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Best Savings Accounts in New Mexico of February 2023

Victoria Daniel

If you are looking to grow your savings, a high-yield savings account is your best option. They help you reach your financial goals by increasing the speed at which your money grows.

New Mexico has dozens of banks operating within the state. They offer both online and traditional banking services. If you are looking for a high-yield savings account in New Mexico, there is a wide range of options to choose from.

In addition to the high interest they offer, most high-yield savings accounts make it easier for you to withdraw funds without requiring long-term commitments. They are a safe way to save money as long as you open them at an FDIC-insured institution. It is important to shop around and compare the various options before making a decision.

We made the process easier by reviewing some of the best savings accounts in New Mexico. We reviewed the APYs, account fees, minimum requirements, and other features to select our top picks.

Use our thorough review to choose an account that is best suited for you today.

Bank online with no monthly fees

3.85%

Est. APY

$0

Min. To Earn APY

Overview

This savings 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

Access to checking writing

4.21%

Est. APY

$0

Min. To Earn APY

Overview

UFB Direct comes with check-writing capabilities and a free ATM card with a national network of fee-free ATMs.

What we like

  • Competitive interest rates
  • No minimum deposit
  • No recurring maintenance fees
  • Nationwide fee-free ATMs
  • Check writing capabilities
  • FDIC insured

What we don't

  • No physical branches
  • Account options are limited

Track savings on the mobile app

3.20%

Est. APY

$0

Min. To Earn 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

No monthly and minimum fees

0.61%

Est. APY

$0

Min. To Earn 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