The 7 Best Banks for Savings Accounts of 2019 in USA

The first and most crucial role of a saving account is to help you in earning some savings by paying you the right amount of interest not by charging you. Many banks in united states charge more fees and pay very less interest amount to their customers in case you do not meet up to the specific requirement by the banks. The banks listed below are the good ones with higher interest rates and deficient chargeable fees, and such banks are just exceptional. So in this article, you will found information regarding various outstanding banks in order to maximize your savings and minimize your expenses.

Best Overall:

FNBO Direct

FNBO is an acronym for First National Bank of Omaha. It is the subsidiary of First National of Nebraska and is a privately held bank. The total asset value of the bank is $17 billion. This bank has total of 5000 employees working happily in it. The bank has locations in seven states majorly in Midwest. Through Midwest the bank operates in 107 branches. The very fantastic feature of this bank is that you can open your account here by just depositing $1 minimum deposit. Direct launched a nationwide campaign in order to make people aware of their online savings account in May 2007. FNBO offers an outstanding percent of APY. It is 2.10% currently. This bank follows both traditional bank managing as well as online bank managing. The bank is having mixed reviews on the matter, but if you really want to get higher interest, then you should probably go for this as FNBO is also a member of pop money which insures and promotes a smooth transaction. Quick and free transfers to your family as well as to your friends.

Best for Simple High Yield Savings:


Synchrony pays the highest interest rates all over the country. It pays an APY of 2.15, which makes it on the most top pay given banks. This is one of the top-rated banks for the bank for savings because of its impressive savings rates and FDIC insurance. If your primary motive is only to store all your cash in an account, then Synchrony is just for you as it provides reasonable interest rates on savings and scale is highest among all. Inspite of such significant savings the bank still contains some of the disadvantages and some people do not like this. The main reason behind the downside is its poor customer service, and Many customers gave bad reviews about bank regarding its poor customer handling. Not only this the bank also has a poor website and weak online banking system, and moreover there is only one branch of this bank which is in New Jersey. You can link your account with an online portal wherein you can easily access all your information easily, quickly and conveniently. Also, the bank does not charge any fees for the services provided by the bank irrespective of the higher savings rates offered.

Best for High Yield Savings Cash Deposits:

CIT Bank

This bank on a daily basis keeps compounding in order to increase up your potential. You can deposit your amount in the bank, and you can have access to all the information of the bank online through the app of the bank. There are no monthly service fees. You should have a minimum $100 monthly balance in order to open up your account and FDIC insured while in other banks the account opening balance is just $1 and this is 100 times more. CIT doesn’t offer a checking account, so you will need multiple banks to use this account. 

Best Customer Service:

American Express Bank

Through American express, you can open your account with 1.90 APY. American Express is an online bank. All the work operates online, so you will not be able to find any of the branches. The big downside for existing Amex customers is that the bank logins and systems are not linked to the credit card systems. Loans and investments are also part of American express bank. American express bank was initiated in 1921, and it comes under the world-class bank for travel as well as for the financial services. Their primary focus is to meet up to the needs of their elite clients. 

Values of American Express Bank Ltd

  • Trust
  • Integrity
  • Security
  • Quality
  • Customer service

American Express has a different card to meet their customer satisfaction. The card division of American Express bank is on topmost rank. There are various branches of American Express bank. It is more than a credit card company. American express bank is famous for giving high-yield savings account with excellent interest rates. The one good point about American Express is its unique customer support system. According to many people, American express phone support is available 24/7. The bank has two types of accounts, namely, High yield savings and Certificates of deposits. One thing that shall be kept in mind is that transfer shall be made every 6months per year.

Best for High Yield Savings & Checking:

Ally Bank

Ally is an excellent choice for all your banking needs as it offers unique and impressive interest rates, comfortable transfers, and a well-built website. You can quickly check all your accounts and by mobile phone and most importantly, the bank does not charge any monthly fees. One disadvantage is that in the online banks you cannot deposit cash; otherwise, ally has a perfect online and mobile system and is very well performed by all its users. The bank also offers ATM card that you can easily use for your transactions in all ATMs because of its checking accounts. Since the bank offers very impressive interest rates and a very well built website, this makes ally a perfect choice to fulfill all your banking needs, including checking accounts. 

Best High-Tech:

Capital One Bank

Capital one bank offers rates above the national average. Capital ones 360 is not a high yield account like all other banks. The main feature of Capital one bank is that you can open up 25 savings accounts in this bank and it can be done by only one account holder under same CIF number. Isn’t it refreshing to have 25 savings accounts in the same bank under just one name? The interest rate is given by capital one bank currently is 1.0 APY which is not so high like several other banks. But one of the unique features of capital one bank is that you do not need to have any minimum balance in order to open up your account in the bank like in all the other banks a person requires to have $1 minimum balance in order to open up their mind. City one bank is not located much in the places. It has only a few locations. Another cool feature of capital one bank is that you can quickly transfer the amount to kid’s party fund. Wedding fund, travel fund, or any other savings that you want to make. 

Best Wall Street Bank:

Goldman Sachs Bank

The account of goldman Sachs bank is straightforward even the procedure is also effortless, and you don’t have to pay any of the fees in order to maintain good customer relations. Golden sachs bank is a new entrant to the banking schemes. In golden sachs bank you cannot deposit cash but you can only save some money in order to earn a reasonable rate of interest on it. Through golden sachs bank, you can quickly transfer your funds from one account to another at a linked bank. You cannot interact highly with the bank but who needs to communicate with a bank when you have higher yield profits in your account. The bank goes by the name Marcus by Goldman Sachs bank. The APY of Marcus by Goldman sachs is 2.0 percent. It is an excellent source to store cash with outstanding interest. Marcus offers various account types namely, 

  • Online Savings Account
  • Several CD Options
  • Personal Unsecured Loans

It does not have any debit card for cash withdrawals. You can withdraw cash carefully without even using the card. Marcus offers unsecured loans ranging from $3500 and $40000. 


Thus it can be concluded that savings banks are a good way to earn good interest on your savings by simply storing your cash in your savings account. The above were some of the banks that are highly renowned and majorly preferred by the large public because of their higher yield interest rates, good customer care support and easy processing of account with no or very minimal deposit balance in order to open up your account. 

Before pooling your savings into any bank, you must once see and read carefully all the terms and conditions of the savings account, which will help you in making a better decision. After comparing all the terms of the various bank, you can open your account in your favored bank. Hope the article was helpful.!

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