Savings Accounts

Saving money is the key to setting yourself up for financial stability. As a general rule, you should aim to save at least six months’ worth of expenses in an emergency fund in case you lose your job or you have an unexpected expense, such as medical bills or a major car repair. It's also a good idea to save for future goals like retirement. Savings accounts offer a number of advantages that keeping your money in a piggy bank or under the mattress simply won't provide — most notably, interest.

One of the biggest benefits of a savings account is the interest you can earn on your deposit. Additionally, the FDIC insures all savings account deposits up to $250,000 per depositor.

Another advantage of having a savings account is liquidity, which means funds are accessible at any time, though that access is limited to a maximum of six withdrawals per monthly statement cycle.

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How to Find the Highest Savings Account Interest Rates

Just about every bank and credit union offers some type of savings account – often several – which makes finding and comparing accounts time-consuming and difficult. That’s why we do the work for you by collecting savings interest rates from local, national and online financial institutions across the nation and ranking them in our rates table from the highest savings account rates to the lowest. This lets you see the most competitive rates without any of the work. You should know that the interest rates are not the only thing you should be looking at when comparing savings accounts. Things like fees, account minimums and bank stability should also be considered. With that in mind, check out our Best Banks series review of the best savings accounts for 2015.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.


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