Savings Account reviews from Reddit

Summary

We analyzed 250 Reddit reviews across 39 subreddits and 92 posts to rank the best Savings Account brands recommended by redditors, including communities like r/Banking, r/AusFinance, r/HighYieldSavings, r/irishpersonalfinance, r/StudentLoans. Top-rated brands include Wealthfront (4.5/5), Ubank (4.7/5), Ally (4.3/5).

Stats

Reviews250

Subreddits39

Posts92

Brands91

Products25

Top communities

r/Banking32 r/AusFinance29 r/HighYieldSavings25 r/irishpersonalfinance21 r/StudentLoans17

250 reviews from

and

By Brand

By Product

Wealthfront

4.5

(17)

"I've been using Wealthfront for 6 years now (both their HYSA/cash account and a robo-managed investment account) and have no complaints and many compliments."

"Wealthfront has a cash account with 4.00% HYSA and if you use the referral code you get an extra .50%. Total of 4.50%."

"I use Wealthfront and am very happy. A 4% interest rate and connects seamlessly to all my external accounts."

"Wealthfront has a cash account with 4.00% HYSA and if you use the referral code you get an extra .50%."

"Wealthfront is by far the best HYSA in my opinion."

"Use this link to open a Wealthfront Cash Account. Once you fund it, you’ll get a 0.50% APY boost!"

"Check out the Wealthfront Cash Account. It has no minimum deposit or monthly fees and only requires $1 to open."

"Use this link to open a Wealthfront Cash Account. Once you fund it, you’ll get a 0.50% APY boost!"

"Get 5% for just sitting there"

"I second Wealthfront. I just opened mine a few weeks ago after going through the same digging around you are doing now."

Ubank

4.7

(13)

"UBank. 5.1% up to $100k. Only requirement is to put $500 in a month."

"UBank, definitely. 5.10% p.a bonus interest rate if you deposit $500 a month."

"Second this. Ubank has been awesome and the $500 deposit condition is so simple and easy to satisfy compared to other banks."

"UBank is the way to go."

"Ubank offers 5.5% if you deposit $500 each month"

"UBank has 5.5% up to $100k, 5% for the remaining up to $250k."

"Ubank is one of best best a moment, not having to grow balance each month."

"Ubank 5.5% have the best rates for accounts that don't need you to grow the balance."

"UBank is 5.5%, but you have to deposit $500 per month."

"Ubank, otherwise Macquarie."

Ally

4.3

(12)

"I like Ally. It has buckets to segment savings."

"Ally, Discover, Capital One are the 3 best for ease of use."

"Ally offer very good customer service."

"Ally has a decent HYSA."

"I use Ally and Betterment. Ally usually has competitive CD rates as well."

"Ally and Discover are two options for you to consider."

"Also have had a good experience with Ally."

"Currently is sitting at 3.8%."

"The best long term accounts I've found are Ally, Capital One."

"Ally and Marcus offer really competitive rates."

Marcus by Goldman Sachs

4.3

(10)

"Go with Marcus by Goldman Sachs or Wealthfront. They offer good APYs, are FDIC insured and have no hidden fees."

"Happy with Marcus. Haven't used app, only online. Zero issues transferring in-out to external accounts."

"Hey I chose Marcus by Goldman Sachs recently mostly bc of the good rate and easy to use app."

"Marcus by Goldman Sachs."

"I also just opened a Marcus GoldSach's savings account."

"Marcus by Goldman Sachs also offers 4.25% for 3 months with a referral code."

"Fast transfers between them and your main account."

"Their current rate is 3.9% APY plus a 0.25% cash bonus."

"I've had a great experience with Marcus by Goldman Sachs for years now."

SoFi

4.2

(10)

"SoFi Checking and Savings. You’ll earn up to 3.80% APY and pay no account fees."

"I just went w sofi. 3.8% w/ no account fees/ minimums & ability to transfer at will."

"SoFi offers one of the best APY right now - 4.50%."

"The SoFi high yield savings account (HYSA) is fantastic. No minimum and an interest rate of 4.60%."

"I use SoFi HYSA. Recently dropped from >4% to 3.8%."

"I use SoFi because they had the best rates at the time."

"I’ve been using Sofi but they just dropped their rate to 3.8% :("

"I really like SOFI."

"Is pretty good and highly rated."

"I would NOT recommend Sofi unless you are making a lot of money, as you have to make $5000 of direct deposits every month to qualify for their 4.6% APY."

Savings Account

4.5

(6)

"WELL i can vouch for IDFC bank, it’s one of the best."

"Ally!"

"Meezan gives 11.5??"

"Suncorp was the best option when we opened 4 or 5 years ago. They’re currently about number 3 in best interest rate."

"Mari Saving account or Mari Invest"

"Maribank? marinvest offer up to 3.6-3.8% paid daily."

Capital One

3.9

(7)

"App is easy to use and it has a lot of other perks as well."

"It tends to be pretty competitive with many of the other "major" HYSA names."

"Have decent interest rates."

"Capital One offers a 3.80% APY as of now, with no minimums and no monthly fees."

"You should go with a big bank like Discover or Capitol One (both at ~4.25% right now I think)."

"Decent"

"Capital one pays me 3.8% but more flexibility of using funds."

T212

4.2

(6)

"Best options include: - T212 @ 3.70%."

"5.1 is the best therr is"

"I think it's great. It's nice to see 5.1% daily interest coming in."

"I have my emergency funds parked in T212 cash ISA, which is great for rainy day payments."

"T212 is another viable option for earning interest on savings."

"Only guarantees 20,000, which is a concern."

American Express

4.6

(5)

"If you already use Amex for a credit card, their HYSA should fit nicely."

"I use AMEX for HYS. They’re always competitively priced and great UI."

"Had the Amex one for 5 years and never once spoke to a person lol everything just worked and was able to fully manage everything myself online."

"Has a high yield savings account at over 4%."

"I liked the high return rate and ease of use."

#10

Revolut

4.4

(5)

"Revolut is probably the best Irish bank to keep savings at the moment."

"I use Revolut. 3% interest."

"REVOLUT , EBS, CREDIT UNIONS (based on this order)"

"Try revolut or kit, they have teens accounts"

"Revolut has a great interest rate, making it a good option for savings."

#11

Amex

4.4

(5)

"If you want to keep your banking products together"

"Amex is fine."

"I tend to just keep my HYSA with AMEX since that’s who I have all my cards with and I like their customer service."

"I’ve been very happy with Amex."

"AMEX HYSA is one of the best but the rate might not be as high."

#12

ING

4.2

(5)

"ING and BOQ have 5.5%. ING on balances up to 100k."

"Why wouldn't you just open a normal savings account somewhere with high interest (ING 5.5% at the moment)?"

"ING direct for every day stuff and overseas (very useful for this) and then UBank for the easy no strings attached kinda savings accounts."

"I am mostly using ING Extra-Konto with promotional rates."

"Ing is a solid bank, and all together a decent option also for savings."

#13

Macquarie

4.2

(5)

"Macquarie. 5% no hoops."

"I moved to Macquarie a little while ago. At the time the transaction account had the same interest as the savings account."

"The Transaction account has a debit card and a competitive interest rate of 4.75%. The Savings account offers an introductory rate of 5.35% for the first four months, and both accounts have an excellent user interface."

"Macquarie is pretty good?"

"Macquarie offers better interest rates for kids over 12."

#14

Trade Republic

3.8

(5)

"Prefer Trade Republic for the simple reason interest is earned on a daily basis."

"- Trade Republic @ 3.25% up to 50k"

"I use trade Republic and just leave the money in cash there. 3.75% interest rate paid out monthly."

"With instant access"

"Concerned by some reviews/conversations"

#15

Fidelity

4.8

(4)

"I third this. I use fidelity as a combo HYSA and brokerage."

"Same here. Fidelity rocks!"

"I'm a fidelity fanboy. I use them for as much as I can."

"Fidelity Core position will earn pretty competitive interest."

#16

EQ Bank

4.5

(4)

"Look into EQ bank there rates are higher than wealthsimple."

"High-interest savings account is a good idea, consider EQ Bank or Tangerine."

"EQ Bank or Wealthsimple are popular options."

"EQ Bank is offering 4% on their HISA if you put your direct deposit pay there."

#17

Macquarie Bank

4.5

(4)

"I've landed on Macquarie also, simply because the tech is good, good rate, debit card and zero conditions."

"Macquarie Bank is 5.35% for the first four months and then 5% ongoing with no hoops to jump through."

"Macquire bank might be a good option if you’re eligible. 5.1% into offer for 4 months then 4.75% after that with no hoops to jump through."

"Macquarie 4.75%"

#18

Great Southern Bank

4.5

(4)

"Good rates for the first $5k."

"The Youth eSaver Account offers great interest rates and is perfect for teaching kids about saving."

"Linked to our account."

"No fee and good interest for the first $5k."

#19

Chase

4.0

(4)

"Chase now has a bonus on it's taking it up to 4.8% but it's for 6 months then drops."

"Chase just announced a 4.8% boosted rate for 6 months."

"Chase 4.8%"

"Chase - 4.8%"

#20

Trading 212

4.0

Raisin

4.0

(3)

"You could use Raisin. there are demand deposit accounts at 2.27% at the moment."

"Using Raisin and have had no issues."

"Raisin offers competitive interest rates for savings."

#29

Chocolate Finance

4.0

4.0

(1)

"Has 4.25%."

#73

2.0

(1)

"May mga negative feedback po kasi sa bdo and gotyme (like pangit customer service or mahaba lagi pila)"

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