Best High-Yield Online Savings Accounts

  • Compare our recommended online saving accounts from our partners
  • Online savings account independent ratings & reviews
  • National Savings Rate Average*: 0.47%
  • See 10x & higher rates from our partners below
  • National Savings Rate Avg.*: 0.47%
  • See 10x & higher rates from our partners
American Express High Yield Savings Account Logo

Rating:

APY

4.25%

Annual Percentage Yield (APY)

  • High Yield Savings Account
  • Min. to Earn APY: $1
  • Min. Initial Deposit: $0
  • 4.25% APY
  • APY as of May 17, 2024
  • Interest Compounded Daily
  • $0 Monthly Fees
  • 24/7 Customer Service
  • FDIC Insured up to $250,000
  • Backed by the Service & Reliability of American Express
  • Terms Apply
  • See Site for Details

 On American Express National Bank's Secure Site, Member FDIC

Discover Bank Logo

Rating:

APY

4.25%

  • High Yield Savings Account
  • Min. balance for APY: $0
  • Min. Initial Deposit: $0
  • 4.25% APY
  • 5x National Savings Avg*
  • Mobile Check Deposit
  • No Monthly Fees
  • 100% U.S.-based Customer Service Available 24/7
  • Interest Compounded Daily
  • FDIC Insured up to $250,000
  • See Site For Details

On Discover Bank's Secure Site, Member FDIC

 

Cit Bank Logo

Rating:

APY

5.00%

  • High Yield Savings Account
  • Balance for APY: $5,000
  • 5.00% APY
  • No Monthly Service Fees
  • Earn a Higher APY with a Higher Min. Balance
  • Mobile App Online Banking
  • Deposit Checks Remotely & Make Transfers Easily
  • FDIC Insured up to $250,000
  • Sign Up in Under 5 Minutes
  • See Site for Details

On CIT Bank's Secure Site, Member FDIC

 

 Compare With

Chase Bank Logo

Rating:

APY

0.01%

Chase Bank Details

  • Savings Account
  • 0.01% APY
  • Min. Balance to Avoid Service Fee: $300
  • Monthly Service Fees: up to $5
  • Limit 6 Withdrawals per Monthly Statement Period
  • Withdrawal Overage Fees: up to $15 per month
  • Other Miscellaneous Fees Apply

Not Recommended.
Shown For Comparison Purposes Only.

 

Cit Bank Logo

Rating:

APY

4.65%

  • High Yield Savings Account
  • Min. initial deposit: $100
  • 4.65% APY
  • No Monthly Service Fees
  • No Minimum Monthly Balances
  • 12x National Avg. APY
  • Mobile App Online Banking
  • Deposit Checks Remotely & Make Transfers Easily
  • FDIC Insured up to $250,000
  • Sign Up in Under 5 Minutes
  • See Site for Details

On CIT Bank's Secure Site, Member FDIC

 

 Compare With

Wells Fargo Logo

Rating:

APY

0.15%

Wells Fargo Details

  • Savings Account
  • Min. Initial Deposit: $25
  • No Fee Min. Balance: $300
  • 0.15% APY
  • Monthly Maintenance Fee of $5. If Below Min. Balance
  • Other Fees May Still Apply

Not Recommended.
Shown For Comparison Purposes Only.

 

 High APY 

Ponce Bank Logo Powered By Raisin

Rating:

APY

5.20%

  • High Yield Money Market Account
  • Min. initial deposit: $1
  • 5.20% APY
  • FDIC Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • 7.9x National Avg. APY
  • Interest Compounded Daily
  • See Site for Details

On Raisin's Secure Site for Ponce Bank, FDIC Insured

 

MPH Bank Logo Powered By Raisin

Rating:

APY

4.70%

  • Money Market Account
  • Min. initial deposit: $1
  • 4.70% APY
  • FDIC Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • Interest Compounded Daily
  • See Site for Details

On mph.bank's Secure Site,
FDIC Insured

 

 Compare With

Bank of America Logo

Rating:

APY

0.01%

Bank of America® Details

  • Savings Account
  • No Fee Min. Balance: $500
  • 0.01% APY
  • Monlthy Maintence Fee of $8. If Below Min. Balance
  • $5 Fee for Statement Copies
  • Other Fees May Still Apply

Not Recommended.
Shown For Comparison Purposes Only.

 

Liberty Bank Logo Powered By Raisin

Rating:

APY

4.60%

  • High-Yield Savings Account
  • Min. initial deposit: $1
  • 4.60% APY
  • 12.4x National Avg. APY
  • No Monthly Fees
  • Founded in 1889
  • FDIC Insured up to $250,000
  • Strong History of Serving Communities Across America
  • See Site for Details

On Raisin's Secure Site for Liberty Bank, Member FDIC

 

 High APY Rate 

Rating:

APY

5.15%

  • High Yield Money Market Account
  • Min. initial deposit: $1
  • 5.15%
  • Blue FCU is Federally Insured by NCUA, the National Credit Union Administration
  • NCUA Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • 16.7x National Avg. APY
  • Interest Compounded Daily
  • Blue FCU Has Served Its Members for Over 70 Years
  • See Site for Details

On Raisin's Secure Site for​ Blue FCU, NCUA Insured

To recap our recommendations.

Best Savings Accounts According To CompareAccounts™

Frequently Asked Questions About Online Savings Accounts

What is a Online Savings Account?

An online savings account is a type of bank account that offers a higher Annual Percentage Yield (APY) than a checking account.

A checking account is used for money that needs to be moved quickly such as to pay bills or use for ever day spending.

Whereas a savings account is a better option for money that doesn’t need to be used right away, for example your emergency fund.

How to Find The Best Online Savings Account?

Arguably the best way to find the best savings accounts is right here on compareaccounts.com. Although we don’t showcase every single savings account available, we stand by our recommendations as the highest tier of the best accounts in America.

Why are Online Savings Accounts Better Than Traditional Ones?

Traditional banks offer low rates on savings accounts. This is because they’re managing insanely large amounts of money and need to manage their risk profile. The less “guaranteed returns” they provide, the less risky their overall portfolio becomes. As a result, traditional banks only offer about .01-.10% interest on their savings accounts. A high yield account offers up to interest on your savings. Which is nearly 10x the national average. Now you know why so many people are switching to a high yield savings account.

Is My Money Safe?

Yes! Savings accounts listed on this page are protected by the Federal Deposit Insurance Corporation (FDIC). The Federal Deposit Insurance Corporation insures Bank and thrift deposits up to $250,000.

How Do I Open a Online Savings Account?

Easy. Simply click on the “view details” button above of your selected finanicial instution. Once you arrive at our partners site, you’ll be able to open your new savings account safely and securely.

*National Savings Rate Average as published by FDIC