NerdWallet’s Best Savings Accounts, Spring 2015

When it comes to earning interest and keeping your excess cash safe, a savings account is one of the simplest options out there. Unfortunately, national average savings account rates are devastatingly low.  So don’t take for granted that your current bank will have the best account or the highest interest rate. Unlike a checking account, you shouldn’t need to access the money on a regular basis, so choose an account based on the best yield and features, rather than the most convenient location. For more information, try our savings account search tool to find the highest rates at a bank or credit union near you.

Best savings account for a top-notch yield: Barclays Online Savings

1.00% APY*
Open Now

On Barclays'
secure website

The Barclays Online Savings account offers one of the highest interest rates around, so if yield is your primary concern then Barclays is a solid choice. Anyone can open an account with as little as a dollar, so there's also little barrier to entry - round up the change in your couch cushion and put it to use! To sweeten the deal, you can sit back and relax knowing that there are no monthly fees or minimum balances as a Barclays Online Savings customer. Finally, deposits are easily made from linked checking or savings accounts, which means that you can put your savings plan on autopilot.

Best savings account bonus: Chase Savings ($100 bonus)


On Chase's
secure website

If cold-hard cash is what motivates you, look no further than a Chase Savings account for an easy up-front bonus. To earn a $100 bonus, you’ll need to open a Chase Savings account, deposit a total of $10,000 or more in new money within 10 days and maintain a $10,000 balance for 90 days. As one of the biggest banks in the nation, you’ll also have easy access to your account from thousands of branch and ATM locations. Not to mention, you can use services such as Chase QuickDeposit to deposit checks from anywhere, and Chase QuickPay to pay your friends.

Best local option: Aspire Federal Credit Union - Premier Advantage Money Market

APY* for balances $50,000+
If you've got a good chunk of cash saved up, a money market account with Aspire FCU can help you make the most of it. Their Premier Advantage Money Market offers a top-notch interest rate, as well as super convenient options to access your money. If you're on the move, it's easy to check your balance and make deposits online or with their mobile app. Or, if you prefer the physical world of banking, you have access to any of 5,000+ CO-OP Shared Branch locations and 70,000+ surcharge-free ATMs nationwide. Membership is available to employees of Aspire's Select Employer Groups (SEGs) or through immediate family or household members of Aspire FCU. Alternatively, you may still be eligible to join through their partner association, the American Consumer Council.

Best account for tech-savvy savers: Capital One 360 - 360 Savings

0.75% APY*
Open Now

On Capital One
360's secure website

For the more tech savvy saver, Capital One 360's 360 Savings account is a great option. Their mobile app allows you to easily manage your account, view transactions, deposit checks, and more. Their savings account has no monthly fees or minimum required balances, and the same holds true for their related accounts like 360 Checking. They also make it easy to open multiple accounts for different savings goals. Finally, Capital One's savings yield is consistently one of the best rates around, so you can watch your spare cash grow quickly.

Best community bank savings account: Radius Bank High-Yield Savings

0.85% APY*

On Radius Bank's
secure website

Radius Bank is a community bank with locations in Massachusetts and New York, but savers can take advantage of their top-notch account from anywhere in the U.S. by opening online. Radius' High-Yield Savings account offers a yield that's over 10 times the national average for balances over $2,500, but even if your balance drops below that amount, there's no need to freak out. You'll still earn a small amount of interest and won't have to face any monthly fees. If you don't live near a Radius Bank branch but still want to open an account, just use their mobile banking app to deposit checks!
* Rates updated weekly

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  • Dana

    As Mallika pointed out, they’re taken over by Capital One now and it is just as well. I experienced them closing my account because they pulled my credit report and didn’t like my rating. I have had savings accounts since I was a teenager and I have never been treated like that before or since.

  • Jacquie A. McMahon

    Charles Schwab has a high-yield investor savings account with no fees that currently has a 1% interest rate. Thinking about opening one myself and though I’d share!

    • PG

      That’s actually 0.1%

      • Jacquie A. McMahon

        I called the customer service line, and I was indeed told incorrect information on the phone the first time. Thank you for clarifying.

        • PG

          You’re welcome :-)
          I’m a big fan of their checking account, so jumped online trying to find the 1% rate…

          • Jacquie A. McMahon

            It seemed too good to be true! Guess it was…