FROM OUR PARTNERS

Best Savings Accounts in Virginia of January 2023

Victoria Daniel

Do you want to maximize the returns on every dollar you save?

Virginia has a dozen banks operating with the state. Residents have a variety of options when it comes to savings accounts. Whether you prefer online or in-person banking.

When it comes to choosing the best savings account, the APY is not the only consideration. Most of the banks with really high APY tend to have high service charges such as high monthly and transaction fees. Other factors to consider include the account fees, minimum requirements, digital experience security, and customer service.

Aim at finding an account with a balance between high APY, account fees, and other features that work in your favour for your financial needs.

WalletBrain took a look at some available options for you. Use our comprehensive review of some of the best savings accounts in Virginia to find the most suitable match 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

4.11%

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