The Top Interest Savings Accounts for 2023

2 minute read

By Topic Insight Staff

Looking to grow your savings? Securing the right savings account can make all the difference in growing your wealth. Fortunately, with a quick search online you can find the top interest savings accounts for 2023.

Start maximizing your savings today with the right savings account. With a little research and consideration, you can find the most promising interest savings accounts of 2023, tailored to your financial goals and aspirations.

Ally Bank

APY: 3.30%
Minimum Balance: $0

Ally Bank comes with a less well-known name but a lot of user-friendliness. With no added fees or monthly minimums, they offer an APY of 3.30%. 1

Even better, you can open an account and start depositing 100% remotely. Ally Bank also offers Amazon Alexa integration, allowing you to move money between accounts just by asking your Alexa suite device. They also offer CDs, checking accounts, IRA savings options, and 24/7 remote support.

Marcus by Goldman Sachs

APY: 3.30%
Minimum Balance: $0

Marcus by Goldman Sachs is the banking arm of — you guessed it — investment firm Goldman Sachs. 2 They offer a savings account sporting a 3.30% APY, which is equivalent to the previous entry on this list. However, it’s still about 10x higher than the current national average APY of 0.33%. 3 Marcus also has CDs and loan options.

LandMark Credit Union

APY: 7.50% APY up to $500

Minimum Balance: $0

Landmark Credit Union offers online and mobile banking, and provides each member with a VISA debit card. 4 They’re also equipped to offer home equity loans, student loans, auto loans, and personal loans.

Right now they’re offering new savings customers a staggering 7.50% on their first $500 deposit. There are some stipulations, including a $100 penalty for closing the account before 90 days.

Phoenix Capital Group

APY: Up to 12% APY

Phoenix Capital Group, founded in 2003, is a private investment firm that focuses on retail, restaurants, and hospitality. 5 Their strategy involves partnering with management teams and working to improve operations, cut costs, and accelerate growth.

They’re offering up to 12% APY for accredited investors only who are willing to commit to a three, five, or seven-year term. Note that there is a $100K minimum investment.

Our Top Choice: Axos Bank

APY: 0.61%
Minimum Balance: $0

Axos Bank is the second wholly online banking experience on our list. However, a couple things are pushing it into first place for us. Axos’s High Yield Savings Account has an average APY of 0.61%. 6 However, they don’t require a minimum deposit in order to open an account. That makes it easier for you to start saving immediately.

They also have checking accounts at 1.25% APY and business accounts. With a great APY and convenient, forward-thinking features that put digital natives first, Axos easily claims the top spot on our list.

Topic Insight Staff

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