As we move further into 2023, finding the best savings account for high yield savings has become more important than ever before. With inflation rates steadily increasing and interest rates remaining low, it’s essential to make the most of your savings and ensure that they are earning the maximum interest possible.

To help you find the best savings accounts for high yield savings in 2023, we’ve conducted extensive research and analysis of the current market. Here are our top picks:

1. Ally Bank Online Savings Account: Ally Bank is one of the most popular online banks in the US, and their online savings account offers a competitive interest rate of 0.50%. There are no monthly fees, and you can easily manage your account through their mobile app or online portal.
2. Marcus by Goldman Sachs Online Savings Account: Marcus by Goldman Sachs offers a high yield savings account with an APY of 0.55%. There are no monthly fees or minimum deposit requirements, and you can access your account through their mobile app or website.
3. Discover Online Savings Account: Discover Bank’s online savings account offers a high APY of 0.50% with no monthly fees and no minimum balance requirements. You can easily manage your account through their mobile app or website, and they also offer a wide range of other financial products and services.
4. Capital One 360 Performance Savings: Capital One 360 Performance Savings account offers a competitive APY of 0.50% with no monthly fees or minimum deposit requirements. They also offer a mobile app and online banking platform, making it easy to manage your account from anywhere.
5. Synchrony Bank High Yield Savings Account: Synchrony Bank offers a high yield savings account with an APY of 0.55%. There are no monthly fees or minimum balance requirements, and you can easily manage your account through their mobile app or online portal.

When choosing a high yield savings account, it’s important to consider not only the interest rate but also any fees or minimum deposit requirements. It’s also important to ensure that the bank is FDIC-insured, which means that your deposits are protected up to $250,000 per account.

In conclusion, while interest rates remain low, it’s still possible to find high yield savings accounts that offer a competitive APY. By comparing different accounts and choosing one that suits your needs and preferences, you can make the most of your savings and ensure that your money is working hard for you in 2023.