Banking
Get the full rundown on bank accounts, including the best picks for your money and essential education on checking, savings, and CD accounts.
Dive deeper into our banks library
Start comparing banks
The Motley Fool's top banking resources
FAQs
-
A bank is an institution where anyone (approved by the bank) can deposit savings and take out loans. Banks are often seen as a convenient and secure way to store money, and some account types also earn interest. Most banks have both online and in-person services.
-
An online bank is a financial institution that takes deposits and makes loans online, without any physical branches.
-
A credit union is a nonprofit financial institution that exists to serve its members. Unlike banks, credit unions are owned and operated by their members, with a focus on providing affordable financial products and services.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.20%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.00%
Rate info
4.00% annual percentage yield as of November 5, 2024
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.00%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Oct. 23, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
|
N/A
|
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
Keep learning about banking
Recent Articles
View All Articles
Nov. 5, 2024 | By Lyle Daly
3 Savings Accounts That Will Earn You More Than a Wells Fargo Account
Wells Fargo savings accounts don't pay much interest. Check out three high-yield savings accounts you could use to earn more from your money.
Nov. 5, 2024 | By Matt Frankel, CFP®
The Federal Reserve Could Give Savers Good News in November -- Here's Why
Rate-cut expectations have come into focus lately, and they could be good news for people with savings accounts. Find out more here.
Nov. 5, 2024 | By Matt Frankel, CFP®
3 Reasons You Should Open a High-Yield Savings Account Right Now
A high-yield savings account can be an excellent financial tool. Here's why you should finally make the switch.
Nov. 5, 2024 | By Ashley Maready
3 Great CDs to Check Out in November 2024
CD rates are still high -- but expect them to fall over the coming months. Read on for three picks to lock in a competitive rate this month.
Nov. 5, 2024 | By Brittney Myers
Why I'm Choosing High-Yield Savings Accounts Over CDs Right Now
CDs can lock in your rates and grow your savings, but they aren't ideal for every situation. See when to consider a savings account instead.
Nov. 5, 2024 | By Lyle Daly
This Is How Much Money You Can Make With $50,000 in a High-Yield Savings Account
A high-yield savings account is a great way to grow your savings. Discover how much passive income you could earn with $50,000 in one of these accounts.
Nov. 5, 2024 | By Kristi Waterworth
3 Reasons to Open a CD in November
November is the gateway to the holiday season, but it's also a great time to secure some passive income with a certificate of deposit. Learn why here.
Nov. 5, 2024 | By Steven Porrello
These 3 Savings Accounts Will Earn You More Than Capital One's 4.00% APY
You don't have to settle for a 4.00% APY. Learn which high-yield savings accounts have the best rates we've found today.
Nov. 3, 2024 | By Kailey Hagen
2 Important 2025 Banking Changes Everyone Should Know About
Saving and borrowing money is going to look a lot different next year. Here's what to expect.
Nov. 3, 2024 | By Maurie Backman
3 Pitfalls of 5% CDs Everyone Should Know About
You might think higher CD rates are a good thing. Read on to see why you're at least somewhat wrong.
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Bank of America is an advertising partner of Motley Fool Money. Discover Financial Services is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Axos Financial, Bank of America, Goldman Sachs Group, JPMorgan Chase, Target, and U.S. Bancorp. The Motley Fool recommends Barclays Plc and Discover Financial Services. The Motley Fool has a disclosure policy.