Best Savings Account Rate: TAB Bank High Yield Savings Account
If your aim is to save as much money as possible, there are few savings account on the market that are better than TAB Bank’s High Yield Savings account. The hallmark of this account is its 2.40% APY, which significantly outpaces the average savings account and can really grow your money.
Another point in this account’s favor: You only need to maintain a $1 balance to gain access to the aforementioned 2.40% rate. That’s in contrast to some accounts which require you to maintain a high minimum balance to get their top rate. There’s also no monthly fee associated with this account, so every bit of interest you earn will stay in your pocket.
Most customers at TAB Bank will manage their account balances through either its website or mobile app, as the bank has just one branch (in Ogden, Utah). TAB has done a masterful job of creating its Apple and Android mobile offerings, as users have rated them an average of 4.7 stars between the two competing app stores. Features available via this platform include full balance and transaction histories, inter-account and outside account money transfers, mobile check deposit and online bill pay. The High Yield Savings account in particular does not come with a debit card.
Unlike some other online banks, TAB has a full range of banking products available for its customers. So if you’re interested in more than just a savings account, you can choose from a selection of checking accounts, certificates of deposit (CDs), money market accounts and other savings accounts here. For the most part, each of these TAB accounts have strong interest rates in comparison to the rest of the market and do not come with monthly fees or tough-to-meet minimums.
If you are looking to learn how you can maximize the return on your investment with your bank's products we have you covered. Read more about this topic in our eBook, What are my options for saving and growing money through my bank.