CNBC's best big bank savings accounts of 2024
Best at Bank of America

Bank of America Advantage Savings Learn More Annual Percentage Yield (APY) 0.01%, with option to increase if a Preferred Rewards member

Minimum balance $100 to open

Monthly fee $8 per month, with options to waive. New account holders get the first six months with no monthly fees

Maximum transactions Up to 6 free withdrawals or transfers per statement cycle

Excessive transactions fee $10 when you make over 6 withdrawals in a month

Overdraft fees Overdraft protection when you link your savings account to your checking account

Offer checking account? Yes

Offer ATM card? Yes, if have a Bank of America checking account Terms apply. Pros Earn cash back on select deals at stores, restaurants and more through BankAmeriDeals®

Save money from everyday purchases through Bank of America's Keep the Change® program

Get rewarded for having big balances through Bank of America's Preferred Rewards program

Access Erica® for customized and real-time virtual financial assistance

Bank of America has a vast network of ATMs

No monthly maintenance fee for first six months on new accounts

Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees

Higher-than-average minimum deposit to open an account

Low APY (and option to earn higher is high threshold) Learn More View More

Who's this for? The Bank of America Advantage Savings account stands out because of the special rewards programs you can access if you use a Bank of America credit card or open a Bank of America checking account in tandem with your savings account. Account holders can earn up to 15% cash back on select eligible purchases at stores, restaurants and more with BankAmeriDeals® when using a Bank of America debit or credit card. The Bank of America Advantage Savings account requires a $100 opening deposit. There's an $8-per-month maintenance fee that is waived for the first 6 months for new account holders. Customers can avoid paying the monthly fee after the intro period by maintaining a minimum daily balance of at least $500, linking their savings account to their Bank of America Advantage Relationship Banking® checking account or becoming a Bank of America Preferred Rewards member. Students under 24 who are enrolled in school may also qualify for a waiver. There are three tiers to the Bank of America's Preferred Rewards program, and your 3-month average daily balance across your Bank of America deposit and Merrill Lynch/Merrill Edge investment accounts determines which tier you qualify for. You must also have an eligible Bank of America personal checking account to qualify. The tiers include Gold, Platinum and Platinum Honors, and there's a $20,000 minimum balance required. If you qualify and enroll in the Preferred Rewards program, you're also eligible for an elevated APY, ranging from 0.02% to 0.04% depending on which tier. Otherwise, the standard APY is 0.01%. To improve your savings habits, consider enrolling in Bank of America's Keep the Change® program, which allows account holders to round up their debit card purchases and deposit the difference into their savings account each day. Through the Bank of America mobile app, customers can access Erica® for customized and real-time virtual financial assistance. The bank has over 4,000 branches and 16,000-plus ATMs throughout the country. A withdrawal limit fee of $10 is applied for each withdrawal over 6 per month, and there is overdraft protection when you link your savings account to your checking account.

Best at Wells Fargo

Way2Save® Savings Learn More Annual Percentage Yield (APY) 0.15%

Minimum balance $25 to open

Monthly fee $5 per month, with options to waive

Maximum transactions Up to 6 free withdrawals or transfers per statement cycle

Excessive transactions fee Each withdrawal over the 6 per month limit will be assessed

Overdraft fees Overdraft protection when you link your savings account to your checking account

Offer checking account? Yes

Offer ATM card? Yes, if have a Wells Fargo checking account Terms apply. Pros Wells Fargo is the largest brick-and-mortar bank in the nation, by number of branches

Encourages automatic saving through Save As You Go®

Monthly maintenance fee can be waived with automatic transfers into your savings

Low minimum deposit to open an account

Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees

Low APY Learn More View More

Who's this for? With about 5,400 physical locations and over 13,000 ATMs, Wells Fargo Bank is the largest brick-and-mortar bank in the nation by the number of branches. For those looking to open an account at a bank with the most opportunity for in-person access, Wells Fargo is your best choice. Wells Fargo offers two different savings accounts: the basic Way2Save® Savings and the elevated Platinum Savings. CNBC Select chose Way2Save as the better savings account option because it has a lower minimum daily balance requirement to avoid the monthly service fee ($5 per month for Way2Save and $12 per month for Platinum). To avoid these fees, account holders must either maintain a $300 minimum daily balance or set up their choice of automatic transfers from their checking to their savings: $25 in total, $1 each business day per month or at least one Save As You Go® transfer. With Save As You Go, it's easy to set aside cash. Wells Fargo automatically transfers $1 of a customer's funds from their linked Wells Fargo checking account to their Way2Save account for each qualifying transaction that is a non-recurring debit card purchase or online bill payment using Wells Fargo Online® Bill Pay. To accelerate completing your savings goals, you can set up additional automatic transfers from your checking account each month. There is a $25 minimum opening deposit for this savings account, and those who link a Wells Fargo checking account can opt for overdraft protection. The APY on this account is currently 0.15%.

Best at Chase Bank

Chase Premier Savings℠ Annual Percentage Yield (APY) 0.01%, with option to increase up to 0.05%

Minimum balance $0

Monthly fee $25 per month, with options to waive

Maximum transactions Up to 6 free withdrawals or transfers per statement cycle

Excessive transactions fee $5 when you make over 6 withdrawals in a month

Overdraft fees N/A

Offer checking account? Yes

Offer ATM card? Yes, if have a Chase checking account Terms apply. Pros Chase Bank has a vast network of ATMs

Users have the option to earn a higher APY

Monthly maintenance fee can be waived by linking to a checking account

No minimum deposit to open an account

Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees

Low APY (although option to earn higher) View More

Who's this for? If you are looking for a broad network of ATMs to avoid any out-of-network fees and want a chance to earn a slightly higher APY, consider the savings accounts offered by Chase. Chase Bank has nearly 4,900 branches and 16,000 ATMs. Like Wells Fargo, Chase offers two brick-and-mortar savings accounts: the standard Chase Savings℠ and the Chase Premier Savings℠. CNBC Select ranked the latter as one of the best because you can earn better interest rates (what Chase calls "relationship rates") on higher balances by linking your savings to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking and making at least five transactions in a month using your linked checking account. If you don't link your Chase Premier Savings account to a Chase checking account, the APY is 0.01%. But the APY creeps up slightly if you do have a linked account. For example, you can earn 0.02% APY if you also have a Premier Plus Checking or Chase Sapphire Checking account. By linking to a checking account, you also avoid the monthly $25 service fee that comes with the Chase Premier Savings. Otherwise, there's a daily minimum balance of $15,000 required. There is no minimum deposit required to open an account. If you choose to link a Chase Sapphire Checking account, you can take advantage of Sapphire℠ Banking perks, which include special access to sports and entertainment events and early ticket sales. Chase also has an automatic savings program where customers can get help reaching their set savings goals in the bank's mobile app. There is a $5 savings withdrawal limit fee when you make over six withdrawals in a month, including those made at a branch or at an ATM. This fee is waived with a balance of $15,000 or more in the account at the time of withdrawal.

Best at U.S. Bank

U.S. Bank Standard Savings Account Learn More Annual Percentage Yield (APY) 0.01%

Minimum balance $25 to open

Monthly fee $4 per month, with options to waive

Maximum transactions Up to 6 free withdrawals or transfers per statement cycle

Excessive transactions fee N/A

Overdraft fees Overdraft protection when you link your savings account to your checking account

Offer checking account? Yes

Offer ATM card? Yes, if have a U.S. Bank checking account Terms apply. Pros Lower-than-average fees for a brick-and-mortar savings account

Low monthly maintenance fee, plus option to waive with $300 minimum daily balance

Low minimum deposit to open an account

Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees (although lower than others)

Low APY Learn More View More

Who's this for? If you want a simple, no-frills and low cost savings account at a big bank, U.S. Bank's Standard Savings Account is for you. With about 2,700 branches and 4,500 ATMs, U.S. Bank has a smaller physical presence than the other national banks on this list, mostly across the Midwest and Western parts of the U.S. However, as its name suggests, the Standard Savings Account is a straightforward option if you live near a U.S. Bank location. Potential savers can open an account with a $25 minimum deposit. The monthly maintenance fee is $4 a month. The fee is waived for account holders who have a $300 minimum daily balance, a $1,000 average monthly collected balance or are under 18. The APY offered is 0.01% on all balances, and you can take advantage of overdraft protection when linking your savings account to your U.S. Bank checking account.

Best at Citibank

Citi® Savings Account Learn More Annual Percentage Yield (APY) 3.85%

Minimum balance None

Monthly fee $4.50 per month, with options to waive.

Maximum transactions Up to 6 free withdrawals or transfers per statement cycle

Excessive transactions fee N/A

Overdraft fees Overdraft protection when you link your savings account to your checking account

Offer checking account? Yes

Offer ATM card? Yes Terms apply. Pros Low monthly maintenance fee, plus option to waive with $4500 minimum daily balance

No minimum deposit to open an account

Up to 6 free withdrawals or transfers per statement cycle

Higher APY relationship rates are available Cons Low APY

Has monthly maintenance fees (although lower than others) Learn More View More

Who's this for? The Citi® Savings Account is ideal for those who appreciate robust digital banking features but still want access to physical branches. Citibank is the nation's third-largest bank but has far fewer branches than some competitors, with only about 700 branches in the U.S. Customers have access to over 65,000 surcharge-free ATMs in the U.S. and can take advantage of a range of online banking features, including mobile check deposit, hassle-free transfers and easy online bill payments. Citi stands out for offering a higher APY than its brick-and-mortar competitors, with a 0.05% APY for basic customers and the potential to earn up to 1.01% APY depending on your Citi account tier. There is no minimum deposit required to open an account. Customers can avoid paying the low monthly fee by maintaining a minimum daily balance of at least $500 or linking their savings account to their checking account and either making one enhanced direct deposit and one qualifying bill payment per statement period or maintaining a $1,500 average monthly collected balance.

Best at PNC Bank

Virtual Wallet® Learn More Annual Percentage Yield (APY) 3.50% APY on select Virtual Wallet Growth accounts with relationship rates.

Minimum balance Varies depending on Virtual Wallet account

Monthly fee Ranges from $7 to $25 depending on Virtual Wallet account, with options to waive

Maximum transactions Up to 6 free withdrawals or transfers per statement cycle

Excessive transactions fee N/A

Overdraft fees Overdraft protection offered by your Reserve and Growth accounts

Offer checking account? Yes

Offer ATM card? Yes, if have a PNC Bank checking account Terms apply. Pros New account holders can earn a welcome bonus of up to $200

Virtual Wallet includes individual checking and savings accounts that work together

Earn cash or points through PNC Purchase Payback® program

Reimbursable non-network ATM fees

Account holders can choose the Virtual Wallet best for them

Options to waive monthly maintenance fee

Higher APY relationship rates are available

Up to 6 free withdrawals or transfers per statement cycle Cons Has monthly maintenance fees

Have to call PNC Bank to find out APY offered in your area Learn More View More

Who's this for? PNC Bank is a large brick-and-mortar bank with approximately 2,300 branch locations and nearly 18,000 PNC and PNC Partner ATMs. It stands out on our list for its savings account option called Virtual Wallet®, which uses innovative online tools to make it easy to see how you're managing your money day to day. The account is best for those who want to do all their banking in one place as it rewards you for combining your savings and checking into one. New account holders can earn a welcome bonus of up to $400 depending on what type of Virtual Wallet they open. The three choices include Virtual Wallet, Virtual Wallet with Performance Spend and Virtual Wallet with Performance Select. The simple Virtual Wallet has basic account features while the two other options offer more premium rewards. For those enrolled in school, there is also a Virtual Wallet Student option. All of the above Virtual Wallet options include individual accounts that work together: Spend, Reserve and Growth. Spend is your everyday checking account, Reserve your interest-bearing checking account / primary overdraft protection account and Growth is your long-term savings account / secondary overdraft protection account. Higher "relationship" interest rates are available on your Growth savings account. The monthly service charges range from $7 to $25, depending on the type of Virtual Wallet you have and can be waived depending on minimum balances in your Spend + Reserve checking accounts (required balances and minimum deposits vary according to the type of Virtual Wallet you have). Virtual Wallet account holders can make free transactions at approximately 9,000 PNC-owned ATMs, and if you end up using a non-PNC ATM, some fees are reimbursed. Through the PNC Purchase Payback® program, customers can also earn cash back or points on purchases made using their PNC Bank Visa® Debit Card which is automatically issued when they sign up for Virtual Wallet. The customized rewards program has offers available from participating merchants depending on your shopping habits. Though you can open a Virtual Wallet account online, being a brick-and-mortar bank, PNC also welcomes customers to visit their local branch to open an account and offers a coupon printout of the welcome bonus that savers can bring with them to redeem. For current APY information, call 1-888-PNC-BANK (1-888-762-2265). If you're looking for a more straightforward account, PNC Bank also offers a Standard Savings Account.

Common savings account terms you should know

Annual Percentage Yield (APY): The amount of interest an account earns in a year.

The amount of interest an account earns in a year. ATM networks: ATMs can either be in-service or out-of-network, depending on which bank you have. When you make a transaction at an ATM that is outside your bank's network, then a fee will most likely be applied by both the ATM operator and your bank.

ATMs can either be in-service or out-of-network, depending on which bank you have. When you make a transaction at an ATM that is outside your bank's network, then a fee will most likely be applied by both the ATM operator and your bank. Overdraft protection: Any negative checking account balances are automatically covered when linked to a savings account.

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every brick-and-mortar savings account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best big bank savings accounts.

Our methodology

To determine which big bank savings accounts are best, CNBC Select analyzed dozens of U.S. savings accounts offered by the largest national banks and credit unions. We narrowed down our ranking by only considering those savings accounts that come from big banks with broad availability, offering access to at least 700 physical branches and over 4,000 non-fee ATMs in the U.S. While the accounts we chose in this article are from the largest banks, we compared each savings account on a range of features, including its fees, opportunities to earn higher interest rates, customer service and any other special offerings or programs. We also considered factors such as insurance policies, users' deposit options, other savings accounts being offered by the same bank and customer reviews when available. All of the accounts included on this list are FDIC-insured up to $250,000. Note that the interest rates and fee structures for brick-and-mortar savings accounts are subject to change without notice. Product and feature availability vary by market so they may not be offered depending on where you live. Most brick-and-mortar banks require you to enter your zip code online for the correct account offerings. Any return on your savings depends on the associated fees and the balance you have in your brick-and-mortar savings account. To open a savings account, most banks and institutions require a deposit of new money, meaning you can't transfer money you already had in an account at that bank.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.