How to find the best savings account, according to experts

Savers are in a great position to benefit today Rising interest rates — and they have plenty of options when it comes to maximizing those rates with competitive savings accounts.

High Yield Savings Account Online banks carry the highest interest rates today and have added features like no fees, flexible minimums and easy account access to help anyone. Increase their savings balance Over time and keep their money safe.

But with many different high-yield savings accounts Earnings of 4% to 4.5% or more, choosing the best one for you can seem daunting. To help you find the best account for your goals, we’ve gathered some expert tips for making the most of any savings account search.

Start by comparing today’s top savings rates here to see how much more you could earn.

How to find the best savings account

Here’s what experts recommend in your search for the best savings account today:

Do your research

First, start familiarizing yourself with the different options available to you — from recommendations online or from people in your life

“Do your research,” says Dan Heron, CFP, founder of Elemental Wealth Advisors. “I know it sounds obvious, but many people just open an account with the first provider they see. Do your research, ask your family or friends, and contact your advisor for their recommendations. You want to be comfortable with the place your money is. .”

Rather than losing out on potential by opening the first account you come across, research can help you become familiar with what your savings options really are. Use your current balance and your future savings goals to determine how high interest rates you can aim for, whether you should consider an account with minimum balance requirements, how to avoid fees, and more.

Start your search with some of today’s best savings account rates.

Look for specific details and features

Once you have an idea of ​​what’s available, you may want to take a closer look Features most important to you. While interest rates are important, they aren’t the only thing that can distinguish a great savings account.

“In addition to the interest rate, it’s a good idea to find out how easy it is to transfer cash from a high-yield savings account to a checking account,” says Kathy Curtis, CFP and founder of Curtis Financial Planning. Often, this is via electronic transfer but some banks also offer wire transfers or paper checks — and times can vary widely.

Other factors may include checking whether there is an ATM access option transfer limit and incidental fees.

Shop around and compare

After you’ve done your research to find out what’s available and what features you want from your savings account, you’ll be in a strong position to start comparing specific options.

“Make sure to shop around for rates on high-yield savings accounts, because there’s a wide range of what banks are offering,” says Trent Porter, CFP, founder of Priority Financial Partners. Many top accounts today earn at least 4% APY, but you can find plenty of high-yield savings accounts around 4.5% or more — and some accounts even earn up to 4.85% APY with no fees.

As you compare these different accounts, look for the one that gets you the combination of high yields and features that will help you meet your financial goals.

Curtis recommends looking at customer reviews for information about the bank’s services and how easy it is to navigate the online site or mobile app. This can be especially important for high-yield accounts Online BankAs they cannot provide the same personal attention as a brick-and-mortar bank.

Shop now for high-yield savings accounts with great rates here.

Bottom line

The best savings account for you can be a personal decision, but there are a few things one can consider to help narrow down the choices. The experts we spoke to recommend first researching your options (online and in person), looking for details on different accounts that make saving easier, and then comparing specific accounts. Find the best rate. Select one by following these steps High yield account Today can help you start saving early — and maximize high interest rates for as long as possible.