Best Savings Accounts 2020

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Whether you’re wanting to start up a nest egg, want to put some money aside for a goal, or you just want somewhere safe to keep your lump sum of money, then a savings account is always a good option.

Most modern savings accounts don’t just store your money for you – they also add interest and come with other convenient facilities. These facilities can include mobile apps, online banking, interest-free overdraft, and even automatic savings plans.

Keep reading to hear what we have to say about some of the most top-rated savings accounts in America.

If you want to check out some more in-depth reviews on the best savings accounts, then check out this article over at Crediful.com.

CHIME

Pros:

  • You get free access to over 38,000 ATMs
  • Deposit checks (and check deposits) on the mobile app
  • No monthly maintenance fees or overdraft charges
  • Can use Green Dot locations

Cons:

  • No branches

If you’re looking for a bank account that’s sure to make handling your finances easier, then CHIME may be the way forward with you.

With no monthly maintenance fees or overdraft fees, CHIME is one of the top banks in the country, and their savings account comes highly rated.

Although CHIME doesn’t have any physical branches or locations, it does have a super easy and accessible mobile app which is hugely popular amongst CHIME customers. With the mobile app, you can even deposit checks, which is ideal for the average on-the-go American.

You can use over 38,000 MoneyPass and Visa Plus Alliance ATMs all over the country, which is super convenient. If you want to use a non-group ATM, there will be charges – but the chances are there’ll be a group ATM within walking distance.

If you need to access a physical location, whether it be depositing cash or anything else, it can be done on Green Dot location.

The bank also has a promising 1.00% APY, which is a decent rate in comparison to some other savings accounts out there.

Synchrony

Pros:

  • VERY generous 2.25% APY interest rate
  • No minimum balance to worry about
  • Synchrony’s perks program
  • ATM fee reimbursements

Cons:

  • No checking accounts available

When you’re looking to put a sum of money away, you want an account that can help your savings grow. Synchorny’s 2.25% APY interest rate is pretty much unbeatable and is sure to do a great job of expanding your savings.

You can get started with Synchrony quickly and easily – and there’s no minimum balance to stress about, making the Synchrony Savings Account a perfect place to start building your nest egg.

There are no monthly fees, so nothing will be taken off your account – it’s only going to grow. Synchrony’s perks program is also a drawing factor – with free ATM fee reimbursements and travel discounts, which is super useful if you’re on-the-go.

Unfortunately, Synchrony doesn’t have any checking accounts – and with only one physical location (in New Jersey), it’ll take some time to transfer your funds into another account. This could be seen as a positive – you’re less likely to dig into your savings if it’s more effort to do so!

HSBC Direct Savings

Pros:

  • Very tempting welcome bonus of $125
  • Highly rated mobile app
  • Interest rate of up to 2.30% APY!
  • No monthly maintenance fees

Cons:

  • Other accounts with HSBC can come with maintenance fees

HSBC is a British bank that operates in over 80 countries, including America. It’s a highly rated bank and comes with many facilities.

The mobile app has an abundance of features – you can deposit checks quickly and easily, send money across to your friends almost instantly, and contact their great customer service team.

Interest rates are everything when it comes to savings accounts – and HSBC won’t let you down with their promising rate of up to 2.3% APY. You also get $125 just for joining, which is certainly tempting.

You can get started with a HSBC Direct Savings account easily – you just need at least $1 to get started. You can register either online or in a branch – as long as you have some form of photo ID, then the ball can begin rolling.

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