CNBC's top big bank savings accounts for 2024.

The APYs listed in this article are accurate as of the time of publication. They may change as the Fed rate fluctuates. CNBC Select will update as new information becomes available.

Although online-only banks are becoming increasingly popular, many individuals may still prefer traditional banks due to their extensive network of physical branches. With a bank account at a physical institution, you can easily deposit or withdraw cash at a nearby branch or one of the bank's numerous ATMs without any fees.

Online banks are ideal for those who value lower fees and higher interest rates on savings accounts, but may sacrifice personal, face-to-face customer service. This is because brick-and-mortar banks have high overhead costs to operate their branches, which are usually passed on to their customers in the form of higher fees and lower interest rates.

In 2024, CNBC Select evaluated and compared numerous savings accounts from major banks and credit unions to determine which ones are the best. We took into account factors such as the number of physical branches and ATMs, savings account fees, opportunities to earn higher interest rates, customer service, and any special offerings or programs. (For more information on our methodology, please refer to our article.)

Best at Bank of America

The Bank of America Advantage Savings account is unique because of the exclusive rewards programs that can be obtained when using a Bank of America credit card or opening a checking account in conjunction with the savings account. Account holders can earn up to 15% cash back on select eligible purchases at stores, restaurants, and more with BankAmeriDeals® when using a Bank of America debit or credit card.

New account holders with the Bank of America Advantage Savings account are exempt from the $8 monthly maintenance fee for the initial 6 months, with a minimum opening deposit of $100.

To avoid paying the monthly fee, customers can maintain a minimum daily balance of $500, link their savings account to their Bank of America Advantage Relationship Banking® checking account, or become a Bank of America Preferred Rewards member. Additionally, students under 24 who are enrolled in school may also qualify for a waiver.

The Bank of America Preferred Rewards program has three tiers based on your 3-month average daily balance across your deposit and Merrill Lynch/Merrill Edge investment accounts. To qualify, you must have an eligible Bank of America personal checking account. The tiers are Gold, Platinum, and Platinum Honors, with a $20,000 minimum balance required.

If you enroll in the Preferred Rewards program, you may receive an elevated APY ranging from 0.02% to 0.04%, otherwise, the standard APY is 0.01%.

To enhance your savings practices, you may want to join Bank of America's Keep the Change program, which enables account holders to round up their debit card transactions and automatically transfer the extra amount into their savings account. Additionally, customers can utilize the Bank of America mobile app to interact with Erica, a virtual assistant that offers tailored and prompt financial guidance.

There are over 4,000 bank branches and 16,000-plus ATMs across the country. For each withdrawal over 6 per month, a $10 fee is applied. Additionally, there is overdraft protection when linking your savings account to your checking account.

Best at Wells Fargo

For those seeking the largest brick-and-mortar bank in the nation by the number of branches, Wells Fargo Bank is the ideal choice. With over 5,400 physical locations and 13,000 ATMs, Wells Fargo offers ample in-person access for account holders.

The Platinum Savings account from Wells Fargo has a higher minimum daily balance requirement to avoid the monthly service fee ($12 per month) compared to the Way2Save® Savings account, which has a lower requirement ($5 per month). As a result, CNBC Select deemed Way2Save as the better savings account option.

To avoid fees, account holders can either maintain a minimum daily balance of $300 or set up automatic transfers of $25 per month from their checking to savings.

With Wells Fargo's Save As You Go feature, customers can easily set aside cash by automatically transferring $1 from their linked checking account to their Way2Save account for each qualifying non-recurring debit card purchase or online bill payment made through Wells Fargo Online® Bill Pay. To achieve their savings goals faster, customers can also set up additional automatic transfers from their checking account each month.

This savings account requires a minimum opening deposit of $25, and those who link a Wells Fargo checking account can choose to have overdraft protection. The current APY on this account is 0.15%.

Best at Chase Bank

For those seeking a broad network of ATMs to avoid out-of-network fees and a higher APY, Chase offers savings accounts.

Chase Bank has over 4,900 branches and 16,000 ATMs. Like Wells Fargo, Chase offers two brick-and-mortar savings accounts: the standard Chase Savings℠ and the Chase Premier Savings℠. CNBC Select ranked the latter as one of the best because you can earn better interest rates (what Chase calls "relationship rates") on higher balances by linking your savings to a Chase Premier Plus Checking℠ or Chase Sapphire℠ Checking and making at least five transactions in a month using your linked checking account.

If you don't link your Chase Premier Savings account to a Chase checking account, the APY is 0.01%. However, if you have a linked account, the APY increases slightly. For instance, you can earn 0.02% APY if you also have a Premier Plus Checking or Chase Sapphire Checking account.

To avoid the monthly $25 service fee, you can link your checking account to your Chase Premier Savings account. Otherwise, you need to maintain a daily minimum balance of $15,000. There is no minimum deposit required to open an account.

By linking a Chase Sapphire Checking account, you can enjoy Sapphire℠ Banking perks, such as exclusive access to sports and entertainment events and early ticket sales.

The bank's mobile app offers an automatic savings program that helps customers achieve their savings goals.

Withdrawing more than six times in a month, whether at a branch or an ATM, results in a $5 fee. This fee is waived if the account balance is $15,000 or more at the time of withdrawal.

Best at U.S. Bank

For those seeking a straightforward, low-cost savings account at a major bank, U.S. Bank's Standard Savings Account is the ideal choice.

U.S. Bank has fewer branches and ATMs than other national banks, primarily in the Midwest and Western regions of the U.S. Nevertheless, the Standard Savings Account is a simple choice if you reside near a U.S. Bank location.

Account holders who meet certain criteria can have their monthly maintenance fee waived. These criteria include having a $300 minimum daily balance, a $1,000 average monthly collected balance, or being under 18. To open an account, potential savers need to make a minimum deposit of $25. The monthly maintenance fee is $4.

You can enjoy overdraft protection when linking your U.S. Bank checking account to your savings account, which offers an APY of 0.01% on all balances.

Best at Citibank

This account is suitable for individuals who value advanced online banking tools but also require the convenience of physical locations.

Although Citibank is the third-largest bank in the country, it has significantly fewer branches than some of its competitors, with only around 700 locations in the U.S. Despite this, customers can still access over 65,000 surcharge-free ATMs and utilize a range of online banking features, including mobile check deposit, seamless transfers, and easy online bill payments.

Citi offers a higher APY than its brick-and-mortar competitors, with a 0.05% APY for basic customers and the potential to earn up to 1.01% APY depending on your Citi account tier.

Customers can avoid paying the low monthly fee by maintaining a minimum daily balance of at least $500 or linking their savings account to their checking account and either making one enhanced direct deposit and one qualifying bill payment per statement period or maintaining a $1,500 average monthly collected balance.

Best at PNC Bank

PNC Bank is a prominent brick-and-mortar bank with over 2,300 branches and 18,000 ATMs. What sets it apart is its Virtual Wallet® savings account, which utilizes advanced online tools to simplify daily money management.

This account is ideal for individuals who want to manage all their banking needs in one place, as it offers rewards for combining savings and checking accounts. New account holders can receive a welcome bonus of up to $400, depending on the type of Virtual Wallet they choose. There are three options available: Virtual Wallet, Virtual Wallet with Performance Spend, and Virtual Wallet with Performance Select. The basic Virtual Wallet includes standard account features, while the two other options provide more premium rewards. Additionally, there is a Virtual Wallet Student option for those enrolled in school.

All Virtual Wallet options feature individual accounts that work in unison: Spend for everyday checking, Reserve for interest-bearing checking and primary overdraft protection, and Growth for long-term savings and secondary overdraft protection. Higher "relationship" interest rates are available on the Growth savings account.

The cost of monthly Virtual Wallet service charges varies from $7 to $25, based on the type of Virtual Wallet you have, and can be eliminated if you maintain minimum balances in your Spend + Reserve checking accounts (the minimum balance and deposit requirements differ according to the type of Virtual Wallet you have).

PNC-owned ATMs allow Virtual Wallet account holders to make free transactions, and some fees are reimbursed if they use non-PNC ATMs.

Customers can earn cash back or points on purchases made with their PNC Bank Visa® Debit Card through the PNC Purchase Payback® program, which is automatically issued upon signing up for Virtual Wallet. The program offers customized rewards from participating merchants based on shopping habits.

While it is possible to open a Virtual Wallet account online, PNC also invites customers to visit their local branch to open an account and receive a coupon printout of the welcome bonus that savers can bring with them to redeem. For current APY information, call 1-888-PNC-BANK (1-888-762-2265).

PNC Bank also provides a Standard Savings Account.

Common savings account terms you should know

• The yearly interest earned by an account is referred to as the Annual Percentage Yield (APY).
• In-service or out-of-network ATMs are available depending on your bank. If you use an ATM that is not part of your bank's network, both the ATM operator and your bank may charge a fee for the transaction.
• Automatic coverage of negative checking account balances is provided when linked to a savings account through overdraft protection.

Why trust CNBC Select?

Our mission at CNBC Select is to deliver top-notch service journalism and in-depth consumer advice to our readers, enabling them to make well-informed decisions when it comes to their finances. Each brick-and-mortar savings account review we publish is the result of thorough reporting by our team of expert writers and editors, who possess extensive knowledge of banking products. At CNBC Select, we are committed to maintaining our journalistic standards and ethics, even when we earn a commission from our affiliate partners on many offers and links. To learn more about our methodology and how we select the best big bank savings accounts, please refer to our detailed guide.

Our methodology

CNBC Select analyzed numerous U.S. savings accounts from big banks and credit unions to determine the best options. We focused on accounts from banks with extensive availability, providing access to at least 700 physical branches and over 4,000 non-fee ATMs in the U.S.

We compared the largest banks' savings accounts based on various features, including fees, interest rates, customer service, and special programs. We also evaluated factors such as insurance policies, deposit options, other savings accounts offered by the same bank, and customer reviews.

All accounts on this list are FDIC-insured up to $250,000. Interest rates and fee structures for brick-and-mortar savings accounts may change without notice. Product and feature availability may vary depending on location. To open a savings account, most banks and institutions require a deposit of new money.