menu
HomeFinance & ToolsFinance & ToolsTop 10 Best High Yield Savings Accounts

Top 10 Best High Yield Savings Accounts

High-yield savings accounts offer a way to earn more interest on your savings compared to traditional savings accounts. These accounts typically feature higher annual percentage yields (APYs), allowing your money to grow faster while still providing easy access to your funds. The best high-yield savings accounts often come with low or no fees, no minimum balance requirements, and are offered by online banks or credit unions that can pass on savings to customers.

Advertisement

The top 10 high-yield savings accounts generally include options from well-known online banks like Ally, Marcus by Goldman Sachs, and American Express National Bank, which are recognized for their competitive rates and user-friendly online platforms. Many of these accounts boast APYs ranging from 3% to 4%, significantly higher than the national average. Additionally, they often feature FDIC insurance for deposits, ensuring safety for your funds. Some accounts may offer unique perks, such as mobile banking apps for easy management, automated savings tools, and bonus incentives for new customers. Always consider factors like fees, withdrawal limits, and customer service when choosing the best account for your financial needs.

  • Ally High Yield Savings
    Ally High Yield Savings

    Ally High Yield Savings - Grow your savings effortlessly with Ally High Yield.

    View All
  • Marcus by Goldman Sachs
    Marcus by Goldman Sachs

    Marcus by Goldman Sachs - Empowering your financial journey with smart savings solutions.

    View All
  • Discover Online Savings
    Discover Online Savings

    Discover Online Savings - Unlock Your Future with Smart Online Savings!

    View All
  • American Express High Yield
    American Express High Yield

    American Express High Yield - Maximize Savings, Minimize Fees with American Express High Yield.

    View All
  • Synchrony Bank High Yield
    Synchrony Bank High Yield

    Synchrony Bank High Yield - Grow your savings faster with Synchrony High Yield!

    View All
  • Capital One 360 Performance
    Capital One 360 Performance

    Capital One 360 Performance - Maximize Your Savings, Effortlessly Grow Your Wealth.

    View All
  • CIT Bank Savings Builder
    CIT Bank Savings Builder

    CIT Bank Savings Builder - Grow your savings with confidence and ease.

    View All
  • Barclays Online Savings
    Barclays Online Savings

    Barclays Online Savings - Grow your savings effortlessly with Barclays Online.

    View All
  • Vio Bank High Yield Savings
    Vio Bank High Yield Savings

    Vio Bank High Yield Savings - Grow your savings with Vio Bank's high yield!

    View All
  • FNBO Direct Online Savings
    FNBO Direct Online Savings

    FNBO Direct Online Savings - Grow your savings effortlessly with FNBO Direct.

    View All

Top 10 Best High Yield Savings Accounts

1.

Ally High Yield Savings

less
Ally High Yield Savings Account offers competitive interest rates with no monthly maintenance fees and no minimum balance requirements. It provides easy online access to funds, allowing customers to manage their savings conveniently through a user-friendly mobile app or website. The account is FDIC insured, ensuring the safety of deposits. Additionally, Ally Bank features automated savings tools, such as bucket creation for specific goals and round-ups for extra savings. This account is ideal for those looking to grow their savings efficiently while maintaining flexibility.

Pros

  • pros High interest rates
  • pros no monthly fees
  • pros easy online access
  • pros FDIC insured
  • pros and mobile app convenience.

Cons

  • consLimited branch access
  • cons potential fees for certain transactions
  • cons variable interest rates.
View All

2.

Marcus by Goldman Sachs

less
Marcus by Goldman Sachs is an online banking platform offering a range of financial products, including high-yield savings accounts, no-fee personal loans, and certificates of deposit. Launched in 2016, it aims to provide consumers with straightforward and accessible banking solutions. The platform emphasizes user-friendly digital experiences and competitive interest rates, catering primarily to individuals seeking to manage their finances without the traditional banking complexities. Marcus is part of Goldman Sachs' broader strategy to diversify its revenue streams beyond investment banking and wealth management.

Pros

  • pros High interest rates
  • pros no fees
  • pros user-friendly app
  • pros strong customer support
  • pros secure platform.

Cons

  • consLimited product offerings
  • cons high interest rates on loans
  • cons no physical branches
  • cons customer service issues.
View All

3.

Discover Online Savings

less
Discover Online Savings offers a high-yield savings account with competitive interest rates and no monthly maintenance fees. Customers can open an account with a low minimum deposit and enjoy 24/7 account access through the user-friendly online platform and mobile app. The account provides features like easy fund transfers and optional access to automated savings tools. Additionally, Discover is known for its exceptional customer service, making it a popular choice for individuals looking to grow their savings while maintaining flexibility and convenience.

Pros

  • pros High interest rates
  • pros no monthly fees
  • pros easy online access
  • pros FDIC insured
  • pros and no minimum balance.

Cons

  • consLow interest rates
  • cons limited access to physical branches
  • cons potential withdrawal restrictions
  • cons and fees on some transactions.
View All

4.

American Express High Yield

less
American Express High Yield Savings Account offers a competitive interest rate with no monthly fees and no minimum balance requirement. This online savings account is designed to help customers grow their savings while providing easy access to funds. It features a user-friendly mobile app for managing accounts and transferring money. Additionally, deposits are insured by the FDIC up to the allowable limits, ensuring account security. The account is ideal for individuals looking for a safe place to save while earning a higher return compared to traditional savings accounts.

Pros

  • pros Competitive interest rates
  • pros easy online access
  • pros no monthly fees
  • pros reliable customer service
  • pros FDIC insured.

Cons

  • consLow liquidity
  • cons high fees
  • cons limited access to funds
  • cons and potential account restrictions.
View All

5.

Synchrony Bank High Yield

less
Synchrony Bank High Yield Savings Account offers competitive interest rates, making it an attractive option for savers looking to grow their funds. With no monthly maintenance fees and no minimum balance requirement, it provides flexibility for customers. The account is FDIC-insured, ensuring safety for deposits up to $250,000. Online banking features allow easy access to funds and account management. Synchrony Bank also emphasizes customer service, providing support through various channels. Overall, it’s a solid choice for individuals seeking a reliable high-yield savings solution.

Pros

  • pros Competitive interest rates
  • pros no monthly fees
  • pros easy online access
  • pros FDIC insured
  • pros and mobile banking.

Cons

  • consLimited access to physical branches
  • cons variable interest rates
  • cons and potential withdrawal restrictions.
View All

6.

Capital One 360 Performance

less
Capital One 360 Performance is a high-yield savings account offered by Capital One, designed to help customers grow their savings with competitive interest rates. It features no monthly maintenance fees and no minimum balance requirements, making it accessible for a wide range of savers. The account allows for easy online banking and mobile access, enabling users to manage their funds conveniently. Additionally, deposits are insured by the FDIC up to applicable limits, providing security for account holders. Overall, it offers a straightforward and effective way to save money.

Pros

  • pros High interest rates
  • pros no fees
  • pros easy online access
  • pros user-friendly app
  • pros FDIC insured.

Cons

  • consLimited physical branch access
  • cons potential fees for certain transactions
  • cons lower interest rates than competitors.
View All

7.

CIT Bank Savings Builder

less
CIT Bank Savings Builder is a high-yield savings account designed to help customers grow their savings with competitive interest rates. To earn the highest rates, account holders must maintain a minimum balance or make regular monthly deposits. The account features no monthly maintenance fees, making it an attractive option for savers. With easy online access and FDIC insurance, CIT Bank Savings Builder combines convenience and security, encouraging users to build their savings over time while enjoying the benefits of high-interest earning potential.

Pros

  • pros High interest rates
  • pros no monthly fees
  • pros easy online access
  • pros and no minimum balance requirements.

Cons

  • consLow interest rates
  • cons high minimum balance requirements
  • cons limited branch access
  • cons and potential fees.
View All

8.

Barclays Online Savings

less
Barclays Online Savings is a high-yield savings account offered by Barclays Bank, designed to help customers grow their savings with competitive interest rates. There are no monthly maintenance fees, and account holders can easily manage their funds online or through the mobile app. The account provides easy access to funds, allowing for convenient withdrawals and transfers. Additionally, Barclays Online Savings is FDIC-insured, ensuring the safety of deposits up to the legal limit. This account is ideal for individuals seeking a simple and efficient way to save money.

Pros

  • pros High interest rates
  • pros no monthly fees
  • pros easy online access
  • pros FDIC insured
  • pros flexible withdrawals.

Cons

  • consLow interest rates
  • cons limited access
  • cons potential fees
  • cons no physical branches
  • cons and online-only support.
View All

9.

Vio Bank High Yield Savings

less
Vio Bank High Yield Savings offers a competitive interest rate significantly higher than traditional savings accounts, allowing customers to grow their savings more effectively. With no monthly maintenance fees and no minimum balance requirement, it provides easy access to funds while encouraging saving. The account is FDIC-insured, ensuring deposits are protected up to the legal limit. Customers can manage their accounts conveniently online, making it an attractive option for those seeking a high-yield savings solution with flexibility and security.

Pros

  • pros Competitive interest rates
  • pros no monthly fees
  • pros easy online access
  • pros FDIC insured
  • pros minimal balance requirements.

Cons

  • consLimited physical branches
  • cons potential high fees
  • cons variable interest rates
  • cons online-only access
  • cons customer service concerns.
View All

10.

FNBO Direct Online Savings

less
FNBO Direct Online Savings offers a high-yield savings account designed to help customers grow their savings with competitive interest rates and no monthly maintenance fees. Accessible online, the account allows for easy fund transfers and management through a user-friendly platform. With no minimum balance requirement, it caters to both new savers and those looking to maximize their earnings. Additionally, FNBO Direct prioritizes security and customer support, ensuring a reliable banking experience. Overall, it’s a convenient option for individuals seeking to enhance their savings efficiently.

Pros

  • pros High interest rates
  • pros no monthly fees
  • pros easy online access
  • pros FDIC insured
  • pros user-friendly interface.

Cons

  • consLow interest rates
  • cons limited access to physical branches
  • cons potential fees for inactivity.
View All

Similar Topic You Might Be Interested In