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Best savings accounts for renters of 2023
Compare savings accounts. You have many options as a renter to pick the savings checking account for you. Roost looks at no fees, minimum deposits to open, the interest rate paid, app experience, and customer experience to recommend the best savings account for you.
Product details
- Axos High Yield Savings – All above plus
- $250 opening deposit requirement
- Free incoming wires
- Mobile app – real time alerts, biometric authentication and virtual assistants
- 4.4 stars average app rating
Terms and conditions
Bank products and services are offered by Axos Bank®. All deposit accounts through Axos Bank brands are FDIC insured through Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos The Annual Percentage Yield (APY) is accurate as of 1/12/2023. The interest rate and corresponding APY for savings is variable and is set at our discretion. This is a tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.
Bank products and services are offered by Axos Bank®. All deposit accounts through Axos Bank brands are FDIC insured through Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. For more information read Axos Bank’s FDIC Notice.
Product details
- All above plus
- No monthly fees or overdraft fees
- Auto savings feature with Chime card. Purchases rounded up to nearest dollar with the difference added to your savings account
- Must have Chime spending account to open Chime savings account
- 4.7 stars average app rating
Terms and conditions
The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of November 17, 2022. No minimum balance required. Must have $0.01 in savings to earn interest.
There’s no fee for Chime Savings Accounts. Cash Withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
The average national savings account interest rate of 0.21% is determined by FDIC as of November 17, 2022 based on a simple average of rates paid (uses annual percentage yield) by all insured depository institutions and branches for which data are available. Visit National Rates and Rate Caps to learn more.
Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your Savings Account. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your Savings Account.
Product details – Membership Share/Savings Account
- All above plus
- Earn interest on accounts over $50
- $5 to open an account
- Gain membership to Consumers Credit Union
- Other savings account options with higher min balance/deposits
- 4.1 stars average app rating
Terms and conditions
We offer over 30,000 surcharge-free ATMs nationwide and we refund fees charged by other bank ATMs when you meet your minimum Rewards Checking requirements. The top rate of our Rewards Checking account is 80X the national average based on FDIC’s published National Rate for balances <$100,000 for savings accounts. **Minimum $5.00 opening deposit required.
Product details – Savings Builder
- All above plus
- Requires $100 to open account
- Remote check deposits and transfers with mobile app
- No account opening or monthly service fees.
- Earn up to 1.00% APY* single deposit per month to earn our highest interest rate, plus one-time $100 minimum deposit to open the account.
- 4.6 stars average app rating
Terms and conditions
*APY — Annual Percentage Yield is accurate as of January 6, 2023. Interest Rates for the Savings Builder Account are variable and may change at any time without prior notice.
A Savings Builder account opened on October 15, 2022 and funded with an initial deposit of $12,000 would earn the Upper Tier interest rate during the Introductory Period, which begins on the account opening date and ends on the First Evaluation Day, December 27, 2022.
The First Evaluation Period for this account begins on November 26, 2022 and ends on the First Evaluation Day, Tuesday, December 27, 2022. With a balance less than $25,000, in order to continue earning the Upper Tier interest rate during the next Evaluation Period, the customer must make at least one deposit of $100 or more during the First Evaluation Period, November 26, 2022 through December 27, 2022.
Product details
- All above plus
- Automatic savings feature including round up transactions
- Remote check deposits from mobile app and real-time notifications
- 5.0% APY available for up to $5,000.00 if you meet certain requirements*
- Earn an additional 3.0% APY on any additional balance above $5,000.00
- 4.4 stars average app rating
Terms and conditions
Annual Percentage Yields (APY) is accurate as of December 1st, 2022. Rates may change at any time without prior notice, before or after the account is opened.
*The requirements must be met within the Qualifying Period, which begins on the first calendar day of the month and ends at close of business (4:25 pm MST/ 3:25 pm MDT) on the last business day of the month. Meet the requirements in the current month to qualify to earn 5.00% APY for the following month.
Qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits (such as Social Security or unemployment) from your employer or government agency. Tax refunds and government stimulus payments, Person-to-Person payments (such as Venmo), and funds deposited using a Varo routing number are not considered a direct deposit.
See the Varo Savings Account Agreement for full terms and conditions.
Product details – Citi Accelerate Savings Account
- All above plus
- App to help with goals, progress tracking and deposits
- $2.50 non-Citibank ATM if average monthly balance drops below $500
- Limit 6 transactions per cycle
- $4.50 monthly fee or waive the fee when you maintain an average monthly balance of $500+.
- By opening a Citi Accelerate Savings account in the Access Account package, you will get 3.40% APY.*
- 4.8 stars average app rating
Terms and conditions
Citi Accelerate Savings accounts are available in select markets. Applicant(s) who use a residential address in one of the following locations are eligible to apply to open a Citi Accelerate Savings account: Armed Forces America, U.S. Armed Forces — Europe, Alaska, Alabama, U.S. Armed Forces — Pacific, Arkansas, American Samoa, Arizona, Colorado, Delaware, Georgia, Guam, Hawaii, Iowa, Idaho, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Michigan, Minnesota, Missouri, Northern Mariana Islands, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virgin Islands, Vermont, Washington, Wisconsin, West Virginia, Wyoming and select markets in Florida and Illinois. For full terms and conditions please view the Client Manual and Marketplace Addendum or the Consumer Deposit Account Agreements page. To apply online, you must be a U.S. citizen or resident and at least 18 years old. You’ll need to provide a physical address in the U.S., date of birth and applicable identification documentation which may include a Social Security Number or ITIN. Your Citi checking or savings account will be opened within an account package that determines monthly service fees, interest rates, balance requirements, benefits and more. Please consult the Compare Citi Account Packages Chart for ways to avoid monthly service fees.
*Annual Percentage Yield (APY) is accurate as of 01/12/2023 and applies only to accounts opened through this website or by calling 1-800-374-9500. Rates are variable and subject to change before and after account opening. Fees may reduce earnings. We may assign the same interest rate to more than one balance range, but Citi reserves the right to apply an interest rate based on your account balance. Please see Marketplace Addendum for Account Balance Ranges for Interest Rate Calculations. Interest rates may vary depending on one or more of the following, Rate Region (determined by factors, which may include branch location or home (not mailing) address), Account Balance, Account Package Type.
Roost strives to keep its information accurate and up to date. This savings account information may be different than what you see when you visit a financial institution, service provider or specific product’s site. When evaluating savings accounts offers, please review the financial institution’s Terms and Conditions.