Choosing the Best High-Yield Savings Accounts

High-yield savings accounts is a safe place to keep any sum of money while earning top interest rates. Online banks and credit unions don't have the expense of maintaining brick-and-mortar branches, so they can offer annual percentage rates of one percent or more. While one percent doesn't sound like much, the national average is .07 percent, and it adds up over time. Choosing a high-yield savings account can make the most of your money, providing financial growth with little to no risk. The three best high-yield savings accounts include Ally Online Savings, Discover Bank, and Alliant Credit Union. Read on to discover what you need to know about the best high-yield savings accounts.

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  1. What about customers who want to use a credit union instead of a traditional bank?
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    Alliance Credit Union is the best option for this scenario. They offer one of the best rates on both savings and checking without the narrow membership requirements that credit unions usually require.

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  2. What are the advantages of using Ally Online Savings accounts?
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    Ally has one of the best overall experiences for those interested in putting their money in a high-yield savings account. The bank's website and mobile app are easy to use, and there is real-time chat support. There is no monthly fee or minimum deposit requirement.

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  3. Do any of these financial institutions offer a sign-up bonus?
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    The only bank to offer a sign-up bonus is Discover Bank. This financial institution offers $200 to new customers who open a savings account and deposit at least $25,000.

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  4. What is the annual percentage rate at Ally?
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    The annual percentage rate at Ally is 1.45%. 

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  5. What are the advantages of using Discover Bank?
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    In addition to the sign-up bonus, Discover Bank does not charge any fees and there are no monthly balance requirements. Customer service is available 24/7 by phone, and the website and app are both easy to navigate.

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  6. What is the annual percentage rate at Discover Bank?
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    The annual percentage rate at Discover Bank is 1.50%.

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  7. What are the advantages of using Alliant Credit Union?
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    This credit union doesn't charge any fees with their high-yield savings accounts as long as customers choose to receive e-statements. They also offer high rate checking accounts and over 80,000 free ATMs. The app is really easy to use, especially for depositing additional funds into the savings account.

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  8. What is the annual percentage rate at Alliant Credit Union?
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    The annual percentage rate at Allianz is 1.45%, one of the highest available.

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