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.
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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