Savings accounts are an essential part of any financial plan. They provide a safe and easy way to earn interest on your money and save for future expenses. When choosing a savings account, the annual percentage yield (APY) is an important factor to consider, as it determines how much interest you will earn on your deposit. In this article, we’ll take a look at some of the best savings accounts available by APY.

1. Marcus by Goldman Sachs: This online savings account currently offers an APY of 3.30%. With no fees and no minimum deposit requirements, this account is a great choice for anyone looking to save money.
2. CITI High Yield Savings: This account offers an APY of 3.40%. It also has no monthly maintenance fees and no minimum deposit requirements, making it easy to start saving.
3. Synchrony Bank High Yield Savings: This account offers an APY of 3.75%. Like the other accounts on this list, it has no monthly fees and no minimum deposit requirements.
4. Ally Bank Online Savings: This account offers an APY of 3.30%. It also has no monthly maintenance fees and no minimum deposit requirements.
5. Discover Bank Online Savings: This account offers an APY of 3.30%. It also has no monthly maintenance fees and no minimum deposit requirements.

When considering these savings accounts, it’s important to keep in mind that APY can change over time. It’s also worth noting that these rates are based on a low-balance account. Some accounts could have different APYs based on your balance. It’s always a good idea to check the terms of an account and compare them to other options before signing up.

High-yield savings accounts offer safety in that they are FDIC insured up to $250,000 per account, so in the event of a bank failure you can rest assured that your money is safe.

Additionally, some banks may require you to open an account in person, while others can be opened online. And also some banks could have restrictions based on your residence state.

It’s also important to consider other factors when choosing a savings account, such as account fees, deposit and withdrawal limits, and customer service. However, when it comes to earning the highest possible return on your savings, accounts with the highest APYs are a great place to start.

I hope that this article has been helpful in guiding you in your search for the best savings account. Remember that saving is an important step in achieving your financial goals, and finding an account with a high APY can help you earn more on your savings.