Best Savings Accounts for May 2019
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.
$1 Minimum Deposit
- 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