Savings Accounts Savings Accounts Reviews & Prices

Given the current economic climate, saving money is more important than it has ever been. The easiest way to save money without risk is to put your savings in an online account with a high APY, or annual percentage yield. Since online banks do not have to maintain brick and mortar locations, they can afford to offer more favorable interest rates. We have reviewed the best high yield savings accounts, comparing the APY, fees, and account maintenance requirements. To learn more about online savings accounts, visit our online savings blog.

Updated 11-06-2018

Savings Accounts Comparison Chart

Service NameAPYMonthly FeesMinimum
Balance
to
Maintain
Minimum to Open AccountMaximum Withdrawals Per MonthDeposit and Withdrawal MethodsBottom Line
Discover Online Savings Account 1.90%None$0$06Electronic transfer, wire, check Solid APY for low balance savings accounts and competitive CD rates makes Discover a well-rounded service
CIT Bank 1.55% for Premier High Yeild Savings Account; 2.15% for Savings Builder w/ $100 monthly depositNone$0$1006Electronic transfer, wire, check Offers more simplistic (if not limiting) features; extremely competitive APY that's perfect for someone planning to save any amount
Ally Bank 1.90% for all tiersNone$0$06Electronic transfer, wire, check With a high APY, $0 minimum balance and no minimum deposit to open, Ally Bank sets the standard of online banking
Capital One 360 1.00%None$0$06Electronic transfer, wire, check An older direct bank with the resources of an established bank; while APYs aren't the highest, features like goal tracking and kid-friendly banking options make it more appealing
HSBC 0.01%; 0.05% on $10,0000+; 0.15% on $100,000+None$0$1 ($0 in branch or via phone)6Electronic transfer, wire, check, ATMs APYs only outcompete those of traditional banks; however, the service excels at accessibility and is a strong contender among the brick-and-mortar banks

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