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 7, 2024
Min. to earn: $1
|
N/A
|
Keep learning about banking
Recent Articles
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July 7, 2024 | By Christy Bieber
You Should Move Some Money Out of Your Savings Account by 2025. Here's Why
High-yield savings accounts have variable interest rates. Learn why expected rate cuts in 2025 may make it a good idea to move some money from savings to CDs.
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July 7, 2024 | By Steven Porrello
3 Reasons Not to Open a High-Yield Savings Account, Even With Rates at 5.36%
The best high-yield savings accounts have few fees and high rates, but they're not right for everyone. Learn why you shouldn't open one.
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Planning for retirement is a huge undertaking. If you've managed to put away $500,000, see how much you can expect to spend in retirement.
July 6, 2024 | By Kailey Hagen
5 Bank Account Bonuses You Can Get With $1,000 or Less in Deposits
Bank account bonuses that require thousands of dollars are out of reach for many. Here are five that are a lot easier for the average person to achieve.
July 6, 2024 | By Chris Neiger
5 Ways Boomers Get Rich in Retirement
Retirees can continue to build wealth even post-work. Read on to discover a few ways to do it.
July 6, 2024 | By Kristi Waterworth
3 Reasons I Will Never Put Money Into a CD
CDs aren't for everyone -- and they're certainly not for me. Here are several reasons why they make no sense for someone like me.
July 6, 2024 | By Maurie Backman
Should You Open a 5-Year CD in July 2024?
A 60-month CD may not have the most competitive APY. But read on to see why it could still be a good choice this month.
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