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Best Savings Accounts for May 2019

Savings Accounts

A high-yield savings account is an essential tool to help you grow your savings with extremely low risk. A savings account is a great place to keep an emergency fund, and is also a great option for when you’re trying to save up for a big expense, like a car, a down-payment, or a vacation. When shopping around for a high-yield account, consider minimum deposit and balance rules and the annual percentage yield, or APY. The best account for you will be the one with the highest interest rate, low or no fees, and a minimum deposit that matches your savings.

Money Market Account

Money market accounts (MMAs) are a type of savings account that typically require a high minimum deposit. MMAs may have higher interest rates than savings accounts; however, with an MMA you’ll be limited to six transactions per month and MMAs aren’t insured by the FDIC or NCUA. Compare rates, pay attention to minimum deposit requirements and decide whether a high-yield savings account or MMA best suits your anticipated needs.

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TypeSavings Account
Min Deposit$1
Updated5/22/2019

2.10% APY

$1 Minimum Deposit

Details
  • FDIC Insured
  • No Fees/Minimum Balance
  • 24/7 Access
TypeSavings Account
Min Deposit$1
Updated5/22/2019

2.30% APY

$1 Minimum Deposit

Details
  • 24/7 online account access including live chat assistant
  • Move money quickly and access your funds using online transfers
  • Deposit checks via a photo for your mobile device with HSBC mobile banking
TypeMMA
Min Deposit$10000
Updated5/22/2019

2.00% APY

$10000 Minimum Deposit

Details
  • 360 Money Market®
  • One of the Nation's Top Rates Without Fees
  • Member FDIC
Rates / Annual Percentage Yield terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts, some of which have paid for a link to their website. Bank, thrift and credit unions are member FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.