With the average annual percentage yield on savings accounts in the U.S. at less than one percent, most customers have to be willing to deposit significant sums of money in order to see any meaningful growth to their savings.
Though these accounts often do not come with the services provided by traditional banks, such as ATM withdrawals and mobile banking apps, the lack of frills allows these companies to transfer the savings on to consumers and offer interest rates significantly higher than the national average.
So before opening a new savings account, these are the four savings accounts with the highest annual percentage yield, according to Bankrate.com.
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