While the Fed continues to ratchet up interest rates now is the time (if you have not already) to move your savings account to a bank that is paying a sizable interest rate!

Here are a few to consider:

Betterment.com – 4.00% savings rate with no minimum, and if you are blessed to have more than $250,000 in your bank account well Betterment is a FinTech that can keep your funds in multiple banks under one Betterment account and thus ensure you up to $2 million! This is the savings account I use and I am easily able to move funds between my local bank and Betterment with a couple clicks, although you can easily use Betterment for both checking and savings services. Please use this link and your account will get a special bonus of free managed services for your first $5,000 (should you also decide to use them for investing services in the future, which is in no way a requirement of Betterment to setup a savings account).

Marcus.com – 3.9% savings rate with no minimum. It is no secret that Marcus is operated by Goldman Sachs and FDIC insured to $250,000. Solid service that I have used in the past as a savings account.

Citizens Bank – 3.7% savings rate with no minimum and a $250,000 FDIC insurance.

Notice: Rates are as of March 2, 2025. Subject to change.