The Best Savings Account for College-Bound Students

Students who take control of their finances and begin saving for college before they graduate will be a step ahead of their peers. But it can be hard to figure out what savings accounts are best for college-bound students. 

We took a look at some of the best savings accounts out there and outlined them here for you to review. As always, it’s essential to do some research and ensure that the account you choose helps you reach your goals. 

The Best Savings Account for College-Bound Students

When it comes to saving money, the best savings accounts are ones that accumulate high interest while your money sits there. 

That means that by putting your money in the account, you can sit back, study, and let more money roll in. Let’s take a look at the various account that might work for you.

American Express National Bank

Earn more interest than your average savings account with American Express National Bank. 

  • 0.04% APY with no min to earn
  • 24/7 excellent customer service
  • Link account to Quicken or Quickbooks
  • $0 monthly fees, competitive rates

Marcus by Goldman Sachs

  • 0.50% APY 
  • No minimum balance and no fees
  • Same-day transfers of $100,000 or less
  • FDIC insured

Chime

The opportunity to manage accounts from your phone while earning interest. 

  • Earn 0.05% APY 
  • Deposits are FDIC insured
  • No minimum, monthly, or overdraft fees

Citi® Accelerated Savings

  • Earn 0.05% APY, select markets only
  • Grow your money safely and securely 
  • No min deposit. Member FDIC

Axos

  • Earn up to 0.61% APY
  • No minimum monthly balance
  • No maintenance fees

One

  • Unlock 3.00 APY with Auto-Save
  • No fees, no minimums
  • Get paid up to 2 days early

Each of the above accounts is an excellent option for students looking for more options when saving for college. Take a look through each website and determine what account is the right fit for your goals and financial needs.