Benefits of Savings Accounts for Students in Top Banks in the Country

Benefits of Savings Accounts for Students in Top Banks in the Country

Benefits of savings accounts for students in top banks in the country
Many top banks and financial institutions offer savings accounts for students with varying benefits. Looking at the benefits of savings accounts for students as offered by these banks makes it difficult to choose between them. So how do you know you are getting the best?

To help you out, here are the benefits of savings accounts for students as offered by some of the best banks in the country at the moment:

  • HSBC
    HSBC has consistently been one of the best banks to open a savings account. It yields high interest, and the process of opening an online account with this bank barely takes a few minutes. This is something very simple and you can do it between classes.
    The online savings account is known as an HSBC Direct Savings account, and it offers account holders a fabulous APY of over 2 percent, which is one of the best out there. Once you open an account, you get access to many benefits, including mobile check deposit facility, access to electronic statements, online transfers, and so much more. Additionally, HSBC is FDIC insured, so you know that your money is safe.
  • BBVA USA
    This is a bank that not too many have heard of, which is surprising considering the many benefits it offers its account holders. The benefits offered by this bank include four free withdrawals per statement cycle, 24/7 access to banking through the BBVA mobile banking app, and no fees on withdrawals at any BBVA ATMs across the country. The online savings account can be opened with an affordable amount of $25, and you can also link to a BBVA checking account to access the facility of overdraft protection.
    BBVA USA currently offers a standard APY across all savings, but they are known to offer a higher yield to accounts with higher balances at times. That is definitely a plus point to save more with this bank.
  • Marcus
    Marcus by Goldman Sachs® is another name that is not too familiar. Yet, when looking at the benefits of savings accounts for students as offered by leading banks and financial institutions, this name should be mentioned. Marcus offers many financial products like high-yield savings accounts and high-yield CDs. What works great for students is that the savings accounts have no minimum balance limit. In fact, if we are to look at the details, the minimum deposit with Marcus Online Saving is $1, and there are no account fees, which is a fabulous deal for any student.
    The APY is also good at 1.70%, and Marcus is FDIC insured, so you can deposit your money and rest easy. Additionally, they are generous with transfers and withdrawals and allow up to six per month. All of these benefits make Marcus a great choice for a student savings account.