Best Savings Accounts in Louisiana of August 2021

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.

Axos Bank High Yield Savings Account

axos bank logo

$0

Monthly Fee

$250

Min. To Open

0.60%

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
  • No rate tier, APY same regardless of balance

APY ranges

Range APY
$0.01+ 0.60%

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$250
  • Min. Deposit For No Fee$0
  • CompoundedDaily
  • State RestrictionsNone

ATM & Debit Card

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Debit Card UseAllowed

CIT Bank Savings Account

cit bank logo

$0

Monthly Fee

$100

Min. To Open

0.45%

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. 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.

What we like

  • No monthly fees
  • Deposit $100 a month to receive higher APY
  • One of the top APYs around

What we don't

  • No sign up bonuses
  • No physical branch locations
  • No ATM card

APY ranges

Range APY
$1 - $24,999.99 0.30%
$25,000+ 0.45%

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$100
  • Min. Deposit For No Fee$0
  • CompoundedDaily
  • State RestrictionsNone

ATM & Debit Card

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Debit Card UseAllowed