High Yield Savings Account in Idaho

Let’s delve into the basics of the best high yield savings account in Idaho and explore the diverse options tailored to suit various financial needs and preferences. Furthermore, get details into how to improve your savings and grow your money with Beem.
High Yield Savings Account in Idaho
High Yield Savings Account in Idaho
The demand for a high yield savings account in Idaho has surged with the evolving financial market. Online options have become increasingly popular due to their convenience and competitive interest rates. Let's understand how to get the best high yield savings account in Idaho and grow your money with Beem.
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Idaho, known for its natural beauty and flourishing economy, presents a promising landscape for individuals seeking to maximize their savings. The demand for a high yield savings account in Idaho has surged with the evolving financial market. Online options have become increasingly popular due to their convenience and competitive interest rates. 

Let’s delve into the basics of the best high yield savings account in Idaho and explore the diverse options tailored to suit various financial needs and preferences.

Best High-Yield Savings Accounts in Idaho

In the realm of online high-yield savings accounts, Idaho residents have a plethora of options offering attractive interest rates and user-friendly interfaces. These accounts provide the flexibility to manage finances efficiently, catering to the digital demands of the modern era. Here is a list of Idaho’s best online high-yield savings accounts.

Bank NameMinimum DepositAPYMonthly FeesAdditional Features
Beem – High Yield Savings$1005%None24/7 customer support
CIT Bank$01.15%NoneEasy online application process
American Express® Bank$11.10%NoneNo minimum balance requirement
Barclays$11.20%NoneAccess to a robust mobile app
Marcus by Goldman Sachs$5001.30%NoneNo transaction fees
Bread Savings™$1001.25%NoneUser-friendly mobile check deposits
Table1.0: Here is a table with information on the best online high savings accounts in Idaho

Ensure to verify the latest information and terms directly with the respective banks or visit their official websites for more details.

1. Beem – High-Yield Savings

In the ever-evolving landscape of personal finance, securing a high-yield savings account has become a fundamental strategy for individuals striving to maximize their savings potential.

Beem High Yield Savings Account emerges as a beacon of financial opportunity, offering an innovative platform to help users elevate their savings and achieve their long-term financial aspirations.

With a strong emphasis on competitive Annual Percentage Yield (APY), seamless digital banking solutions, and a commitment to providing a fee-free experience, Beem distinguishes itself as a reliable and efficient option for those seeking to optimize their savings journey.

By prioritizing user accessibility and financial empowerment, Beem embodies a dedication to fostering a robust and rewarding banking experience for its customers, driving financial growth and prosperity.

Beem High Yield Savings Account offers a lucrative opportunity for individuals to amplify their savings while enjoying a seamless banking experience. With a focus on competitive interest rates and user-friendly digital features, Beem stands out as a reliable option for optimizing their financial growth. Its robust advantages include:

  • Competitive APY: Beem’s high yield ensures significant earnings, surpassing national averages.
  • No Monthly Fees: Eliminate unnecessary costs by enjoying a fee-free savings experience.
  • User-Friendly Mobile App: Access and manage your savings effortlessly through an intuitive mobile interface.
  • Seamless Account Management: Experience hassle-free account oversight and efficient fund transfers, enhancing overall financial convenience.

Beem High Yield Savings Account, committed to providing a rewarding and streamlined savings journey, empowers individuals to achieve their financial goals confidently and easily.

2. CIT Bank

CIT Bank, an online division of the renowned First Citizens Bank, offers a comprehensive suite of savings accounts tailored to accommodate various financial preferences and goals. Boasting a reputation for providing accessible and user-friendly banking services, CIT Bank prioritizes customer satisfaction and financial empowerment. While the slightly higher opening deposit might pose a minimal hurdle, the absence of monthly service fees and the opportunity to earn a competitive APY reflect CIT Bank’s commitment to fostering a rewarding and efficient customer savings experience.

Pros & Cons Of CIT Bank


  • The diverse range of savings account options
  • No monthly service fees
  • Competitive 5.05% APY with the Platinum Savings Account


  • $100 minimum opening deposit, slightly higher compared to some online banks
  • Limitation on ATM deposits

3. American Express® National Bank, Member FDIC

Operating beyond its renowned credit card services, American Express® National Bank offers a high-yield savings account with its consistently high Annual Percentage Yield (APY). Boasting a user-friendly approach simplifies the account opening process, allowing customers to manage their savings conveniently online while facilitating automatic deposits. Despite the lack of a debit card for ATM transactions and the absence of checking account options, American Express® National Bank’s dedication to providing a fee-free and accessible savings experience remains a prominent feature for those seeking a reliable savings solution.

Pros & Cons


  • Competitive APY from a reputable and well-established brand
  • No minimum balance requirements or monthly fees
  • 24/7 accessible customer support


  • The lack of a provided debit card restricts ATM use for withdrawals or deposits
  • Absence of checking accounts within their offerings

4. Bread Savings™

Formerly recognized as Comenity Direct, Bread has reemerged to provide a transparent and rewarding savings experience. With a reputation for consistently offering one of the highest interest rates in the market, Bread Savings™ appeals to savers seeking a seamless and fee-free banking solution. While the absence of ATM transaction support might impact accessibility, the user-friendly mobile app’s convenience and the absence of hidden fees solidify Bread Savings™ as a viable option for individuals aiming to maximize their savings potential.

Pros & Cons


  • Offers one of the highest APYs for savings accounts in the current market
  • No monthly maintenance fees ensure a fee-free savings experience
  • Convenient mobile check deposits are facilitated through a user-friendly app


  • Requires a minimum opening deposit of $100, which might pose a barrier for some savers
  • ATM transactions are not supported, potentially limiting accessibility for certain users

5. Barclays

Established over three centuries ago in London, Barclays Bank has recently garnered attention in the United States for its high-yield savings products.

With an emphasis on offering online savings accounts and CDs with superior APYs compared to traditional banks, Barclays emphasizes accessibility and transparency.

Despite the absence of ATM access and the sole availability of customer representatives via phone, Barclays’ commitment to providing a seamless online banking experience, coupled with FDIC membership ensuring deposit insurance up to $250,000, solidifies its position as a notable choice for those seeking a reliable and efficient savings solution.

Pros & Cons of Barclays High Yield Savings Account


  • There are no minimum deposit requirements, even for online CDs, fostering accessibility for all savers.
  • The absence of monthly maintenance fees ensures a cost-effective savings experience.
  • Convenient online access and seamless fund transfers streamline banking operations.


  • Lack of ATM access might pose limitations for users requiring physical transaction capabilities.
  • The sole availability of customer representatives via phone might limit immediate assistance options.

6. Marcus by Goldman Sachs

If you’ve been aspiring to engage with the renowned Goldman Sachs, exploring Marcus, its online arm, is a promising opportunity.

Marcus by Goldman Sachs offers a high-yield savings account accessible to everyone, emphasizing a fee-free and no minimum deposit approach.

While the absence of mobile deposits and debit cards for savings accounts may affect accessibility, Marcus by Goldman Sachs solidifies its commitment to providing a seamless and reliable banking experience through its robust online and mobile banking tools and a dedicated 24/7 customer service center.

Pros & Cons


  • No fees or minimum deposit requirements, fostering a cost-effective and accessible savings experience.
  • Robust mobile app and comprehensive money management tools streamline financial operations.
  • 24/7 accessible contact center ensures reliable and timely customer service support.


  • Mobile deposits are not offered, potentially limiting the convenience for some users.


For residents of North Idaho or qualified associations and organizations, STCU is a prominent option, providing access to some of the most competitive interest rates nationwide.

Notably, the credit union’s First5 Savings Account boasts an exceptionally high APY for the initial $500 deposited, positioning it as an appealing option for eligible members.

With a focus on user accessibility and flexibility through online and mobile banking and a fee-free and no minimum deposit policy, STCU remains a compelling choice for individuals seeking to optimize their savings potential.

Pros & Cons of STCU High Yield Savings Account


  • Exceptionally high APY on the initial $500 deposited in the First5 savings accounts, offering attractive earnings for eligible members.
  • Accessible online and mobile banking services ensure convenient and efficient account management.
  • The absence of monthly fees or minimum deposit requirements fosters a cost-effective and flexible savings experience.


  • APY on balances exceeding $500 experiences a significant decrease, potentially impacting overall interest earnings for larger deposits.

8. Cottonwood Community Federal Credit Union

Founded in 1942, Cottonwood Community Federal Credit Union has established itself as a community-oriented financial institution, offering above-average interest rates on savings accounts. The credit union provides a welcoming and inclusive financial environment with a membership scope encompassing residents, employees, worshipers, and students within Idaho and Lewis Counties. While the limited membership might restrict accessibility, the absence of monthly fees and the provision of shared branching facilities underline Cottonwood Community Federal Credit Union’s dedication to providing a seamless and beneficial banking experience for its members.

Pros & Cons of Cottonwood Community Federal Credit Union Savings Account


  • A member-owned credit union offering above-average APYs, ensuring competitive returns for its members.
  • No monthly account fees, fostering a cost-effective and accessible savings experience.
  • Shared branching facilities enable convenient transactions at various participating credit union locations, enhancing accessibility and convenience for members.


  • Limited availability of physical branches outside the specified region may pose challenges for members requiring in-person assistance.

9. The Bank of Commerce – E-Savings Account

The Bank of Commerce’s E-Savings Account emerges as a top pick for streamlined savings management, emphasizing a no minimum balance requirement and no per-item fees. Offering a range of online banking functionalities, including Bill Pay, direct deposit, and external electronic transfers, the account prioritizes convenience and accessibility. With the additional benefit of a user-friendly mobile app, The Bank of Commerce strives to facilitate efficient and user-friendly savings experiences for its customers. However, limited disclosure of interest rates and exclusive online statement provisions may impact the overall appeal of the account for individuals seeking transparent and flexible savings solutions.

Pros & Cons of The Bank of Commerce High Yield Savings Account


  • No minimum balance requirements or per-item fees, ensuring a cost-effective and accessible savings experience.
  • Comprehensive online banking features enhance banking convenience, including Bill Pay, direct deposit, and external electronic transfers.
  • The availability of a user-friendly mobile app fosters seamless account management and accessibility on the go.


  • Potential variability in interest rates might affect the savings account’s competitiveness compared to other market offerings.

10. Farmers Bank – Savings

Farmers Bank’s Savings account is a gateway to fostering a culture of regular savings, accentuated by its manageable minimum balance requirement of $50. However, the presence of a monthly service fee for balances falling below this threshold and the imposition of withdrawal charges beyond a specific limit impact the overall appeal of the account for individuals seeking a flexible and cost-effective savings solution.

Pros & Cons Farmers Bank High Yield Savings Account


  • A small minimum balance requirement of $50 promotes accessibility for a wide range of savers
  • Opportunity to maintain a regular savings habit with the incentive of avoiding service fees and withdrawal charges


  • The imposition of a $2 service fee for balances below $50 might impact cost-effectiveness for some customers.

11. Washington Federal Bank – Savings Account

Washington Federal Bank, commonly known as WaFd Bank, offers a Savings Account catering to individuals with varying financial needs. With a requirement of a minimum balance of $100 to earn interest, the account promotes a culture of consistent savings, although minors enjoy a reduced minimum balance of $10. Despite imposing a monthly fee for balances below $100, account holders benefit from comprehensive online and mobile banking services and access to an extensive network of fee-free ATMs and physical branches across eight states.

Pros & Cons of Washington Federal Bank High Yield Savings Account


  • Wide access to over 37,000 fee-free ATMs enhances convenience and accessibility for account holders.
  • 24/7 online and mobile banking with mobile check deposits streamlines banking operations and account management.
  • An extensive branch network spanning eight states facilitates in-person assistance and customer support across various regions.


  • The imposition of a $3 monthly fee for balances under $100 might impact cost-effectiveness for some customers.

12. Ireland Bank – IRELAND Savings Account

Ireland Bank’s IRELAND Savings Account presents a flexible and accessible savings solution, emphasizing a manageable minimum deposit requirement and the possibility of waiving the quarterly service charge by maintaining a specific average daily balance. With a focus on facilitating savings growth through quarterly interest payments and compounding, the account caters to individuals seeking a consistent and cost-effective approach to building their savings. However, the lack of readily available information regarding the account’s interest rate and the imposition of fees for exceeding quarterly withdrawal limits might impact the overall appeal of the account for individuals seeking transparency and flexibility in their savings journey.

Pros & Cons of Ireland High Yield Savings Account


  • Option to waive the $3 quarterly service charge by maintaining an average daily balance of $50 for the calendar quarter promotes cost-effectiveness for account holders
  • Opportunity to save with a manageable minimum deposit requirement of $100, ensuring accessibility for a wide range of savers
  • Provision for interest accrual and compounding every quarter enhances the potential for savings growth over time


  • The imposition of a $1 fee for each additional withdrawal beyond six per quarter might limit the flexibility of account usage for individuals requiring frequent access to funds.
High Yield Savings Account in Idaho

How We Picked: Methodology

To identify the leading savings accounts in Idaho, our analysis delved into the FDIC’s June 2022 data, encompassing the top 50 banks by deposit market share across key cities such as Boise, Meridian, Nampa, Idaho Falls, and Caldwell.

Focusing on crucial account attributes, we meticulously scrutinized each bank’s offerings, emphasizing the highest available interest rates, minimal monthly service charges, potential avenues to waive such fees, and innovative savings tools.

By delving into these essential features, we aimed to provide a comprehensive overview, guiding individuals in selecting the most advantageous savings options tailored to their financial aspirations and requirements.

How to Choose a Savings Account in Idaho

  • Account Options: Consider the range of savings account options available, including basic savings, high-yield accounts, and certificates of deposit (CDs), to align with your savings goals and preferences.
  • Fees: Evaluate the fee structures associated with the savings accounts, including monthly maintenance fees, overdraft fees, and transaction fees, to ensure a cost-effective banking experience.
  • Opening Deposit: Assess the minimum deposit requirements for opening an account, ranging from nominal amounts to potentially higher thresholds, to determine the initial investment needed.
  • Access: Analyze the accessibility of the bank or credit union through physical branch locations, online banking portals, and mobile banking apps, considering your preferred banking methods.
  • Customer Service: Prioritize institutions offering reliable and efficient customer service, including various communication channels such as phone support, online chat, and in-person assistance at branches.
  • Interest: Compare the interest rates offered by different institutions, considering annual percentage yields (APYs), compounding frequency, and any introductory rate promotions to maximize your savings growth potential.
  • Account Management: Review the account management features provided, such as online account access, mobile check deposit, automatic transfers, and savings tools, to ensure convenient and effective funds management.

Where Can You Open a Savings Account in Idaho?

Traditional Banks: With their established branch networks and comprehensive digital tools, conventional banks cater to individuals seeking in-person assistance and online banking services. 

Online Banks: Online banking, a relatively recent development, has gained popularity due to its high-interest rates, minimal fees, and convenient digital access, making it an ideal choice for tech-savvy individuals comfortable with digital platforms and less reliant on in-person branch services.

Credit Unions: Owned by their members, credit unions typically feature reduced fees and higher annual percentage yields (APYs) than traditional banks. The scope of products and services can vary widely, with membership requirements often tied to specific geographic locations or affiliations with particular employers or groups.

While some prefer the security offered by large national banks, others appreciate the personalized attention of smaller community banks. These institutions generally offer diverse financial products, though they may impose more fees and provide lower savings interest rates.


Choosing the right savings account in Idaho necessitates considering various factors, including account options, fees, accessibility, customer service, interest rates, and account management features.

Idahoans can opt for online banks for competitive interest rates and minimal fees, provided they are comfortable with digital banking. Alternatively, credit unions offer community-centric services with higher APYs and lower fees, contingent upon meeting specific membership criteria.

With their physical branches and digital tools, traditional banks cater to individuals who value personalized service and a diverse product range, albeit potentially accompanied by higher fees and lower savings rates. Careful evaluation and alignment with individual financial priorities are key to making an informed and advantageous savings account choice in Idaho.


How do I open a savings account in Idaho?

Visit the bank or credit union’s website and follow their online application process. Contact the institution directly via phone or visit a branch to initiate the account opening process in person. Prepare necessary identification documents, such as a driver’s license or passport and proof of address.

What is the minimum balance requirement for a savings account?

Minimum balance requirements vary depending on the chosen bank or credit union, ranging from as low as $10 to several thousand dollars. Some institutions offer accounts with no minimum balance requirement, while others may impose fees if the balance falls below a certain threshold.

How can I access my savings account online in Idaho?

Log in to the bank’s online portal using the provided username and password. Download the bank’s mobile app from the app store and log in using the same credentials. Utilize online banking services to view account balances, transfer funds, and set up automated savings plans.

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Allan Moses

An editor and wordsmith by day, a singer and musician by night, Allan loves putting the fine in finesse with content curation. When he's not making dad jokes or having fun with puns, he's constantly looking to tell stories out of everything.


This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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