Mason jar piggy bank
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Here’s why you should never settle for just any savings account: The very best pay more than 25 times the average (0.09 percent APY).

Skip your corner bank and look to the best nationally available accounts, which could really boost your earning power.

The best savings account rate available to all savers is 2.27 percent APY. But there are more than two dozen banks that offer either savings or money market account rates as high as 1.8 percent APY.

Here are Bankrate’s picks for the best savings account:

Best savings accounts – November 2018

Compare the best savings accounts and pick the one that offers the right minimum balance and interest rate for your financial situation.

Differences among the best savings accounts

Notice many of these top offers come from online banks. Without the brick-and-mortar overhead, these banks may be able to offer more competitive rates.

Vio Bank

At the top of the list is Vio Bank. Its High Yield Online Savings account:

  • Pays 2.27 percent APY.
  • Requires a $100 minimum deposit.
  • Charges zero monthly fees.

Vio Bank is a new online division of MidFirst Bank, a financial institution based in Oklahoma City. MidFirst Bank earned four out of five stars in the latest review of its financial health.

Popular Direct

Next is Popular Direct. Its Plus Savings Account:

  • Pays 2.26 percent APY.
  • Requires a $5,000 minimum deposit.
  • Charges a $4 monthly fee when monthly balances fall below $500.

Popular Direct is an online division of Popular Bank, which was formerly known as Banco Popular North America or Popular Community Bank, a subsidiary of Popular Inc.

Northfield Bank

Northfield Bank pays a high yield, too. Its Platinum Savings account:

  • Pays 2.25 percent APY.
  • Requires a minimum balance of $0.01 to open an account.
  • Charges a $8 monthly fee when balances fall below $2,500.

Northfield Bank is based in Staten Island, New York. It was founded in 1887. It earned five out of five stars in the latest review of its financial health.

Calculate how much you stand to make with all these offers using our simple savings calculator.

Watch for changing savings account rates

Some banks have been gradually increasing interest rates in response to the Federal Reserve, which has increased its benchmark interest rate multiple times in recent months. The Fed hiked rates in September by a quarter percentage point. It’s anticipated that the central bank’s rate-setting committee will increase rates one more time in 2018.

Though this could mean you’ll pay more interest on credit cards and auto loans, it also could mean higher interest rates on savings accounts. Keep an eye out for the ripple effects of the Fed’s decisions.

In the meantime, if you’re looking for a guaranteed return, compare the best savings rates with the top CD rates.

Compare: Best savings accounts and rates

Bank/Institution APY Minimum to earn top yield
Vio Bank 2.27% $100
Popular Direct 2.26% $5,000
Northfield Bank 2.25% $0.01
MySavingsDirect 2.25% $1
Citizens Access 2.25% $5,000
Customers Bank 2.25% $25,000
CIBC Bank USA 2.16% $1,000
PurePoint Financial 2.15% $10,000
CIT Bank 2.15% $25,000
My eBanc 2.15% $25,000

Source: Bankrate.com

Note: If the minimum deposit is higher than the minimum balance required to earn the top yield, the minimum deposit is listed.