Neobank Savings: Best App-Based Accounts and How They Work

When you think of neobank savings, digital-only bank accounts designed for mobile users that offer higher interest and no hidden fees. Also known as digital bank savings, it's how millions now keep their emergency cash, side hustle earnings, and monthly surplus—without visiting a branch. Unlike traditional banks that pay less than 0.01% interest, top neobanks like Chime and Varo now offer over 4% APY, and some even include automatic savings tools that move money for you.

Neobank savings aren’t just about interest rates—they’re built around behavior. Many integrate with your paycheck to round up spare change or deposit part of your pay early. That’s why Chime savings, a feature-rich savings account tied to a no-fee checking account with early direct deposit is one of the most popular options for people who want to save without thinking about it. These accounts often link to high-yield savings account, a type of savings account that pays significantly more interest than traditional banks, often through online-only operations models, which cut overhead by skipping physical branches. That’s how they pass savings to you in the form of higher returns.

What makes neobank savings different from regular online savings accounts? It’s the automation, the design, and the lack of friction. You won’t find minimum balance fees, ATM surcharges, or paper statements. Instead, you get push notifications when you save, visual progress bars, and instant access to funds via mobile apps. These features turn saving from a chore into a habit. And because these banks rely on partnerships with FDIC-insured institutions, your money is still protected up to $250,000—same as your local bank.

But not all neobank savings are created equal. Some lock you into a subscription for the best rate, others hide fees in overdraft protection, and a few don’t even offer interest at all. That’s why it matters to look beyond the headline APY. Check how fast your money moves, whether you can set up recurring transfers, and if the app actually helps you stick to your goals. The best ones don’t just store your cash—they help you grow it without effort.

If you’ve ever wondered why your savings account barely budges, or if you’re tired of paying fees just to keep money in the bank, neobank savings is the reset button. You’ll find real comparisons of the top apps, breakdowns of hidden costs, and step-by-step guides on how to set up automatic savings that actually work. Whether you’re starting with $50 or $5,000, the tools and accounts below are built for real people—not financial advisors.