Best Bank Accounts of 2021

Savings Accounts

A savings account is a grown-up version of a kid's piggy bank. You're putting money away - the reasons could vary from saving up to take a vacation to having an emergency fund - that you're not planning to spend any time soon. Savings accounts pay interest on your money, and these accounts come with rules on how often you can withdraw your funds. Our savings account guide explains these rules and others, such as how maintaining a minimum balance can help you avoid fees or boost your interest rate.

CD Accounts

A certificate of deposit may be your best way to get the highest interest on your savings. However, in exchange for the higher interest rate, you must agree not to touch the money in your CD account for a set period. It could be months or it could be years. If you withdraw funds from your certificate of deposit before the maturity date, you could lose some of your money. Our guide to CDs lays out the workings of these accounts and how to find the right one for you.

Checking Accounts

Think of a checking account as a parking spot for your money. Then think of what you'd want in a parking spot - it's a lot like what you'd want in a checking account. You want it accessible, convenient, reasonably priced and safe. Our checking account guide gives you the basics: opening an account, depositing, withdrawing, facing fees, paying bills, plus what to look for in a checking account.

Money Market Accounts

A money market account is a kind of savings account that may appeal to some savers. The biggest advantage is that money market accounts generally pay higher interest. In addition, MMAs may offer the convenience of coming with checks. Along with the higher interest, though, you may need to make a higher deposit and maintain a higher minimum balance in your MMA. Our guide to money market accounts explains the ins and outs of these accounts and the features you should look for.

Online Banks

No tellers, no branch managers, no drive-thrus - online banks exist without brick-and-mortar sites that you can visit. But with the prevalence of customers who do their banking by logging on, this may not present any issue. You may find that online banks have some advantages, such as better rates and lower fees. Our guide to online banks looks at financial institutions that offer the products and services of traditional banks while existing solely in the digital world.

Credit Unions

In a lot of ways, a credit union is just like a bank - credit unions offer the same kind of accounts and services. And with their networks, credit unions may have just as many ATMs and branches as regional and national banks. But a larger difference is that credit unions are not-for-profit organizations. This often translates into better rates for savers and lower interest on loans. Our guide to credit unions explains how they work, how you can join and how they might be an alternative for your banking needs.

Student Accounts

Part of what you learn as a college student may be how to handle your money. And since you need a place to put your money, you may want to consider student bank accounts. Such accounts can offer features geared to college students, such as reduced fees, and financial institutions could come with the convenience of campus locations. Our guide to student accounts tells you what to look for when you choose a bank for your college years.