Savings accounts can help people build their assets without putting their finances at risk. Your money is safe in a savings account, and you’ll be less likely to dip into it and make compulsive buying decisions that can drain your finances. When choosing an account, there are a few things to consider. One thing is the interest rate. Another thing is the ease of making deposits and withdrawals. Some have electronic features like easy transfers electronically and ATM cards. However, keep in mind that not having an ATM card might actually be a benefit as it would make it harder to take out money on a whim. Here are the best savings account options we like.

Top 3 Savings Account Considerations

  • Ally
  • Goldman Sachs
  • Synchrony Bank

When shopping for a savings account, you should also ask whether banks offer high-yield savings accounts that have more restrictions while offering better interest rates.


Ally is an online-only bank that offers some of the best-available online savings account options. Their website is easy to use, and it has mobile apps available for Apple and Android. Another bonus is their customer support, which includes the option of live chat on their website. The interest rate is good at 1.15 percent, though not the absolute best. There is no monthly fee and no minimum deposit requirement. You also do not have to maintain a minimum balance to earn interest. This is about as easy as it gets. You can easily deposit your money, and get it out just as easily. It is easy to transfer to your checking account, and to some extent, you can even pay bills with this account. You may deposit checks by taking a picture of the check with your phone and submitting it. Interest is also compounded daily which is an added bonus. This bank is online only, so while it does offer a great online experience, there is no physical bank you can visit.


  • Mobile friendly
  • Live help always available
  • No monthly fee or minimums

Goldman Sachs (GS Bank)

This is a good place to have a savings account if you just want to salt away some money and forget about it. This is a good account for people who may be tempted to take their money out instead of continuing to save. It pays 1.2 percent interest, which is as good as you can get today, though you can find higher rates with high-yield savings accounts. There is only a one-dollar minimum balance required. There are no fees, so basically you can have as much or as little in your account as you like with no penalty. The downside - which could be an upside really - is that there is no checking account attached. There is no ATM network and no mobile app. You have to have another account to transfer money in or out of this account. The good side of that is, it may prevent you from taking out money when you don’t really need to.


  • High interest paid
  • No fees
  • Not as user-friendly as some

Synchrony Bank

Synchrony Bank, another great provider of online savings accounts, also offers a great interest rate at 1.2 percent. It is also user-friendly, with the ATM card being good at three major ATM networks, meaning you can use it about anywhere. It can also be used in other countries. There is no minimum balance and no monthly fee. One advantage to this account is that it offers additional perks that could save you money. You can get things like discounts on car rentals and hotels when you save there. It is headquartered in Bridgewater, NJ., but you can do business with them by phone, online and by mobile app.


  • Good interest rate
  • ATM card can be used almost anywhere
  • Perks to save money


These savings account options can help you save money while earning interest in the process. Having a savings account can help people develop financial discipline, and it is a way to make sure you have some extra money. Online companies may offer the best deals because they are cheaper to operate. An online account offers some good benefits, such as higher interest rates, self-maintenance and access at any time you want. Online banking companies also offer superior electrnoics and mobiel apps, making them even easier to use.