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Best Savings Accounts in California of November 2022

Victoria Daniel

California has a wide range of high-interest savings accounts and is home to more banks than any other state in the U.S.

When selecting the best account for you, look for one with the highest annual percentage yield (APY). Consider other factors like introductory rates, minimum balance, accessibility to your money and account information.

Consider a high-yield savings account as it maximizes the returns for every dollar saved. The annual percentage yield (APY) is higher than what is offered by a standard account. In return, it also allows you to reach your goals faster.

Also note your individual preferences and saving behavior. Knowing what you need will help you choose an account that is best suited for you. For example, if you want quick and easy access to your money, an account with ATM, online, or mobile access would be ideal.

Shop around and compare the features and types of savings accounts. We recognize that this can be time-consuming, so WalletBrain would like to make the process easier for you. We identified some of California’s best savings accounts to give you a head start in finding your top match.

Access to checking writing

3.83%

Est. APY

$0

Min. To Earn APY

Overview

UFB Direct comes with check-writing capabilities and a free ATM card with a national network of fee-free ATMs.

What we like

  • Competitive interest rates
  • No minimum deposit
  • No recurring maintenance fees
  • Nationwide fee-free ATMs
  • Check writing capabilities
  • FDIC insured

What we don't

  • No physical branches
  • Account options are limited

Nationwide access to ATMs

3.00%

Est. APY

$0

Min. To Earn APY

Overview

A Discover Online Savings Account can be a great option for the avid saver where you can take advantage of daily compounding.

What we like

  • High APY
  • No minimum deposit
  • No recurring maintenance fees
  • 60,000+ Nationwide fee-free ATMs
  • No insufficient funds fee
  • User friendly mobile app

What we don't

  • Out-of-network ATM fees

Bank online with no monthly fees

3.25%

Est. APY

$0

Min. To Earn APY

Overview

This savings account is unique where you need to deposit $100 a month to get the highest APY. If you don't deposit $100+ a month, then you need to maintain $25,000 in the account. If you don't do either, you won't receive the higher end APY.

What we like

  • No monthly fees
  • FDIC Insured
  • No minimum balance fees
  • Online banking

What we don't

  • Minimum opening deposit
  • No ATM access
  • Tiered APY

Track savings on the mobile app

3.00%

Est. APY

$0

Min. To Earn APY

Overview

Quontic Bank high yield savings account provides you with the opportunity to accrue interest at a rate 15x higher than the national average. Interest compounds daily and is paid into your account every month.

What we like

  • Mobile and online banking
  • Competitive interest rate
  • No monthly service fees
  • Interest compounded daily

What we don't

  • Limited access to physical branches
  • No sign up bonus
  • $100 minimum deposit requirement

No monthly and minimum fees

0.61%

Est. APY

$0

Min. To Earn APY

Overview

This savings account will provide a flat APY regardless of your balance, and you won't worry about monthly fees. A great perk with this account is you can request a free ATM card.

What we like

  • No monthly fees
  • Interest compounded daily
  • Free ATM card

What we don't

  • No physical branch
  • No sign up bonus