Florida has an estimated 200 banks operating within the state, offering banking services to over 21 million residents. These banks provide a wide range of high-yield savings accounts that include both online and in-person options.
To find an account best suited for your needs, take an in-depth look at your individual preferences and habits. Knowing your needs will help you determine the high-yield savings account features that are your best match. For example, if you prefer having easy access to your money, consider an account that offers ATM, mobile, or online access. Choose an account with features that will help you achieve your savings goals faster.
Apart from the high APY, other factors to consider are the account fees, minimum initial deposits and balances, and security. You may find an account with a high APY and the features you need but with high monthly or access fees. The extra costs will significantly reduce the net return. Shop around to find the best mix of APY, features, and other fees.
We reviewed some of the best savings accounts in Florida. Use our comprehensive review to find the most suitable fit for you.
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.
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. It's best to go by depositing $100 a month because you will have accumulated a significant balance in a few years without realizing it.
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