J.D. first posted this online savings account article back in March 2007, when interest rates were well over 1 percent. Since then, of course, interest rates at online banks have run under or just at 1 percent, making it hard for savers to make headway on their goals.

Our sister site, MoneyRates.com, does a quarterly analysis of savings rates, called America’s Best Rates, which shows the highest interest rates offered during the previous quarter. The rates offered by brick-and-mortar banks have tended to fall into the 0.50 percent range, while online banks have been nudging toward 1 percent. The trend for both kinds of institutions is encouraging, though, as rates are slowly improving.

For many diligent savers, the news that ING Direct was acquired by Capital One was discouraging. ING Direct became Capital One 360 on February 1, 2012.

If you’ve found a savings account that is paying a good rate, let us know in the comments. The online savings account article is updated daily with the latest savings account interest rates.

All of these accounts are FDIC insured. (You can check whether an online savings account is FDIC insured at the official FDIC institution directory.) All rates current as of dates indicated below.

Reminder: In terms of interest rates, there’s no difference between a money-market account and a savings account. “Money-market account” is simply a marketing term for high-balance/high-yield savings accounts.
  • Barclays is offering a 0.90% APY for its online savings account. There are no monthly fees or minimums either. They also offer some attractive CD Rates. Rates as of August 26, 2014.
  • Ally Bank currently offers a 0.87% APY online savings account with no minimums. Rates as of August 26, 2014.
  • Incredible Bank is offering 0.95% APY on their money market account for balances between $0 – $249,999.99. Rates as of August 26, 2014.
  • SFGI Direct offers a 1.01% APY savings account with a $500 minimum to open but only a $1 ongoing minimum balance to earn interest. The SFGI Direct savings account can only link to one external account. Rates as of August 26, 2014.
  • Discover Bank has a 0.85% APY online savings account with a $500 minimum to open. Rates as of August 26, 2014.
  • CNB Bank Direct pays 0.41% APY on its high- yield savings account with a $1 minimum balance. Rates as of August 26, 2014.
  • CIT has a savings account which offers a 0.90% APY for all deposits between $100-$24,999 and 0.95% on any deposit of $25,000 or above. CIT was founded in 1908 in St. Louis by Henry Ittleson with a mission to provide financing for businesses. Throughout the 20th century, CIT continued to grow, offering financing, lending and insurance for corporations in all sectors. CIT Bank, an FDIC-insured institution, serves consumers and small businesses with certificates of deposit, savings accounts and custodial accounts. Rates as of August 26, 2014.
  • Capital One 360 is paying 0.75% APY with no minimums. Capital One 360 is the old ING which was the darling of the personal-finance blogosphere. I use them too. Rates as of August 26, 2014.
  • Everbank offers high-yield checking, savings and money market accounts with a variety of APYs, including six-month bonus rates of 1.40% offered to first time Yield Pledge Checking and Money Market Account holders who maintain a specified balance. The details are too complicated for this post, and there’s a $1500 minimum deposit to open. Click through to learn more. Rates as of August 26, 2014.
  • Sallie Mae Bank has a 0.80% APY high-yield savings account with an added twist: If you use Upromise, the Sallie Mae savings account gives you a 10% rewards match. Read more here. Rates as of August 26, 2014.
  • GRS reader favorite SmartyPig is paying 1.00% APY on the first $50,000 in an account (and currently 1.00% APY on balances over that). SmartyPig is a goal-oriented savings account that many folks love. Rates as of August 26, 2014.
  • Nationwide Bank is paying 0.68% APY with a $1,000 minimum opening balance on their Money Market Account. Rates as of August 26, 2014.
  • OneWest Bank has a Green Savings account that currently pays 0.40% APY for balances up to $49,999. Rates as of August 26, 2014.
  • Zions Bank has long had some of the top savings account APYs in the country, and their non relationship Internet Savings Account is at 0.45% APY right now. To qualify for this rate, your balance must be over $1,000. In addition you may be eligible for a higher APY if you meet the relationship qualifications. Rates as of August 26, 2014. Rates located in New York.
  • iGOBanking is providing a 0.25% APY with no fees and no minimums. Rates as of August 26, 2014.
  • Dollar Savings Direct has an APY of 0.55% with no fees and a $1,000 minimum balance. Rates as of August 26, 2014.
  • FNBO Direct has an 0.75% APY online savings account with a $1 minimum deposit. Rates as of August 26, 2014.
  • Capital One has a Smart Savings account that pays up to 0.85% APY* on balances over $0.01. Open the account with as little as $25. Rates as of August 26, 2014. Rate collected within: 10025 (NY).
  • The HSBC Advance Online Savings Account currently provides an 0.01% APY for balances up to $9,999.99. There are no monthly maintenance fees, though you do need a buck to open the account. Rates as of August 26, 2014.
  • Emigrant Direct offers 0.50% APY with no fees and no minimums. Rates as of August 26, 2014.
  • Lending Club is an alternative to investing your money in a bank. Lending club is a peer to peer lending service. You can invest in people who are requesting personal loans through lending club, and they offer a 5.00% – 8.67% return on your investment for Grades A to C. Rates as of August 26, 2014.
Note: I originally listed these from highest APY to lowest. If a bank offers an affiliate program, I’ve used it. Translation: Get Rich Slowly earns revenue when you open an account at some of these institutions. Affiliate opportunities played no role in the rankings above.

So, how do you choose the best savings account when interest rates are at all-time lows? Which is the best online savings account for 2014? Did I miss your favorite? Share your savings strategy in the comments below.

Note: For a more complete list of savings accounts, check out this list of savings account rates at Money Rates.
TypeRateAPYMin. To Earn APYDetails
Savings2.00%2.02%$0SMART Savings Account - for young adults 18 yrs or younger, withdrawals prior to 18th birthday may result in a penalty
Savings1.25%1.26%$0Saver Rewards - Tier $0-$15,000 - online accounts only - requires an Interest Rewards Checking account - Meeting the qualifications for an Interest Rewards Checking account qualifies Saver Rewards for a higher interest rate - Limited to MA and NH market area
Savings1.25%1.26%$10,000Savings Account - minimum initial deposit of $10,000 and maximum initial deposit of $100,000.
Savings1.05%$0FreeMONEYSavings - Rate for balances below $20,000 - must maintain Dollar Bank FreeMONEY Checking or e-Checking to earn rate. Open online and mail in forms. Available in Pennsylvania, and Ohio market area. Rate collected within: 15222 (PA)
MMA1.02%$0Money Market Savings - up to 6 withdrawals are permitted per month - apply online - a division of Northeast Bank based in Maine
Savings1.01%$0Great Rate Savings - Tier Up to $35,000 - Account must be linked to Great Rate Checking Account - Available only to Oklahoma residents
Savings1.01%$1
Savings1.00%$10,000Ultimate Savings - Must have an Ultimate Checking account to open Ultimate Savings and to earn stated APY - This rate guaranteed for 90 days - Offer applies only to new customers or existing customers who add $25,000 in new deposits to Blue Hills Bank - Apply online - Must live or work in Eastern Massachusetts
Savings1.00%$1Regular Savings - Maintain $1,000 balance each day and avoid a $25 monthly maintenance fee - Miami-Dade County, Florida market area only
Savings1.00%$0eOne Savings - APY on balances of $0.01-$500,000. Companion account to eOne Checking, no minimum balance, no monthly fees, free ATM card, Online applicants only, who do not have existing deposit accounts with Salem Five
Savings1.00%$0APY for balances up to $50,000
Savings1.00%1.00%$0Kasasa Saver - Must be a resident of Wisconsin, Minnesota or Iowa
Savings0.95%$25,000CIT Savings - APY for balances $25,000 and above - apply online
Savings0.95%0.95%$1Online Savings - APY for balances between $1 to $1,000,000
MMA0.94%0.94%$1,000 Yield of Dreams Money Market -Tier Less than $100,000 - Rate collected within: NY
Savings0.93%0.93%$250Statement Savings - Rate collected within: NY
MMA0.90%$10,000Money Market Savings Account - APY for balances between $10,000-$4,999,999 - Requires Santander Bank checking account -New accounts only - apply online - Rate collected within: New York
MMA0.90%0.90%$25,000iGO Online Money Market
Savings0.90%$100CIT Savings - APY for daily balances below $25,000 - apply online
Savings0.90%$0Online Savings - APY for all balances
MMA0.90%$0Nationwide - apply online
Savings0.87%0.87%$0Online Savings - Free online transactions, no monthly fees, no minimums - Apply online
MMA0.86%0.86%$250,000Premium Money Market - tier $250,000 and over
MMA0.85%0.85%$5,000Online Money Market - Rate/APY for balances between $5,000-$500,000
Savings0.85%0.85%$2,500FT High-Yield Savings - APY for balances $2,500 and above - apply online
Savings0.85%0.85%$1,000UBM Direct Savings Account
Savings0.85%0.85%$2,500Online Savings Account - up to 6 withdrawal transactions per month with no service fee
Savings0.85%0.85%$0Online Savings Account - Account can only be held in individual or joint ownership - Up to 6 preauthorized transfers from your Online Savings Account per statement cycle
MMA0.85%$1Online Money Market Account
MMA0.85%0.85%$0Money Market Savings Account - All balances - No monthly fees - Apply online
Savings0.79%0.80%$50,000High-Yield Savings - tier $50,000 and up
MMA0.80%$0Money Market Savings - Rate earned on balances up to $99,999.99 - transaction limitations - apply online
MMA0.80%0.80%$5,000Earn More Money Market Account - Rate earned on balances of $5,000.00 and up-new money only.
Savings0.79%0.80%$0High-Yield Savings - tier 0 - $9,999
Savings0.79%0.80%$10,000High-Yield Savings tier $10,000 - $24,999
MMA0.80%0.80%$10,000Premium Money Market - tier $10,000 - $49,999
MMA0.80%0.80%$5,000Earn More Money Market Account - Rate earned on balances of $5,000.00 and up-new money only.
Savings0.79%0.80%$25,000High-Yield Savings tier $25,000 - $49,999
MMA0.79%0.80%$0Money Market - tier 0-$9,999
MMA0.79%0.80%$10,000Money Market - tier $10,000 - $24,999
Savings0.80%$0High-Yield Savings - Bank by phone or online only.
MMA0.80%0.80%$100,000Money Market Tier $100,000 and up
MMA0.79%0.80%$50,000Money Market - tier $50,000 and above
MMA0.79%0.80%$25,000Money Market - tier $25,000 - $49,999
Savings0.80%$0Nationwide - apply online
Savings0.75%0.75%$0Online Savings Act - Rated Kiplinger's Best Online Savings Account, no minimums, no monthly fees, manage accounts securely online
MMA0.75%$10,000Classic MMA - Limited time offer -Rate special for balances over $10,000 - Account holder must also have primary checking account with FSG Bank - Opening balance must be an original deposit - limited to communities within Tennessee and Northern Georgia market area
MMA0.75%0.75%$1Money Market Savings Account
Savings0.75%$0360 Savings Account - No fees - No minimum balance - Online account
Savings0.75%0.75%$50cuSave - Online Savings - Membership is limited to residents of Massachusetts or New Hampshire or those who work for a company that is based in Massachusetts

Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts, some of which have paid for a link to their website. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.

This article is about Ask the Readers, Savings