Savings Accounts That Actually Have Good Interest Rates

Savings accounts are typically the best place to put money if you're planning to save it. It has to do with the interest rates that differ between a checking account and a savings account! Why does this matter? When you put your money in a savings account, you're essentially lending that money to the bank holding the account. Because of this, you'll be paid interest based on the amount of money you've put in the account and the length of time that money is in it. When trying to find the right savings account with good returns, consider the bottom line when it comes to the account fees. Banks that only operate online usually have better rates because they don't have to maintain physical bank branches.

Search for the details on the best savings accounts available with great interest rates now.

Vio Bank High Yield Online Savings Account

Vio Bank's High Yield Online Savings account has one of the highest interest rates out there. This savings account has an impressive annual percentage yield (APY) of 1.50%. This savings account has a daily compound rate, which means your money will grow faster than if the compound rate was monthly or yearly.

Vio Bank requires an initial deposit of $100 to open the High Yield Savings account. Even though there's a minimum deposit to enroll, all funds deposited in the account are subject to the APYs. This account doesn't have any extra fees for incoming international or domestic wire transfers. There's no monthly fee to have this account, but it will cost $5 per month if you have 12 consecutive months without a single transaction. You can also send a domestic wire transfer from this account for $30.