Savings

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

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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
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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
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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.

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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.

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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.

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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

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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
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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.
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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.
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Best High-Yield Savings Accounts

Latest articles

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Second stimulus check: Here’s why this new proposed round of $1,200 payments could be easier to get

The HEROES Act is back, but it could be a non-starter for some Republicans.
Oct 01, 2020
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Biden or Trump? Plenty of young people remain undecided about who is best for their finances

In this election, many young voters remain unsure about at least one key issue.
Sep 17, 2020
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Second stimulus check: How much money could you get?

The plan includes direct aid to taxpayers: $1,200 to individuals and $500 per child and dependent adult.
Sep 16, 2020
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Do I have too much money in my emergency savings?

How much is too much? Here’s everything you need to know.
Aug 24, 2020
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Survey: Nearly 3 times as many Americans say they have less emergency savings versus more since pandemic

The study shows that the number of Americans with less emergency savings has ballooned since the crisis began.
Aug 20, 2020

$4,000 travel tax credit? Here’s how the ‘Explore America’ stimulus proposal could fund your next vacation

Here’s what a proposed tax credit for travel could mean for you.
Jun 24, 2020

What to do with an inheritance

When it comes to handling a windfall, don’t rush it. You’re going to want to make a financial plan.
Jun 19, 2020
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Negative interest rates and savings accounts: What that could mean for your money

Here’s how to optimize your saving strategy in a tough economy.
Jun 08, 2020
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
Calendar of 2023

Take the 52-week money challenge: What it is and how to do it

Use this challenge to stash more cash toward your savings goals.
Dec 19, 2024
Clocks are displayed across an image of a dollar bill.

Historical CD interest rates: 1984-2024

Take a look at the days when CDs were offering investors double-digit returns.
Dec 19, 2024
Woman watering plants.

Current CD rates for December 2024

Check out the latest CD rates from Bankrate’s weekly survey of banks and thrifts.
Dec 19, 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 19, 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 19, 2024
Federal Reserve Board Federal Reserve Chairman Jerome Powell speaks during a news conference.

Fed lowers interest rates for third time this year, signals slower pace of cuts in 2025

Fed officials, however, are uncertain about how many times they’ll be able to cut borrowing costs in 2025.
Dec 18, 2024
Fed Chair Powell Holds News Conference Following FOMC Rate Decision

The Federal Reserve’s latest dot plot, explained – and what it says about interest rate cuts

This Fed communication tool is important, but be cautious when interpreting it.
Dec 18, 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
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