When you have a savings account, you can manage your money better than if you only have a checking account. And when you get a savings account with a signup bonus, you can give your savings a much-needed boost.
Here are the 10 best bank deals currently offered. Whether you are opening your first savings account, adding another account or switching banks, these are some of the best savings account options.
|10 Best Savings Account Promotions Available Now|
|Savings Account||Min. Opening Deposit||Monthly Fee||Promotion Details|
|Regions Bank LifeGreen Savings||$50||$0||1% annual bonus up to $100 for setting up monthly automatic transfer of at least $10 from checking account for 12 calendar months|
|Citizens Bank College Saver||$25 if before 6th birthday; $500 if between 6th and 12th birthday||$0||$1,000 bonus when child turns 18 by opening account before child’s 12th birthday and saving monthly minimum|
|Amboy Direct eSavings||$100||$0||$50 bonus for new eSavings clients for maintaining $3,000 minimum balance for 3 months|
|US Bank START Smart Savings||$25||$0||$50 reward for reaching savings goal within 12 months of enrollment|
|BBVA Compass Build My Savings Account||$25||$0||1% match (up to $50) of your total transfer amount for a 12-month savings plan|
$25 match on a 6-month savings plan
|SunTrust Bank Select Savings Account||$25||$7||Annual 1% bonus up to $25 on anniversary if linked to checking account|
|EverBank Yield Pledge Money Market||$5,000||$0||1-year, 1.11% APY offer for first-time money market clients on balances up to $250,000|
|Chase Bank Chase Savings||$25||$5||$150 for new customers with $10,000 or more in savings account within 10 business days (must maintain $10,000 balance for 90 days)|
|Charles Schwab High Yield Investor Saving||$0||$0||$100 bonus for new Charles Schwab customers; credit applied within one month of opening account|
|CIT Bank High Yield Savings Account||$100||$0||1.05% APY and up to $400 cash bonus for opening a new account by June 30, 2017|
Regions Bank LifeGreen Savings
Set up automatic transfers from your checking account to your savings and earn rewards. You’ll get a 30 percent discount on one safe deposit box rental at a local branch, have access to free online statements, and earn a 1 percent, annual savings bonus of up to $100 with Regions’ promotional offer.
Citizens Bank CollegeSaver
Earn rewards on an account that will grow along with your college-bound student. You’ll get a $1,000 bonus plus interest when your child turns 18 if you open the account before his 12th birthday and make a $25 to $50 deposit every month. In addition, you can set up automatic transfers from a checking account with the Steady Save program. You’ll also have access to more than 1,100 Citizens Bank branches and more than 3,100 nationwide ATMs.
Related: 10 Best Student Savings Accounts
Amboy Direct eSavings
Earn a $50 bonus when you maintain a $3,000 minimum balance for three months. You can transfer funds from a non-Amboy checking account and enjoy all the benefits. You won’t pay any monthly fees or have minimum balance requirements, and you’ll be able to make free online transfers and schedule automatic transfers to your account.
U.S. Bank Start Smart Savings
Open a Silver Checking Package and link it to a Package Money Market Savings account to earn rewards while you save. Transfer money from your checking account online or through the mobile banking app and earn a $50 reward for reaching your savings goals within 12 months of enrolling — plus a 1 percent debit card bonus of up to $50 for all gas and grocery purchases.
BBVA Compass Build My Savings
BBVA keeps tabs on your goals and rewards you for reaching them, which might help you stick to your budget. When you reach your goal, BBVA will match 1 percent of your total transfer amount, with a maximum of $50 for a 12-month savings plan and $25 for a six-month savings plan. You’ll also earn 0.05% APY on your daily balances.
SunTrust Bank Select Savings
Get motivated to save with a 1 percent anniversary bonus of up to $25 when you link your SunTrust Select Checking or Signature Advantage Checking account to your Select Savings account. Set up automatic transfers to build your savings and avoid monthly maintenance fees by maintaining a $1,000 minimum daily balance or by setting up an automatic $25 transfer from a SunTrust checking account.
EverBank Yield Pledge Money Market
Take advantage of this money market account’s one-year introductory rate offer to get a head start on your savings goals. You’ll earn 1.11% APY for the first year on balances up to $250,000, and you’ll pay no monthly fees. Use the free mobile check deposit feature to easily transfer your funds to an IRA when you’re ready.
Chase Bank Chase Savings
To earn a $150 bonus, open a savings account as a new customer, deposit at least $10,000 within 10 business days and maintain that $10,000 balance for at least 90 days. The monthly, $5 service fee will be waived if you keep a minimum daily balance of $300 or more, set up an automatic transfer of at least $25 from your Chase checking account or link your savings to another Chase account. Take advantage of free mobile banking, 24-hour customer support and access to 16,000 ATMs.
Charles Schwab High Yield Investor Savings
Although you might be able to get a high-yield checking account rate, a high-interest savings account might be a better option. With this Schwab account, you’ll earn 0.30% APY on your balance and get unlimited fee rebates when you use any ATM worldwide. There’s no account minimum requirement or monthly service fees to worry about, and you can use the mobile app to keep track of your funds on the go.
CIT Bank High Yield Savings
Open a CIT high-yield savings account and watch your money multiply with interest rates of up to 1.05% APY. You’ll maximize your earnings with daily compounding on your balance, and there are no account opening or maintenance fees. You’ll also get up to a $400 cash bonus if you open your account by June 30, 2017, and maintain a $15,000 average monthly balance for three statement cycles. Take advantage of free online banking services to keep track of your savings contributions and account balance
GOBankingRates.com identified the best savings account promotions available as of May 3, 2017, by analyzing minimum opening deposit amounts, monthly fees, rewards and offers. All fees and rates are subject to change at the financial institutions’ discretion, and some bonus offers might no longer be available on the credit card issuers’ websites, depending on how you access the web page.
GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article.