The Citizens Bank savings interest rate is between 0.01% and 0.07% APY, depending on your account type. Learn more with our guide.

A 2023 survey by fintech company SecureSave found that 63% of Americans didn't have enough savings to cover an unplanned $500 expense. So if you're someone with more than $50,000 in your savings account, you're clearly in a much better financial place.

New customers must deposit $25,000 within 30 days of opening the account and maintain that balance for 120 days. ・High-Yield Savings Rates: Barclays offers competitive interest rates of up to 4.80% APY.

TD Bank savings interest rates range from 0.01% to 4.00% APY, with multiple account options from which to choose. Learn more with Newsweek.

If your savings balance is well below that threshold, it's a good idea to try to raise it. And while your goal should be to save enough money to cover at least three months of essential living expenses, a $5,000 balance is certainly a nice start. Here are a few benefits to growing your savings to $5,000.