Everyone needs emergency funds and some savings for future use. Therefore, having a high-yield savings account can be a great choice. The following 5 savings accounts we have found are recommended for you to consider.

Affirm, Savings Account (1.30% Annual Percentage Yield / APY

This savings account is only accessible and available through the Affirm mobile app. You can use any amount as the initial deposit and ongoing balance. No monthly service fee is required. No ATM card is offered. Notice that you cannot open checking accounts, and certificates of deposits are not available.

Customers Bank, The Ascent Money Market Savings Account (1.25% APY)

This account requires $25,000 as the minimum initial deposit but no monthly maintenance fees. It you want to earn a stated APY, you will have to pay another $25,000 as the minimum ongoing balance. You may open a checking account, but you can only do so with the linked Ascent Money Market Savings Account. Pay attention that the accounts provide no privileges for check-writing.

Citibank, Accelerate Savings Account (1.05% APY)

The Citibank Accelerate Savings account requires no minimum initial deposit and minimum ongoing balance and it offers ATM cards, mobile check deposits as well as checking accounts. The account generally charges you $4.50 per month as the service fee, but you can avoid the fee by keeping the average balance above $500. One thing to caution: this account may not be available in all zip codes. People in California and New York may not get the account.

CIBC USA, Agility Online Savings Account (1.05% APY)

The Agility Savings Account entails $1,000 to open the account, yet you do not need to consider minimum ongoing balance or monthly service fees. The account balance cannot go over $1,000,000. No ATM card or mobile check is available, but you may get checking accounts and certificates of deposits.

Vio Bank, High Yield Online Savings Account (1.01% APY)

Vio Bank, founded in 2018, is the national online branch of MidFirst Bank. You will need $100 to open an account. No maintenance fee per month is charged. All balances can receive the APY. You cannot receive ATM cards or open a checking account, but mobile check deposits and certificates of deposits are available.

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