It is a good idea to review your banking strategy periodically to know that you are capturing the best interest rates and services available. This is why we created a tool that monitors the rates of more than 500 financial institutions (banks, credit unions, savings banks, and savings and loan associations) and displays the top 50 highest rates.These are weekly rate updates to help you find the best online high-yield savings account rates currently available. You can change the search criteria to look for the best rates for the type of account you're interested in as well as the amount you'd like to deposit.

When I first started monitoring savings account rates, I literally kept a list by hand. Things have sure changed since then - and for the better! Now keeping track of the latest rates is a matter of bookmarking this page and scrolling down to see the latest rates. Be sure to scroll all the way down the page to view more information about some of the most popular banks' services and offers too. Then pay it forward and help other readers by posting a comment about your experiences in the comment section below.

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
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%$1
Savings1.01%$0Great Rate Savings - Tier Up to $35,000 - Account must be linked to Great Rate Checking Account - Available only to Oklahoma residents
Savings1.00%1.00%$0Kasasa Saver - Must be a resident of Wisconsin, Minnesota or Iowa
Savings1.00%1.00%$0iGO Online Savings
Savings1.00%$0APY for balances up to $50,000
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%$1Regular Savings - Maintain $1,000 balance each day and avoid a $25 monthly maintenance fee - Miami-Dade County, Florida market area only
Savings1.00%$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)
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
Savings0.93%0.93%$250Statement Savings - Rate collected within: NY
MMA0.90%0.90%$25,000iGO Online Money Market
Savings0.90%$0Online Savings - APY for all balances
Savings0.90%$100CIT Savings - APY for daily balances below $25,000 - apply online
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%$0Nationwide - apply online
Savings0.90%$0Online Savings - Free online transactions, no monthly fees, no minimums - Apply online - Rate collected within: CA
Savings0.90%0.90%$10,000Savings Account
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%$2,500Online 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%0.85%$0Money Market Savings Account - All balances - No monthly fees - Apply online - Rate collected within: CA
Savings0.85%0.85%$1,000UBM Direct Savings Account
Savings0.85%0.85%$2,500FT High-Yield Savings - APY for balances $2,500 and above - apply online
Savings0.79%0.80%$0High-Yield Savings - tier 0 - $9,999
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
Savings0.79%0.80%$50,000High-Yield Savings - tier $50,000 and up
MMA0.80%0.80%$100,000Money Market Tier $100,000 and up
MMA0.80%0.80%$5,000Earn More Money Market Account - Rate earned on balances of $5,000.00 and up-new money only.
MMA0.79%0.80%$25,000Money Market - tier $25,000 - $49,999
Savings0.80%$0High-Yield Savings - Bank by phone or online only.
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.
MMA0.79%0.80%$50,000Money Market - tier $50,000 and above
Savings0.80%$0Nationwide - apply online
MMA0.80%0.80%$10,000Premium Money Market - tier $10,000 - $49,999
Savings0.79%0.80%$10,000High-Yield Savings tier $10,000 - $24,999
Savings0.75%$0360 Savings Account - No fees - No minimum balance - Online account
MMA0.75%0.75%$1Money Market Savings Account
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
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
MMA0.75%$1Online Money Market Account - Union Federal Savings Bank is currently not accepting new applications for Online Money Market Accounts
Savings0.75%0.75%$0Online Savings Act - Rated Kiplinger's Best Online Savings Account, no minimums, no monthly fees, manage accounts securely online
MMA0.74%$0Online MM Rate - apply online
MMA0.70%0.70%$5,000 Money Market Tier $5,000 - $9,999 - $10 minimum balance fee if average balance is below $2,500

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.


Savings Account Rates

An online savings account is a helpful tool in your financial life. When you want to set up an emergency fund or other savings account for short-term liquidity, an online savings account usually offers higher interest rates than many brick-and-mortar banks.  In addition, many consumers think online banking is much more convenient.

Even though rates are low right now, they will eventually rise as the economy recovers. An online savings account, money market account, certificate of deposit (CD), interest checking or rewards checking account can help you make the most of your funds on deposit. Don’t throw your money away by saving it somewhere that doesn’t pay. An online savings account is a safe and convenient way to earn interest on funds that you may need easy access to, and it is far better than simply keeping extra sums in cash or in a checking account.

When it comes time to research which online high-yield account is best for you, I hope you’ll take a look at the research and information we consistently maintain on this page. Plan to come back frequently to check that your accounts are still performing the way you want them to and make sure that you are receiving the best service for your patronage.

It takes time to research banks, so we also created a synopsis of what some of the major banks offer with a direct link to their individual website. That way you can easily learn more and open an account when you’re ready. Here they are in no particular order:

GE Capital Bank’s Online Savings Account offers a 0.95% Annual Percentage Yield or APY (rate as of September 27, 2014) with no minimum deposit to open and no transaction fees. GE Capital Bank also tied for “Best Savings Account” by Money Magazine in 2013. Interest is compounded daily, funds are accessible 24/7 online, and external accounts can be linked. Deposits are FDIC-insured.

Synchrony Bank’s Optimizer Plus High-Yield Savings Account offers a 0.95% APY (rate as of September 27, 2014) and no monthly service charge with a minimum balance of $50. You can register up to ten external accounts to manage your balances electronically and deposits are FDIC-insured.

Barclays’ Online Savings Account offers a 0.90% APY (rate as of September 27, 2014) with no minimum deposit to open and no monthly maintenance fees. Barclays also tied for “Best Savings Account” by Money Magazine in 2013. Interest is compounded daily, funds can be moved electronically to external accounts, and deposits are FDIC-insured. Barclays is a large bank that has been around for over 300 years and operates in 50 different countries.

Ally Bank’s High-Interest Online Savings Account offers a 0.90% APY (rate as of September 27, 2014) with no minimum deposit to open and no monthly fees. Ally Bank won top honors in the MoneyRates survey of “Best Savings Accounts for 2014″ which recognizes banks that consistently offer high rates over an entire year. In addition, it was also rated the “Best Online Bank” by Money Magazine in both 2012 and 2013. The bank’s other consumer-friendly policies include daily compounded interest, 24/7 customer service, and no charges for ATMs.  (Ally actually reimburses ATM fees charged by other U.S. banks at the end of each statement cycle.) They also have an award-winning-mobile-banking application. Deposits are FDIC-insured.

The CIT Bank Savings Account offers 0.95% APY on deposits of $25,000 or above, so if you have a large balance, they are a good option to consider. Even if you don’t have $25,000 or more to deposit, their 0.90% APY on deposits of $100 to $24,999 (rate as of September 27, 2014) is still very competitive. They have no monthly fees. Interest is compounded daily. CIT Bank’s online savings accounts offer 24/7 access via the Internet, online statements, and linking to external accounts. CIT Bank was founded in 1908 by Henry Ittleson to provide financing for businesses. Throughout the 20th century, CIT expanded its product lines (including CDs, IRAs, and custodial accounts) to consumers and many business sectors and small businesses. Deposits are FDIC-insured.

American Express Bank’s High-Yield Savings Account offers a 0.80% APY (rate as of September 27, 2014) with $1 minimum deposit to open and no monthly fees on its high-yield savings account. American Express Bank took second place in the MoneyRates survey of “Best Savings Accounts for 2014″ with a mention that it edged out Ally Bank in the two most recent quarters. A longtime leader in the world of financial services, American Express is a trusted brand known for exceptional service and it apparently understands how to compete. Online accounts are accessible 24/7 via the Internet, transfers can be made to external bank accounts, and interest is compounded daily. Deposits are FDIC-insured.

Mutual of Omaha Bank’s Online Money Market Account offers 0.85% APY (rate as of September 27, 2014) on balances from $5,000 to $500,000. Better known for its insurance products, Mutual of Omaha Bank’s online services include a national network of free ATMs, free online bill-pay and account-to-account transfers. Deposits are FDIC-insured.

CapitalOne360 offers 0.75% APY (rate as of September 27, 2014) on their 360 Savings account with no minimum balance and no monthly fees. External accounts can be linked to facilitate deposits, and their online savings tools include an Automatic Savings Plan with the ability to create multiple accounts and track your savings goals. Deposits are FDIC-insured.

EverBank’s Yield Pledge Money Market Account offers, for first-time account holders, a 1.40% bonus rate for the first six months, and a first-year APY currently at 1.01% for balances up to and including $50,000 then an ongoing APY currently at 0.61% APY on their Yield Pledge Money Market Account (rates as of September 27, 2014). There is a $1,500 initial-deposit requirement. They offer convenient Internet access with live customer service 24/7 and a mobile deposit application. EverBank promises the “Yield Pledge Money Market Account rate will be in the top 5 percent of competitive accounts at leading banks nationwide.” EverBank is an online-only bank that has been named “Best of the Web” for five consecutive years by Forbes.com and was also named “Best of the Breed” for online banks by Money Magazine. Deposits are FDIC-insured.

The FNBO Direct Online Savings Account offers a 0.75% APY (rate as of September 27, 2014), a $1 minimum balance to open an account and no monthly fees. FNBO was named Best Online Savings Account in 2008 by Kiplinger’s Personal Finance magazine. Deposits are FDIC-insured.


Here is another group of banks worth considering; however, they tend to have stiffer requirements, more hoops to jump through or lower customer reviews.

Emigrant Direct’s American Dream Savings Account offers 0.50% APY (rate as of September 27, 2014) with no minimums and no fees. An external checking account can be linked to Emigrant Direct’s high-interest savings account and Internet access is available 24/7 to manage your deposits. Interest is compounded daily. Deposits are FDIC-insured.

Presidential Online Bank’s Premier Savings Account offers 0.50% APY (rates as of September 27, 2014) on balances up to $35,000. Balances in excess of $35,000 earn 0.25% APY.  Rates drop on balances over $35,000, a rather unusual approach to saving. An initial deposit of $5,000 is required, but there are no minimum balances and no monthly fees. A nationwide network of ATMs is available free of charge as well and online electronic fund transfers from external banks is available to open the account and transfer funds. Deposits are FDIC-insured.

Savings Square Savings Account offers 0.55% APY (rate as of September 27, 2014) with a $200 minimum balance to open, no minimum balances after that, and no monthly fees. The maximum account balance is $100,000. There is access to a surcharge-free nationwide network of ATMs and deposits are FDIC-insured.

SallieMae’s High-Yield Savings Account offers 0.80% APY (rate as of September 27, 2014) with no minimum deposit and no monthly fees. Sallie Mae was awarded a not-so-distant third place in the MoneyRates survey of the “Best Savings Accounts for 2014” and its deposits have risen dramatically as a result. Sallie Mae accounts are accessible online 24/7 and interest is compounded daily. In addition, Sallie Mae offers a 10% annual match on Upromise Rewards, which can be transferred to your High-Yield Savings Account, used to pay down an eligible Sallie Mae student loan, or paid out via check. Deposits are FDIC-insured.

Lending Club is a different option to consider. According to its website, Lending Club is an “online financial community.” Personal loans between $1,000 and $35,000 are funded (fully or partially) by investors. Projected returns for grades A to C are 5.00% to 8.67% (rates as of September 27, 2014). Funds are borrowed from investors through Lending Club Notes pursuant to a prospectus that is on file with the Securities and Exchange Commission. Lending Club is not a bank and invested funds are not FDIC-insured.


There are a lot of ways to research the best interest rates online. In addition to the more in-depth bank reviews we periodically produce, there are a number of websites that cover local and national banking deals on a weekly basis. The EDIE calculator can tell you which types of accounts at which banks and for which amounts are FDIC-insured.

The U.S. personal savings rate has been in decline for many decades, which some believe is helpful to a sluggish economy. On the other hand, a higher personal savings rate may also lead to stronger economic growth over the long run. Regardless, it’s important to develop the habit of saving. Knowing which institution offers the best rates and services is critical information to making the most of your savings in any economic environment.

We would like to find the best possible savings account rates and money market rates to share with the readers of Get Rich Slowly. Do your homework and choose an online savings account that works for you, and then share that knowledge with others in the comments.

Do you use an online bank for savings? Have you been able to find savings or money market account rates that are even better than what we have listed here? If so, please let us know. Don’t forget to include all the details: name of the bank, state, rate, when you opened this account with this rate and whether you can open an account online or have to go to a branch in person.

This article is about Banking, Savings