Best Savings Accounts of November 2024
Best Savings Accounts of November 2024.
Opening a savings account is a great way to keep your money safe, take advantage of current interest rates, and ensure you have access to funds for emergencies. Right now, the best annual percentage yields (APY) for savings accounts are between 4.50 percent and 5.10 percent, with only a handful of banks offering rates of 5 percent or more. This is about nine times the national average, which sits at just 0.56 percent. Online banks often provide higher interest rates on savings accounts, giving you a better return on your deposits, as long as you meet any minimum balance requirements and are aware of any monthly fees. Just remember that savings rates can fluctuate over time.
Finance Monthly has rounded up the top 10 savings accounts for December 2024, highlighting the best options to maximize your savings. With annual percentage yields (APYs) ranging from 4.50% to an impressive 5.10%, these accounts significantly outperform the national average of 0.56%, offering up to nine times the return. Many of the top-performing accounts come from online banks, which consistently deliver higher rates to savers while maintaining competitive features. While these accounts can help grow your funds efficiently, it’s essential to consider any minimum balance requirements and fees, as well as the potential for fluctuating rates over time.
Best savings account rates
| Bank | APY | Minimum Deposit to Open |
|---|---|---|
| EverBank | 4.75% | No minimum |
| Bread Savings | 4.75% | $100 |
| Bask Bank | 4.65% | No minimum |
| CIBC Bank USA | 4.61% | $1,000 |
| Popular Direct | 4.60% | $100 |
| CIT Bank | 4.55% | $100 |
| UFB Direct | 4.31% | No minimum |
| Salem Five Direct | 4.25% | $10 |
| Capital One | 3.90% | No minimum |
| Citizens Access | 3.90% | $1 |
The annual percentage yields (APYs) listed were last updated between November 18 and November 22, with all other details accurate as of November 18. Finance Monthly's editorial team reviews and validates this information on a biweekly basis. Please be aware that APYs may have changed since the last update and could vary by region for certain products. Only FDIC-insured banks and NCUA-insured credit unions are included in these listings.
