Here are the best high-yield savings accounts right now


The best high yield savings account rates right now 4x3

The best high-yield savings accounts right now:
Wealthfront: Best high-yield savings account overall
BrioDirect: Best high-yield savings account APY
Ally Bank: Best high-yield savings account for ease of use
CIT Bank Savings Builder: Best high-yield savings account for automatic savings
Synchrony Bank: Best high-yield savings account for ATM access

You really can’t go wrong with a high-yield savings account. If you’ve decided to store your money in a high-yield account, where it’s growing but still accessible, you’re already doing better than the 75% of Americans who are leaving money on the table.

As more banks and financial companies crowd into the high-yield savings space, it has become an all-out battle to offer the best account features coupled with the highest interest rates — and that’s great news for savers.

It’s important to note that, unlike certificates of deposit (CDs), you do not lock in a fixed interest rate when you open a high-yield savings account. The annual percentage yield (APY) is variable since it’s based on what the Federal Reserve does. So while it’s smart to look at interest rates when comparing high-yield savings accounts, it’s not the be-all and end-all.

Below you’ll find our picks for the best high-yield savings accounts right now. Each of these accounts is free of monthly maintenance fees, insured by the FDIC, and appropriate for modest and super savers alike. Users can access each of these accounts online or through an app.

Wealthfront: Best high-yield savings account overall

Why it stands out: While technically a cash management account, it has the same features as a high-yield savings account: safety, growth, and accessibility. It is federally insured just like a savings or checking account, but you can also move the money into an investment account with ease.

While its 1.78% APY isn’t the highest you’ll find, Wealthfront offers the complete package including a user-friendly app. There are no limits to the number of transfers you can make each statement cycle and your money is FDIC insured up to $1 million.

Wealthfront goes a step further than simply holding your money. The robo-adviser asks what you’re saving for, whether it be an emergency fund, wedding, or house down payment, how much it will cost, and when you need it by to forecast how your goals may impact your other financial plans.

Rate: 1.78%

Minimum opening deposit: $1

What to look out for: No check capabilities. Wealthfront’s high-yield account doesn’t allow mobile check deposit or issue checks using funds from your account, though it plans to add this feature later.

BrioDirect: Best high-yield savings account APY

Why it stands out: BrioDirect is the online division of Sterling National Bank and it offers one of the top APYs for high-yield savings accounts right now, paired with a low minimum deposit. It’s also accessible via mobile app.

Rate: 2.10%

Minimum opening deposit: $25

What to look out for: Fund transfer wait times. We noticed some account holders complaining that while it took just minutes to open the account, it took longer …read more

Source:: Businessinsider – Finance

      

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