Top Savings Account Rate List – Some of the Best Choices So Far in 2020
Getting the best interest rates for your savings account can mean the difference between earning just an additional $ 20 or $ 200 per year. The annual percentage returns of the best online savings accounts are up to 10% higher than those of traditional accounts. The national average last year was around 0.09%, but some online financial institutions can give APY rates of 1.70% – 2.0%. Here’s a look at some of the top savings account rates:
CIBC Agility account
Offered by CIBC Bank USA, the Agility account currently comes with an APY of 1.85% per account. To apply, you will need a photo ID, a minimum deposit of $ 1,000, be at least 18 years old, social security number, and employment details. There are no maintenance fees. You can make limited transfers through CIBC NetBanking.
Alliant Credit Union
Alliant offers a high-rate savings account rate of about 1.65%, and the minimum balance to keep the account open is only $ 5. However, to earn interest, you must maintain an average daily balance of at least $ 100. This is a low average amount compared to many of the other top account fees on this list. As long as you select “eStatements”, there is no monthly fee.
American Express Personal Savings
There is an APY of 1.70 with a Personal Savings Account through American Express. It’s easy to set up an account and you can even have multiple accounts linked and move money between them. There are no monthly balance requirements, although you will still need to hold at least $ 1 to earn the APY.
CIT Bank
This online bank offers a couple of good account options, including a Savings Generator (up to 1.80% APY) and Premier High Yield Savings (1.55%). With the latter, you can start growing and reaching your financial goals more quickly. With the Savings Builder option, you will need a minimum balance of $ 25,000 or a monthly deposit of $ 100. When it comes to customer service, CIT Bank is the best option on this list of the best savings account rates.
Regardless of which bank you choose, you need to make sure you choose one that is FDIC-backed. All of the financial institutions on this list are. Read the reviews as well to see if there are any complaints and to understand the pros and cons of each bank.
When it comes to the top savings account fees, CIT Bank is usually at or near the top of everyone’s list.