SFGI Direct is April's top bank for savings accounts
The online division of a small West Virginia bank is offering the top nationally available return on savings accounts this month.
SFGI Direct is paying 1.21% APY with a $500 minimum deposit.
It's a part of Summit Community Bank, which has 15 branches across West Virginia and northern Virginia.
Although SFGI Direct is paying two-tenths of a point less than it was in January, its return is still a little more than the 1.15% APY you'll earn at the next best banks.
Accounts at SFGI Direct can be opened online in about 10 minutes, and you'll need a:
- Social Security number
- Valid form of identification, such as a driver's license, state ID, military ID or passport
- Previous home address if you've moved within the past two years
- Current checking or savings account to use in funding your new account from.
Direct deposits can be made into this account and there is no minimum balance required to avoid monthly fees. Interest is paid on balances of $1 or more.
Click here to compare SFGI Direct's deal with the best savings account rates from dozens of other banks.
Follow Interest.com on Twitter.