GOBankingRates Ranks the 10 Best Savings Accounts of 2015 for Its Third Annual “Best Banks” Series

LOS ANGELES, Jan. 13, 2015 /PRNewswire/ — Saving money is the most popular financial resolution among Americans this year¹, but many are undervaluing the one financial product that will help them do that. Leading personal finance site GOBankingRates ranked and reviewed the top 10 savings accounts in the U.S. to help consumers find the best places to store their money in 2015. This is the first installment in GOBankingRates’ “Best Banks” series, running now through February, which ranks the top institutions and products of this year based on the criteria that matter to consumers most.

GOBankingRates investigated personal savings accounts at the 120 biggest U.S. brick-and-mortar and online banks, with a methodology that ranked the interest rates, monthly maintenance fees, minimum balances required to avoid a fee and minimum opening deposit requirements of each.

SEE THE FULL LIST OF BEST SAVINGS ACCOUNTS HERE

“When choosing a savings account, interest rates are certainly important, especially in a low-rate environment where the highest rates out there are sometimes 10 or 12 times the average,” said Casey Bond, GOBankingRates’ managing editor. “Still, there are a number of other factors that are important to consider: A monthly maintenance fee, for example, could eat up a year’s worth of interest. Additionally, how accessible is your money? Does your bank offer free online or mobile banking? A savings account is crucial to your financial health, but you need to make sure you’re keeping your hard-earned money in the right vehicle.”

10 Best Savings Accounts of 2015:

1. GE Capital Bank: Online Savings (tie)

1. MySavingsDirect: MySavings Account (tie)

3. Barclays Bank: Online Savings (tie)

3. iGObanking.com: iGOsavings (tie)

5. Ally Bank: Online Savings Account

6. Bank5 Connect: High-Interest Savings

7. Synchrony Bank: Optimizer^+plus High Yield Savings

8. CIT Bank: High-Yield Online Savings Account

9. American Express Bank, FSB: High-Yield Savings Account

10. Flagstar Bank: SimplySavings

To see why these banks offer the best savings accounts of 2015, visit: http://bit.ly/1IEDpwy

Key insights:

• The best savings accounts of 2015 are largely dominated by online banks, with only one brick-and-mortar institution making the list.
• Interest rates on the list span from 0.85% APY to 1.10% APY.
• Only two savings accounts on the list come with a monthly service fee, but both can be waived by maintaining a minimum balance.

For a video on how to find the best bank for you, visit: http://bit.ly/14Nx19I

About GOBankingRates

GOBankingRates.com is a leading portal for personal finance news and features, offering visitors the latest information on everything from interest rates to strategies on saving money, managing a budget and getting out of debt. Its editors are regularly featured on top-tier media outlets, including U.S. News, Business Insider, Daily Finance, Huffington Post and more. It also specializes in connecting consumers with the best financial institutions and interest rates nationwide.

Contact:

Connie Lundegard GOBankingRates.comconniel@gobankingrates.com 310-297-9233 x112

¹ GOBankingRates: “2015 Financial Resolution Survey,” Dec. 29, 2014