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This post was reviewed and updated on April 12, 2021. 

The best online high-yield savings accounts of April 2021

Bank
Annual Percentage Yield (APY) 
Minimum deposit
Next Steps 

1.05% APY
$0
Discover Online Savings Account

1.10% APY
$0
Ally High Yield Savings Account

1.30% APY**
$0
Marcus by Goldman Sachs High Yield Online Savings Account

1.15% APY
$0
Capital One 360 Performance Savings™

CIT Bank Savings Connect Account
$100
CIT Bank Savings Connect Account

1.35% APY
$100
Vio Bank Online High-Yield Savings Account

1.15% APY
$0
American Express Personal Savings

1.00% APY
$0
Chime Chime Savings Account

Axos High Yield Savings Account
$250
Axos High Yield Savings Account

*As of April 2021, the national average APY on savings accounts is FDIC National Deposit Savings Rates according to the FDIC.

** As of April 12, 2021

Savings rates for the largest US banks

Bank
APY
Next Steps

Citibank
0.04% – 0.50%
Citi Accelerate Savings Account

Capital One
0.40%
Capital One 360 Performance Savings™

PNC Bank
0.01% – 0.40%
PNC High Yield Savings℠ Account

TD Bank
0.01% – 0.15%
TD Bank Savings Account

Bank of America
0.01% – 0.05%
Bank of America Savings Account

Chase Bank
0.01% – 0.05%
Chase Premier Savings℠ Account

U.S. Bank
0.01%
US Bank Savings Account

Charles Schwab Bank
0.05%
Schwab Bank High Yield Investor Savings® Account

Wells Fargo
0.01% – 0.02%
Wells Fargo Savings Account

BB&T
0.01%
BB&T Savings Account

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.

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.

Note also that high-yield savings accounts’ rates have been decreasing in response to the coronavirus pandemic and struggling economy in 2021. But considering these accounts still offer higher rates than your average brick-and-mortar bank, it’s still a good idea to use them to save money.

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 …read more

Source:: Business Insider

      

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The best online high-yield savings accounts of April 2021

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