Savings

Bankrate helps you find the latest deals on savings accounts and learn strategies to maximize your yield.

Savings Rate Icon
High-yield Savings Account Rates
Calculator Icon
Savings Calculator
Money Bag Icon
Money Market Rates
Rates Up Icon
Savings Interest Rate Trends
Bank With Star Icon
Bank Reviews

Explore savings basics

A woman does her budgeting.

How much should I save each month?

The amount of money you should save each month will vary based on your goals. Here’s what to know.
By Miranda Marquit
Woman working with business document and laptop on the table

7 low-risk ways to earn higher interest

It’s a low interest rate environment, but there are ways to earn more on your money.
By Karen Bennett
7 min read
Close up of someone hands holding and counting American dollar banknotes in her hand

7 top reasons to save your money

Most people know they should be saving a portion of their income, but they might not grasp all of the benefits of doing so. Saving is an important habit to get into for a number of reasons — it helps [...]
By René Bennett
6 min read

Build good budgeting habits

TRY THIS

52-week money saving challenge

Follow this plan of making weekly deposits into your bank account, and you could save $1,378 by the end of the year.

Arrow Right Icon
SAVINGS

Bank accounts with budgeting tools

Choose a bank account that helps you develop healthy spending habits with built-in digital budgeting tools.

SAVINGS

Ways to save money on a tight budget

Even on a limited budget, small intentional changes can go a long way to help you build a savings cushion and have greater peace of mind.

Image for Best money-saving apps
SAVINGS

Best money-saving apps

Read up on top available rates and national average trends over time from Bankrate’s weekly survey of banks and credit unions.

Arrow Right Icon

Experts in all things banking

Our expert writers and editors bring you timely news and reliable information - backed by data and first-hand experience.

About Bankrate's team
Greg McBride

Greg McBride, CFA Arrow Right Icon

Chief Financial Analyst

Sarah Foster

Sarah Foster Arrow Right Icon

Principal U.S. Economy Reporter

Mark Hamrick

Mark Hamrick Arrow Right Icon

Senior Economic Analyst

See how much your savings can grow

Bankrate can help you capitalize on the current high interest rate environment. Enter your expected contributions and APY to see how much interest your savings could earn over time.

Learn more
  • Introduction to Savings Accounts
A woman works on her laptop.

What is a savings account? Definition, how it works

Here’s everything you need to know about savings accounts.
A young man imagining a piggy bank made out of cash. Looks slightly like origami

How to open a savings account: 5 steps to take

Ready to open a savings account? Here’s what you’ll need to know.
Woman sitting outside of restaurant looking at cell phone

How to start saving (even if you’re starting from scratch)

Getting into the habit of paying yourself first is hard. Here are some ideas to help you start.
Person on laptop computer

Here’s everything savers need to know about APY

The APY percentage shows how much an account earns per year. Here’s what you need to know.
Woman using smart phone on wall

10 types of savings accounts: Where to save your money

The best account to save your money will vary by your goal.
A student withdraws cash at an ATM.

Can you spend from a savings account?

There are ways to access your money and ultimately spend it. Here’s how.
Placeholder image

Best High-Yield Savings Accounts

Latest articles

Senior couple sitting at the kitchen table looking at digital tablet and recalculating their expenses.

Here’s why savers should find an APY that surpasses the rate of inflation

Consider a savings account with an APY above the inflation rate.
Dec 18, 2024
Easy mornings and working from home for this couple

Top high-yield savings accounts are still beating inflation. Here’s why that’s important

Savings yields topping inflation could let you hold onto your purchasing power.
Dec 18, 2024
A woman shopping during the holiday season.

Are Christmas club accounts still a good idea?

These holiday savings accounts are still available at many small banks and credit unions. But are they the best way to save?
Dec 18, 2024
sleeping child and grandma rest on travel adventure for family bonding

Saving money for your grandchildren: Best ways to get started now

Saving for your grandchildren can help to minimize the financial burdens they face down the road.
Dec 16, 2024
A Gen Z woman counting cash next to a laptop

Gen Z’s unique money mindset and approach to financial wellness

Navigating the world of personal finance is daunting, but it’s particularly so for Gen Zers.
Dec 13, 2024
Financial manager meeting with couple in bank branch office

National average money market account rates for December 2024

Get the latest rates on top-yielding money market accounts.
Dec 12, 2024
Whimsical illustration of a hand putting a quarter into a miniature but realistic high end safe. As if it were a piggy bank

What is the average interest rate for savings accounts?

Comparing savings rates can ensure you get the best return on your savings.
Dec 12, 2024
Whimsical illustration of a hand putting a quarter into a miniature but realistic high end safe. As if it were a piggy bank

What is the average interest rate for savings accounts?

Comparing savings rates can ensure you get the best return on your savings.
Dec 12, 2024
Man working on laptop and drinking coffee

6 best money market funds in December 2024

Money market funds are available from several different brokers and fund managers.
Dec 02, 2024
A man researches online.

5 reasons to get a money market account

Looking for a place to park your savings? Here’s why a MMA might be appealing.
Oct 07, 2024
A young woman researches on her phone at a cafe.

Are money market accounts safe? Here’s what you should know

Short answer? Yes. Here’s what you need to know.
Oct 07, 2024
Woman using mobile phone at the bar

Money market account vs. money market fund: Differences

These accounts sound similar, but there are some key differences to know.
Sep 30, 2024
Asian women using laptop computer at home working space.

Short-term CD vs. long-term CD: Which is best for you?

CD terms can range from three months to five years. Learn which one is right for you.
Sep 30, 2024
A young female researches on her phone.

No-penalty CDs: What they are and how they work

Here’s everything you need to know about no-penalty CDs.
Sep 20, 2024
Woman online banking with a tablet

Regulation D and savings account withdrawal limits – here’s what changed

How Reg. D impacts your savings account and why it pays to check with your bank.
Sep 03, 2024
A guide to mutual funds

A guide to mutual fund investing

Not sure how to get started investing with mutual funds? We’ll help you understand the basics.
Sep 01, 2024
Young Asian woman using smartphone while relaxing on armchair, checking her bank account via online banking and managing her finances. Online personal banking. Wealth management. Digital banking habits. Smart banking with technology

Here are the benefits of opening a CD right now following the Fed’s rate cut

Know the two major benefits of opening a CD now, even as interest rates decline.
Dec 18, 2024
Young couple managing finance and investment online

Interest rates on top-yielding CDs are dropping. Here’s what that means for savers

There’s still time to lock in a high-yielding CD as the Fed cuts rates.
Dec 18, 2024
Senior couple sitting at the kitchen table looking at digital tablet and recalculating their expenses.

Here’s why savers should find an APY that surpasses the rate of inflation

Consider a savings account with an APY above the inflation rate.
Dec 18, 2024
Easy mornings and working from home for this couple

Top high-yield savings accounts are still beating inflation. Here’s why that’s important

Savings yields topping inflation could let you hold onto your purchasing power.
Dec 18, 2024
Man working on laptop and cellphone simultaneously

Even after three rate cuts, it’s still a good time for long-term CDs

If you’ve been thinking of getting a longer-term CD, you may want to make a move.
Dec 18, 2024
Cropped shot of a businessman using his computer in his home office

Which CD term is best in a lower rate environment?

Find out which CD term is best for your financial goals in a lower rate environment.
Dec 18, 2024
Federal Reserve Eccles Building illustration

Fed’s interest rate history: The federal funds rate from 1981 to the present

The key benchmark has been as high as 20 percent — and as low as 0 percent.
Dec 18, 2024
Fed Chair Jerome Powell speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing.

The Fed has now cut interest rates three times. Here are 12 key money moves to make

Rate cuts mark a new era for the Fed. Here’s what you should do as a consumer.
Dec 18, 2024
The trusted provider of accurate rates and financial information
Wall Street Journal
Usa Today
New York Times
Cnn
Bloomberg
Abc