Best High Yield Savings Accounts in Denver

High yield savings accounts in Denver can be opened at online banks, or at local financial institutions. Read on to know more.
high yield savings accounts in Denver
Best High Yield Savings Accounts in Denver
This comprehensive guide delves into the world of high yield savings accounts in Denver, tailored specifically for its residents.
In this article

Denver, known for its stunning Rocky Mountain backdrop and thriving economy, offers many opportunities for savvy savers. Whether you’re an astute investor or just looking to grow your rainy-day fund, you can find the best high yield savings accounts in Denver. From online banks with competitive rates to local institutions with a personal touch, discover the financial tools you need to make your money work harder for you in the vibrant heart of Colorado.

The Best High Yield Savings Accounts in Denver

A high-yield savings account can be a powerful tool when managing your finances and saving for the future. These accounts offer much better interest rates than traditional savings ones, helping your money grow faster. In Denver, several options exist for high-yield savings accounts from online banks and local financial institutions.

Online High Yield Savings Accounts in Denver

The digital age has revolutionized banking, making it easier than ever to access high-yield savings accounts. Online banks offer competitive interest rates and often have lower fees than their brick-and-mortar counterparts. Here are some of the top online high-yield savings accounts available in Denver:

Beem – High Yield Savings

Beem offers a remarkable opportunity to grow your savings with an impressive APY of up to 5.00%, a rate that’s 11 times higher than the national average. Watch your money flourish with high-interest rates while enjoying a fee-free banking experience. Beem ensures a seamless digital banking experience at your fingertips. Your savings are safeguarded with FDIC insurance coverage of up to $5,000,000, providing peace of mind for your financial future. Start growing your savings today with Beem.



Citi Accelerate Savings offers a competitive high-yield savings account with an impressive 4.35% (varies by location) APY, making it a standout option for those who qualify. However, this account is exclusively available to residents of select U.S. states, primarily catering to online customers rather than those with physical branch access. South Dakota and specific parts of Florida are exceptions, allowing access to this high-interest savings account. With a minimal $1 minimum balance requirement, Citi Accelerate Savings presents an enticing opportunity. However, navigating the package tiers and associated fees is essential for a tailored banking experience.

Citi Pros & Cons


  1. High APY on your savings: Citi’s Accelerate Savings account offers an impressive annual percentage yield (APY), ensuring your savings can grow significantly. It requires only a minimum balance of $1 to start earning.
  2. Low minimum opening deposit: You don’t need substantial money to open a Citi Accelerate Savings account, making it accessible to a wide range of savers.
  3. Possible to waive monthly fees: Citi provides opportunities to waive monthly fees, allowing you to keep more of your savings.


  1. Not available in all 50 states: One of the significant limitations of Citi’s Accelerate Savings account is its geographic restriction. It’s not accessible to residents in all states, limiting its availability.
  2. Monthly service fee: While it’s possible to waive monthly fees, some account packages may come with monthly service fees, which can be a drawback if you don’t meet the requirements.

American Express® National Bank, Member FDIC

American Express® National Bank, Member FDIC

American Express® National Bank offers a compelling solution for savers seeking a high-yield savings account with no fees and no need for branch access. With an attractive 4.30% APY as of October 8, 2023, this account ranks among the top options in terms of interest rates, and interest is compounded daily, ensuring your money grows swiftly. Setting up and managing your account is hassle-free, with the ability to link multiple accounts and make transfers effortlessly. Moreover, the absence of maintenance fees, 24/7 customer support, and FDIC insurance up to $250,000 per depositor make American Express® High Yield Savings a reliable choice for optimizing your savings.

American Express Pros & Cons


  1. Competitive APY: American Express High Yield Savings offers a competitive annual percentage yield (APY), allowing your savings to grow at an impressive rate.
  2. No Account Fees: This savings account comes with no maintenance fees, ensuring that more of your money goes toward savings.
  3. Comfort of a Well-Known Brand and Reputation: American Express is a trusted and globally recognized brand with a strong reputation for financial services.
  4. Unlimited Transfers and Withdrawals: You can make unlimited transfers and withdrawals from your American Express High Yield Savings account, providing easy access to your funds.
  5. 24/7 Customer Support: American Express offers round-the-clock customer support, ensuring assistance is available whenever needed.
  6. FDIC Insured: With American Express National Bank being a member of the FDIC, your deposits are insured up to $250,000 per depositor per institution, providing peace of mind.


  1. No ATM Access: American Express High Yield Savings does not provide ATM access, which may be inconvenient for those who frequently use cash.
  2. No Branch Access: American Express National Bank needs physical branch locations, limiting in-person banking services as an online-only bank.

Synchrony Bank

Synchrony Bank

The Synchrony Bank High Yield Savings account stands out with its remarkable combination of fee-free banking and a high annual percentage yield (APY) of 4.50%. Beyond its impressive interest rate, this account offers more than meets the eye. A high APY that ranks among the best for online savings accounts ensures your savings grow significantly, and there’s no minimum deposit requirement. Additionally, Synchrony Bank provides an ATM card to quickly access your funds with out-of-network ATM fee reimbursements. Plus, the peace of mind of FDIC insurance ensures your funds are protected up to $250,000 per depositor, per institution.

Synchrony Savings Pros & Cons


  1. Competitive APYs: Synchrony Bank offers highly competitive annual percentage yields (APYs) on its savings accounts, helping your money grow at an impressive rate.
  2. No Savings Account Minimum Balance: Synchrony Bank’s savings accounts do not require a minimum balance, making it accessible to a range of savers, whether you’re just starting to save or have substantial funds to invest.
  3. No Monthly Fees: Synchrony Bank’s savings accounts are fee-free, ensuring that your savings remain untouched by maintenance charges.


  1. No Checking Account Option: Synchrony Bank focuses on savings accounts and does not offer checking accounts. You may need to use multiple financial institutions if you require both accounts.
  2. No Physical Branch Locations: Synchrony Bank operates exclusively online, so you won’t have access to physical branch locations for in-person banking services.

Ally Bank

Ally Bank

Ally Online Savings is a standout choice for savers, offering a highly competitive APY with minimal fees. With an impressive 4.25% APY that applies uniformly to all balances, this account is among the top online savings options. It eliminates barriers with no minimum balance requirements and no monthly maintenance fees. Furthermore, the innovative “savings buckets” feature allows you to categorize your savings into up to 10 goals. Ally’s feature-rich mobile app simplifies banking tasks, including check deposits, electronic transfers, and bill payments. And, as with traditional bank savings accounts, FDIC insurance provides coverage up to $250,000 per depositor, per institution, in the unlikely event of a bank failure.

Ally Savings Pros & Cons


  1. Competitive APYs: Ally Savings offers high annual percentage yields, ensuring your savings grow impressively.
  2. No monthly maintenance fees: You won’t incur fees for simply maintaining your Ally Savings account.
  3. Saving buckets to separate savings by goals: Ally’s unique feature allows you to organize your savings into distinct categories, helping you stay on track.
  4. No minimum balance requirements: You can open an Ally Savings account with any amount, making it accessible for all savers.


  1. No local branches: Ally operates solely online, so you won’t have access to physical branch locations for in-person banking services.
  2. No cash deposits: You can’t deposit cash directly into your Ally Savings account, which may be inconvenient for some customers.

A Look at Local Denver Banks

While online banks offer convenience and competitive rates, some Denver residents may prefer a local presence for their banking needs. Let’s explore a couple of local options:

Prime Alliance Bank

Prime Alliance Bank

Prime Alliance Bank, while not in the spotlight, boasts competitive APYs that rank it among the top banks in the market. With an attractive 4.50% (variable) APY, the Personal Savings account offers robust returns. However, it may not match the highest online savings rates. This account comes free of monthly maintenance fees, ensuring your savings remain untouched. Furthermore, there are no minimum balance requirements, although you need at least $1 to start earning interest. While lacking physical branches, Prime Alliance Bank provides convenient online and mobile banking tools, including mobile check deposit, for seamless account management from anywhere.

Prime Alliance Bank Savings Pros & Cons


  1. Earn interest on all account types: Prime Alliance Bank allows you to earn interest on all its accounts, helping your savings grow.
  2. Competitive APYs: The bank offers competitive annual percentage yields (APYs), ensuring your money works hard for you.
  3. No monthly fees: You won’t incur monthly maintenance fees, keeping your savings untouched by unnecessary charges.
  4. No minimum balance to earn interest: Prime Alliance Bank doesn’t require a minimum balance to start earning interest on your savings.


  1. Only one physical bank location: Prime Alliance Bank has a limited physical branch presence, which may be inconvenient if you prefer in-person banking.
  2. Limited customer service hours: The bank’s customer service hours may need to align with everyone’s schedules, potentially limiting access to support.

Chevron Federal Credit Union

Chevron Federal Credit Union

At Chevron Federal Credit Union, financial freedom reigns with many attractive features. You’ll find no monthly maintenance fees or term restrictions, ensuring a hassle-free banking experience. There’s no minimum balance required to open or maintain your account. However, balances below $2,500 will earn the regular Primary Share Savings account dividend rate. Accessing your funds is convenient through checks or a debit card, making your money readily available for your financial needs.

Chevron Federal Credit Union Savings Pros & Cons


  1. No Monthly Maintenance Fees: Enjoy the benefits of a savings account with no monthly fees, keeping your savings untouched by extra charges.
  2. No Minimum Balance: Chevron Federal Credit Union doesn’t impose a minimum balance requirement to open or maintain your account, providing accessibility for all savers.
  3. Easy Access: Access your funds conveniently through checks or a debit card, making it simple to manage your finances.


  • Limited Availability: Membership eligibility criteria may restrict access to Chevron Federal Credit Union, limiting availability to a specific group of individuals.
  • Potentially Lower Dividend Rates: Balances below $2,500 may earn a lower dividend rate than accounts with higher balances, potentially affecting the growth of smaller savings.

How We Picked: Methodology

Selecting the right high-yield savings account in Denver is a pivotal financial decision. To aid in your well-informed choice, we meticulously evaluated numerous U.S. savings accounts, including online and brick-and-mortar banks, including substantial credit unions. Our selection criteria honed in on savings accounts featuring an approximate 1% APY, without monthly maintenance fees, and demanding minimal or no minimum balance prerequisites.

While the chosen accounts consistently rank among the highest APY rates, our assessment extended to various features, including accessibility, ease of use, insurance policies, and customer feedback. We also scrutinized deposit options and compound frequencies. All featured accounts are FDIC-insured, safeguarding deposits up to $250,000. Please note that high-yield savings account rates and fee structures are subject to change and typically fluctuate with the Fed rate, with earnings contingent on associated fees and account balance. Most banks require an initial deposit of new funds to open an account, excluding transfers from existing accounts with the same institution.

high yield savings accounts in Denver

How to Choose a Savings Account in Denver

Selecting the proper high-yield savings account requires careful consideration of your financial goals and needs. Here are some factors to keep in mind when choosing a savings account in Denver:

Account Options

Consider your specific savings goals and the features you need. Some accounts may be tailored to particular objectives, such as emergency funds, retirement savings, or short-term goals. It is important to pick an account that aligns with your financial plans.


Review the account’s fee structure. Look for accounts with no monthly maintenance fees or accounts that waive fees when minimum balance requirements are met. Avoid accounts with excessive fees that could eat into your savings.

Opening Deposit

Determine how much you can comfortably deposit to open the account. Some accounts have low or no minimum deposit requirements, while others may require a substantial initial deposit.


Consider how you plan to access your funds. Do you need ATM access, mobile banking, or in-person services? Choose an account that provides the level of access that suits your lifestyle.

Customer Service

Read reviews and always consider the quality of the financial institution’s customer service. Access to responsive customer support can be invaluable when you have questions or concerns about your account.


Interest rates can vary significantly among accounts. Zero in on an account that offers a competitive interest rate to maximize your savings.

Account Management

Evaluate the ease of managing your account. A user-friendly online platform and mobile app can make monitoring your savings and transactions convenient.

Where Can You Open a Savings Account in Denver?

Denver residents have various options when it comes to opening a savings account. Here are the primary types of institutions where you can open an account:

Traditional Banks

Traditional banks, such as Wells Fargo, Chase, and U.S. Bank, have a significant presence in Denver. They offer a wide range of banking services, including high-yield savings accounts. While their interest rates may not always be the highest, they provide the convenience of physical branch locations.

Online Banks

Online banks, like Beem, American Express National Bank, Synchrony Bank, and Ally Bank, offer high-yield savings accounts with competitive interest rates and often lower fees. They focus on providing digital services, making it convenient for customers to manage their accounts online or through mobile apps.

Credit Unions

Credit unions, including Chevron Federal Credit Union, offer membership-based savings accounts. They often provide competitive interest rates and member benefits, but eligibility criteria may apply. Credit unions tend to have a community-focused approach and may have limited branch locations.


Choosing the best high yield savings accounts in Denver requires a thoughtful evaluation of your financial objectives and preferences. Online banks like Beem, American Express National Bank, Synchrony Bank, and Ally Bank present enticing options with competitive interest rates and user-friendly digital banking features. Alternatively, local choices such as Prime Alliance Bank and Chevron Federal Credit Union offer a community-centered approach and personalized service. Tailor your decision based on fees, accessibility, and customer support to align with your financial goals in Denver’s dynamic landscape.

Remember, choosing the best HYSA involves considering critical factors like interest rates, fees, minimum balance, and accessibility. Beem can help you find the best high-yield savings accounts to suit your needs.

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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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