Being an economic hub and the 6th most populated state in the United States, Illinois is home to hundreds of banks. These banks provide a variety of both online and in-person high-yield savings accounts.
The goal is to find one most suitable for your financial needs when choosing a high-yield savings account. It is always important to compare the available options across the marketplace. Start by determining your needs and preferences. This will help you focus your search and what is important for you when opening an account.
Other factors to consider are the annual percentage yield (APY), required initial deposit, minimum balance requirements, account fees, ease of access, among other features. Also, consider the safety of your deposits such as FDIC insurance.
With so many factors to consider, choosing a high-yield savings account can be time-consuming and can become a hassle. We took an extensive look at some of the best savings accounts in Illinois.
Use our comprehensive review to find the best match for you today.
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.
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.
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.
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.