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Best Savings Accounts in Alaska of February 2023

Victoria Daniel

With its small population, Alaska has a few banks in operation within the state. The availability of a wide range of online banking options gives residents more options when considering a savings account.

Savings goals can include building an emergency fund, putting up a down payment for a house, or purchasing a car. With these goals in mind, a savings account can be a helpful tool to reach your goals faster.

The main objective is to find a savings account that maximizes the value for every dollar saved. A high-yield savings account does just this!

Apart from a high annual percentage yield (APY), consider the account fees and other features. It is important to note that while some banks can seem appealing because of the high APY they offer, account fees and other charges can quickly eliminate the gains from your earnings. Compare the monthly fees, the minimum account balances, withdrawal charges, and any additional fees before making your choice.

Choosing an account that is best suited for your needs can be quite challenging. We have simplified the search for you. We reviewed some of the best savings accounts in Alaska. Use our top picks to narrow down your search and find the most suitable match for you.

Bank online with no monthly fees

3.85%

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

Access to checking writing

4.21%

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

Track savings on the mobile app

3.20%

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