Best High-Yield Savings Accounts for 2024

Best available rates across different account types for 2024.

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APY: 4.00%

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1. UFB Best Savings Account: best for access to funds

ufb direct logo

UFB Direct offers a Best Savings Account with many benefits. The account requires no minimum deposit or maintenance fee, but a deposit must be made within 30 days of opening the account or it may be closed.

The account includes a complimentary ATM card, which is rare for savings accounts, and access to 91,000 fee-free ATMs across the country.

The account also has a free online bank account and a mobile app for managing funds and depositing checks remotely. Additionally, the savings account is FDIC insured for up to $250,000 per depositor, per institution.

The UFB Best Savings Account offers several options for depositing and withdrawing money, including ACH and wire transfers, mobile-deposited checks, and cash deposits at select ATMs.

For withdrawals, customers can choose from ACH and wire transfers, check withdrawal, ATM withdrawal, and point-of-sale withdrawal. Outgoing wire transfers from the account will incur a small fee from UFB Direct.

This account is ideal for fee-conscious savers due to its absence of monthly maintenance fees. Additionally, the included complimentary ATM card makes it convenient for those who desire immediate access to their funds without having to go through external bank transfers.

If you're interested in learning more, you can visit UFB direct here.

2. Current Savings Pod: best neobank with checking and savings

current logo

Current is a neobank, a digital financial technology company that provides banking services primarily through its mobile app.

It offers a spending account with a rewards debit card, high-yield Savings Pods, and other financial services. Current partners with a traditional FDIC-insured bank to provide FDIC insurance for its customer deposits.

Customers primarily access their accounts through the Current mobile app. Current's spending account includes three Savings Pods for saving money for specific purposes, offering an impressive 4.00% APY, one of the most competitive rates in the market.

To earn interest, a minimum balance of $0.01 is required. However, it's important to note that each Pod has a maximum limit of $2,000, limiting the customer's maximum earning potential on the high interest rate to $6,000.

This is lower compared to Best Savings Account from UFB Direct with higher balance limits or no limits at all on their high-interest accounts.

Current is best for customers who desire a rewards debit card, prefer mobile app banking, and are willing to accept the low limit of the Savings Pods for a high savings rate.

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Current Savings Pod

Promoted offer: A Great Rate & FDIC Insurance, Convenient Online & Mobile Banking, Easy to Open.

3. CIT Bank Savings Connect: Best for online banking

cit bank logo

CIT Bank is an online-only financial institution that offers a high-yielding Savings Connect account for those who prefer online banking and are looking for a competitive Annual Percentage Yield (APY).

The Savings Connect account offers a 4.05% APY, which is one of the highest in the market and far surpasses the national average. Interest is compounded daily and credited to the account monthly, making it an attractive option for savers.

CIT Bank offers its customers convenience and savings by not charging any monthly service fees and by reimbursing up to $30 in ATM fees per month.

Opening an account is quick and easy, and can be done in just five minutes through their website by providing personal information such as your address, phone, email, and Social Security number.

The bank also offers 24/7 online banking services, allowing you to manage your account and make transfers anytime, anywhere.

In terms of security, CIT Bank is FDIC insured and has advanced security measures in place to prevent fraud and protect the privacy of its customers.

Being an online-only bank it requires a minimum deposit of $100 to open a savings account which must be funded within 30 days of opening.

If you're looking for a savings account with a lower minimum deposit or require physical branch access, CIT Bank may not be the best choice for you as it doesn't have any physical branches.

4. Axos High Yield Savings: best for free ATM card access

axos bank

The Axos High-Yield Savings account provides convenient access to funds via an optional ATM card and has no monthly maintenance fee, however, it lacks competitiveness in its annual percentage yield compared to other online savings accounts.

Even so, with Axos Bank's High-Yield Savings account, you don't have to worry about monthly maintenance fees.

Additionally, there's no minimum balance required to earn interest or avoid fees, though you'll need to make an opening deposit of $250.

If you need easy access to your funds, Axos Bank offers a free ATM card with your savings account, which you can request.

Managing your account is also convenient, as you can set up account alerts, control your ATM card, and manage your account through the bank's website or mobile app.

Our take? UFB Direct offers a Best Savings Account with an ATM card and a higher APY rate, providing customers with easy access to their funds and a more favorable return on their savings.

What is a high-yield savings account?

A high-yield savings account is a type of savings account that offers a higher interest rate than a traditional savings account. This means that you can earn more money on your savings over time.

There are many different types of high-yield savings accounts available, so it's important to compare rates and terms before selecting one.

If you're looking for a way to grow your savings, a high-yield savings account may be a good option for you. Just be sure to shop around and compare rates before selecting an account.

How can you open a high-yield savings account?

Opening a high-yield savings account is similar to opening a traditional savings account. You'll need to provide some personal information and choose a password.

Once you've opened your account, you can deposit money into it and start earning interest on your savings.

To get started, compare rates and terms from different banks and credit unions. Once you've found an account that meets your needs, you can apply for it online or in person.

Brian Meiggs
Brian Meiggs
Brian Meiggs is a personal finance expert, and the founder of Gabcast, formerly SavingExpert, a personal finance site helping you make your money work for you. He helps readers bring in passive income in order to increase their saving potential and start building wealth for the future. He regularly writes about saving, budgeting, investing, and general personal finance topics aimed to help anyone save more, pay off debt, and reach financial freedom. He has been quoted as a top personal finance blogger in major publications including Insider, Yahoo! Finance, NASDAQ, Discover, MSN Money and more.