Tuesday, March 5, 2024
HomeTrendingDecember 2023's top high-yield savings accounts

December 2023’s top high-yield savings accounts

UFB Secure Savings

Why we picked it

Because Axos Bank owns UFB Direct, an extensive, FDIC-insured financial institution supports the online bank. Across all balance tiers, the UFB Secure Savings Account offers an APY of 5.25%. In spite of having just one physical branch, it has received excellent client reviews on Trustpilot, the Google app, and the Apple app.

Who should use it

If you are comfortable with internet banking and want one of the best savings-account APYs in the market, UFB Direct is a wonderful choice.

Varo Savings Account

Why we picked it

With over 3 million customers, Varo is a digital-only bank that offers some of the highest rates for high-yield savings accounts in the industry. With an APY of 5.00% on balances up to $5,000 and 3.00% on amounts below that, the Varo Savings Account provides interest. To receive the best interest rate, you must set up recurring direct payments of at least $1,000 each month. Additionally, customers can apply for the Varo Believe card, a secured credit card that is intended to improve credit scores. Additionally, you might be eligible for fast cash loans of up to $250 (Varo charges a flat fee that varies based on the amount borrowed).

Who should use it

If you’d like a high annual percentage yield and have a few thousand dollars to save. Varo appears to be geared towards younger bank clients who need to raise their credit scores, prefer internet banking, and desire a high annual percentage yield.

Laurel Road High Yield Savings

Why we picked it

The digital banking platform Laurel Road is FDIC-insured and was purchased by KeyBank in 2019. Laurel Road has access to financial resources that some online banks do not because it is a part of a bigger banking organisation. Additionally, it offers a broader range of goods, such as loans, credit cards, and bank accounts. A monthly interest payment of 5.00% is available on all balances in the Laurel Road High Yield Savings Account. Interest is compounded daily.

Who should use it

If customers want a complete banking experience in addition to their high-yield savings account, Laurel Road is a suitable choice.

Garry is the talented and dedicated journalist behind the stories you read on our news blog. With a passion for uncovering the truth and a knack for storytelling, Gerry brings a unique perspective to the world of news reporting.


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