At Quote States, you're always our top priority. We're committed to empowering you with the ability to make well-informed financial decisions confidently. While our website may not showcase every company or financial product out there, we take immense pride in the advice we share, the knowledge we dispense, and the innovative tools we develop. Everything we do is designed to be objective, independent, clear, and, importantly, free to you.
But how does Quote States sustain its operations? Simply put, we receive compensation from our partners. This compensation might influence which products we decide to feature and discuss, as well as their positioning on our website. However, this commercial relationship does not sway our recommendations or advice, which are rooted in extensive research. Our partners are not able to buy their way into favorable reviews of their products or services on our platform. For transparency, here's a catalog of our partners.
Updated: June 01, 2024, 10:20am
At Quote States, we’re proud to showcase a variety of products from our esteemed partners who provide us with compensation. This arrangement might shape our coverage regarding which products we discuss and the placement and presentation of these products on our site. Nevertheless, we maintain editorial integrity: our assessments and opinions remain unbiased and solely our own. For transparency, here’s a directory of our partners, along with an explanation of how we sustain our operations and generate revenue.
At Quote States, we're dedicated to guiding you through the financial landscape with a focus on maximizing your savings. Savings accounts are secure havens for your funds, safeguarded under federal insurance, ensuring your money not only remains safe but also flourishes over time. The crux of a high-quality savings account lies in its Annual Percentage Yield (APY) - the magic ingredient that fuels the growth of your savings. We're thrilled to showcase options boasting APYs as high as 5.27%, a rare find in today's market.
Why Quote States stands out: Integrity and transparency are the cornerstones of our platform. Our team adheres to stringent editorial principles, guaranteeing unbiased and thorough coverage. Our mission? To arm you with the knowledge to pick financial products that align seamlessly with your goals. Dive into our evaluation criteria to understand how we select banks and credit unions for our recommendations.
The landscape of savings accounts underwent a significant shift in 2022, with banks ramping up interest rates in a bid to counteract previous cuts amidst fluctuating economic conditions. The accounts we highlight aren't just any accounts; they're the cream of the crop, offering some of the most competitive rates available. Choosing one of these accounts means giving your emergency fund or savings goal a substantial boost, far outpacing the current average savings rate of just 0.46%.
APY Research Methodology: Our commitment to providing you with the most current and beneficial rates is unwavering. As of the latest update on this page, the APYs you see are meticulously verified each weekday, ensuring the rates you consider are as fresh as they come.
Remember, the APYs and additional details provided are accurate as of March 14, 2024, with all other insights updated as of March 1, 2024. At Quote States, we're not just about presenting options; we're about offering pathways to smarter saving and financial empowerment.
4.60%
$0
$0
None
SoFi (which stands for Social Finance, Inc.) began as a student loan refinancing company and has since expanded into a broad financial services company that offers a range of products, including bank accounts, loans, investments, insurance, and more. SoFi operates primarily online and does not have physical branches.
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found here
SoFi offers a savings and checking account combo—so when you sign up, you automatically get a checking account, too. With the SoFi savings account, you can score a stellar interest rate and welcome bonus.
The savings account offers a 4.60% APY and a $50 to $300 welcome bonus, depending on the direct deposit requirements you meet. You’ll also receive a debit card, so you can easily access your cash.
5.25%
$0
$0
$0
UFB Direct is an online-only bank and a division of the more widely known Axos Bank. It offers high-yield savings, money market accounts, and mortgages.
Customers can contact a customer service representative via telephone 24 hours a day, 365 days a year, or via secure messaging in their mobile banking app.
UFB Direct is known for offering competitive interest rates and fee structures due to lower overhead costs compared to traditional brick-and-mortar banks.
You can earn an impressive 5.25% APY with the Priority Savings account from UFB Direct. The account boasts no fees or minimum deposit requirements and comes with a complimentary ATM card.
Up to 5.00%
$0
$0
$0
Founded in 2015, Varo is an online-only bank offering products like bank accounts and a credit card.
While you can earn a 5% APY with the Varo savings account, you’ll need to jump through some hoops first. To earn the 5% APY, you must meet one of the following requirements:
Receive direct deposits totaling $1,000
Maintain a positive balance on your Varo bank account and savings account at the end of the month
If you need help with your account, you can get support via chat or phone call. Chat support is available Sunday through Saturday from 8 am to 4:30 pm MT, and you can give them a call Monday through Friday 9 am to 4:30 pm MT.
With the Varo high-yield savings account, you can earn up to a 5% APY on cash, but there are some requirements you’ll need to meet first.
In order to be eligible for the 5% APY, you’ll earn 3% for the first month and then you must either receive direct deposits totaling $1,000 or have a positive balance on your Varo bank account and savings account at the end of the month.
And for balances above $5,000, you’ll earn a 3% APY on any amount that exceeds $5,000.
5.00%
$10
$100
$0
Lending Club was founded in 2007 as an online bank. It offers products such as loans and deposit accounts.
If you ever need customer service help, you get in touch with customer support via phone call Monday through Saturday from 8:00 am to 8:00 pm ET.
With the LendingClub savings account, you can earn a 5% APY with few strings attached—you’ll only need to make a minimum opening deposit of $100 and then maintain a balance of at least $10 to earn the APY.
Plus, even though it’s a savings account, you’ll receive an ATM card to access your cash when you need it.
5.27%
$0.01
$0
$0
Founded in 1998, TAB Bank is an online-only bank with the mission of providing banking services to underserved individuals and businesses.
TAB Bank offers a high-yield savings account with 5.27% APY—11 times the national average. You only need $0.01 on deposit to earn this rate and there is no ongoing minimum balance requirement (or balance cap, for that matter). There are also no monthly fees.
TAB Bank offers a high-yield savings account with 5.27% APY—more than 11 times the national average. You only need $0.01 on deposit to earn this rate and there is no ongoing minimum balance requirement. There are also no monthly fees.
5.25%
$0.01
$0
$0
Newtek Bank is a division of the company NewtekOne. It offers various personal and business banking products such as checking and savings accounts.
At Newtek Bank, you can earn a hefty 5.25% APY on your savings and enjoy no minimum deposit or monthly fees. You’ll also get to skip pesky expenses such as service charges and transaction fees.
Since your Newtek savings account is fully online, you can easily check in on your savings via the online banking portal. Opening a new account is simple—all it takes is two minutes to fill out the necessary information.
5.28%
$0
$1
None
Western Alliance Bank is a regional bank headquartered in Phoenix, Arizona. It was established in 2009 and primarily offers commercial banking products and services. It operates in key markets across the U.S. and offers services such as commercial loans, treasury management, international banking, and more.
Despite being a regional bank, Western Alliance Bank allows individuals nationwide to take advantage of its high-yield savings account through the Raisin platform, a free digital savings marketplace that connects individuals to banks and credit unions offering various banking products. It provides a whopping 5.28% APY and a minimum opening deposit of only $1. To open this savings account, you must create a Raisin account (you can’t open one directly with the bank).
4.75%
$1
None
None
Milli is a mobile bank that specializes in offering high-yield spending and savings accounts. As a division of the First National Bank of Omaha (FNBO), it’s backed by more than 160 years of experience and is among the largest privately-owned banks in the country.
The customer service department can be reached via online chat or email at support@milli.bank. Hours of operation are 8 a.m. to 8 p.m. CST.
Milli is a mobile-only bank, meaning managing your Milli accounts is done from a mobile device, as there are no physical branch locations.
Milli’s high-yield savings account not only comes with zero fees or minimum deposit requirements, but also pays a respectable 4.75% APY. To help you better manage your savings, Milli also offers a “jars” feature, which lets you separate out your savings by goal.
5.26%
$0
$1
$0
Cloudbank 24/7 is a digital bank that’s backed by Third Coast Bank SSB, a community bank that operates in Texas. It specializes in providing online banking products with competitive interest rates.
The high-yield savings account from Cloudbank 24/7 offers a market-leading 5.26% APY with no fees and a very low minimum opening deposit of $1. It’s only accessible through Raisin, so you’ll need to create a Raisin account to get this rate.
5.26%
$0
$1
$0
Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets. It offers banking and loan services across Florida, Illinois, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island and Texas.
This savings account offers an impressive 5.26% APY and is accessible to all through the Raisin platform. To open an account, you’ll sign up on Raisin and then be able to handle everything from deposits, withdrawals, statements, and customer service online.
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