The Best Savings Accounts in Missouri for 2024

Compare rates to find the right savings account to make the most of your money. Learn which banks offer the best savings accounts in Missouri.
Written by Rebecca Lake
Financial Expert
Managing Editor
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According to the Missouri Division of Finance, the state is home to more than 200 banks, ranking it fourth in the nation overall for the number of state-chartered banks.

If you live in the Show Me State or are planning a move there, you might be wondering which banks are best for savers.

The options include traditional banks, credit unions, and online banks. Keep reading to learn how to find the best savings account in Missouri for your needs.

The Best Savings Accounts in Missouri

  • Barclays
  • Ally Savings
  • Citi Accelerate Savings
  • Synchrony Bank
  • Community Hill Bank of Pleasant Hill
  • South Central Missouri Credit Union

Find Banks With the Best Savings Account Rates Fast

Explore savings accounts at online and traditional banks and find the best rate and terms for you. Compare savings accounts and find the best rates being offered today.

Online Savings Accounts Available in Missouri

Online savings accounts can be an attractive option for Missouri residents who want to earn competitive rates while paying low fees. While online banks don’t offer branch banking access, they can be a secure place to deposit savings for your short- or long-term goals.

Here are some of the best online saving accounts in Missouri.


Barclays is headquartered in Wilmington, Delaware, but it offers online savings accounts nationwide. So you could open one of these accounts if you call Missouri home.

Why it’s a top choice:

  • Savers earn a competitive APY and interest rate
  • No minimum balance is required to open an account
  • Get paid early with direct deposit
  • There are no monthly maintenance fees
  • Barclays Savings Assistant tool can help you reach your goals
  • Accounts are FDIC-insured

It’s easy to open an account online in minutes. In addition to savings accounts, Barclays also offers CD accounts.


  • Well-above-average rate for savings
  • No minimum balance requirement
  • Easy funds transfer between accounts


  • No ATM access
  • No checking accounts

Ally Savings

Ally is a popular online bank that offers savings accounts to Missouri residents. You can also open checking accounts, money market accounts, and CD accounts here.

Why it’s a top choice:

  • No monthly maintenance fees or minimum balance requirements
  • Organize different savings goals into individual buckets
  • Round Ups and Surprise Savings features can help you grow your savings faster
  • Impressive annual percentage yield
  • 24/7 support is available if you need help
  • Savings deposits are FDIC-insured

You can open your account online in minutes. You’ll also need an Ally checking account to take advantage of the Round Ups and Surprise Savings features.


  • Upper-tier savings rate
  • Robust mobile app
  • Easily save for different goals


  • No debit card access
  • Excess withdrawal fees may apply

Citi Accelerate Savings

Citi is a traditional bank, but Accelerate Savings is its online, high-yield savings account option. Missouri residents who have a Citi banking package are eligible to open an Accelerate Savings account.

Why it’s a top choice:

  • Savers earn a solid rate that’s well above what you’d typically expect from traditional banks
  • AutoSave feature makes it easy to add to your savings balance
  • No minimum opening deposit requirement
  • Use the account as overdraft protection for a linked Citi checking account
  • Manage your account online through the Citi app
  • Deposits are FDIC-insured

You can open a Citi Accelerate Savings account online in about 10 minutes. You’ll just need to decide which Citi banking package best fits your needs.


  • Healthy interest rate and APY
  • No minimum to open
  • Bank online, at a branch, or via ATM


  • Must have a Citi banking package
  • Monthly fee applies

Synchrony Bank

Synchrony Bank offers a variety of savings options in Missouri, including CD accounts, money market accounts, and high-yield savings accounts. It routinely ranks as one of the best banks for online savings accounts overall.

Why it’s a top choice:

  • Earn one of the highest rates on savings deposits of any online bank
  • No minimum deposit requirements or minimum balance requirements
  • Savers pay no monthly maintenance fees
  • Rates apply across all balances, which is great for beginning savers
  • Multiple ways to access your money, including at the ATM
  • Synchrony Bank deposits are FDIC-insured

Synchrony Bank also offers credit cards, though there is no checking account option at this time.


  • Savings interest rate that is well above the national average
  • No monthly account maintenance fee
  • ATM access


  • Checking accounts not offered
  • Cash deposits are not accepted for savings accounts

A Look at Local Missouri Banks

In addition to online banks, you might consider local banks when choosing where to keep your savings. Here are two of the top local banking options for saving in Missouri.

Community Bank of Pleasant Hill

Community Bank of Pleasant Hill is a full-service financial institution that offers personal banking, business banking, wealth management services, and loans. There are several savings options to choose from, including a free Kasasa savers account, a standard savings account, and a high-yield money management account.

Why it’s a top choice:

  • Earn above-average rates on deposits
  • Open an account with as little as $25
  • Free online, mobile, and phone banking access
  • Add to your savings with CDs or an IRA
  • The monthly fee is waived when minimum balance requirements are met
  • FDIC-insured savings


  • Low minimum deposit
  • Convenient branch access
  • Multiple savings account options


  • Monthly withdrawal limits
  • Savings interest rates are lower than many online banks

South Central Missouri Credit Union

South Central Missouri Credit Union is a not-for-profit financial cooperative located in Willow Springs, Missouri. You might consider a credit union in place of a bank if you’re hoping to avoid high fees.

Why it’s a top choice:

  • Rates for deposit share accounts are in the upper range for credit unions
  • Easy account opening with a low minimum deposit
  • Manage your money at a branch or online
  • Low fees, so you get to keep more of your money
  • Enjoy low rates on loan products
  • Deposits are NCUA-insured

You will need to become a member to open an account here. South Central’s membership area spans those living and working in Howell, Texas, or Oregon counties.


  • Easy to open an account
  • Low minimum deposit
  • Savings interest rates above the national average


  • Limited branches
  • Membership is required

How We Picked: Methodology

MoneyRates found the best savings accounts in Missouri by analyzing savings accounts at online banks, local credit unions, national banks, regional banks, and local banks across the state. We looked at the most recent interest rates being offered on savings accounts at over 25 banks, along with accessibility, requirements for opening and maintaining an account, fees, ATM access, flexibility, availability, and ease of use of mobile banking.

The best savings accounts reflect market conditions and bank APYs at the time of our analysis. Banks can and do change their rates and terms on a regular basis, so you should check directly with them to see what rates and terms they currently offer.

How to Choose a Savings Account in Missouri

Finding the right savings account starts with understanding what you need. There are certain points that are important to compare across different accounts to find the best savings option.

Interest Rate

The interest rate you earn on savings matters because it can determine in part how quickly your money grows. Online banks tend to offer a higher interest rate and APY on deposit accounts compared to traditional banks or credit unions. Use a savings calculator to compare accounts and interest rates and see what a difference a higher interest rate can make over time.


Bank fees can detract from your interest savings. When comparing savings accounts in Missouri, consider the monthly maintenance fees as well as any excess withdrawal fees you might pay.

Opening Deposit

Some banks have a low minimum deposit requirement, while others set the bar higher. If you’re just getting started with saving, an account with a lower opening deposit may be preferable.

Other Accounts Available

In addition to a savings account, you might also be interested in opening a checking account, money market account, or CD account. If you’re looking for more than just a savings account, it’s helpful to look at what else different banks in Missouri offer.


Savings accounts are meant to hold the money you don’t plan to spend right away, but it’s important to know that you’ll be able to access your money when you need to. If you prefer the convenience of a branch, you might lean toward a traditional bank. On the other hand, you might choose an online bank if it has a sizable ATM network.

Customer Service

Good customer support is important, especially when you have questions or need help. So it’s good to look at how you can reach customer service when comparing the best savings accounts in Missouri to see which banks are most responsive.

Account Management

Both online and traditional banks can offer online and mobile banking access to your money. You may also be able to manage your accounts through phone banking. It’s helpful to know what options you have at different banks so you can choose one that fits your preferred account management style.

Where Can You Open a Savings Account in Missouri?

Generally, you have three options for opening a savings account in Missouri: online banks, traditional banks, and credit unions. Understanding how they compare can help you to decide which one is right for you.

Online Banks

Online banks usually don’t offer branch banking; instead, you’ll manage your money using online banking or a mobile app. Compared to traditional banks or credit unions, online banks often have higher interest rates for savings accounts. They also tend to charge fewer fees.

Traditional Banks

Traditional banks can offer savings accounts as well as other deposit accounts. You can bank online, via a mobile app, or at a branch. While that’s convenient, you may not get the best rates on savings accounts at brick-and-mortar banks. You may also pay more in fees.

Credit Unions

Credit unions are non-profit financial institutions in which each member owns a share. You can get decent rates on savings accounts at credit unions, and they can also charge fewer fees. The catch is that you’ll typically need to meet membership requirements in order to join and open an account.

Missouri Savings Accounts vs. Money Market Accounts

Savings accounts and money market accounts have a lot in common in terms of how they work. Whether it makes sense to open one or the other in Missouri can depend on your goals.

Here’s a quick look at how they compare.

Minimum Deposit

Savings accounts and money market accounts can have different minimum deposit requirements, depending on where you open them. For example, you might need to make a minimum deposit to open the account or have a minimum balance in order to earn interest. Between the two, savings accounts at online banks tend to have lower minimum deposit requirements overall.


Savings accounts typically don’t come with a debit card or ATM card. Money market accounts can come with either one or offer check-writing services. While money market accounts may offer more ways to withdraw money, banks can limit you to six withdrawals from the account per month. Going over that amount could trigger an excess withdrawal fee.

Interest Rates

The rates you earn on savings accounts vs. money market accounts ultimately depend on the bank. In some instances, a savings account might pay a better rate. In others, a money market could offer a higher APY.

Best Uses

Savings accounts are a convenient place to stash money for your emergency fund or short-term needs. A money market account is good for money that you’re planning to spend at some point. For example, you might use a money market account to hold a down payment on a home.

Minimum Balance to Open

The minimum balance to open a savings account may be as low as $1 or even $0 at certain online banks. Money market accounts, on the other hand, may require $100 or more to open.

Frequently Asked Questions (FAQs)

What do you need to open a bank account in Missouri?

Generally, you’ll need to have a valid ID and a Social Security number or other acceptable taxpayer identification number to open a bank account in Missouri. If you’re under 18, you’ll also need a parent to help you open the account. In the case of credit union accounts, there may be additional documentation you’re required to submit to verify your eligibility for membership.

How old do you have to be to open a checking account in Missouri?

You’ll need to be at least 18 to open a checking account in Missouri without a parent or legal guardian. If you’re under 18 and want to open a teen checking or student checking account, you’ll need a parent’s signature to do so.

Can I open a bank account online in Missouri?

You can open a bank account online in Missouri if the bank offers that option. You’ll need to submit an application, provide proof of ID, and link an external bank account to make your initial deposit.

About Author
Rebecca Lake
Rebecca Lake, a valued contributor at MoneyRates, unravels the intricacies of personal finance with her expertise in areas spanning from banking to homebuying and investing to small business strategies. Rebecca seamlessly bridges the gap between complex financial concepts and readers, demystifying them with her clear and insightful narratives. She has contributed to U.S. News and World Report, among numerous other publications. With Rebecca’s guidance, financial clarity is just an article away.
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