In 2024, high-yield savings accounts (HYSA) are an excellent way to grow your savings with minimal risk. Many of these accounts offer attractive interest rates with no monthly maintenance fees. Here’s a list of the best options available this year:
1. Ally Bank High-Yield Savings Account
Ally Bank consistently ranks as one of the top choices for high-yield savings. They offer an APY (annual percentage yield) of up to 4.00% with no monthly fees or minimum balance requirements. Ally also provides easy-to-use online banking and 24/7 customer support.
2. Marcus by Goldman Sachs
Marcus offers a competitive APY of 4.15%, with no fees or minimum balance requirements. Their online platform is simple to use, and you can easily transfer funds between accounts. It’s ideal for those looking for a straightforward savings option.
3. Discover Bank Online Savings Account
Discover’s high-yield savings account offers an APY of 4.00%, with no monthly maintenance fees and no minimum deposit. Discover also provides 24/7 customer service and a user-friendly online banking platform.
4. CIT Bank Savings Builder Account
CIT Bank offers a unique Savings Builder account with a high APY of 4.15%. There are no monthly fees, but to earn the highest rate, you need to make a monthly deposit of at least $100. It’s a great option for those who can commit to regular contributions.
5. Synchrony Bank High-Yield Savings Account
Synchrony offers an attractive 4.00% APY with no fees and no minimum balance requirement. This account also comes with ATM access for easy withdrawals, making it convenient for those who want quick access to their funds.
Conclusion
High-yield savings accounts offer a great way to grow your savings in 2024. Look for accounts with the highest APYs and no fees to maximize your returns. Ally, Marcus, Discover, CIT, and Synchrony are top contenders for anyone looking to earn more interest with zero fees.