Here’s a quick breakdown of the best savings accounts for your money right now:
We evaluate savings accounts based on their annual percentage rate (the interest you receive), the minimum balance requirements, locations available, and the terms and conditions of having the account. We may receive compensation from some or all of the companies listed below. Here are our recommendations of the best high yield savings accounts.
Discover Bank has been around for a long time online, but not many people realize they have a bank beyond their credit cards. In fact, Discover is an incredibly robust bank with a great high yield savings account as well!Right now, you can earn APY.Their account has no minimum balance requirements, and no fees!Read our full Discover Bank review here.
These accounts aren’t high yield savings accounts, but rather cash management accounts. However, they’ve been making a splash and have a compelling offer.
Synchrony Bank is one of the “old guard” on this list – one of the original online high yield savings account offerings. It consistently has a high APY, and a solid account.This account has no monthly fee or minimum balance requirements. It also offers an ATM card with ATM reimbursements (which is rare for a savings account – much more common on a checking account). Right now, you can earn APY. Read our full Synchrony Bank review here.
HSBC is a bank that has been around for a long time – but only recently making big strides in the United States. They are one of the largest and most robust banks on this list, and they have a great savings account with a competitive high yield.Combine their high yield savings account with the fact that they have $0 monthly maintenance fees and great online banking, this should be a top choice!Right now they offer one of the highest rates atAPY, with no minimum balance requirements! FDIC Insured. Read our full HSBC Online Banking Review here.Plus, combine it with a Premier checking account, and you can get up to a $700 welcome bonus!
Comenity Direct has an online high yield savings account that rivals most well-known banks. Plus, this bank has no hidden fees and they make accessing your money easy!Right now they offer a great rate atAPY, with just a $100 minimum balance and no monthly maintenance fees fees! You can also earn interest on up to $10,000,000 – which is extremely generous compared to most accounts.
is a new account that’s been making this year. This account uses a network of banks to optimize the interest you can earn on your money! And it provides FDIC insurance up to $5 million.You don’t pay monthly fees and there are no account minimums.Right now you can earnAPY. APY Variable and Subject to Change.Check out our full Credit Karma review here.
A high yield savings account can be a great way to save your money. You typically earn higher interest rates, but there are some restrictions above and beyond what you usually find for normal savings accounts. You can compare the differences between a savings account and money market here.Just like any account, make sure you’re opening the best savings account for your needs so you can reap the rewards.