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Best Savings Accounts in Rhode Island of November 2022

Victoria Daniel

If you are searching for a savings account in Rhode Island, there are a wide range of options available for you. Whether you prefer online or in-person banking, the dozens of banks that operate throughout the state have an option that is suitable for you.

When choosing a high-yield savings account, the most evident criteria is to go for an account with a high-interest rate or annual percentage yield (APY). But, this should not be your only consideration. Account fees, including monthly and transaction fees, can affect the net return on your investment. Focus on high-yield savings accounts that have no fees or have the option to waive the fees if you meet certain minimum requirements.

Other factors to consider are convenience and accessibility. If you prefer easy access, focus on accounts with online, mobile, or ATM access. Shop around for an account that offers features that fit your needs and preferences while providing a high-interest rate.

We reviewed some of the best savings accounts in Rhode Island. Use our comprehensive review to make the process of finding the best match easier.

Access to checking writing

3.83%

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

Nationwide access to ATMs

3.00%

Est. APY

$0

Min. To Earn APY

Overview

A Discover Online Savings Account can be a great option for the avid saver where you can take advantage of daily compounding.

What we like

  • High APY
  • No minimum deposit
  • No recurring maintenance fees
  • 60,000+ Nationwide fee-free ATMs
  • No insufficient funds fee
  • User friendly mobile app

What we don't

  • Out-of-network ATM fees

Bank online with no monthly fees

3.25%

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

Track savings on the mobile app

3.00%

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