The Top 5 Interest Savings Accounts for 2023

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Checking banking account The Top 5 Interest Savings Accounts for 2023
Checking banking account

In today’s low-interest-rate environment, it can be difficult to find a savings account that pays a decent return on your money. However, there are still a few banks and credit unions that offer high-yield savings accounts with competitive annual percentage yields (APYs).

Checking banking accountThe Top 5 Interest Savings Accounts for 2023
Checking banking account

Here are the top 5 interest savings accounts for 2023:

  1. Axos Bank
  • APY: 0.60%
  • Minimum balance: $0
  • Features: No monthly fees, no minimum balance requirements, free online and mobile banking, ATM fee reimbursement
  1. Ally Bank
  • APY: 0.50%
  • Minimum balance: $0
  • Features: No monthly fees, no minimum balance requirements, free online and mobile banking, ATM fee reimbursement
  1. Marcus by Goldman Sachs
  • APY: 0.45%
  • Minimum balance: $0
  • Features: No monthly fees, no minimum balance requirements, free online and mobile banking, ATM fee reimbursement
  1. Vio Bank
  • APY: 0.66%
  • Minimum balance: $100
  • Features: No monthly fees, no minimum balance requirements, free online and mobile banking, ATM fee reimbursement
  1. LandMark Credit Union
  • APY: 0.65%
  • Minimum balance: $500
  • Features: No monthly fees, no minimum balance requirements, free online and mobile banking, ATM fee reimbursement

These are just a few of the many high-yield savings accounts available. When choosing a savings account, it is important to compare APYs, fees, and features to find the best account for your needs.

Here are some additional factors to consider when choosing a high-yield savings account:

  • APY: The APY is the annual percentage yield, which is the interest rate that your savings account earns over the course of a year.
  • Minimum balance: Some savings accounts have a minimum balance requirement, which means that you must keep a certain amount of money in the account to avoid fees.
  • Fees: Some savings accounts have monthly fees or fees for ATM withdrawals.
  • Features: Some savings accounts offer features like free online and mobile banking, ATM fee reimbursement, and interest compounding.

How to find the best high-yield savings account for you:

  1. Compare APYs: Compare the APYs of different savings accounts to find the one with the highest interest rate.
  2. Consider your needs: Think about how much money you need to save and how often you plan to withdraw money from the account.
  3. Read the fine print: Be sure to read the terms and conditions of each savings account to understand any fees or restrictions.

Conclusion:

High-yield savings accounts can be a great way to earn more interest on your money. By comparing APYs, fees, and features, you can find the best high-yield savings account for your needs.

Read also: WHAT IS AN FHA LOAN?

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