Looking to open a savings account? Use this tool to compare your options

Having a savings account with a healthy amount of cash is an important part of one’s financial health. And because everyone’s finances are unique, there’s no one-size-fits-all account that will work the best for your money.

For instance, a high-yield savings account can help keep your emergency fund safe and accessible and allow you to continually contribute toward meeting your financial goals. Some of these accounts can also serve as a safe investment vehicle by earning you interest. Certain accounts are great for small deposits, while others are perfect for larger sums.

When picking a savings account, it’s crucial to explore your options to find what will work best for your situation. To help with that, CNBC Select has launched a Savings Marketplace.

The Marketplace helps you compare different accounts with a single glance to find one that matches your needs and goals. You can browse various account types based on your location and how much you want to deposit. The tool is free to use, and you won’t have to enter any personal information to compare the offers.

Click here to check out CNBC Select’s Savings Marketplace

Currently, CNBC Select’s Savings Marketplace lets you search for the following types of accounts:

  • Online savings / High-yield savings: You can access and manage an online savings account without having to visit a physical location. Plus, these accounts typically offer highly competitive interest rates.
  • Money market: A money market account has certain features of a checking account, such as the ability to use a debit card or write checks, while also offering a higher interest rate compared to a traditional checking account.

Whether you’re opening your first savings account or looking to add another account to your existing savings strategy, the Savings Marketplace can help you easily compare your options and find the right account for your goals in just a few clicks.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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