That’s largely due to the Federal Reserve’s decision to increase the federal funds rate, which is the interest rate at which banks lend money to one another overnight. High-yield savings account rates were on a steady upward trend through 2022, and that upward trend has continued into 2023. Among high-yield saving account offerings, online banks tend to feature the best rates for savers. High-yield savings rates follow a similar trend for other deposit accounts, including money market and certificate of deposit accounts.
Today’s highest savings account interest rate is 4.07%. To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks. The online savings accounts must be nationally available to appear on this list. Minimum deposit requirements of $10,000 or higher affected scores negatively, as did high minimum balance requirements to avoid fees. We also considered whether there were complex tier structures or requirements to earn the APY or other stipulations to earn the APY. Here’s the weighting assigned to each category for high-yield savings accounts:
All of the accounts on our list are online-based high-interest savings accounts. We ranked each account on 12 data points within the categories of APY, fees, minimum requirements, customer experience and digital experience. To create a list of the best online high-yield savings accounts, Forbes Advisor analyzed 73 online savings accounts at 53 financial institutions, including a mix of traditional brick-and-mortar banks, online banks, and credit unions.
0 kommentar(er)
