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10 Best High-Yield Online Savings Accounts of 2019

Feb. 20, 2019
Banking, Savings Accounts
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The best online savings accounts give you a safe place to park your money while providing high-yield savings rates.

Because online banks don’t have the expense of maintaining branches, they can offer high-interest savings paying upward of 2% APY — many times higher than the national average of 0.10%. That may not sound like much of a difference, but it adds up.

Our Nerds did extensive, independent research on dozens of banks to find the best high-yield savings accounts. We looked for the best savings interest rates great digital tools, free access to plenty of ATMs and more.

Best high-yield savings accounts
Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

Marcus by Goldman Sachs Online Savings

4.0 cheatgame.info rating
HSBC

at HSBC,

Member, FDIC

HSBC Direct Savings

3.5 cheatgame.info rating
Barclays

at Barclays,

Member, FDIC

Barclays Online Savings

4.0 cheatgame.info rating
American Express National Bank

at American Express National Bank,

Member, FDIC

American Express National Bank High-Yield Savings

4.0 cheatgame.info rating
Discover

at Discover,

Member, FDIC

Discover Bank Online Savings

4.5 cheatgame.info rating
PurePoint Financial, a Division of MUFG Union Bank, NA

at PurePoint Financial, a Division of MUFG Union Bank, NA,

Member, FDIC

PurePoint Financial Online Savings

3.0 cheatgame.info rating

Alliant Online Savings

4.5 cheatgame.info rating

Bank5 Connect High-Interest Savings

4.0 cheatgame.info rating

FNBO Direct Online Savings Account

4.0 cheatgame.info rating

 

cheatgame.info’s best high-yield savings accounts

Read on for more details about cheatgame.info’s top high-yield online savings accounts.

And keep in mind: When you have sufficient funds stored in your deposit accounts (see what’s recommended) and you’re willing to take on some risk, look to investing. The stock market’s average annual return is 8%. A good place to start is the top IRA accounts, once you have a cash cushion in a high-yield savings account.

Marcus by Goldman Sachs, 2.25% APY

4.0 cheatgame.info rating
Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

Marcus by Goldman Sachs pays a highly competitive 2.25% APY on savings deposits (as well as strong CD rates for longer-term savings goals). This online bank charges no monthly fees, and the minimum balance required to earn interest is just $1. But the bank doesn’t offer a checking account or access to an ATM network. And its savings account requires another bank account to make deposits and withdrawals. (For CD rates and more, read our Marcus by Goldman Sachs review.)

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HSBC, 2.25% APY

3.5 cheatgame.info rating
HSBC

at HSBC,

Member, FDIC

HSBC’s Direct Savings account is an online option from the well-known international bank. It pays a competitive 2.25% APY and has no monthly fees. In addition, you need only $1 to open an account. Direct Savings also comes with HSBC’s set of online management tools. Customers can set custom savings goals, track income and create email alerts.

 

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Barclays Online Savings, 2.20% APY

4.0 cheatgame.info rating
Barclays

at Barclays,

Member, FDIC

Barclays, an online division of the global financial services company, offers U.S. customers a high-yield savings account accessible through a streamlined website. There’s no monthly fee or minimum balance requirement. With a 2.20% APY, the interest rate is among the highest out there. Customer service is available by phone. Like Goldman Sachs, the bank has no checking account or ATM network. (For more about the bank, read our Barclays review.)

American Express National Bank, 2.10% APY

4.0 cheatgame.info rating
American Express National Bank

at American Express National Bank,

Member, FDIC

The well-known credit card company offers a savings account with an impressive annual percentage yield of 2.10%. With American Express, there are no monthly fees or minimum balance requirements. But the company does not offer ATM cards or checks.

Discover Bank, 2.10% APY

4.5 cheatgame.info rating
Discover

at Discover,

Member, FDIC

Discover Bank has a strong APY of 2.10%. The bank’s website is easy to navigate, and both its iOS and Android apps receive high ratings. There’s one branch in Delaware, but customer support is available by phone 24/7. Discover also has a $150 or $200 bonus for first-time savings customers. There is no monthly fee, but note that the deposit requirement to earn a bonus is fairly substantial at $15,000 or or $25,000, respectively. (Details below.)

For more about the bank, including its highly rated checking account, see our Discover review.


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PurePoint Financial, 2.35% APY

3.0 cheatgame.info rating
PurePoint Financial, a Division of MUFG Union Bank, NA

at PurePoint Financial, a Division of MUFG Union Bank, NA,

Member, FDIC

This is a strong account for higher balances, paying out a 2.35% APY if you have at least $10,000 in the account, and 0.25% below that amount.

There are no monthly fees, and mobile and online features are solid, as expected for this largely online bank.

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Alliant, 2.10% APY

4.5 cheatgame.info rating

Many credit unions restrict their membership by area or employer, but Chicago-based Alliant Credit Union is different. You can apply for membership by indicating your support for the charity Foster Care to Success. (Alliant will make a $5 donation on your behalf.) Members can open an Alliant savings account that pays a 2.10% APY on balances of $100 or more. The credit union waives the $1 monthly fee if you choose e-statements. Phone support is available 24/7.

A $5 minimum deposit is required to open an account, but Alliant has you covered there: The credit union pays you a $5 bonus when you open an account. (See our Alliant review for more details.)

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Bank5 Connect High-Interest Savings Account, 2.05% APY

4.0 cheatgame.info rating

A Bank5 Connect High-Interest Savings Account comes with an APY of 2.05%. There are no monthly service fees if you enroll in electronic statements.

You’ll need to keep at least $100 in your account to earn the high APY.

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FNBO Direct Online Savings Account, 2.25% APY

4.0 cheatgame.info rating

An FNBO Direct online savings account can help your money grow with an APY of 2.25% and no monthly service fees. There are also no steep minimums — you need just $1 to open an account.

You can access your account with the bank’s mobile app. The online bank is a division of First National Bank of Omaha.

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3.5 cheatgame.info rating

If you are looking for an account to park your cash where you can earn high rates, Popular Direct’s Plus Savings Account offers 2.36% APY. Note that the bank, an online division of Popular Bank, requires a steep $5,000 minimum to open the savings account. You’ll also need to keep a balance of at least $500 on a daily basis, or there will be a $4 monthly service fee. You can access the account by using the bank’s mobile app, although so far, app store ratings are low, with some complaints about a difficult sign-in process. Customer service representatives are available 24/7 by phone.

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More top choices for the best savings interest rates

Here are five more competitive choices for high-yield savings. These banks may have a higher minimum balance to earn interest, or a slightly lower APY. But when you’re shopping for the account that fits you best, they’re worth checking out.

  • Axos Bank, 1.30% savings APY with no minimum (read full review)
  • Citizens Access, 2.35% savings APY, $5,000 minimum (read full review)
  • Ally Bank, 2.20% savings APY with no minimum (read full review)
  • Synchrony, 2.25% savings APY with no minimum (read full review)
  • CIT Bank, 2.45% savings APY with monthly deposits of at least $100 in the Savings Builder account (read full review)

» Interested in getting money from banks? See cheatgame.info’s best bank account promotions and bonuses


Methodology

We took a close look at over 70 financial institutions, including the largest U.S. banks based on assets, debit card volume, Internet search traffic and other factors; the nation’s largest credit unions, based on deposits as well as broad-based membership requirements; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions surveyed include: Alaska USA Federal Credit UnionAlliant Credit UnionAlly BankAmerica First Credit UnionAmerican ExpressAspirationAssociated BankAxos BankBank5 Connect, Bank7, Bank of AmericaBank of the WestBarclays, BB&T, BBVA CompassBoeing Employees Credit Union, BMO Harris, Capital One 360Charles Schwab BankChaseChimeCITCitibankCitizens AccessCitizens Bank, Comerica Bank, Commerce BankConnexus Credit UnionConsumers Credit UnionDiscover Bank, E-Trade, FidelityFifth Third BankFirst National BankFirst Tech Federal Credit UnionGoBankGolden 1 Credit UnionGS BankHSBC Bank USAHuntington BankKeyBank, MetaBank, M&T BankMovenNavy Federal Credit UnionPentagon Federal Credit UnionPNC, Popular Direct, PurePoint Financial, Radius Bank, Redneck Bank, Regions BankSallie Mae BankSantander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, SimpleState Employees’ Credit Union of North CarolinaState Farm BankSuncoast Credit Union, SunTrust Bank, Synchrony BankTCF BankTD BankTIAA BankUnion BankUFB DirectUSAAU.S. BankVaroWells Fargo and Zions Bank.

How we rate banks and credit unions

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