Top Savings Accounts

There are 4 accounts you should have:

1 - Checking (never keep more than 2 months' expenses in here)

2 - High-Yield Savings Account (Ideally have 3-6 months' expenses in here)

3 - Roth IRA (this is your retirement account, try to add $600/mo)

4 - 401k or Brokerage (Investing above your Roth IRA max)

The goal of this page is to help you find a High Yield Savings Account where you can earn some money on the money you're lending to the bank.

The last thing you want to do is stick your money into an account where it's getting .2% APY or even worse 0%!

I'm going to cover 4 banks that I think are great, it doesn't mean they're the only one's I'd ever work with, I just don't want to overwhelm you with options.

Scroll to the bottom for a HYSA Calculator and a summarized table of the accounts.

1. SoFi Checking & Savings

APY: Up to 3.80% with direct deposit or $5,000/month in deposits; otherwise, 1.20% APY.
App & User Experience: Highly rated for its clean design and automation tools like “Vaults” for goal-based saving and “Roundups” to save spare change.
Customer Service: Strong remote support; no physical branches.
Unique Features: Early direct deposit (up to 2 days), no monthly or overdraft fees, FDIC insurance up to $3M, and a current sign-up bonus up to $300.
Cons: Requires a SoFi Checking account to access full benefits; $4.95 fee for cash deposits; no in-person banking.

2. Ally Bank

APY: 3.60%, compounded daily.
App & User Experience: User-friendly with features like “Savings Buckets” for organizing goals and “Surprise Savings” for automatic transfers.
Customer Service: Highly rated for responsive support and transparency.
Unique Features: No monthly fees, no minimum balance, and a strong reputation for digital-first banking.
Cons: No physical branches or cash deposit options.

3. Marcus by Goldman Sachs

APY: 4.40%, among the highest available.
App & User Experience: Simple and functional, though less feature-rich than competitors.
Customer Service: Generally positive reviews, though some users note slower transfer times.
Unique Features: No fees, no minimum deposit, and a variety of CD options.
Cons: No checking account or debit card options; limited to six withdrawals per month.

4. Capital One 360 Performance Savings

APY: 3.60%.
App & User Experience: Highly rated mobile app with features like Zelle integration and early direct deposit.
Customer Service: Mixed reviews due to recent legal issues regarding interest rate disclosures.
Unique Features: No fees, no minimum balance, and access to physical branches and Capital One Cafés.
Cons: Recent lawsuits allege misleading practices related to interest rates on older accounts.