Why open a savings account? Saving money is the key to setting yourself up for financial stability. Most people at least need an emergency savings account for surprise expenses, while it's also a good idea to save for future goals like college or retirement.
Savings accounts offer a number of advantages that keeping your money in a piggy bank or under the mattress just won't provide.
- Savings Account Interest Rates: One of the biggest benefits of a savings account is the interest you can earn on your deposit.
- FDIC Insurance: Unlike a stock market investment, the Federal Deposit Insurance Corporation insures all savings account deposits up to $250,000 per depositor.
- Liquidity: A savings account lets you withdraw your money whenever you want – some accounts restrict the number of times you can make withdrawals during the month without paying a fee, but your money is still readily available whenever you may need it.
We do the work for you by collecting savings interest rates from local, national and online financial institutions across the nation and rank them in our rates table from the best savings account rates to the lowest. This lets you see the most competitive rates without any of the work.
GOBankingRates brings you studies, tips and how-to advice on finding the right account for you.
The best savings account rates are those that offer the highest savings account interest rates with low fees and additional perks offered by the bank. When choosing a new account, start by locating the top savings rates and then dig deeper into the product to ensure it's right for you.
Find the best savings account rates in your region or state: