Best Savings Accounts in Arkansas of June 2022

Victoria Daniel

If you are looking for a savings account in Arkansas, we are here to help.

Arkansas has dozens of banks that offer high-yield savings accounts to its residents. Whether you prefer online or in-person banking, there is a wide variety of banking services to choose from.

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.

It is important to keep in mind that a high APY does not necessarily result in high returns. For example, some accounts have a high APY, with high monthly fees, and minimum initial deposit and balance requirements. Remember to weigh out the return on investment and the cost for account maintenance.

Knowing your individual preferences and saving habits will help to narrow down and focus your search on features that will work in your favour. For example, if you prefer using your mobile to complete transactions, a high-yield savings account with a robust mobile application would be an ideal choice for you. 

To find some of the best savings accounts in Arkansas, we compared factors such as APY, minimum balance requirements, convenience, and security. Use our list to choose an account that is most suitable fit for your financial needs.

Earn 17x higher than the national average

$0

Min. To Earn APY

1.20%

Est. APY

Overview

This savings builder 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

No monthly, minimum, and overdraft fees

$0

Min. To Earn APY

0.61%

Est. 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

Track your savings through online banking or the mobile app

$0

Min. To Earn APY

1.25%

Est. 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

Provides access to money management tools

$0

Min. To Earn APY

0.03%

Est. APY

Overview

First Citizen Bank savings account is an online account that charges no monthly fees, but you need to make a minimum deposit of $50 to open this account.

What we like

  • Mobile and online banking
  • Money management tools
  • No monthly service fees
  • ATM card available
  • FDIC Insured

What we don't

  • Limited no-fee withdrawals
  • High wire transfer fee