savings account and without paying any fees for free, we think this is a good option if you are just looking for a savings account!
Also, if you want to transfer a lot of money, the Marcus account should be good enough because it has a reasonable transfer limit.
Type | Public |
---|---|
Traded as
|
|
ISIN | US38141G1040 |
Industry | Financial services |
Founded | 1869 |
Founders | Marcus Goldman Samuel Sachs |
Headquarters | 200 West Street New York, NY 10282 U.S. |
Area served
|
Worldwide |
Key people
|
Lloyd Blankfein (Senior Chairman) David M. Solomon (Chairman and CEO) John E. Waldron (President and COO) Richard Gnodde (Vice Chairman) John F. W. Rogers (Secretary) Lakshmi Mittal (Board Member) Stephen M. Scherr (CFO) |
Products | Asset management Credit cards Commercial banking Commodities Investment banking Investment management Mutual funds Prime brokerage |
Revenue | ![]() |
Operating income
|
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Net income
|
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AUM | ![]() |
Total assets | ![]() |
Total equity | ![]() |
Number of employees
|
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Divisions | Investment Banking Global Markets Asset Management Consumer & Wealth Management |
Subsidiaries | Marcus by Goldman Sachs Goldman Sachs Personal Financial Management Goldman Sachs Capital Partners Goldman Sachs Ayco Personal Financial Management |
Capital ratio | Tier 1 12.8% (2018; Basel III Advanced) |
Rating | Standard & Poor’s: BBB+ Moody’s: A3 Fitch Ratings: A |
Website | goldmansachs |
5. Synchrony
Another savings account that gives high yields is one of synchronization.
Offering a 2.00% APY like the Marcus account from Goldman Sachs, Synchrony’s savings account is currently one of the best rated on the market.
If you want to open an account with them, you will be happy to know that you have FDIC insurance and consistently good savings rates.
Account opening is easy and done in minutes, with no minimum deposit of more than $ 1.
However, if customer service and a good user experience are important to you, synchronization may not be the best choice. They have received some negative feedback from customers about their clunky website and overall customer support.
You won’t be able to go to a branch anytime soon, because the company only has one location in New Jersey.
So, consider these factors when deciding whether to choose this account, because high interest yields are nothing if you have trouble accessing money.
Type | Public |
---|---|
Traded as
|
|
Industry | Financial services |
Founded | September 12, 2003 | [1]
Headquarters |
Stamford, Connecticut, U.S.[2]
|
Key people
|
[3] |
Products | Credit cards Payment systems |
Revenue | ![]() |
Net income
|
![]() |
Total assets | ![]() |
Total equity | ![]() |
Number of employees
|
16,500 (2018)[4][5][6] |
Website | synchrony |
4. American Express Bank
Next, we have a high yield savings account from American Express Bank.
If you are already an existing Amex credit card customer, you will know how good their customer service is and what you can expect if you open a savings account with them.
They offer a savings account with 1.90% APY, it is FDI insured and has been positively reviewed.
This is an online-offer only, as Amex has no branches, so this type of account would be most suitable for someone looking for a high-interest account to save their money from a reputable company.
An annoying downside is that if you have a credit card and a bank account, you need to login to multiple accounts, because they are not connected.
This isn’t a big deal, but there are some things to consider if you want to shorten your account and password.
Type | Public |
---|---|
Traded as
|
NYSE: AXP DJIA component S&P 100 component S&P 500 component |
Industry | Banking Financial services |
Predecessor | Livingston, Fargo & Company Wells, Butterfield & Company Wells & Company |
Founded | March 18, 1850 | , in Buffalo, New York, U.S.
Headquarters | 200 Vesey Street New York, NY 10285 United States |
Area served
|
Worldwide |
Key people
|
Stephen J. Squeri (Chairman & CEO) Jeffrey C. Campbell (Executive VP & CFO) |
Products | Charge cards Credit cards Traveler’s cheques Corporate banking |
Services | Finance Insurance Travel |
Revenue | ![]() |
Operating income
|
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Net income
|
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Total assets | ![]() |
Total equity | ![]() |
Owner | Berkshire Hathaway (18%) |
Number of employees
|
63,700 (December 2020)[1] |
Website | www |
3. Discovery Bank
At number 3 on the list of America’s best savings accounts is Discover Bank’s high yield savings account.
Probably not the most well-known bank among the savings, but certainly one that has been around for a long time.
Their savings account currently offers 1.90% APY with no fee and no minimum balance requirement.
Now, if you’re a fan of offers and promotions and can’t choose between this account and another one on this list, they’ve made your life easier by offering you a deal to sign up.
If you open an account by a certain date and deposit some cash, they’ll give you $150 – $200 depending on the amount you deposit.
Type | Public |
---|---|
Traded as
|
|
Industry | Financial services |
Founded | 1985 | (as a subsidiary of Sears)
Founder | Sears |
Headquarters |
Riverwoods, Illinois
, U.S.
|
Key people
|
|
Products | Payment systems, Credit cards, Finance, Consumer banking, Loans |
Revenue | ![]() |
Operating income
|
![]() |
Net income
|
![]() |
Total assets | ![]() |
Total equity | ![]() |
Number of employees
|
17,600 (2020)[1] |
Parent |
|
Subsidiaries | Diners Club International Discover Bank Discover Network Pulse |
Website | discoverfinancial |
2. CIT Bank
Second on our list is CIT Bank, which currently offers a 2.20% APY Premier High Yield Savings Account.
It is one of the highest rates in the market and it is attracting a lot of attention.
However, keep in mind that you will need a bank account from another provider to be able to transfer money in and out of your savings account, as CIT does not provide checking accounts. However, it does have branches that you can visit if you need some more peace of mind.
To open an account, you don’t need a huge balance, it will be $ 100, but to get the best possible rate, you will probably jump through a few hoops to confirm your eligibility.
Type | Public company |
---|---|
Traded as
|
NYSE: CIT S&P 400 Index component |
Industry | Banking Financial services |
Founded | 1908 | in St. Louis, Missouri
Founder | Henry Ittleson |
Headquarters | 11 West 42nd Street, New York, New York, USA |
Area served
|
North America |
Key people
|
Ellen Alemany (Chairwoman & CEO) John Fawcett (CFO) Robert Rubino (President of CIT Bank) |
Products | Commercial banking Retail banking Asset-based lending Commercial mortgages Factoring |
Revenue | ![]() |
Net income
|
![]() |
Total assets | ![]() |
Total equity | ![]() |
Number of employees
|
3,609 (2019) |
Divisions | Consumer Banking Commercial Finance Real Estate Finance Rail Business Capital |
Subsidiaries | OneWest Bank |
Capital ratio | 12.0% Common Equity Tier 1 capital (2018)[1] |
Rating | Fitch: BB+ (2018) S&P: BB+ (2018) |
Website | cit |
1. Betterment
The best savings account in America right now is Betterment.
They are fairly new to the world of high yield savings accounts, but they are certainly offering some great value.
As it currently stands, they are offering a maximum rate of 2.21% APY with absolutely no fees and minimum balance requirements.
Their account is FDIC insured up to $ 1,000,000.
If you want to get the highest rate, they have to join your waiting list for a checking account, which they are disclosing, however, the checking account is free and it is not mandatory that you open it.
If you combine their current offers with their great online banking benefits and positive reviews, it’s pretty clear why they came in at number one!
Type | Private |
---|---|
Industry | Investment services |
Founded | 2008 |
Founder |
|
Headquarters |
New York City, New York
, United States
|
Key people
|
|
Products | Financial services, asset management, portfolio management, trust services |
Revenue | US$50 million (2019) [1] |
AUM | ![]() |
Number of employees
|
293 [3] (2020) |
Parent | Betterment Holdings, Inc. |
Divisions | Betterment for Business Betterment for Advisors |
Subsidiaries | MTG, LLC. |
Website | www |
Summary:
Above is a list of the top ten banks in the United States. From here you can easily bank on any of your banks and you can provide this information to any of your coworker family members and other classmates.
We hope that they will also benefit from you in this regard. We are happy to help you through this site, so you will visit the website of each site and verify the correct information.