With the fed raising the interest rate as the economy improves you can be sure to find higher interest rates in savings accounts too. But where can you find the highest interest rates for 2017? Check out my top three picks below
1- Ally Bank
Ally Bank has one of the best interest rates around these days at 1.05% APY. They’re also ranked as one of best online savings account experience around.
There’s no monthly fee or minimum deposit requirement at Ally Bank either. They have a great mobile app that you can use to deposit checks on the go which makes things very convenient.
Another plus from Ally is their support. If you need help with something you’ll find it around the clock. They have a toll free number you can call within the US, and they also have a number for you to use when you’re out of the country. If you prefer to chat with someone online then you can do that too as they’re one of the few that offer this option.
2- Barclays Bank
Matching Ally Bank’s interest rate, Barclays Bank also stand at 1.05% APY. One of the best rates you can find around these days.
They also have no monthly fee or minimum deposit requirement. They’re relatively new to the US market, but they’ve been in England since 1690 so I’d say they have a pretty good track record.
Barclays does offer customer service by phone, but some have said that Ally Bank beats them out in this category. Barclays Bank is available seven days a week, 8AM to 8PM ET.
3- Synchrony Bank
Synchrony Bank rounds out the top three with a matching 1.05% APY. On top of that they also offer a rewards program you can use to get more out of your savings account with them. You’re automatically enrolled when you open an account.
There’s no minimum balance or monthly service fee here either. You’ve also got easy withdrawals online, by phone or ATM card
Synchrony does have customer service by phone, but it’s only open Monday-Friday 8AM to 10PM ET and Saturday 8AM to 5PM ET. Less time open than the other two banks, but still a respectable amount of availability.
Quit thinking so much and just sign up
In the end, really, you can choose any one of these three banks and you’ll be doing better than most of the other people and their savings accounts. Rates change of course and you should check the current rates at each site to make sure which is best.
Don’t hesitate though if you don’t have a savings account with a yield of at least 1%. You should be taking advantage of the best rates available to you. There’s no reason why you can’t have multiple bank accounts open, I do.
Sometimes that’s what you need to do in order to find the best rate and keep it that way. I have a few different accounts open where I move money around every now and then when rates change. You can do everything online and it’s all very easy to do.