24 savings accounts that will seriously help your money grow

Saving money is easy, but knowing where to stash that cash can be hard. Brick-and-mortar banks just aren’t what they used to be. Yes, they offer the convenience of having access to a local ATM, plus online and mobile banking. But they just can’t compete with online banks when it comes to great interest rates.

Switching banks can be scary at first, but it could literally pay off in the long run. The average traditional bank offers an APY (annual percentage yield, or the amount of money you could earn every year for having your money in that account) of 0.09%. So if you had $1,000 in a savings account at a traditional bank with 0.09 percent APY, and the interest is only calculated every 12 months, you’d earn just 9 cents per year.

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However, online banks offer much higher rates, sometimes as much as 40 times the amount of a traditional bank. That means you could be earning dollars every year, rather than measly cents, by switching.

If you’re ready to have your money do some of the work for you, consider switching to a savings account that offers a higher APY. To help you decide which one you should try, we rounded up some of the best savings accounts for every budget that will help your money grow. All are FDIC-insured and offer a variety of interest rates that may be best for your savings situation.

1. CIT Bank

• 2.45% APY
• Required monthly deposit of $100 to earn interest
• No monthly fees

2. MySavingsDirect

• 2.4% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

3. Vio Bank

• 2.39% APY
• Required minimum balance of $100 to earn interest
• No monthly fees

4. CIBC Bank USA

• 2.39% APY
• Minimum $1,000 deposit to open an account
• No monthly fees

5. Citizens Access

• 2.35% APY
• Required minimum balance of $5,000 to earn interest
• No monthly fees

6. PurePoint Financial

• 2.35% APY
• Required minimum balance of $10,000 to earn interest
• No monthly fees

7. Northpointe Bank

• 2.3% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

8. Salem Five Direct

• 2.3% APY
• Required minimum balance of $100 to earn interest
• No monthly fees

9. Marcus by Goldman Sachs

• 2.25% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

10. Customers Bank

• 2.25% APY
• Required minimum balance of $25,000 to earn interest
• No monthly fees

11. HSBC Direct Savings

• 2.22% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

12. Barclays

• 2.2% APY
• Required minimum balance of $0 to earn interest
• No monthly fees

13. Synchrony Bank

• 2.2% APY
• Required minimum balance of $0 to earn interest
• No monthly fees

14. Ally Bank

• 2.2% APY
• Required minimum balance of $0 to earn interest
• No monthly fees

15. IncredibleBank

• 2.2% APY
• Required minimum balance of $25,000 to earn interest
• No monthly fees

16. FNBO Direct

• 2.15% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

17. American Express National Bank

• 2.1% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

18. Discover Bank

• 2.1% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

19. E*Trade

• 2.1% APY
• Required minimum balance of $100 to earn interest
• $10 monthly fee, unless balance exceeds $1,000

20. Radius Bank

• 2.05% APY
• Required minimum balance of $25,000 to earn interest
• No monthly fees

21. Cross River Bank

• 1.92% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

22. Colorado Federal Savings Bank

• 1.9% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

23. DollarSavingsDirect

• 1.80% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

24. Capital One 360

• 1.00% APY
• Required minimum balance of $1 to earn interest
• No monthly fees

This article originally appeared on Swirled.

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