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