Most people do not understand the importance of having a savings account until the need for a large sum of liquid cash arises. A savings account will help you save for any such scenarios. It also offers you an interest rate, thereby letting you earn money while you save.Here are the top ten savings accounts you must look into.

My Savings Direct
My Savings Direct is a division of Emigrant Bank.

Ally Bank online
It offers an annual percentage yield of 1.05%, no monthly maintenance fee and no requirement of minimum balance. This account can easily be recommended. Moving money between Ally accounts is quick and easy. Transferring money from the accounts managed by other institutions is also hassle-free. The account holders can schedule transfers up to a year in advance.

Barclays Bank 
The institution offers an annual percentage yield of 1%. The institution also offers the perks like no minimum balance requirement, no monthly maintenance charges, tools to assist savings which helps to set saving goals and calculate the time to fulfill them.

iGobanking.com
This institution requires no minimum balance to maintain the account. It doesn’t charge a monthly maintenance fee either. It offers an annual percentage yield of 1.00%. Cheques can be deposited by a computer or mobile device using the iGobanking flexible deposits.

CIT bank
The account offers an annual percentage yield of 1.05% but requires a minimum deposit of $100. The account does not charge a monthly maintenance fee.

Synchrony Bank 
Their account offers FDIC insurance and an annual percentage of 1.05%. The website claims no minimum balance or monthly service fee. The account comes with an ATM card.

American Express bank 
The account offers an annual percentage yield of 0.09%, which is relatively low, but other perks make up for it. These perks include:24*7 online accessNo monthly maintenance feeNo minimum deposit requirement.

Bank5 connect
The account offers 0.90% of annual percentage yield along with the advantages like free online banking/ e-statements, free mobile banking, savings can be used to cover the overdrafts of checking accounts, FDIC insurance and the like, However,the minimum balance to open an account is $10 and the minimum balance to earn interest is $100

Capital One 360 Savings
The account offers an annual percentage yield of 0.75% and requires no minimum balance. The account does not charge any fee as well. The bank’s mobile app helps in depositing cheques.

FNBO Direct Online 
There is no monthly fee or minimum balance requirement. The account can be opened with a deposit of $1. The account offers an annual percentage yield of 0.95%.