Top 3 Savings Accounts Guide & Honorable Mentions: What Benefits and Services to Look For

Savings accounts are always great to have as they provide a safe, secure, federally-insured place to put your money, AND they accumulate interest over time. There are plenty of traditional banks, online banks, and various credit unions that offer savings products. In addition to a regular savings account, there are also money market accounts and Certificates of Deposits. Where should you put your money? Here are the top 3 savings accounts to choose from right now.


Varo is a high-yield savings account provider that offers many generous perks. For example, a starting 0.81% APY, no minimum balance required for opening an account, automatic savings tools, and even the opportunity to earn up 2.80%.

There are a few requirements for earning up to 2.80% APY, such as making five or more qualifying purchases with the Varo debit card and receiving $1,000 or more qualifying total direct deposits.

There are no fees to worry you.

Alliant Credit Union

We should mention at least one credit union in a list of the top 3 savings accounts. Alliant promises to help customers build their savings with rates 7x more than what the average bank offers. Those who select paperless statements have 0 monthly service fees.

It just takes $5 for the initial deposit, and from there, you can earn more on as much money you want as there is no maximum balance limit. It’s easy to access your account from anywhere, thanks to Alliant Mobile Banking. Services are available 24/7.

The NCUA will federally insure your money.

CIT Bank

This online bank offers very competitive yields on its CD and savings accounts. In recent months, the savings APY % has averaged around .45 – .50. While it might not be as high as some others, it’s still great in terms of customer service and overall value.

Savings accounts come with 0 fees, and the CD accounts carry no penalties. You also don’t have to worry about any maintenance fees, regardless of what kind of account you choose. There is the benefit of daily compounding interest to help you maximize your earning potential.

Other Noteworthy Options

While the following does not fall under the “top 3 savings accounts” list right now, they are still worth mentioning:

  • American Express National Bank
  • VIO Bank
  • FNBO Direct
  • Citizens Access

Out of all of the options of the top 3 savings accounts and honorable mentions, CIT Bank overall is where you might want to start your research. It is a very financially-stable bank that offers some of the best rates and customer service in the industry.

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