The best banks for savings accounts

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Best in-class products: Best banks for checking accounts | Best banks for savings accounts

All of the best banks for savings accounts have one thing in common: They’re primarily online banks. Capital One does have a brick-and-mortar presence. But more than half of the rest of the banks on this list are online divisions of brick-and-mortar banks. Online banks typically offer higher annual percentage yields (APYs) because they usually have lower operational costs by not having physical branches. Of course, online banks also need a way to attract deposits since they don’t have a physical presence. So high APYs, low minimum balances and a great mobile app are ways some online banks get savers’ attention.