Best Savings Accounts in Louisiana of May 2022

Victoria Daniel

With more than 4.6 million residents, Louisiana has dozens of banks operating in the state. These banks provide a wide range of high-yield savings accounts for its residents to choose from.

When looking for a high-yield savings account, the first thing that captures your eye is the high annual percentage yield (APY). Finding an account that helps you get the most out of your money is important. So, whether you are saving to build your emergency fund or achieve long-term financial goals, a high-yield savings account is your best bet.

Apart from the APY, your individual preferences and banking habits should also come into consideration. For example, if you use your mobile phone for all your banking transactions, you might want an account that allows mobile check deposits. Other features to pay attention to are the fees, minimums, digital experience, and customer service.

The main objective is to find an account with the best combinations of APY and features most suitable for your needs.

Shopping around for a high-yield savings account that matches your financial needs can be very challenging. We reviewed some of the best savings accounts in Louisiana. Use our comprehensive review to compare the different options and find what meets your requirements.

CIT Bank Savings Builder

$0

Min. To Earn APY

0.90%

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

Axos Bank High Yield Savings Account

axos bank logo
4.8

$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

Quontic Bank High Yield Savings Account

quontic bank logo
4.6

$0

Min. To Earn APY

0.75%

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

First Citizens Bank Online Savings Account

$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