Best Nine Savings Accounts in 2019

Unless you pay close attention to the details of your finances in general, you might think just putting money in any savings account is all you need to worry about. However, that is not the case. Not all types of savings accounts are created equally.

When trying to save money, there are standard savings accounts, high-yield accounts, money market accounts and funds, savings accounts for investors and the list goes on. While you can spend days researching the different types of accounts for various savings styles, we’ve done your homework for you. Here are our top choices for savings accounts in 2019.

The CIT Bank Savings Builder

This high-yield account from CIT Bank is well-rated, has one of the highest interest rates to benefit customers and is updated daily. This account is exceptionally user-friendly. It’s an excellent option for beginning savers or those who want a straightforward platform to use.

There is only a $100 minimum to open a Cit Bank Savings Builder! Users who have $25,000 or more can earn even higher income returned on their investment. This is a fantastic option for the average individual to the more extreme saver.

American Express Savings

This savings account through American Express is also a high-yield account and offers competitive customer interest rates. Additionally, it’s super simple to make deposits and transfers online with American Express Savings. They even allow customers to convert their account to a Certificate of Deposit (known as a CD) for more significant interest returns on their investments.

Ally Bank Savings Account

Many people have auto leases or loans through Ally Bank. Ally Bank offers home loans, as well. Ally also provides savings options, which makes it comfortable for some individuals to manage several accounts in one place. They are exceptional at being upfront and not charging many small fees. As a bonus, there is no minimum balance required to open a savings account.


A Kasasa is technically a checking/debit account that acts in many ways, like a saver. These are available through local banks and credit unions so you will need to check your specific area to see what options are available.

If you utilize a Kasasa account more like traditional savings and keep your bank withdraws to a minimum, this can be one of the more lucrative options. The rates are generally above even the most competitive high-yield savings accounts, and they also offer rewards. To get some clarity on Kasasa accounts if you’re unsure, read more here.

Synchrony Bank

Once known as GE Capital, Synchrony Bank is well-marketed online and is the parent of some specific store credit cards. Their high-yield savings account requires no minimum and you can make withdraws online, at ATMs, or via your phone.

HSBC Direct Savings

The institution of HSBC has been around since 1865 and is making excellent headway in the United States. They are one of the largest banks listed here and have quite competitive yields for customers. With only a $1.00 minimum opening balance and no monthly fees, this is an ideal account for the general public. They also offer cash incentives from time to time for opening a checking account with them, too.

Barclays Bank

An account with Barclays is pretty traditional. They provide rates that are still somewhat competitive, but we particularly like that there is no minimum to open an account. Barclays also has no monthly fees and gives tips to help you save. Their online transfer and deposits make for straightforward savings with a well-known institution.

Vio Bank

Vio Bank is simple to manage online, has a low minimum balance and offers very competitive high-yield rates. Vio also allows for six free withdraws per monthly statement cycle and no monthly fees. Your account is also FDIC insured up to $250,000 and interest is compounded daily.

Capital One 360

You might associate Capital One with credit cards, but they have also had banking options for quite some time. Their yield rates are slightly less competitive. However, for individuals who don’t have massive amounts in savings (and therefore wouldn’t see a huge difference in a one percent difference) we like Capital One’s option.

You can keep the account open even with $0 and have no fees. This can be an excellent option for those who already have a credit card or checking account with Capital One, as transferring money between accounts can be even more accessible.

Make the Most of Your Savings

Regardless of the type of account you select, it’s crucial to work at budgeting and using your money wisely. With any savings plan, despite the rates on the yield returns, naturally, you will need to keep money in there to see any gains and allow it to build.

Methods such as using cash in an envelope for grocery shopping, and waiting 24 hours before making a significant purchase can go a long way to keep you from overspending. Saving a portion of any and all windfalls, such as tax returns or inheritances, is a smart move, too.

Many apps such as Mint and Albert can help you see places you’re spending small amounts without really noticing. One subscription for $10.00 might not seem like much, but when you have a number of them, they can add up to several hundreds of dollars a year. You can also select an amount for these apps to auto-save for you. If you struggle to set money aside every month, these apps can do the legwork for you.

Please wait