20 Online Savings Accounts Earning High Rates of Interest

Is your savings account earning as much as it should? Below is a list of the top twenty, high interest, online savings accounts:

  • Everbank offers high-yield checking and savings accounts with a variety of APYs, including three-month bonus rates of 1.26% for new accounts. The details are too complicated for this post, and there’s a $1500 minimum deposit. Click through to learn more.
  • Incredible Bank is paying 1.21% APY with a $1000 minimum deposit. This is a checking account, not a savings account. If you read the fine print at the Incredible Bank homepage, you’ll see there’s a money-market account available with similar rates.
  • SFGI Direct offers a 1.16% APY savings account with a $500 minimum to open (but only a $1 ongoing minimum balance). The SFGI Direct savings account can only link to one external account.
  • Discover Bank has a 1.15% APY online savings account with a $500 minimum to open.
  • CNB Bank Direct pays 1.15% APY on its high-yield savings account with a $1 minimum balance.
  • Sallie Mae Bank has a 1.10% 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.
  • GRS reader favorite SmartyPig is paying 1.10% APY on the first $50,000 in an account (and 0.50% APY on anything over that). SmartyPig is a goal-oriented savings account that many folks love.
  • Capital One has an online savings account that pays 1.10% APY on balances over $1000. Under certain conditions (you have a Capital One credit card, for instance), you can earn a 10% bonus on your interest earned.
  • Nationwide Bank is paying 1.05% APY with a $1000 minimum opening balance.
  • OneWest Bank has a Green Savings account that currently pays 1.05% APY.
  • Ally Bank currently offers a 1.04% APY savings account with no minimums.
  • Zions Bank has long had some of the top savings account APYs in the country, and they’re at 1.01% APY right now. To qualify for this rate, your balance must be over $2500, though.
  • iGOBanking is providing a 1.01% APY with no fees and no minimums.
  • WT Direct is paying a 1.01% APY with a $10,000 minimum balance.
  • Perennial favorite ING Direct is paying 1.00% APY with no minimums. ING Direct is the darling of the personal-finance blogosphere. I use them too. But they were recently acquired by Capital One, a company many folks dislike.
  • American Express offers a 1.00% APY high-yield savings account with no fees and no minimums.
  • Dollar Savings Direct has an APY of 0.90% with no fees and a $1000 minimum balance.
  • FNBO Direct has an 0.85% APY online savings account with a $1 minimum deposit.
  • The HSBC online savings account currently provides an 0.80% APY. There are no fees and no minimums, though you do need a buck to open the account.
  • Emigrant Direct also offers 0.80% APY with no fees and no minimums.

Again, these rates are nothing to celebrate. However, my own savings account receives %.05 percent. The top rate of interest offered of 1.26% in the list above is considerably better. It’s not enough to retire, but it is still extra money and for minimal effort.

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