Your Checklist
Open a bank account
Create a budget
Save an emergency fund
Get a credit card
Pay off debts
Start investing
Share Senzu with friends & family
Where should I open my savings account?
This is a simple table to compare savings accounts from various banks. Most traditional national banks offer low interest rates on standard accounts with slightly rates on higher balances. You will want an online bank like Ally to unlock significantly higher interest rates.
| Name | Min. Balance | Interest Rate | Fee |
|---|---|---|---|
Bank of America Regular SavingsA standard savings account | $25 | 0.01% | $5 per mo |
Bank of America Rewards Money Market SavingsA savings account with highest interest rates depending on your balance | $25 | $12 per mo | |
Wells Fargo Way2Save SavingsA standard savings account with features to help you save automatically | $25 | 0.01% | $5 per mo |
Wells Fargo Platinum SavingsA savings account with higher interest rate if you are a PMA Package client | $25 | $12 per mo | |
Chase SavingsA standard savings account | $25 | 0.01% | $5 per mo |
Chase Plus SavingsLike the standard Chase account but with higher interest rates with higher balances | $25 | $20 per mo | |
Ally Online SavingsAn online bank offering great interest rates on savings accounts | $0 | 1% | Free |
Discover Online SavingsAn online bank offering great interest rates on savings accounts | $500 | 0.95% | Free |
 Barclays Online SavingsAn online savings account offering great interest rates on savings accounts | $0 | 1% | Free |
Barclays Dream AccountAn online savings account offering a higher interest rate but with a max limit of $1k deposits a month | $0 | 1.05% | Free |