If you are looking to open a new savings account, Iowa has a wide range of high-yield savings accounts available for you.
Once you have set your savings goals, the next step is to find the right tools. A high-yield savings account will help you get more out of the money that you save. It offers a high annual percentage yield (APY), which in some cases, is 20 or more times higher than the average national savings account rate of 0.05%, according to FDIC.
Start by determining your needs and preferences. Knowing what you want will help you narrow down your search and focus on what you truly need. For example, if you find it hard to save, getting an account with the automatic saving feature will come in handy. In this sense, you can schedule automatic transfers from your savings account to your high-yield savings account and watch your savings grow.
Other factors to consider are the account fees, minimum requirements, safety, among other features. We reviewed some of the best savings accounts in Iowa to assist you with finding your ideal match today.
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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