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- Select banks and credit unions have bank accounts with special budgeting tools.
- Our list covers accounts that let you separate your savings into specific goals.
- You’ll need to set up online or mobile banking to manage these goals.
Saving money for personal finance goals can be a tall task if you don’t know where to start. Some financial institutions have bank accounts with budgeting tools, though, which you can use to separate your savings into specific goals or create a budget.
Fees
$5.99 monthly subscription or $47.99 annual subscription
Fees
$5.99 monthly subscription or $47.99 annual subscription
On Simplifi by Quicken’s website
Simplifi by Quicken
Details
Fees
$5.99 monthly subscription or $47.99 annual subscription
Pros & Cons
Highlights
Additional Reading
If you’re looking to open or switch to a new account that helps you maintain financial goals, we’ve put together a list of bank accounts with these features. Our list includes the best credit unions, the best online banks, and the best high-yield savings accounts included in our best product guides.
Bank accounts with savings tools
1. Alliant Credit Union
Alliant High-Rate Savings Account
Annual Percentage Yield (APY)
3.10%
Minimum Deposit Amount
$30 online/phone and $5 through paper, banking, loan applications
Fees
no monthly service fee
Alliant High-Rate Savings Account
Annual Percentage Yield (APY)
3.10%
Minimum Deposit Amount
$30 online/phone and $5 through paper, banking, loan applications
Fees
no monthly service fee
Alliant Credit Union, NCUA insured.
Alliant High-Rate Savings Account
Alliant is one of the best credit unions out there, especially if you want to earn high interest rates on savings, checking, and certificates.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
3.10%
Minimum Deposit Amount
$30 online/phone and $5 through paper, banking, loan applications
Pros & Cons
Highlights
Additional Reading
How savings tool works: Alliant’s savings account offers “supplemental savings accounts,” which let you save for specific goals. Add goals by logging in to online banking. Select a new account under your existing Alliant Account. When you select “supplemental savings,” you’ll be prompted to add your savings account.
2. Ally
Ally Savings Account
Annual Percentage Yield (APY)
4.25%
Minimum Deposit Amount
$0
Fees
no monthly service fee
Ally Savings Account
Annual Percentage Yield (APY)
4.25%
Minimum Deposit Amount
$0
Fees
no monthly service fee
Ally Savings Account
The Ally High Yield Savings Account is a great option for anyone who wants savings tools to help save for specific financial goals, or prioritizes an account that doesn’t charge standard bank fees. You may earn 4.15% APY, and the account doesn’t have any requirements for earning interest. However, keep in mind that the best high-yield savings accounts pay up to 5.50% APY right now.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
4.25%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: Ally lets you open savings buckets for different goals. Log in to online banking and create new buckets when you click on your savings account. You’ll also be able to track and set deadlines for goals.
3. Barclays
Barclays Online Savings Account
Annual Percentage Yield (APY)
4.35%
Minimum Deposit Amount
$0
Fees
no monthly service fee
Barclays Online Savings Account
Annual Percentage Yield (APY)
4.35%
Minimum Deposit Amount
$0
Fees
no monthly service fee
Barclays Bank, Member FDIC
Barclays Online Savings Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
4.35%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: Set up savings goals through the Barclays app. You’ll need to select a bank account to start a new goal.
4. Capital One
Capital One 360 Performance Savings
Annual Percentage Yield (APY)
4.30% (as of 7/21/23)
Minimum Deposit Amount
$0
Fees
no monthly service fee
Capital One 360 Performance Savings
Annual Percentage Yield (APY)
4.30% (as of 7/21/23)
Minimum Deposit Amount
$0
Fees
no monthly service fee
Capital One 360 Performance Savings
Capital One is a strong bank overall. You’ll earn competitive interest rates on online savings accounts and CDs.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
4.30% (as of 7/21/23)
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: Capital One’s bank accounts allow you to establish goals through the bank’s mobile app. You’ll also be able to set deadlines and monitor your progress.
5. Chase
Chase Savings℠
Annual Percentage Yield (APY)
0.01% (as of 3/24/2023)
Minimum Deposit Amount
$0
Fees
$5 monthly service fee
Chase Savings℠
Annual Percentage Yield (APY)
0.01% (as of 3/24/2023)
Minimum Deposit Amount
$0
Fees
$5 monthly service fee
Chase Savings℠
Details
Fees
$5 monthly service fee
Annual Percentage Yield (APY)
0.01% (as of 3/24/2023)
Interest rates are variable and subject to change
Show more
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: Chase allows you to create three types of goals: safety net, custom goals, and general savings. A safety net helps you establish an emergency fund. Custom goals help save for occasions you’d like to save for — for example, vacations or birthdays. General savings is where you will keep savings that aren’t for specific occasions.
6. Connexus Credit Union
Connexus Credit Union Members Savings Account
Annual Percentage Yield (APY)
0.25%
Minimum Deposit Amount
$5
Fees
no monthly service fee
Connexus Credit Union Members Savings Account
Annual Percentage Yield (APY)
0.25%
Minimum Deposit Amount
$5
Fees
no monthly service fee
On Connexus Credit Union’s website
Connexus Credit Union Members Savings Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.25%
Minimum Deposit Amount
$5
Pros & Cons
Highlights
Additional Reading
How savings tools work: Connexus Digital Banking offers a savings goal feature. Implement the savings goal feature in online banking, so you’re able to assign target amounts.
7. Current Account
Current Account
Annual Percentage Yield (APY)
up to 4.00%
Minimum Deposit Amount
$0
Fees
no monthly service fee
Current Account
Annual Percentage Yield (APY)
up to 4.00%
Minimum Deposit Amount
$0
Fees
no monthly service fee
Current Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
up to 4.00%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tools work: Current is a mobile banking platform with banking products for adults and teens. The Current Account has a special feature called a Savings Pod. You can create a Savings Pod through the platform’s mobile app to save for a specific goal. You’ll also be able to add an image and description. Each pod may hold a maximum of $2,000 and earn up to 4.00% APY (Annual Percentage Yield).
8. Daylight Account
Daylight Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Fees
no monthly service fee
Daylight Account
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Fees
no monthly service fee
Daylight Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tools work: Daylight is a mobile banking platform that serves and supports LGBTQ+ folks. Through the mobile app, you’ll be able to set up and track individual financial goals.
If you plan to have a gender-affirming surgery in the future, Daylight also has a guided goal feature, which has a virtual assistant that can help you understand more about the process.
9. LendingClub
LendingClub Rewards Checking Account
Annual Percentage Yield (APY)
0.00% to 0.15%
Minimum Deposit Amount
$25 to open, $2,500 to earn interest and 1% cash back on purchases
Fees
no monthly service fee
LendingClub Rewards Checking Account
Annual Percentage Yield (APY)
0.00% to 0.15%
Minimum Deposit Amount
$25 to open, $2,500 to earn interest and 1% cash back on purchases
Fees
no monthly service fee
LendingClub Bank, FDIC Insured
LendingClub Rewards Checking Account
LendingClub has a solid rewards checking account; it lets you earn 1% cash back on qualified debit card purchases if you have $2,500 in your account.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.00% to 0.15%
Minimum Deposit Amount
$25 to open, $2,500 to earn interest and 1% cash back on purchases
Pros & Cons
Highlights
Additional Reading
How savings tool works: LendingClub has a special mobile feature for checking accounts called Goalkeeper. To access Goalkeeper, log in to mobile banking and create a goal for anything you’d like.
10. NBKC Bank
NBKC Everything Account
Annual Percentage Yield (APY)
1.50%
Minimum Deposit Amount
$0
Fees
no monthly service fee
NBKC Everything Account
Annual Percentage Yield (APY)
1.50%
Minimum Deposit Amount
$0
Fees
no monthly service fee
NBKC Everything Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
1.50%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: NBKC has a hybrid checking/savings account. Set up individual goals through the account through online and mobile banking.
11. One
ONE account
Annual Percentage Yield (APY)
up to 5.00%
Minimum Deposit Amount
$0
Fees
no monthly service fee
ONE account
Annual Percentage Yield (APY)
up to 5.00%
Minimum Deposit Amount
$0
Fees
no monthly service fee
ONE account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
up to 5.00%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: ONE simplifies banking with a hybrid checking/savings account. You’ll be able to manage individual goals or through what are called pockets. You’ll start with three pockets: a Spend Pocket, a Save Pocket, and an Auto-Save Pocket (for automatic savings deposits). You may also add more pockets for customizable goals.
12. Qapital Goals Account
Qapital Goals Account
Annual Percentage Yield (APY)
0.10%
Minimum Deposit Amount
$0.01
Fees
30-day free trial then Basic ($3 monthly), Complete ($6 monthly), or Premier Plan ($12 monthly)
Qapital Goals Account
Annual Percentage Yield (APY)
0.10%
Minimum Deposit Amount
$0.01
Fees
30-day free trial then Basic ($3 monthly), Complete ($6 monthly), or Premier Plan ($12 monthly)
Qapital, FDIC Insured Account
Qapital Goals Account
Details
Fees
30-day free trial then Basic ($3 monthly), Complete ($6 monthly), or Premier Plan ($12 monthly)
Annual Percentage Yield (APY)
0.10%
Minimum Deposit Amount
$0.01
Pros & Cons
Highlights
Additional Reading
How savings tool works: Qapital is a mobile banking platform that can help you save and invest. If you open the Qapital Goals Account, you’ll be able to use unique savings tools called “Rules.” When you apply a Rule, any money saved will go toward a goal set up in your Goals Account.
For example, let’s say you use “The 52 Week Rule.” Every week, some money will be transferred into your account until you have $1,378 saved up over the course of 52 weeks.
13. Regions Bank
Regions LifeGreen® Savings Account
Annual Percentage Yield (APY)
0.01%
Minimum Deposit Amount
$5 at a branch, $50 online
Fees
no monthly service fee
Regions LifeGreen® Savings Account
Annual Percentage Yield (APY)
0.01%
Minimum Deposit Amount
$5 at a branch, $50 online
Fees
no monthly service fee
Regions Bank, Member FDIC
Regions LifeGreen® Savings Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.01%
Minimum Deposit Amount
$5 at a branch, $50 online
Pros & Cons
Highlights
Additional Reading
How savings tool works: MyGreenInsights is a unique online banking feature if you have a Regions bank account. You’ll be able to create a budget and establish goals for how much you’d like to save or spend in a certain area.
14. Sallie Mae
Sallie Mae SmartyPig Account
Annual Percentage Yield (APY)
4.25%
Minimum Deposit Amount
$0 ($0.01 balance to earn interest)
Fees
no monthly service fee
Sallie Mae SmartyPig Account
Annual Percentage Yield (APY)
4.25%
Minimum Deposit Amount
$0 ($0.01 balance to earn interest)
Fees
no monthly service fee
Sallie Mae SmartyPig Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
4.25%
Minimum Deposit Amount
$0 ($0.01 balance to earn interest)
Pros & Cons
Highlights
Additional Reading
How savings tool works: Through Sallie Mae’s savings accounts, you’ll be able to set up specific savings goals online and monitor them.
15. Sofi
SoFi Checking and Savings
Annual Percentage Yield (APY)
up to 4.50%
Minimum Deposit Amount
$0
Fees
no monthly service fee
SoFi Checking and Savings
Annual Percentage Yield (APY)
up to 4.50%
Minimum Deposit Amount
$0
Fees
no monthly service fee
SoFi Checking and Savings
SoFi Checking and Savings is a great account option if you don’t mind keeping your savings and checking in one account.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
up to 4.50%
SoFi members with direct deposit can earn up to 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.50% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/2/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
Show more
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: You can set individual goals through SoFi’s Money Vaults. Create categories for Money Vaults through online or mobile banking.
16. Wealthfront
Wealthfront Cash Account
Annual Percentage Yield (APY)
4.80%
Minimum Deposit Amount
$1
Fees
no monthly service fee
Wealthfront Cash Account
Annual Percentage Yield (APY)
4.80%
Minimum Deposit Amount
$1
Fees
no monthly service fee
Wealthfront, FDIC Insured Account
Wealthfront Cash Account
The Wealthfront Cash Account is a solid high-yield checking account. But if you’re looking to open a separate savings account, take a look at our best high-yield savings accounts guide.
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
4.80%
Minimum Deposit Amount
$1
Pros & Cons
Highlights
Additional Reading
How savings tool works: Save for distinct savings goals through Wealthfront’s mobile app. You can also set up goals, so they’re completed in a specific order.
17. Wings Financial
Wings Financial High-Yield Savings Account
Annual Percentage Yield (APY)
0.10% to 1.56%
Minimum Deposit Amount
$0
Fees
no monthly service fee
Wings Financial High-Yield Savings Account
Annual Percentage Yield (APY)
0.10% to 1.56%
Minimum Deposit Amount
$0
Fees
no monthly service fee
On Wings Financial Credit Union’s website
Wings Financial High-Yield Savings Account
Details
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.10% to 1.56%
Minimum Deposit Amount
$0
Pros & Cons
Highlights
Additional Reading
How savings tool works: Money Tracker is a special mobile banking feature for Wings Financial Credit Union account holders. You’ll be able to create goals and track them each month. Money Tracker also lets you establish a budget and assign categories for spending.
Frequently asked questions
Brian Walsh, CFP® professional and senior manager of financial planning at SoFi, says budgeting tools can play an important role in the way a person manages their finances.
“People who use budgeting tools are actually much more likely to spend more responsibly, have an emergency, fund, pay off their credit cards, have a retirement account — all these great things when it comes to their personal finances. There is significant research that shows that using these types of tools can be very powerful for everyday people,” Walsh says.
You’ll need to set up online banking and have money deposited into your account to utilize the budgeting tools for most of the accounts listed. Once you set up an account, you can separate your savings into specific goals.
Walsh says budgeting tools are helpful for people who would prefer to have a general idea of where their money is going but don’t want granular details or specifics.
“Most people, they just want a high-level overview, and they want it in the palm of their hand. So, it can help them kind of nudge them into making slightly more responsible decisions on their spending,” adds Walsh.
If you find it overwhelming to save for goals using a spreadsheet or calculator, a bank account with budgeting tools may ultimately provide a unique option worth exploring.
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