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 June 30, 2024
Min. to earn: $1
|
N/A
|
Keep learning about banking
Recent Articles
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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.
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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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CD Rates Over 5%? Don't Open One -- Do This Instead
A CD might seem like a great idea right now. But read on to see why you may want to go a different route.
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Is $100,000 Too Much to Have in Your Savings Account?
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June 29, 2024 | By Chris Neiger
Kiss 5% Savings Account Rates Goodbye When the Fed Cuts Rates
Lower savings rates are likely on the horizon. Read on to find out what you should do with your money once rates fall.
June 28, 2024 | By Steven Porrello
This Bank Account Offers a $300 Bonus and a 4.60% APY. Should You Sign Up?
Don't let this lucrative bank account offer expire. Learn why the SoFi Checking and Savings account is worth opening today.
June 28, 2024 | By Ben Gran
Why I Wouldn't Open a 6-Month CD -- Even With Rates at 5%
Want to know if a 6-month CD is a good deal? Here are a few possible downsides -- and why the best savings accounts could be better.
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