My opinion on savings accounts differs depending on the state of the economy. When the fed lowers rates then your money is basically losing value in savings accounts. When the fed raises rates then I’m ok with having a little money in there. with savings accounts raising their interest to 3% or more here are my three top savings accounts in terms of APY(annual percentage yield)
- American Express 3.3%
- Discover 3.3%
- Ally 3.3%
These are my three favorite. Discover and Amex integrate savings accounts and credit cards in the same app so if you own a card through one of those brands I would go with that company. If you aren’t interested in credit cards I would go with Ally Bank. It’s simple to use and you won’t have to worry about the temptation of credit cards through ads or automatic invitations via mail.
I keep track of all my savings accounts with Personal Capital