Ohio has dozens of banks operating within the state. These banks offer a range of online and traditional brick-and-mortar savings accounts for you to choose from.
A high-yield savings account helps you to grow your savings faster. It offers a high-interest rate or an annual percentage yield (APY). Presented with so many options, deciding on the right account for you can be very challenging. Shop around and compare the different alternatives before making your choice.
The main factor to consider is the APY, the higher the APY, the better results for you. Also, consider the account fees, such as monthly and transactional fees. The high account fees affect the net value of your returns.
Ease of access is also an important feature to look out for if you are building an emergency fund. The digital experience, customer service, among other features can also determine your final decision.
WalletBrain took a comprehensive look at the available choices and compared the APYs, fees, and other characteristics. Here are our top picks for the best savings accounts in Ohio.
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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