Banking
Get the full rundown on bank accounts, including the best picks for your money and essential education on checking, savings, and CD accounts.
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FAQs
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A bank is an institution where anyone (approved by the bank) can deposit savings and take out loans. Banks are often seen as a convenient and secure way to store money, and some account types also earn interest. Most banks have both online and in-person services.
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An online bank is a financial institution that takes deposits and makes loans online, without any physical branches.
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A credit union is a nonprofit financial institution that exists to serve its members. Unlike banks, credit unions are owned and operated by their members, with a focus on providing affordable financial products and services.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!
|
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
|
N/A
|
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.25%
Rate info
4.25% annual percentage yield as of July 2, 2024
Min. to earn: $1
|
N/A
|
Keep learning about banking
Recent Articles
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July 2, 2024 | By Dana George
How Much Money Should You Keep in Your Checking Account? Here's the Sweet Spot
It can be tough to determine how much money to keep in your checking account. Keep reading to zero in on how much you should aim for.
July 2, 2024 | By Devon Delfino
CD vs. HYSA: What's the Better Place for Your Savings Right Now?
CDs offer stability, while HYSAs are more accessible. Read on to learn which option makes the most sense right now, and why you should open it ASAP.
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Now could be a good time to say goodbye to your old bank. Read on to find out some top reasons why people make the switch.
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You Can Grow Your Savings by $2,000 This Year With 3 Moves
Want an extra $2,000 by the end of the year? Here's how to pull it off.
July 1, 2024 | By Chris Neiger
How Much Will $10,000 in Savings Be Worth in 10 Years?
Building a large sum of money is just the beginning. Read on to find out how to make your money grow.
July 1, 2024 | By Maurie Backman
This CD Hack Could Help You Avoid an Early Withdrawal Penalty
Don't get dinged for withdrawing a CD before it matures. Read on for an easy way to avoid losing money.
July 1, 2024 | By Christy Bieber
4 Things You Must Know if You Deposit $10K Into Your Bank Account
Moving large amounts of money around? Read on to learn how some rules under the Bank Secrecy Act could affect you.
July 1, 2024 | By Maurie Backman
3 Reasons to Open a CD in July
July is a great time to open a CD. Read on to find out why.
June 30, 2024 | By Devon Delfino
This Is How Much Money You Can Make With $5,000 in a CD Ladder
A CD ladder can be a great way to lock in high rates while still having regular access to your cash. Read on to learn how much you could earn with a $5,000 CD ladder.
June 30, 2024 | By Maurie Backman
Is a CD a Good Place for Retirement Savings?
A CD could be a good tool to use for retirement savings -- but only under limited circumstances. Read on to learn more.
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