There are multiple alternatives available for North Carolina residents searching for an optimal savings account. In order to aid you in making a wise choice, we have gathered a good compilation of some of the finest options accessible in North Carolina.
These accounts have been thoughtfully designed to meet a diverse range of savings objectives, whether purchasing a new car, financing a home improvement, or saving for a vacation. They provide exceedingly competitive interest rates, low or no fees, and user-friendly features.
Ally High-Yield Savings Account
Savings APY
Minimum Deposit
Promotion
Fees
Customers in North Carolina can avail themselves of the Ally High-Yield savings account, which presents a range of enticing features. Firstly, it boasts a high APY of 4.20%, making it an exceedingly rewarding savings option.
Furthermore, there are no monthly maintenance fees or minimum balance requirements, guaranteeing that your savings remain intact without additional charges.
The account ensures 24/7 customer support, guaranteeing assistance is readily accessible whenever required. Ally also provides savings organization tools, allowing you to categorize your savings goals within a single account.
The “Round Ups” feature automatically transfers funds from your Interest Checking account to the High-Yield Savings Account when your transactions are rounded up to the nearest dollar.
LendingClub High-Yield Savings
APY Savings
Minimum Deposit
Promotion
Fees
The Lending Club Savings account provides an appealing choice for North Carolina residents aiming to save money. It boasts a competitive interest rate that surpasses the offerings of most banks. At present, you can earn 5.00% on all funds deposited. Additionally, there are no monthly fees, and once you make an initial deposit of $100, no minimum balance requirements need to be met.
Moreover, the account includes a practical card that grants access to ATMs. By utilizing MoneyPass and SUM machines, you can withdraw cash without incurring any ATM fees. It's worth noting, however, that certain ATM owners may charge a fee.
For added convenience, all banking activities, including account management, mobile check deposits, and bill payments, can be effortlessly performed online or via the mobile app.
Top Offers From Our Partners
Top Savings Accounts From Our Partners
Quontic High Yield Savings
- 4.50% APY on savings
- Interest is compounded daily
- No Monthly Service Fees
CIT Savings Connect
- Up to 4.85% APY on savings
- No monthly service fees.
- Zelle, Samsung & Apple Pay
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The product offers that appear on this site are from companies from which this website receives compensation.
Top Offers From Our Partners
Capital One 360 Performance Savings
Savings APY
Minimum Deposit
Promotion
Fees
North Carolina customers can use the Capital One 360 Performance Savings account, which offers several advantages. Firstly, it boasts a high APY, enabling you to earn more on your savings compared to other available options in the market. As of September 2024, the account offers an APY of 4.25%, significantly surpassing the average rate.
Capital One has streamlined the banking experience, prioritizing user-friendliness. Notably, they provide an automatic savings plan feature, allowing you to schedule automated transfers. Consequently, your online savings account can steadily grow without requiring any additional effort on your part.
The mobile check deposit feature proves highly convenient for individuals who rarely visit physical bank branches. You can easily deposit it into your account by simply capturing an image of your check using your mobile phone.
Rising Bank High Yield Savings
APY Savings
Minimum Deposit
Promotion
Fees
Residents of North Carolina can benefit from the Rising Bank high-yield savings account, which offers a competitive savings rate of 4.75% APY. This rate stands out as one of the highest available in the market. To qualify for the APY, it is necessary to maintain a minimum balance of $1,000, which slightly exceeds the requirements of other savings accounts.
Rising Bank provides three options for depositing funds into your account: connect your external account, opt for a wire transfer, or send a check. Managing your savings is convenient and hassle-free, thanks to the user-friendly online and mobile banking platforms offered by Rising Bank. Should you require assistance, the dedicated support team of Rising Bank is committed to delivering excellent customer service.
Rising Bank operates as an online division of Midwest BankCentre, a long-established community bank headquartered in St. Louis. Setting itself apart from traditional banks, Rising Bank operates exclusively online, obviating the need for physical branch visits.
Marcus by Goldman Sachs
Savings APY
Minimum Deposit
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Fees
The Marcus by Goldman Sachs High-Yield Online Savings Account represents one of the finest options among high-yield savings accounts. It offers a satisfactory 4.40% APY on all balances.
Marcus imposes no one-time fees for opening a savings account, and you need not worry about recurring fees for account maintenance, service, or transfers. Additionally, there is no need to meet any minimum deposit or balance requirements.
In 2016, Goldman Sachs made a notable entry into consumer banking by introducing Marcus by Goldman Sachs. This strategic maneuver aimed to broaden their offerings beyond investment banking, furnishing valuable financial management solutions to individuals across the United States.
Upgrade Savings Account
Savings APY
Minimum Deposit
Promotion
Fees
The Upgrade savings account is a favorable choice for individuals residing in North Carolina. This account boasts an impressive Annual Percentage Yield (APY) of 5.02% and is free from any monthly charges. Notably, one can open and fund an Upgrade Premier Savings account independently without the need for a checking account.
Various methods exist to deposit funds into this account, including regular ACH transactions, wire transfers, or establishing direct deposit with one's employer. However, it is worth mentioning that while the Premier Savings account is highly regarded, it lacks certain mobile-friendly features like check depositing through mobile devices or money transfers to other individuals.
Upgrade, a fintech firm founded in 2017, has rapidly built a strong reputation for assisting individuals in attaining their financial goals.
American Express Savings Account
Savings APY
Minimum Deposit
Promotion
Fees
The American Express High Yield savings account offers a quite high-interest rate and eliminates the need for a minimum deposit or the maintenance of a specific balance. Moreover, it does not burden customers with monthly maintenance fees and ensures a hassle-free experience through quick setup and the option to link multiple accounts.
With 24/7 customer support and the added security of FDIC insurance, it guarantees both assistance and peace of mind. However, it does not grant access to ATMs, and mobile deposits are unavailable, necessitating using a third-party bank account.
Opening a savings account through the Amex website is a straightforward process, even for those who are not former customers of American Express. Furthermore, Amex extends its services to include checking accounts and competitive certificate of deposit (CD) options.
Can I Find Better Savings Accounts In North Carolina?
Indeed! The aforementioned savings account exemplifies just one instance from a wide selection of account types accessible in both North Carolina and across the country. Banks and credit unions provide numerous options for your consideration.
When initiating the process of opening a savings account, it is advisable to compare interest rates and take into account other significant factors. If you already have an existing banking relationship, it would be prudent to inquire whether they offer any exclusive promotions designed specifically for you.
That being said, it is undeniable that the following savings accounts stand out as exceptional choices. They offer competitive APYs and generally do not incur monthly fees. Moreover, each account provides a unique range of features to cater to different savers.
These options can be particularly relevant for various individuals, including young investors, families seeking convenience, or those who prefer the ease of online banking over visiting a physical branch.
Choosing Best Savings Account For My Needs
When seeking the optimal savings account, it is imperative to consider the following fundamental inquiries:
What are my savings objectives? It is crucial to determine the purpose of your savings and the desired duration of your saving efforts. This assessment will aid in locating an account that aligns with your specific requirements.
- What is the bank's reputation for customer service? The bank's customer service and reputation are significant factors to consider. Conduct research to gauge the opinions of others regarding the bank's services. Peruse customer reviews and determine if the bank's customer service is exemplary.
Have I conducted sufficient research? Devote time to comparing savings accounts offered by different financial institutions. This exercise will enable you to make an informed decision and identify the ideal account that aligns with your financial goals and preferences.
How can I access the account? Evaluate whether the account provides online banking services, ATM accessibility, a mobile application, or in-person branch services. It is vital to ensure that the account's accessibility meets your convenience requirements.
- Are there any supplementary savings features? Look for additional features like automatic transfers, rewards programs, or overdraft protection. These value-added elements can enhance your savings experience.
Does the bank offer a diverse range of products? If you require additional services such as loans or investment accounts, ascertain whether the bank offers a comprehensive selection of financial products that cater to your needs.
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Best Savings Accounts In North Carolina: Methodology
The Smart Investor team thoroughly researched various banks and credit unions to uncover the best savings accounts in North Carolina . We focused on essential factors such as interest rates, minimum deposit requirements, and fees. Here's how we rated them:
- Rates And Terms (40%): We examined the savings rates offered by North Carolina -based banks and credit unions, considering any unique terms and conditions. Institutions offering competitive rates, reasonable minimum deposit requirements, and minimal fees received higher scores in this category.
- Savings Account Features (30%): This category assessed the range of features tailored to North Carolina savers, including methods for saving and transferring money, withdrawal options, and any special promotions specific to the state. Banks providing a diverse array of North Carolina -centric options earned higher scores.
- Customer Experience (20%): We evaluated the ease of opening an account, the responsiveness of customer service, the usability of mobile apps (tested by our team), and the bank's policies for assisting North Carolina Savings accounts offering seamless account opening processes, efficient customer service, and user-friendly digital platforms received better ratings.
- Bank Reputation (10%): We considered the reputation of each North Carolina -based bank or credit union, taking into account ratings from JD Power, TrustPilot, and local Better Business Bureau reviews. Institutions with positive reputations and satisfied North Carolina customers received higher scores.
