Michigan residents have a wide range of online and in-person savings accounts to choose from. We can help you find an account that is best suited for your needs and preferences.
A high-yield savings account can help you to increase your savings faster than a standard account. It usually has a higher annual percentage yield (APY), which is many more times higher than the national average of 0.05%. While the APY is an important feature, other factors need to be considered as well.
A key aspect during the selection process is the account service charge. High account charges significantly reduce net earnings. Look for a combination of high APY and low service charges. Also, consider the minimum requirements, security, and ease of access.
Finding an account best suited for your needs can be time-consuming and challenging. WalletBrain is here to help you make the right choice. Use our comprehensive review of some of the best savings accounts in Michigan and make an informed choice 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.
| Range | APY |
|---|---|
| $0.01+ | 0.60% |
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.
| Range | APY |
|---|---|
| $1 - $24,999.99 | 0.30% |
| $25,000+ | 0.45% |
