Last Updated: 04/18/2025
OceanFirst Bank High Yield Savings Account
Unaffiliated
from OceanFirst Bank N.A.
Last Updated: 04/18/2025
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
4%(Verified 01/03/2025)
Minimum Opening Deposit
Starting at $1
Minimum Balance to Earn APY
$1
Number of Reviews
OceanFirst Bank High Yield Savings Account Review
OceanFirst Bank High Yield Savings Account is offered by OceanFirst Bank N.A., a bank founded in 1902 and based in Toms River, NJ. OceanFirst Bank High Yield Savings Account are available in 50 states and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 4%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $1 to open an account.
- No ATM fees. OceanFirst Bank High Yield Savings Account does not charge fees on ATM transactions .
OceanFirst Bank High Yield Savings Account Pros & Cons
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OceanFirst Bank High Yield Savings Account FAQ
Are savings accounts from OceanFirst Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does OceanFirst Bank N.A. offer a signup bonus?
OceanFirst Bank High Yield Savings Account doesn't offer a signup bonus.
What is the minimum initial deposit for OceanFirst Bank High Yield Savings Account?
The minimum deposit to open a OceanFirst Bank High Yield Savings Account is $1.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does OceanFirst Bank High Yield Savings Account offer?
OceanFirst Bank High Yield Savings Account offers an APY of 4% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does OceanFirst Bank High Yield Savings Account charge?
OceanFirst Bank High Yield Savings Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
What features and perks does OceanFirst Bank High Yield Savings Account offer?
This savings account includes the following features:
- Mobile Banking Services - OceanFirst Bank High Yield Savings Account allows you to manage your money online or with a mobile app.
Can you set up a direct deposit to OceanFirst Bank High Yield Savings Account?
Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.
How do people rate the customer service and user experience of OceanFirst Bank High Yield Savings Account?
Overall, OceanFirst Bank High Yield Savings Account is strongly recommended based on community reviews that rate customer service and user experience.
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Hours of Operation
SundayClosedMonday7:00AM - 7:00PMTuesday7:00AM - 7:00PMWednesday7:00AM - 7:00PMThursday7:00AM - 7:00PMFriday7:00AM - 7:00PMSaturday8:00AM - 5:00PM
Other Services by OceanFirst Bank N.A.
SuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +100, or 5 on a 5-point rating scale.
+100
-1000+100
No one recommends
Everyone recommends
OceanFirst Bank High Yield Savings Account Community Reviews
Would you recommend OceanFirst Bank High Yield Savings Account to your friends?
Aleeza M.
Jan 6, 2024
May or may not recommend
Amazing bank. Whenever I have a problem they are quick to fix it. It's like that with Community banks; they actually care about the community they are in. The bank I belonged to before this one only knew me by my account number and I could tell the tellers didn't care about their customers. With this bank when I walk in they greet me, ask me how I am doing, ...Show More
EM
Emily M.
Nov 19, 2023
May or may not recommend
Their SaveFirst Account is pretty good. As long as you have a Checking Account with OceanFirst you are eligible to open a savings. Plus, I know that I got a 10 dollar bonus when I open my account. Hopefully, that is a long term feature.
RU
Rabbia U.
Nov 19, 2023
May or may not recommend
The great thing about this bank is that it is available in almost every state, and you did not have any problem when you are travelling. Their High Yield Savings Account has the perks of very minimal initial payment i.e. $1 only and the same amount you have to maintain to keep your savings in the loop of interest rate. Most cards charged an ATM transaction fee but with OceanFirst ...Show More
DC
Dylan C.
Oct 30, 2023
May or may not recommend
This is amazing! With a 0 dollar monthly fee, and a very high interest rate that allows MY money to grow each year (with as low as $1???!!) I am extremely confident in where my money goes, and how I am able to use it. With that being said, OceanFirst is my First choice when looking for accounts to place my trust in money in.
NS
Natalie S.
Oct 26, 2023
May or may not recommend
OceanFirst Bank's High Yield Savings Account is a financial game-changer. The competitive interest rates have allowed my savings to grow steadily, all while having easy access to my funds. Their online platform is intuitive, and the 24/7 access to my account is a game-changer. Transfers are quick and hassle-free. But what truly sets OceanFirst Bank apart is their outstanding customer service – they're responsive, knowledgeable, and genuinely care about their ...Show More
Showing 5 of 5 reviews
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