No minimum balance or direct deposit requirement: You may not have steady income right now.If you’re trying to get into the routine of saving while still in school, here’s what to look for when choosing the perfect place to park your savings: What should college students look for in a savings account? Many of the best high-yield savings accounts don’t charge fees or have any opening deposit requirements. However, you don’t have to limit your search to student savings accounts to get these same benefits. With that in mind, they typically don’t charge fees. They’re designed to be an entry point for young adults who are not earning much cash. Savings accounts for college students, on the other hand, typically don’t have as many requirements. But in some cases, they come with extra hurdles you’ll need to clear, such as hitting a minimum balance threshold. High-yield savings accounts are designed to deliver higher returns on your money than traditional savings accounts. The difference between a high-yield savings account and a savings account for college students Both a checking and savings account option.$10 sign-up bonus when you deposit $10 within the first five days of account opening.If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.įor details on our best products and how we chose them click here. Credit union deposits are insured by the National Credit Union Administration.Ĭonsumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers’ terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. Those with a paid link are our Advertisers. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. This table does not include all companies or all available products.Īll rates are subject to change without notice and may vary depending on location. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. Institutions may have different rates on their own websites than those posted on. Bankrate cannot guarantee the accuracy or availability of any rates shown. The rate information is obtained by Bankrate from the listed institutions.
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