Liberty Savings Bank Savings Account Review

• National Savings Rate Avg.*: 0.46%
• See 10x & higher rates from our partners

Read our review & open a new​ savings account with confidence.

Liberty Savings Bank is FDIC insured up to $250,000 per depositor.

Fund your new account & take advantage of the power of compound interest today!

Main Benefits You Get with Liberty Saving Bank

Competitive APY:

Liberty Saving Bank offers 4.50% APY through the SaveBetter Platform.

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks. The current APY is over 10x higher than the national average.

Low minimum balance requirement:

You can open a savings account with Liberty Savings Bank for as little as $1. This makes it easy to open an account quickly and when you’re ready, to fully fund the account to start taking advantage of compound interest.

No monthly maintenance fee:

Everyone hates fees. They destroy your returns and are just a pain in the neck. Thankfully, Liberty Savings Bank doesn’t charge any monthy maintence fees.

Customer service: 

Liberty Savings Bank has partnered with Savebetter to bring it’s first-class savings account to more Americans. Savebetter has a supportive, accessible, responsive customer service team based in New York, NY.

FDIC insured:

Liberty Savings Bank is federally insured by the FDIC. This covers you for as much as $250,000 per depositor, per institution, in the event of a bank failure. This means that if you have a joint account, you’ll enjoy up to $500,000 federally insured.

Unlimited Withdrawals: 

Unlike the big banks, Liberty Savings Bank allows you to withdrawal money from your account as often as you need to. With any savings account, ideally you’ll be able to leave as much money as possible in the account to take advantage of the powerful effect of compound interest.

Award Winning:

Rated Excellent & Recommended from BauerFinancial.

BauerFinancial is a reputable source for unbiased and independent star-ratings of banks and credit unions. Our organization has received the ratings of EXCELLENT and RECOMMENDED from BauerFinancial. The rating system operates by having each bank and credit union file financial reports to federal regulators on a quarterly basis. BauerFinancial then collects this data from regulators, analyzes it thoroughly, and compares it to historical data for accuracy. No payment is required for a rating and a rating cannot be avoided.

Liberty Savings Bank was named a finalist in Best of SRQ
They won “Best Local Place To Work.” Liberty Savings Bank also has hundreds of 5-star reviews on Google My Business for their local branches.

Open Your New Account with Liberty Savings Bank Now

Liberty Savings Bank™ High-Yield Savings Account: 4.50% APY

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To recap our recommendations.

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Liberty Savings Bank™ High-Yield Savings Account: 4.50% APY

Western Alliance Bank^® High Yield Savings Account: 4.70% APY

American Express^® High Yield Savings Account: 4.10% APY as of October 14, 2024

Discover^® Online Savings Account: 4.10% APY

Liberty Savings Bank, Powered by SaveBetter

Liberty Savings Bank uses the secure SaveBetter platform to offer savings products to savers nationwide. Customers open accounts at SaveBetter.com, and the platform manages all aspects of the products offered by Liberty Savings Bank, including a customer’s deposits and withdrawals, statements and any customer service needs. In simple terms, SaveBetter provides you exclusive access to a special selection of savings products. Best of all, SaveBetter is completely free!

Security: Funds deposited into any of the products accessible through SaveBetter are held by federally insured institutions. We use a host of cybersecurity measures to protect your funds and sensitive information.

Choice: Savings products from our network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.

Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.

Service: A supportive, accessible, responsive customer service team based in New York, NY, sets SaveBetter apart.

Access: Enjoy 24/7 online access to your account and funds.

Brief History of Liberty Savings Bank:

Liberty Savings Bank, F.S.B. has a rich history dating back to 1889 in Highland County, Ohio. A group of visionary businessmen came together to form the Lynchburg Building and Loan Association with the aim of addressing the community’s growing demand for home ownership. Over the years, several business mergers helped this small, rural bank to grow and become stronger.

In the late 1960s, Lynchburg Building and Loan Association merged with Superior Loan and Building to form Highland Savings Association. The company continued to grow and expand, leading to the opening of a third office in Wilmington, Ohio, which prompted a change in the name to Liberty Savings Association. In September 1984, the Powell family acquired the company and rebranded it as Liberty Savings Bank, a Federal Savings Bank.

Today, Liberty Savings Bank is led by Ryan Powell and remains focused on providing products and services that deliver value to its customers. The bank prides itself on offering a unique combination of “Small Town” service and advanced technology, allowing customers to enjoy the best of both worlds. This approach to banking is simple and straightforward, making it easy for customers to understand and use the services offered. Whether you’re looking for a basic checking account or a more complex financial solution, Liberty Savings Bank has everything you need to meet your financial goals.

Liberty Savings Bank: Get Paid Up to 2 Days Early

Liberty Savings Bank offers is customers the option to get paid up to two days early with no monthly fees.

This benefit is available to you with any Liberty checking account. Other benefits include a free Visa Debit Card, free online, mobile banking & more.

Access to funds for getting paid early can be up to two days prior to date of scheduled payment and is dependent on submission of direct deposit by payer.

Liberty Savings Bank High Yield Savings Account Pros:

Pros:

1. High interest rate: Liberty Savings Bank’s high yield savings account offers a competitive interest rate, which means that you can earn more money on your savings.
2. FDIC insurance: Liberty Savings Bank is FDIC-insured, so your deposits are insured up to $250,000 per depositor, per account ownership category.
3. Convenient online access: The SaveBetter platform allows you to easily access and manage your account online.
4. No minimum balance requirement: You can open an account with any amount of money, and there are no monthly maintenance fees.
5. Easy to use: The SaveBetter platform is user-friendly and easy to navigate.

Liberty Savings Bank High Yield Savings Account Cons:

Cons:

1. Limited ATM access: With an online savings account, you may have limited access to ATMs for withdrawals and deposits.
2. Limited check-writing capabilities: With an online savings account, you may not be able to write checks.
3. Limited branch access: With an online savings account, you may not have access to in-person customer service at a physical branch.
4. Limited account options: The SaveBetter platform offers a high yield savings account, so you may not have access to other types of accounts.
5. Limited account features: High-yield savings account is a basic savings account, so it may not have some of the features of other account types like debit cards or mobile banking.

Liberty Savings Bank Supports Charitable Causes:

Liberty Savings Bank is active in supporting many local and national charitable causes. Some of the largest organizations they support are listed below.

The Salvation Army: a Christian organization and international charity founded in 1865. It offers a wide range of services and programs aimed at helping people in need, including disaster relief, homeless shelters, rehabilitation centers, food programs, and more. The Salvation Army operates in more than 130 countries and is committed to meeting the physical, emotional, and spiritual needs of people from all walks of life.

Habitat for Humanity: a non-profit organization founded in 1976. Its mission is to help families build and improve homes in which they can live and thrive. Habitat for Humanity builds homes in partnership with families in need, who are then able to purchase these homes through affordable mortgage payments. This program helps to break the cycle of poverty and provides families with safe and stable housing.

The American Red Cross: a humanitarian organization that provides emergency assistance, disaster relief, and education both domestically and internationally. Founded in 1881, the American Red Cross offers services such as blood donation, disaster response, support to military families, and health and safety training. The organization is dedicated to helping people prevent, prepare for, and respond to emergencies.

Liberty Savings Bank Near You:

Liberty Savings Bank is a regional bank that primarily operates in the Florida. Below is a list of their branch locations, phone numbers, hours and more.

The above may be outdated, for the most up to date information please visit https://www.libertysavingsbank.com/locations/

SaveBetter Contact Information:

Phone Number: 844-994-EARN (3276)
(Monday to Friday from 9:00 a.m – 4:00 p.m)

Email Address: service@savebetter.com

Address:
85 Broad Street
New York, NY 10004

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*National Savings Rate Average as published by FDIC