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With the hundreds of banks operating in Arizona, there are a wide range of savings accounts available to its residents. But, these accounts vary on several factors besides the annual percentage yield (APY). It is important to shop around for the best fit before making a selection.
High-yield savings accounts help you build your account balances faster. The first factor to consider when narrowing down your choices is the APY. The higher the APY is, the increased benefits for you.
Other factors to consider include the account fees, minimum initial deposits, minimum balance requirements, and convenience. While some banks offer high APY, they may have high monthly fees and high minimum initial deposit requirements. The high monthly fees also reduce the total amount of the final earnings.
When presented with so many options, it can be challenging to decide on an account. WalletBrain reviewed some of the best savings accounts in Arizona. Use our comprehensive guide to find the most suitable match for you today.
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.