But where does one start? That is where we come in. We regularly survey the leading banks in the US to find the best savings account for you and your family.  This is what we found.   While you round up your search, consider our top picks for the best cash management accounts and the best free business checking accounts for that budding business!   

APY: 1.15%ACH transfers: $0Excessive transaction fee: $10 per transactionIncoming wires: $0Monthly fee: $0Outgoing wires: $20Returned deposit item: $7.50

Ally’s High Yield Savings is our pick for the best savings account because it has few fees matched with a good APY. You will pay none of the usual fees that banks charge, waiving the cost for such things as ACH transfers, excessive transactions, and incoming wires. There also is no monthly fee. Ally is a company that proudly boasts its ability to help consumers save twice as much when using the digital savings tool available. It offers buckets that you can use to create, prioritize, and complete tasks, while boosters are used to increase the funds in your savings account. You can easily add funds to your accounts through recurring transfers that happen each month automatically, taking one more thing off your plate. If you want to build your savings faster, you have the option of a recurring transfer that will round each purchase to the next dollar.  

APY: 0.61%ATM card: $0Foreign transaction fee: $0Incoming wire: $0Outgoing wire: $35 domestic / $45 internationalPaper statements: $5

The Axos High Yield Savings Account is a high yield account that boasts one of the highest APYs on our list, topping even the highest APR by one percent. In order to qualify, you must have less than $25,000 in your account to receive this rate, because after that, the rate begins to decrease as the balance grows bigger. Other than that, there are few fees. Axos skips the monthly maintenance fee commonly seen with other banks. You are not required to maintain a certain balance in your account, but you face a $250 fee when you first open the account. It is used to jumpstart your account balance before the monthly minimums are waived. To give you better access to your funds, you can request a free ATM card and then manage both your transactions and savings via the online banking dashboard. Your information is kept secure with biometric identification and advanced safety protocols. Plus, there are also digital money management tools to help you manage your finances, plus automated support available 24/7. 

APY: 1.00%Minimum balance: $0Monthly fee: $0

The American Express® Savings account has a higher rate than many banks, and its customer service is well known for its 24/7 service and high customer service standards. Like Ally Bank, there are few fees here with the High Yield Savings Account. Amex does not charge monthly fees, nor does it require an account minimum, so you can save even more. Best of all, it is backed by the power of American Express with the added security of FDIC insurance for your funds. It is important to note that you need to keep some sort of funds in your account because American Express will automatically close your account after 180 days of inactivity.  There are also no ATM cards for this account, restricting your access somewhat, but there are both digital and paper statements that you can use to track your account. 

Excessive transaction fee: $10International ATM: $2 Minimum opening balance: $250Monthly service fee: $3Out-of-network ATM fees: $5 

The Capital One Business Advantage Savings Account delivers an extra bonus with its promotional interest rate of 0.20% that is guaranteed for your first year of having the account. If you maintain a minimum balance of $300 each month, the bank will waive its monthly maintenance fee. There are extra perks from Capital One, too. Account holders also have the option to use Capital One ATMs for free, although there is a $2 charge when you use other ATMs not associated with Capital One. If you have a Capital One checking account, you can link your savings account to provide overdraft protection. Its APY is lower because it is a business account, and you will need $250 at minimum to open your account. Once you open your account, you will have access to account details, as well as exclusive online tools to help you manage your finances. 

APY: 1.10%Bank check: $0Excessive withdrawal fee: $0Expedited delivery for official bank checks: $0Monthly fee: $0Insufficient funds: $0Stop payment: $0

The Discover Online Savings Account claims you can earn in interest over five times the national savings average. It could be because with Discover, fees are few and far between. There are no monthly fees, and you do not have to come up with cash to open the account. You also are not required to keep a minimum balance in your account each month, giving you much greater freedom. However, you have the option to transfer funds from both Discover and other accounts. There is also the option of automatic transfers, which can be set up to run each month based on your instruction. With Discover, you receive 24/7 customer service that is US based for quick help and easy communication.  Pros:

High APY for members with direct depositNo feesAccess to 55,000+ Allpoint ATMsEarly access to direct deposit funds

Cons:

Requires direct deposit account to receive 1.50% APY rateMinimum direct deposit of $1,000 for no-fee overdraft coverage

These are some of the factors we considered to find the best online savings account:

APY: How much interest you earn matters, so we look for companies that offer a high APY to give you maximum growth potential.Fees: There are many fees that an account holder can face, like monthly maintenance fees, an opening balance, or even a wire transfer. Be sure to carefully read the fee schedule to ensure that it is right for you. Access: Some banks offer ATM cards so you can take out cash, but not all of them do. If you think you will want to access your savings, check to see which banks give you an ATM card upon sign-up. FDIC protection: FDIC insurance is very important to secure the funds you put into your savings account because federal law protects up to $250,000 in your savings.

Before you choose the best savings account for you, check out the details of each bank to ensure that everything works for you and meets your needs.  

Barclays Bank: When you want lots of optionsChase Premier Savings: When you prefer a brick-and-mortarMarcus by Goldman Sachs: An excellent choice for no feesPenFed: Best credit unionSallie Mae SmartyPig: A good option for studentsCapital One 360 Kids Savings Account: Made specifically for children