Top High Yield Online Savings Accounts - NerdWallet
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NerdWallet’s Top High Yield Online Savings Accounts

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Extreme close-up of hand holding a modern smartphone with a generic mobile banking app running. This is a version with Dollar symbol.

Note to inspector, concerning copyright etc: The whole screen (every single graphic element, including battery indicator) is designed by myself.

In the old days, a bank was a well-guarded building where wealth was stored. But in the digital age, most of our money never ends up in physical form. With less necessity for maintaining branches, many banks are focusing on creating fantastic customer experiences where the majority of us do our banking — online.

Here are NerdWallet’s top high yield online savings accounts.

Best yield with ATM access: Synchrony High Yield Savings

Synchrony has a low $30 minimum to open an account, and maintaining a balance of $30 or more avoids a monthly fee. The bank also gives you a rebate of $5 per month toward third-party ATMs. The bank does offer a mobile app, but the only support options seem to be phone or Twitter.

If a high yield — currently 1.05%* — and ATM access are must-haves for your online savings account, Synchrony is a good option.

Best overall digital experience: Ally Bank

Though its 1.00%* interest rate is not the best you’ll find, Ally deserves recognition for its easy-to-use website design and platform-agnostic tools. Its customer service options are unusually broad, including a 24-hour call center and secure online chat for the phone-phobic among us.

The Ally online savings account can be hooked up to a checking account to serve as overdraft protection, and the bank got glowing reviews from the Pew Charitable Trust in its May 2015 roundup of consumer-friendly banks.

If good design and high-tech customer service are important to you, Ally may be the right choice.

>> MORE: NerdWallet’s Top Online Checking Accounts

Best yield for power savers: Barclays Dream Account

On top of its already impressive interest rate of 1.05%*, Barclays offers a rate bonus if you meet certain requirements. You can get a boost of 2.5% on the interest you’ve earned if you make deposits in your savings account for six months in a row and another 2.5% on the interest you’ve earned if you don’t make a withdrawal over that period.

The bonus rate is retroactive, covering the previous six months, but you can deposit only $1,000 a month into your account. Even though you’re allowed to have up to three Dream accounts, the interest bonus doesn’t add up to a lot of money. Still, it may be appealing to people looking for motivation to save more.

The bank’s overdraft fee is only $5, but there’s no limit on the number of $5 fees you can incur at one time. If a deposit doesn’t clear and you make several withdrawal or transfer requests, you could face multiple overdraft fees.

Customer support is mostly limited to phone access, a downer for people who prefer online help. But if you’re an interest rate maximizer, you really can’t go wrong with the Barclays Dream Account.

Best feature to help you save: Capital One 360

Most people are saving money for multiple goals. You may be building up an emergency fund, saving for your summer vacation and socking away money to replace your elderly car. It can be hard to prevent yourself from mixing those pots of money together, spending too much of your emergency fund on a vacation or buying a junker car because you’re afraid to dip too far into your rainy-day fund.

Capital One 360’s genius solution is to allow online savings account holders to divide their money among multiple accounts — as many as 25. Easily renamed to reflect what you’re saving for, these accounts can be viewed all at once, and money can be transferred between them. There is no monthly fee, and overdraft fees are not an issue because transactions are simply denied if there are insufficient funds in the accounts. Account holders get an interest rate of 0.75%*.

If you like to organize your savings goals into separate categories, you and Capital One 360 are made for each other.

Making banking better

Savings accounts are almost a necessity for protecting some of your money from monthly cash flow needs. Although many brick-and-mortar banks excel at providing online tools, you might be happiest with a bank that focuses all its funds and customer service muscle toward technological solutions.

*Interest rates updated weekly.

Virginia C. McGuire is a staff writer at NerdWallet, a personal finance website. Email: virginia@nerdwallet.com. Twitter: @vcmcguire. Devan Goldstein of NerdWallet contributed to this report.

Updated June 15, 2015.


Financial institutions reviewed

Banks and credit unions we reviewed for this article: Ally Bank, Bank of America, Barclays, BB&T, Capital One 360, Chase, CIT Bank, Citibank, GE Capital Bank, Pentagon Federal Credit Union, Simple, Synchrony Bank, U.S. Bank and Wells Fargo.

Do you have a favorite online savings account we didn’t mention? Tell us about it in the comments.


Image via iStock.

  • disqus_VardyxgvYB

    Do any of these banks ever have promos where you get a bonus (like $25) for opening a new account?

    • NWjohn

      They sometimes do, though as far as we know those above don’t currently. If you’re looking for some bonus cash, check our up-to-date list of checking account promotions here:
      http://www.nerdwallet.com/blog/banking/checking-account-promotions/

    • PT

      Capital One 360 has a referral program that gives $25 to the person opening the account and $10 to the referring customer.

      • PJWilliamson

        Yes they do and I have used it.

  • disqus_VardyxgvYB

    Do any of these banks ever have promos where you get a bonus (like $25) for opening a new account?

  • http://twitter.com/RecoveringCons RecoveringConsultant

    Unfortunately the information on Amex savings accounts is inaccurate. You CANNOT manage both from a single login. They require separate logins and passwords.

  • http://twitter.com/RecoveringCons RecoveringConsultant

    Unfortunately the information on Amex savings accounts is inaccurate. You CANNOT manage both from a single login. They require separate logins and passwords.

  • Jeff Tewlow

    Titled is incorrect. It should read “Turdwallet’s top 10 advertisers”. The information is also entirely incorrect.

    • NWjohn

      Sorry to hear you feel that way Jeff. This page is meant to highlight the highest-yielding accounts at online banks, but we also list many great accounts at local banks and credit unions in our more comprehensive rates tool: http://www.nerdwallet.com/rates/savings-account. If there’s anything specific you feel is incorrect about this page we would be happy to review it.

      • Jeff Tewlow

        That tool sucks too. Depositaccounts.com and mybanktracker.com are real sites with actionable info. This one is bullshit and misleading, especially to folks in our third age, like myself. Please close this crap down.

        • Andrew

          nice specific facts to support your argument

          • Bill

            Jeff is correct. These are the biggest advertisers in the industry. I took a quick look at bestcashcow.com and found Salem Five Direct at .90% APY, Incredible Bank at .86% APY, FNBO at .85% APY. None of these banks seem to advertise so none are on this list.

      • eroteme1

        Highest yielding accounts when talking about 1% or less. This is about the same as receiving no interest at all. Their may be advantage over using your mattress, but safety is the only advantage I can think of.

    • MichaelB

      Big fat claim. How about an example or two?

      • PJWilliamson

        Not all of it, Capitalone 360 bought out Ingdirect because they liked their way of doing business. I also happen to have one checking and one saving with indirect/360. I like it because their are no overdraft fees, You can set up an overdraft amount to borrow if needed and pay very low fee like 11% interest on the amount you borrowed until your next direct deposit comes in, and I have mine set up at $50 so the fee in in the cents.
        I can transfer from one account to the other with no fee and instantly. I can take a picture of a check to deposit. Yes you have to wait a few days but I don’t use it. I use direct deposit and have a debit card that I can use even though I have no money in the account up to $50 and all they charge is the one time % until my next deposit. This has saved me lots of money in comparison to other brick and mortal banks.

    • Bob West

      how rude you are…. first of all name calling is just plain childish, and next, if you have proof, show it. I would suspect you are less credible than the author.

  • Jeff Tewlow

    Titled is incorrect. It should read “Turdwallet’s top 10 advertisers”. The information is also entirely incorrect.

  • Frugalnaire

    Great article. I think it’s worth mentioning to folks who consider SallieMae bank a few other quirks.

    First, whenever you deposit funds over $6K they will hold the funds for two weeks which appears isnt getting any interest while its being held.

    Secondly, if you need your money right away dont chose this bank; most banks offer a wire transer option for “same day delivery” to another financial instution. With SallieMae they quote 1-2 days and require a photo id to be faxed before submitting a wire. Oh plus a $20 wire-transaction fee which really doesn’t lend itself over the standard ach debit/widthraw (2-3 delivery) which are free.

    • PJWilliamson

      Thank you for this information I almost chose this one, Seems they get back their 10% bonus

  • Frugalnaire

    Great article. I think it’s worth mentioning to folks who consider SallieMae bank a few other quirks.

    First, whenever you deposit funds over $6K they will hold the funds for two weeks which appears isnt getting any interest while its being held.

    Secondly, if you need your money right away dont chose this bank; most banks offer a wire transer option for “same day delivery” to another financial instution. With SallieMae they quote 1-2 days and require a photo id to be faxed before submitting a wire. Oh plus a $20 wire-transaction fee which really doesn’t lend itself over the standard ach debit/widthraw (2-3 delivery) which are free.

  • Stefan Sajgalik

    Wow didn’t know the interest rates were so low over there.. In Canada, with a simple eSavings account from RBC I get 1.3% with no minimum balance and unlimited online transactions :)

    • Lisa Thatch

      It takes $1 72 years to double at 1% so I don’t think that 1.3% is such a great deal. IJS

      • Stefan Sajgalik

        Regardless, it is still double some of the best interest rates banks in the US offer. Anyway, having your money in a savings account is not a good idea, as the interest rate isn’t even high enough to keep up with inflation – IJS

  • Stefan Sajgalik

    Wow didn’t know the interest rates were so low over there.. In Canada, with a simple eSavings account from RBC I get 1.3% with no minimum balance and unlimited online transactions :)

  • Karthik Keyan

    Is there any online banks for international users like asians?

    • Don Holmes

      found wellsfargo to be the best for sending money only charge $5.00 cash or bank account i do the bank account in the phillippines

  • Karthik Keyan

    Is there any online banks for international users like asians?

  • http://fredricwilliams.freeservers.com/ Fredric Dennis Williams

    It would be helpful to have a DATE for information of this sort. Without a date, it is unreliable.

    • SuperKirby

      I agree Frederic. So many times I read things on the internet and realize THERE IS NO DATE! I just exit and read some other articles with dates.

      • NWjohn

        Hi all,

        Thanks for your comments! We don’t have a date on this page because it is constantly being updated to reflect the most current information about these accounts. Our intention is that readers will be able to find everything in one location rather than several.

        • SuperKirby

          thanks, it would REALLY be helpful if you guys put something like: Updated 9/6/13. =)

        • MichaelB

          Poor excuse. What readers want to know is HOW OLD the data is.

        • slappinbitches

          It’s just poor management, if we can’t trust you to put a last updated on date why should we trust that your information is correct?

          • asdf

            Apparently that’s too difficult!

        • topcommenter

          Then you’re intentionally misleading aren’t you…

        • Conscious

          It does say rates updated *weekly and you should be confirming by doing your own research anyway. What’s the point of being rude?

        • Oskeet Skeet

          Still being updated?

    • Dickbone

      Agreed. Appears as though it is September 3, 2013

  • http://fredricwilliams.freeservers.com/ Fredric Dennis Williams

    It would be helpful to have a DATE for information of this sort. Without a date, it is unreliable.

  • Colin Stuart

    GE & Barclays both have the highest rates here (0.9%)… which is the better account? Which is quicker? Which has less fees?

  • Colin Stuart

    GE & Barclays both have the highest rates here (0.9%)… which is the better account? Which is quicker? Which has less fees?

  • felixmk

    What about Ally. Their rate is 0.84%.

    • Ray Polakovic

      #3 on the list.

  • felixmk

    What about Ally. Their rate is 0.84%.

  • JRivasA

    Bank on cit. had them for a year…. .90 or higher has been the average. :)

  • JRivasA

    Bank on cit. had them for a year…. .90 or higher has been the average. :)

  • Jerry

    I have to say that GE Online Saving is REALLY BAD. At first, they wouldn’t make deposit to my external bank to verify. Next, I re-added external bank info and it removed saving account. Then I got an email saying my credit doesn’t look too good.(What is my credit score has anything to do with saving?) Then I called them and they fixed everything. This morning I got two deposit to verify. I entered the amount, then it complained that it is not correct. After several try, my account froze and told me to call. Before I made a call, I looked up my saving account info and guess what? it disappeared. I called anyway. They put me on hold. When they came back, they told me that my account has disappeared and the reason will be sent to me in mail and wouldn’t tell me why I can’t have my account. Basically, they told me to go save somewhere else… what the ???? Stay away from them!!!!

    • Bob West

      been using GE for some time now and easy to set up, and manage. I guess there is a lemon in everything, but I am ok with them

  • Jerry

    I have to say that GE Online Saving is REALLY BAD. At first, they wouldn’t make deposit to my external bank to verify. Next, I re-added external bank info and it removed saving account. Then I got an email saying my credit doesn’t look too good.(What is my credit score has anything to do with saving?) Then I called them and they fixed everything. This morning I got two deposit to verify. I entered the amount, then it complained that it is not correct. After several try, my account froze and told me to call. Before I made a call, I looked up my saving account info and guess what? it disappeared. I called anyway. They put me on hold. When they came back, they told me that my account has disappeared and the reason will be sent to me in mail and wouldn’t tell me why I can’t have my account. Basically, they told me to go save somewhere else… what the ???? Stay away from them!!!!

  • Ty Quando

    Sorry for showing my age, but when I was in 2nd grade you got 5 1/8 % interest on savings and this current inability to get more than 1% is all about the banks getting Congress to permit them to act as brokerage firms so that they give you nothing on savings accounts and when you want anything above 1% they steer you to their brokerage departments which are staffed by young weasels cheating you a thousand different ways. I know this because both JPMorgan Chase and Wells Fargo have done it to me.

    • SteveO

      It has absolutely nothing to do with anything you mentioned. It’s the Fed’s target interest rate of 0% that is dragging down returns. Coincidentally, it’s also forced all investment into the stock market causing the recent run ups, as there’s no way to make money from savings. As soon as the Fed moves the target off 0, the bubble is going to pop big time.

      • Ty Quando

        Thanks! I looked it up. Learned what the Fed Reserve Discount rate is. Got it!

  • Ty Quando

    Sorry for showing my age, but when I was in 2nd grade you got 5 1/8 % interest on savings and this current inability to get more than 1% is all about the banks getting Congress to permit them to act as brokerage firms so that they give you nothing on savings accounts and when you want anything above 1% they steer you to their brokerage departments which are staffed by young weasels cheating you a thousand different ways. I know this because both JPMorgan Chase and Wells Fargo have done it to me.

  • browneyedgirly

    Smarty Pig offers 1.0% – Higher than anything listed here…

    • NWjohn

      Very true, thanks for the tip! We don’t list Smarty Pig here because they are not an actual bank or credit union (however funds are held on deposit at BBVA Compass bank). Also, while your funds can be withdrawn straight back into another account when you reach your goals, Smarty Pig tends to favor redemption in the form of gift cards or a reload-able debit card, which incentivizes savers to use their funds for specific purchase goals rather than other long-term goals like building an emergency fund or saving for education.

      • browneyedgirly

        I agree about the incentives but with self control it’s a really good option. I love that they allow you multiple goals under one account.

      • YDM MDY

        that’s good to know in case one would need cash right away.

    • Cyndrome

      Been using SP since 2010. Never been charged a fee or had any issues with transfers. Also, there is no obligation to purchase specialized gift cards upon redemption; it’s only an option.

      • VanVan

        It looks like it would be fake. So you two have had a positive experience with Smarty Pig?

        • RamageKy

          I’ve used SmartyPig for several years. It’s simply a web storefront for goal-oriented savings. They contract with BBVA Compass to handle the banking side of the business, and it is FDIC insured. A few things to know in advance because it is a little different:
          1) To set up a new goal, you must deposit at least $25 from another checking or savings account.
          2) You can transfer money between goals, however you can only withdraw money out of SP by closing out one of your goals.

          The best way to handle this is to set up at least two goals. This way the initial deposit on your goals is already done, so when you need to withdraw you would just transfer money between goals, then close out one of your goals.

          Obviously, this lack of flexibility with withdrawals is what affords them to pay more interest. I think of it as a completely custom CD with one withdrawal when you decide it’s term has ended.

          Side note, BBVA Compass also has an interesting option for savings if you wanted to open an account directly with them. It’s called Build My Savings: http://www.bbvacompass.com/buildmysavings/

        • bob

          Its definitely not fake, been around for a while. I haven’t personally used it, but they’re totally legit.

        • Cyndrome

          Super positive, yeah. Received 6 or 7 referral bonuses and have always received my quarterly interest payments. Never had any issues with transferring in or out.

    • Calvin

      Navy Federal CU offers 3.0%

      • Jason Ramage

        The credit union deals make sense for debit card users. They’re simply giving you a similar reward to what you would earn on a credit card. Terms will vary, but they typically require 12 debits per month that total $200+, and the 3% interest rate only applies to the first $5,000 or so, which is $150 per year. Plus, the interest is taxable where credit card rewards are not.
        Of course, it’s far better than paying credit card interest!

  • browneyedgirly

    Smarty Pig offers 1.0% – Higher than anything listed here…

  • YDM MDY

    wow. i didn’t know there were so many options. i’m with a credit union that only offers .100% on a regular savings account. :( will look more into the options presented. thx! :)

  • YDM MDY

    wow. i didn’t know there were so many options. i’m with a credit union that only offers .100% on a regular savings account. :( will look more into the options presented. thx! :)

  • B.Willy

    [BoB] Bank Of BangKok 3.11%. .10% Annual Increase. Join Now Best BANG for Your Kok, I mean Buck.

    • ryger3351

      Where did you see that? Their own website reports a 0.625% Savings Interest Rate.
      Certificate of Deposits, fixed 36 months is offered at 2.250% to non-resident individuals.
      Where did you see something advertised at 3.110% ?

  • B.Willy

    [BoB] Bank Of BangKok 3.11%. .10% Annual Increase. Join Now Best BANG for Your Kok, I mean Buck.

  • MrsGriswold

    This makes me realize that Wells Fargo sucks

  • MrsGriswold

    This makes me realize that Wells Fargo sucks

  • TurkishDelight

    These are AWFUL.

    ING Direct Australia has an introductory interest rate of 4.35%, which drops down to a low 2.75% after the first four months.

    However, if you’ve deposited $200 a month for those first 4 months, they give you a 0.5% boost per annum. Thank you, I’ll take that 3.25%.

    And those are LOW. When I first opened an account with ING AU, I had an introductory interest rate of 8%, which dropped to 6.35%. And to think I was disappointed.

    These interest rates are SHAMEFUL. And you’re advertising them like they’re something to be proud of. How on earth do people in the US ever save money??

    Also, given that the web is GLOBAL, perhaps “NerdWallet’s Top 10 High Yield Savings Accounts in the US for the Digital Age” would have been a more apt title.

    • James

      it appears that bank requires one to be an australian citizen.

      • Jackie Zollner

        yep, i saw that too. I was very interested in opening an account. :(

    • http://unicornuproar.com/ Moscato-Moe

      I have 2% interest on my *checking* account on balances up to 15k.

  • TurkishDelight

    These are AWFUL.

    ING Direct Australia has an introductory interest rate of 4.35%, which drops down to a low 2.75% after the first four months.

    However, if you’ve deposited $200 a month for those first 4 months, they give you a 0.5% boost per annum. Thank you, I’ll take that 3.25%.

    And those are LOW. When I first opened an account with ING AU, I had an introductory interest rate of 8%, which dropped to 6.35%. And to think I was disappointed.

    These interest rates are SHAMEFUL. And you’re advertising them like they’re something to be proud of. How on earth do people in the US ever save money??

    Also, given that the web is GLOBAL, perhaps “NerdWallet’s Top 10 High Yield Savings Accounts in the US for the Digital Age” would have been a more apt title.

  • jerry

    These banks then lend your money to CC holders for 20-30%

  • jerry

    These banks then lend your money to CC holders for 20-30%

  • Dan

    “How on earth do people in the US ever save money??”

    Uh, we don’t. We’re essentially being forced into debt servitude. The only way to earn interest on money is to invest like the big boys do, in stocks, bonds, or real estate. Obviously the average Joe doesn’t have the time or the wherewithal to do this, and even if he did none of it offers the safety of a steady savings plan in a bank account offering a decent interest rate (say between 5 and 10 percent, which was the norm years ago).

    Gone are the days when one could put in an honest day’s work, save a little each paycheck, and not have to worry about emergencies or retirement. “Saving” money in a bank savings account in America today is actually a losing proposition when inflation is factored in.

    • http://unicornuproar.com/ Moscato-Moe

      I use index funds.

    • Tim

      “when inflation is factored in”

      That’s your key section right there. The tiny interest rates on savings accounts aren’t going to grow your money as fast as inflation will devalue it. So, you lose, even if you save. Factor in how the banks have screwed over savers in South American countries and that’s why so many people are trying to shelter themselves in physical gold. They want to be able to hold ‘something’ in their hand that cannot “vanish” at the push of a computer button like many savings accounts did in some South American countries over the decades.

  • Dan

    “How on earth do people in the US ever save money??”

    Uh, we don’t. We’re essentially being forced into debt servitude. The only way to earn interest on money is to invest like the big boys do, in stocks, bonds, or real estate. Obviously the average Joe doesn’t have the time or the wherewithal to do this, and even if he did none of it offers the safety of a steady savings plan in a bank account offering a decent interest rate (say between 5 and 10 percent, which was the norm years ago).

    Gone are the days when one could put in an honest day’s work, save a little each paycheck, and not have to worry about emergencies or retirement. “Saving” money in a bank savings account in America today is actually a losing proposition when inflation is factored in.

  • Anonymous

    Savings account don’t have high yields, because loan (especially mortgage) rates aren’t what they used to be.

    Savings accounts may have paid 5%+ in the “good old days aka 1970” but mortgage rates were also 15%+.

    Savings account, maybe 10,000, that’s $500 a year ($400 more then the stinky modern times).
    Mortgage, probably 200,000, that’s $30,000 a year ($20,000 more then those good old days).

    So that’s…one sec…losing $19,600 (a year) going to back then?

    The reason Americans are in “debt servitude” is because of…not that.

    *Source: I’m a Mortgage Officer who works for a Major Bank*

    • Tim

      But that’s assuming you have a home mortgage loan. Some people recognize the housing prices and the current rebuilding bubble for what it is and understand that housing in many popular cities is currently artificially inflated by banks holding onto the properties.

      The bottom line is, what you save in lower interest rates on mortgage loans, you’re losing on inflated housing prices……….and even more dangerous, when you buy that inflated house, you’re going to lose your butocks when the market price re-corrects again some day. Previous home owners lost before and they are a bit more savvy about what a “good deal” is based on market circumstances. People are onto the bank’s manipulations on home prices. It’s WHY they don’t mind reduced interest.

    • Tim

      But that’s assuming you have a home mortgage loan. Some people recognize the housing prices and the current rebuilding bubble for what it is and understand that housing in many popular cities is currently artificially inflated by banks holding onto the properties.

      The bottom line is, what you save in lower interest rates on mortgage loans, you’re losing on inflated housing prices……….and even more dangerous, when you buy that inflated house, you’re going to lose your butocks when the market price re-corrects again some day. Previous home owners lost before and they are a bit more savvy about what a “good deal” is based on market circumstances. People are onto the bank’s manipulations on home prices. It’s WHY they don’t mind reduced interest.

    • Iminurbase

      Actually you could net 5.5% as recently as 2006 from an ING account, but the true reason was because of the Federal Reserve’s 0 interest rates that has screwed everything.

      The federal reserve’s out of control money printing is what’s causing the booms and busts in the markets.

      -School of Austrian Economics

      I bet you didn’t even know about fractional reserve banking did you?

      Here, take this red pill:

      https://www.youtube.com/watch?v=iFDe5kUUyT0

      You’re welcome

      • Linda Ryans

        I’ll watch…never heard of fractional reserve banking…sounds yuckky. : ) Well, actually I have…never heard of this particular phrase…nothing I didn’t know. thanks.

      • David Ambrose

        Actually, the treasury prints the money.

        • Iminurbase

          Most people would look at your statement and say that you’re dumb, I’m much nicer than most people.

          Open your wallet, look at the very top: “FEDERAL RESERVE NOTE”. Nowadays the treasury just prints up bonds and stamps out Gold and Silver Eagles.

          Executive Order 11110: The issuance of Executive Order 11110 was an effort by Kennedy to transfer power from the Federal Reserve to the United States Department of the Treasury by replacing “Federal Reserve Notes” with “Silver Certificates”.

          Kennedy was trying to rein in the power of the Federal Reserve, and forces opposed to such action might have played at least some part in the assassination.

      • Anonymous

        Your condescension aside, if you worked in banking (or accounting) you’d know 2006 falls in a year bracket that should not be utilized for historic metrics. Given what happened two years later was a buildup of several previous years.

        Additionally, Austrian Economics didn’t forecast the global recession.

        Further, agree or disagree with the current Fed’s decisions the results are unquestionable – recovery is faster then Europe, or anywhere else in the developed world.

    • Linda Ryans

      Mortgage rates weren’t that high in the 70s. I bought a house in the 70s and paid 8%…had savings of a little over 5% and there were special accounts that yielded as high at 7% if you left your money in there long enough. Funny, part is people complained then that 5% wasn’t much! You’re right on the other stuff. I don’t think mortgage rates were tied to savings % rates like they are now, then…believe some moron came up with this excuse later. I’m 65 now…came across this trying to find a high interest savings bank, however, my feelings are getting hurt!!! Thanks for the info. I hear you.

      • Disqus969

        Yes – actually interest rates were double digit. Its an easy fact to look up.

    • travis90

      HSBC paid 5% in 2005 and now .25%. The FED feeds them AKA prints money we are just an annoyance.

  • Anonymous

    Savings account don’t have high yields, because loan (especially mortgage) rates aren’t what they used to be.

    Savings accounts may have paid 5%+ in the “good old days aka 1970” but mortgage rates were also 15%+.

    Savings account, maybe 10,000, that’s $500 a year ($400 more then the stinky modern times).
    Mortgage, probably 200,000, that’s $30,000 a year ($20,000 more then those good old days).

    So that’s…one sec…losing $19,600 (a year) going to back then?

    The reason Americans are in “debt servitude” is because of…not that.

    *Source: I’m a Mortgage Officer who works for a Major Bank*

  • travis90

    They don’t need your money the FED will buy back (print money) bonds from banks. As long as this tapering continues rates will not increase. I was getting 5% in 2005 from HSBC now it’s .25%.

    • bob

      Inflation rates may be a factor when dealing with interest rates, but they’re not the only factor. Again, our banks are being wiser with our money. The fewer loans and credit cards given out, means less income for a bank. The reason online banks have higher interest is simply due to lower overhead costs. This is not an inflation problem. In fact inflation rates are a lot lower than they were 6, even 8 years ago. Please be logical and learn something about what you’re talking about before you complain.

      • travis90

        You have said a lot about nothing.

        Banks have so much cash on hand and interest rates on deposits are so
        low that in some cases, you’d be ahead of the game if you stored your
        money in a mattress.

        Pls go somewhere else .

  • travis90

    They don’t need your money the FED will buy back (print money) bonds from banks. As long as this tapering continues rates will not increase. I was getting 5% in 2005 from HSBC now it’s .25%.

  • travis90

    The FED feeds them AKA prints money we are just an annoyance. HSBC paid 5% in 2005 and now .25%.

    • bob

      After the financial crisis that hit around 2009, banks keep their purse strings tighter than before. This is not some government conspiracy, it’s our banks being wiser with the money we entrust with them. Shouldn’t we be excited about that? As for the money printing comment, inflation is not a bad thing. Its one of many ways we stabilize our economy.

      • travis90

        Inflation is a sign that things are improving. By itself it is not.
        It is suggesting that much of the nation’s distribution system is
        working near full capacity, and the labor force pool shrinking as hiring
        and job openings rise and average hourly earnings follow in kind. Take an economics course and learn.

        • bob

          You restated my point then tell me to go learn about economics? Seriously what is your deal?

          • travis90

            To teach you economics.

          • Kevin

            Bob is right, only one critique, “Its one of many ways we stabilize our economy.” It is one of many ways our economy stabilizes itself :-) you can’t push a string.

  • travis90

    The FED feeds them AKA prints money we are just an annoyance. HSBC paid 5% in 2005 and now .25%.

  • http://divhut.com Keith Park

    These are all great accounts, but how sad that we get excited over a 1% yield. Not that long ago these savings accounts used to give us 5%. Oh well… sign of the times I guess.

  • http://divhut.com Keith Park

    These are all great accounts, but how sad that we get excited over a 1% yield. Not that long ago these savings accounts used to give us 5%. Oh well… sign of the times I guess.

  • Jack Trey

    For everyone complaining that the interest rates on a savings account that is backed by the FDIC is not keeping up with inflation, here’s a little insight. Interest rates on these savings accounts will never reach the level of inflation. Back when they used to pay, say 5%, inflation exceeded that 5%. This is a general rule of finance. In an almost riskless asset with almost absolute liquidity, you will get much less than the rate of inflation every time. If you want to get a higher rate of return, you must either take on more risk that you will not get the return (as seen in stocks, commodities,derivatives), or you must have a less liquid asset (such as a bond) which you cannot exchange for cash at any time. The amount of return on different assets such as a savings account compared to inflation has not changed all that much, everything has just been scaled down.

    Source: Student studying finance at a highly ranked university.

  • Jack Trey

    For everyone complaining that the interest rates on a savings account that is backed by the FDIC is not keeping up with inflation, here’s a little insight. Interest rates on these savings accounts will never reach the level of inflation. Back when they used to pay, say 5%, inflation exceeded that 5%. This is a general rule of finance. In an almost riskless asset with almost absolute liquidity, you will get much less than the rate of inflation every time. If you want to get a higher rate of return, you must either take on more risk that you will not get the return (as seen in stocks, commodities,derivatives), or you must have a less liquid asset (such as a bond) which you cannot exchange for cash at any time. The amount of return on different assets such as a savings account compared to inflation has not changed all that much, everything has just been scaled down.

    Source: Student studying finance at a highly ranked university.

  • Anonymous

    I have recently tried to sign up for a GE Optimizer+ Savings Account, and found the experience maddenly difficult. Most things can be handled through their website, which is perfectly average. I had some complications with my new account (recent change of address) and had to contact customer service. It was a very frustrating experience. Everyone was very polite, but repeatedly stated “they’ll look into it” and never followed up. After a month of repeated calls and faxing the same documents twice (they were lost the first time), I was then informed that actually, they won’t be able to fix this problem, and I essentially need to cancel my account. I found it all very disorganized and frustrating. It’s not often you need to contact customer service, but for an institution that you’re going to trust with a large sum of money, you want it to work well, and this certainly did not.

    They have also recently been spun off and absorbed into Synchrony Bank; to me this indicates the possibility of volatility in the future and further organizational complications in the near term. In my opinion this is not an institution I would plan on trusting with my money.

  • Anonymous

    I have recently tried to sign up for a GE Optimizer+ Savings Account, and found the experience maddenly difficult. Most things can be handled through their website, which is perfectly average. I had some complications with my new account (recent change of address) and had to contact customer service. It was a very frustrating experience. Everyone was very polite, but repeatedly stated “they’ll look into it” and never followed up. After a month of repeated calls and faxing the same documents twice (they were lost the first time), I was then informed that actually, they won’t be able to fix this problem, and I essentially need to cancel my account. I found it all very disorganized and frustrating. It’s not often you need to contact customer service, but for an institution that you’re going to trust with a large sum of money, you want it to work well, and this certainly did not.

    They have also recently been spun off and absorbed into Synchrony Bank; to me this indicates the possibility of volatility in the future and further organizational complications in the near term. In my opinion this is not an institution I would plan on trusting with my money.

  • Seana

    BECU Meber Advantage gives you an APY of 4% on the first $500, after that it’s only .1%, but combined APY makes you much more of a return. It’s free, too. I put my daughter’s into an Early Saver’s account, which gives her a 6.17% on the first $500 and .1% after and she is earnng a combinded APY of 3.47% on $870. Much better than any of the rates I see on here. I have 1 account for me, one for the hubby and one for my kid.

    • thedude

      What good is it if only on the first 500?. Yay. 20 bucks for a year…

      • bob

        It’s called diversifying your money “dude”, something like this is worth it up to the $500. The rest of your money should put in a high interest savings account like Ally until you find another off like that somewhere else. On that $500 you’d earn $4.75 at the highest interest account on this page, $20 is a lot higher than that even if its only on $500. Don’t complain, $20 is high for interest on such a low denomination and is twice as much as the current inflation rate. If you were to do something like this, you set up an auto transfer every month, quarter, etc. to ally/synchrony/etc for the amount of interest earned. This enables you to earn the highest possible interest on your money. Am I the only one who knows you should always diversify? It might be a pain at first to set up, but totally worth it in the long run. There’s even free services out there that would let you manage all those accounts in one place.

    • bob

      Schools Financial Credit Union is doing something similar. Its 7% on the first $500 but then it drops to 0.05% for the rest of the balance. Totally worth it on the first 500, but after that the rest should go into a higher interest account like Ally or Synchrony

      • HAN BAE

        7% from Schools financial credit has strings attached ; 1. The following account criteria must be satisfied as of the ending date of the dividend period in order to qualify for the split rate dividend:

        b. I have a checking account under the same account number as the Banking for Everyone Savings account.

        c. I am actively using BillPay (at least one BillPay payment every 60 calendar days), direct deposit or payroll deduction under the same account number as the Banking for Everyone Savings account.

  • Seana

    BECU Meber Advantage gives you an APY of 4% on the first $500, after that it’s only .1%, but combined APY makes you much more of a return. It’s free, too. I put my daughter’s into an Early Saver’s account, which gives her a 6.17% on the first $500 and .1% after and she is earnng a combinded APY of 3.47% on $870. Much better than any of the rates I see on here. I have 1 account for me, one for the hubby and one for my kid.

  • DJ

    Insight Card Services gives you 5% APY.

    • bob

      Is that a savings account? What would be the strings on that to get that percentage? Is it on the full balance, or just a portion?

      • Joel Hartzell

        minimum 5000 in account

  • DJ

    Insight Card Services gives you 5% APY.

  • Yonnie

    Emigrant Bank’s My Savings Direct has a 1.00% interest rate. Is there any reason that it is not on this list?

    • bob

      Thats not a current rate, the current rate (highest when I called the bank) is 0.5% and requires $100 minimum balance. The Banker on the phone explained to me that you probably opened that account quite a while ago which is why the interest rate was grandfathered in.

  • Yonnie

    Emigrant Bank’s My Savings Direct has a 1.00% interest rate. Is there any reason that it is not on this list?

  • Curious

    CIBC 1.05% for 5,000+. Any thoughts?

  • Curious

    CIBC 1.05% for 5,000+. Any thoughts?

  • Shelbey Baker

    hey so ill be making 19 dollors an hour in a few months, then after that ill be making 26, both incomes are a year long so im hoping to get about 60-80k saved up before shipping off to the peace corps for two or so years, i want to save as much money as possible

    • Robert Bothmer

      you’ll need to make way more than that to save up 60-80k over the course of 2 years

    • bob

      In order for you to even save 60k in the span on 2 years you’d need to be bringing home $1,154 every 2 weeks after taxes. All that money would have to go strait into savings. If you want to look at it monthly rather than paycheck to paycheck, it’d be 2,500. Its great that you want to save money, but don’t set unreasonable expectations for yourself. After tax at 40hrs/wk $19/hr 52wks/yr you’ll earn 29,640 (not including state taxes deductions) which is almost at your 30k/year mark. If you’re being realistic though, take out your living expenses and you’d probably have around 15.6k to actually save. So maybe a more realistic goal would be to save 30-40k before shipping out? If we set large, unrealistic financial goals we’re more likely to give up on them. So be realistic, set small short term goals that are achievable. Its fine to have a long term goal, but try to find the steps you need to take to get there (the short term goals).

  • Shelbey Baker

    hey so ill be making 19 dollors an hour in a few months, then after that ill be making 26, both incomes are a year long so im hoping to get about 60-80k saved up before shipping off to the peace corps for two or so years, i want to save as much money as possible

  • Andrew Fessel

    Smartypig.com gives 1% on anything under 50k and has for a while now. I’ve been using their site for years and they have always offered the best rate that I could find.

  • Andrew Fessel

    Smartypig.com gives 1% on anything under 50k and has for a while now. I’ve been using their site for years and they have always offered the best rate that I could find.

  • Carol Halbert

    WOW!! I can get about 1% (much less, or a little more!), while cost of living is hovering at 3%! I lose 2% a year! Better than burying it in the backyard, but hardly “high interest”. How can they say those words, and not be ashamed to death? Banks have the nerve to offer this ridiculous rate, whilst building and buying new banks with billions of dollars made form our money! And then, even get bailed out if they crash! hopefully, the people will wise up (rise up?) soon and put an end to this travesty. All this blather on this page makes me cringe! Are folks really this crazy?

    • bob

      Banks earn their money from loans and transactions like using your debit card, their bill pay or even direct deposits. When you look at the interest rates on the loans and then factor in the overhead costs, they’re not making a ‘load’ of money as you’ve implied. Right now banks are keeping their purse strings a little tighter, offering less loans thus lower interest rates. Its not really a bad thing though, I want them to be wise with my money.

      • http://batman-news.com monkey sacks

        They did….now they make the majority of their money on fees. Go to a credit union….

      • Terd Ferguson

        Sorry but the 300bps spread between deposits of 1% and interest rates of 4% is historically wide. Banks are making money hand over fist. Just because interest rates are low doesn’t mean banks aren’t making a lot of money.

      • Equineluvr

        You must work for a bank…

  • Carol Halbert

    WOW!! I can get about 1% (much less, or a little more!), while cost of living is hovering at 3%! I lose 2% a year! Better than burying it in the backyard, but hardly “high interest”. How can they say those words, and not be ashamed to death? Banks have the nerve to offer this ridiculous rate, whilst building and buying new banks with billions of dollars made form our money! And then, even get bailed out if they crash! hopefully, the people will wise up (rise up?) soon and put an end to this travesty. All this blather on this page makes me cringe! Are folks really this crazy?

  • Rich

    All of those rates are garbage. If you are making less than 10% on your money, then you are not trying hard enough…. and it’s not that hard, lol. If you actually have a savings account for anything other than a very short term holding account, to accumulate money you’ll be spending in the next few months, then you are just killing your money and you deserve to be broke.

    • Rian

      Rich, what are your suggestions on some higher risk investments?

    • Peter

      @Echo what Rian said. A lot of people starting out do not know the best “”unbiased”” place to start finding the information they need to start investing. Aka: me. Slam idea = easy. Offer alternative = helpful. You decide.

    • Renato Banaj

      What do you recommend Rich?

    • Avante

      Rich, I need help. I want to open up a savings account with no chance of losing funds but also a return on the investment. What do you suggest?

    • Robert Bothmer

      good rates for liquid investments or a cash reserve/emergency fund. Those are the best “guaranteed” rates around. Are you saying you can guarantee a 10% return Mr. Madoff? lolol

    • Tierra Kelly

      So who do you recommend to give us these rates?

  • Rich

    All of those rates are garbage. If you are making less than 10% on your money, then you are not trying hard enough…. and it’s not that hard, lol. If you actually have a savings account for anything other than a very short term holding account, to accumulate money you’ll be spending in the next few months, then you are just killing your money and you deserve to be broke.

  • Harry

    Where is My Savings Direct @ 1.00% no fees and no minimums?

  • Harry

    Where is My Savings Direct @ 1.00% no fees and no minimums?

  • Rian

    Rich, what do you recommend?

    • bob

      He’s referring to high-risk investments. The problem is that there’s a greater chance of you losing your money. The more risk involved, the higher the return. Savings accounts are an easy, liquid, low risk investment which is why the money earned is much lower. What he’s saying has some truth to it, but ‘going broke’ is also a little over-the-top. Savings accounts are great for emergency funds, or a more liquid use of that sort. The interest is simply to maintain your money’s value. As inflation goes up, the value of your money declines. The rest of your money (retirement, kid’s college, future business, boat, house, car, etc.) should be invested into less liquid or higher risk acconts that yield greater income. If you really want some advice in that area from rich, then just click “reply” under his comment

      • Rian

        Thanks, Bob.

      • Equineluvr

        You are “forgetting” that interest rates were MUCH HIGHER several years ago…

        • bob

          Interest rates were never 10% nor were they anywhere close. Just because almost a decade ago we used to get interest rates that were 3% – 5.5% doesn’t mean we can get it today. What good does that do in helping someone understand this? What he’s referring to is higher risk investment in the stock market or Real estate. In order to be successful in those areas, you really need to understand the business of find someone who does to help you.

        • bob

          Interest rates were never 10% nor were they anywhere close. Just because almost a decade ago we used to get interest rates that were 3% – 5.5% doesn’t mean we can get it today. What good does that do in helping someone understand this? What he’s referring to is higher risk investment in the stock market or Real estate. In order to be successful in those areas, you really need to understand the business of find someone who does to help you.

  • Rian

    Rich, what do you recommend?

  • Fereshte Arjmand

    Is there a specific reason that there is nothing about UFB direct here? Their rate seems higher than all of the options listed here, and I couldn’t find any super bad point in their terms and conditions part.

    • Robert Bothmer

      you have to have a balance greater than $25k to get their 1.25% rate

    • Robert Bothmer

      GE gives you 1.05% on any account balance.

      1The UFB Direct Savings account is a tiered, variable rate account; account balances greater than $24,999.99 will earn the variable ongoing APY for our highest tier on the full account balance, which may change anytime. We will use the daily balance method to calculate the interest on your account. Interest will begin to accrue on non-cash items (for example, checks) no later than the business day we receive credit for non-cash items deposited. Interest for savings accounts is compounded daily and credited to your account on your monthly statement cycle date.

    • BLUE

      I mean if you have $25,000 other wise most these make more sense, also they flip flop rates so much which in my mind makes someone like Ally make way more sense long term.

      Maybe I save differently but my savings accounts are always long term so I like stable rates. I don’t want to check my account every week to see my rate is down a % and now I have to move my money over to my Ally or Discover savings.

  • Fereshte Arjmand

    Is there a specific reason that there is nothing about UFB direct here? Their rate seems higher than all of the options listed here, and I couldn’t find any super bad point in their terms and conditions part.

  • Kapparama

    For local Boston area folks, Metro Credit Union has a 1.15% savings special running now. It’s tiered at .15%, .20% and then 1.15% for balances over $25,000.

  • Kapparama

    For local Boston area folks, Metro Credit Union has a 1.15% savings special running now. It’s tiered at .15%, .20% and then 1.15% for balances over $25,000.

  • Jo Rames

    GE Capital Bank is by the far the best and beats every bank on this list. Has an rate of 1.05%. No minimum deposit, no transaction fees. For some of these banks on the list, you get 1% IF you deposit $25,000.. I’ve been using them for 3 months.

  • Jo Rames

    GE Capital Bank is by the far the best and beats every bank on this list. Has an rate of 1.05%. No minimum deposit, no transaction fees. For some of these banks on the list, you get 1% IF you deposit $25,000.. I’ve been using them for 3 months.

  • Cathy

    why isn’t Barclay’s near the top???????? its 1% !!

  • Cathy

    why isn’t Barclay’s near the top???????? its 1% !!

  • Danielle

    What about Barclays? Barclays Dream Account is 1.05%!

  • Danielle

    What about Barclays? Barclays Dream Account is 1.05%!

  • Emily Jensen

    I use Barclay’s I just got an email from them today that the regular savings account is now up to 1% and the Dream Account is up to 1.05%. No minimum deposit on either account required.

  • Emily Jensen

    I use Barclay’s I just got an email from them today that the regular savings account is now up to 1% and the Dream Account is up to 1.05%. No minimum deposit on either account required.

  • stacerz02

    Smarty Pig offers 1.00% APY! I use Smarty Pig for my savings and love it!

  • stacerz02

    Smarty Pig offers 1.00% APY! I use Smarty Pig for my savings and love it!

  • Jeremy

    Pair GE Capital Online Savings (1.05%) with Mango Money savings (6.0% APY up to $5,000) for awesome APY savings interest on the market currently.

    • Toni Morris

      Yes I love it… So happy I did this…

      • Margarette

        Plzz explain Toni Morris, I am a single Mom of a 6 year old and will have my second n last baby in a month, I have some money I’d like to save so that we can be stress free for a while at least, I really need all the tips and tricks pleaseee!!! My E-mail is MarggieRA@yahoo.com

    • Calvin

      Why did you pair GE along with Mango?

    • bob

      Mango money has some limits though, not against them or anything just others should be aware. In order to earn the 6% you need to direct deposit into the account once a month & hold a mongo money card which is a $3 a month fee. Otherwise the interest rate is 2%. Technically speaking though, to break even (no interest) you would need $1800 in the account at 2% and $600 at 6%. There’s also a limit to the amount of cash you can have earning this figure which is $5,000. doing the math, you’re really only earning 5.2% (instead of 6%) or 1.28% (instead of 2%) if you have exactly $5,000 in the account. Basically you need to earn $36 a year in interest to pay for the card to have the savings account, then anything above and beyond is truly earning the percentage advertised.

  • Jeremy

    Pair GE Capital Online Savings (1.05%) with Mango Money savings (6.0% APY up to $5,000) for awesome APY savings interest on the market currently.

  • Stephanie Zimmerman

    I want to save to move out, put whatever I can afford in it here and there like $30 or $50 what will be the best one out of all of these?

    • ReligionIsPoison

      I have an acct with Ally and I think it’s great. I don’t have any experience with the other ones here.

    • Lisa

      Your local credit union may be the best place to help you achieve a higher yield on a savings account with small periodic deposits. If you can’t locate one, I would recommend http://www.ally.com since they have no minimum deposit requirement and currently pay 1%.

    • properthwacking

      The interest on $30 to $50 is pennies per month and taxable, so whichever account you use, you must really be sure to ELIMINATE ANY fees. Having a bank account saves you a check cashing fee from your employer, and that’s money back in your pocket each week that many Americans voluntarily forfeit on pay day. Some banks give a bonus for direct deposit but the catch is to be sure you’re reaching minimum requirements. Also, avoid banks that require more than $5 deposit on hold, including such things as “$100 minimum balances” to waive a service fee. That money isn’t touchable until you close the account, and the fee you’ll get for dipping below said balance is going to erode your savings faster than you can ever provide interest.

      For when you get a reliable job, I like using either Santander Bank which gives $10 a month bonus for qualified direct deposits and $10 a month for using at least 2 bill pays. They will also mail free online checks on your behalf which saves .49 each time you must pay the monthly electric, or quarterly water bill.

      • LawMom3

        Yes, by all means, always get an account with automatic billpay. I save several dollars a month on postage alone. My credit union checking account also has a 2% cashback on purchases made with my debit/credit card, up to $10 a month.

    • LawMom3

      I’ve been setting aside small amounts into a savings account at Barclays. You can link it to your accounts at other institutions and have it set up for regular deposits from another institution or an employer, or manually set up a transfer any time you have an extra 10 or 20 bucks to put aside. It pays 1% annual interest compounded daily and credited monthly. No minimum balance and no fees. I had only $20 in it for about two years after setting it up and got 2 cents a month like clockwork on it. Then it finally dawned on me that it was the perfect “sock it away and forget about it” account so it’s where I stash random amounts to be drawn on for future vacations or sports tickets.

  • Stephanie Zimmerman

    I want to save to move out, put whatever I can afford in it here and there like $30 or $50 what will be the best one out of all of these?

  • Samantha

    Which bank would give me the highest return on $50,000? and how much should I see at the end of the year?

    • The highest return would come from the bank with the highest interest rate and the most frequent compounding of interest (ally has daily compounding, for example, though the difference is 20 cents with current rates and principle).

      You would end up with (APR/12+1)*(Amount you put in) each month if it compounds monthly (most do). With the 1% max interest rate above, you’d get an extra $502.30 at the end of the year.

      If you can afford to not use that money for a few years (but may need some in case of emergencies) you can set up stepwise CDs in multi-year increments (i.e. put the money in a high yield savings and start transferring money into 3- or 5-year CDs, which have 1.5-2% locked in interest rate, every few months so that if you run into money problems down the road, you will get money out every month.

    • Drew

      The 1% yield accounts (Barclays or Ally) will yield $500 on $50,000.

    • christopher

      Cit Bank and you will earn about 500$ per year on 50,000 (1% is lower than the national inflation rate so in essence you will lose over the year) the value of your 50k in a year will be lower than the 500 you added to it.

  • Samantha

    Which bank would give me the highest return on $50,000? and how much should I see at the end of the year?

  • mjoecups

    If your saving your money for the long term, savings account are stupid. Buy CD’s if you are conservative or invest in equities, which have historically had a much better return…

    • BLUE

      Agreed, 25k+ is a lot for money that you need access to quickly maybe right now I’d say okay some money in a savings account is okay since CDs are horrible but in a normal economy with better rates I’d go with CD for conservative savings like you said and honestly putting your money in the index makes the most sense for long term growth pretty safe growth. Obviously you don’t want it all in one spot though.

  • mjoecups

    If your saving your money for the long term, savings account are stupid. Buy CD’s if you are conservative or invest in equities, which have historically had a much better return…

  • Hank

    Best way to save money is to invest in the stock market. Apple is up over 200,000 percent since inception. It’s up 41% in the past year. Forget savings accounts. Banks are a fraud.

    • Rebecca Hall

      I am very new to investing. How do you buy stock from apple?? please help! My email is Missrmhall@gmail.com

      • Jason Ramage

        First, be aware that stocks also go down. If you’ll need the money in the next 2-3 years, put it in savings. If you can keep it invested for 5+ years, stocks are a good idea.
        To invest, you need a brokerage account. A great one for starting out is Loyal3 because there are no fees or commissions to buy and sell. They only offer a few stocks, but Apple is on their list.

        • Rebecca Hall

          Wow…I got a brokerage account through E trade.. How good are they?? Also…is it best to buy market? or close of market??

          • Rebecca Hall

            And what are some good savings accounts right now. I have been looking into CDs and Money Markets but interested rates are rather low right now… unless I’m not looking in the right places….

          • RamageKy

            Before you do anything, please do some reading and learn a few basics. ETrade should have some good learning tools, or you can try a place like Fool.com or Investopedia. Stocks are investments first, so you’ll want to research like you would a home or car purchase. It doesn’t guarantee against losses, but definitely puts the odds in your favor.

      • beth

        Go to Vanguard. Start reading, and contact them. It’s the best way for a newbie to get an idea of how to invest.

      • Soni

        Get a Sharebuilder investing account with capital one and link to a savings or checking like 360. I made a small profit with twitter shares when they went public. Not complicated.

      • Allan

        If you have a smart phone, which I’m guessing you do. Download Robinhood and you can start trading there. I’ve been trading there since October and I love how easy it is, and how I’m not paying any brokerage fees at all.

    • Tony Paulinsky

      enron?…where thousands lost everything they own

    • Mike Fisher

      Apple is done. If you’re smart, you’ll sell it all.

      Even Steve Wozniak, Apple’s #2, sold his…

      • Allan

        That was good advice because now I have been buying Apple at an average of $114.66 per share. Now that it’s price is going back up I’m making a pretty good return on my investment at the moment.

      • Dan Fundarz

        lol, easy to say when the entire stock market is declining. You were probably praising stocks when its 15% higher, the exact opposite of how investing should be done.

    • Josh Igbinijesu

      Investing in stock is hardly a way to ‘save’ money. Due to the high volatility and the over-regulated and qualification-required services it is the WORST way to save.
      Also, investing in something like Apple takes a great deal of money. Not just anyone can buy any stock they like. You need to be an accredited investor to buy shares in the companies you actually want to. The reason for it goes back to a time when poor people would try to buy stocks and easily be scammed out of their money.
      Investing is only a good idea for people who understand it and are seeking to make money, not save. This is the first time I’ve seen it described that way. ‘Saving is for losers’. And that’s because it doesn’t do anything but help you loose money… just in a slower and less obvious way. Why? Because it’s constantly depreciating due to inflation, the economy, etc.

      • Jason Ramage

        We do need to be careful saying anything is “best” in life. Everything has its tradeoffs. For emergency fund and near-term savings targets (i.e. less than five years), the money should be making a piddly 1% in a savings account like the ones listed in this article. Other savings that won’t be needed on short notice – and can afford to ride through market price fluctuations – can be considered for investing in stocks. But it doesn’t take that much money: Apple is trading around $125-130 per share. Commissions are less than $10 at most brokers. You can trade for even less (or free) with places like Sharebuilder, Loyal3, Motif, and Robinhood.

      • Jason Ramage

        We do need to be careful saying anything is “best” in life. Everything has its tradeoffs. For emergency fund and near-term savings targets (i.e. less than five years), the money should be making a piddly 1% in a savings account like the ones listed in this article. Other savings that won’t be needed on short notice – and can afford to ride through market price fluctuations – can be considered for investing in stocks. But it doesn’t take that much money: Apple is trading around $125-130 per share. Commissions are less than $10 at most brokers. You can trade for even less (or free) with places like Sharebuilder, Loyal3, Motif, and Robinhood.

      • d-man1

        Just for the record, while I would agree that on the surface investing and saving are slightly different philosophically, most of the same risks in investing are there in “savings” – inflation risk (savings accts paying 1% are losing purchasing power year-over-year), failure risk (sure, there’s FDIC, but how long does it take to get your money?), etc. And, most of the statements made about investing are wrong – you do not have to be a “qualified” investor to purchase stocks at retail, if you really wanted to anyone could open a brokerage account with an online broker charging as low as $4.95 per trade (and most have free trade initiatives for new accounts), and since Apple is trading at $128.65 as of Friday at market close I can buy one share of Apple for $133.60 ($128.65 + $4.95 brokerage commission) – of course, buying one share means that the price of one share needs to go up $4.95 (x2 – there’s a commission on selling it also) before I can sell it at a profit, so Apple is not likely a good candidate for a budget investor. Nevertheless, the concept is the same, and for instance I could buy 10 shares of Ford (F, $14.78 at Friday’s close) for just over $150, and the price would only have to rise to $15.77 to cover the commissions). And, an additional benefit of either Apple or Ford is that they pay quarterly dividends all the time you’re holding them (currently yielding 1.6% and 3.9% respectively), covering most of or much more than the erosion of value due to inflation.

        In summary, while retail investing isn’t a “risk-free way to save”, neither is a savings account, and the excessively ascerbic statements made about investing are mostly to totally wrong. Not that one should choose to start investing blindly, that’s obviously a bad idea, but then again so is handing my money over to a bank without understanding _all_ of the risks and potential costs (which most “savers” do because the banks make it easy for them – but if the banks make it easy, why would they if it wasn’t in the banks best – read “profit” – interest). Just saying…

        • RamageKy

          There are different kinds of risk. The only measurable risk to an FDIC-insured savings account is inflation. The benefit you receive is liquidity: put in $1000 and you get take it out anytime. Stocks can beat inflation, but they come with a very real risk of loss: put in $1000 and you might get stuck with only $500 or doubling to $2000. Nothing is a silver bullet. You need to decide what your goal is, then go about finding a tool that best meets your needs.

          If you’re saving money for a car or home purchase, liquidity is far more valuable than beating inflation. That’s when you use a savings account. If your aim is to build wealth over time with savings that are not needed for emergencies or near term purchases, stocks become a lot more appropriate.

          Your math on the Apple vs. Ford purchase is fine, but keep in mind it’s only the percentage change that matters. When you buy one share of a $1000 stock or 100 shares a $10 stock, your commission and total purchase price will be the same. Thus, the percentage increase required to break even after commissions is also the same, and in the end a stock tends to have relatively the same percentage movements regardless of the total dollar value. Berkshire is a good example where you see the BRK.A shares and BRK.B shares trade pretty much in line based on percentage movements regardless of the huge gap in their share prices.

        • RamageKy

          There are different kinds of risk. The only measurable risk to an FDIC-insured savings account is inflation. The benefit you receive is liquidity: put in $1000 and you get take it out anytime. Stocks can beat inflation, but they come with a very real risk of loss: put in $1000 and you might get stuck with only $500 or doubling to $2000. Nothing is a silver bullet. You need to decide what your goal is, then go about finding a tool that best meets your needs.

          If you’re saving money for a car or home purchase, liquidity is far more valuable than beating inflation. That’s when you use a savings account. If your aim is to build wealth over time with savings that are not needed for emergencies or near term purchases, stocks become a lot more appropriate.

          Your math on the Apple vs. Ford purchase is fine, but keep in mind it’s only the percentage change that matters. When you buy one share of a $1000 stock or 100 shares a $10 stock, your commission and total purchase price will be the same. Thus, the percentage increase required to break even after commissions is also the same, and in the end a stock tends to have relatively the same percentage movements regardless of the total dollar value. Berkshire is a good example where you see the BRK.A shares and BRK.B shares trade pretty much in line based on percentage movements regardless of the huge gap in their share prices.

        • Josh Igbinijesu

          Certain stocks can only be legally acquired by being an accredited investor. Perhaps not all, but I know this to be a fact because I know the history of it, why it’s there and where it is in the law (rule 501 of Regulation D under the Securities Act of 1933). I guess you can purchase them through an online brokerage but that doesn’t necessarily mean it’s legal.
          Also, I don’t consider investing and saving even remotely similar because saving doesn’t really do anything to your money. The amount of Annual Percentage Yield one can receive from a savings account is worthless when you factor in costs such as savings tax and, like you mentioned, inflation. Keeping stacks of cash in other places doesn’t protect it from loosing its value either. In truth, their is no such thing as ‘saving’ money because the value or amount is always lost in some uncontrollable way.

          • arny1212

            That definition applies to interests in alternative investments like hedge funds and private equity funds, not shares of stock in publicly-traded companies. Buying shares of publicly-traded companies through an online brokerage is perfectly legal. You sound like a finance student who needs to hit the books a little harder…

          • Josh Igbinijesu

            I will respond to this only because I’m tired of seeing this in my inbox. ‘Under the Securities Act of 1933, a company that offers or sells its securities (that includes stocks and bonds of public-corps)…. may sell it to what are known as credited investors’. There’s nothing that remotely states it applies to ‘alternative investments’. Do you not know anything about investing? I suggest you actually hit the books before you make comments about people needing to hit it harder.

          • Josh Igbinijesu

            I will respond to this only because I’m tired of seeing this in my inbox. ‘Under the Securities Act of 1933, a company that offers or sells its securities (that includes stocks and bonds of public-corps)…. may sell it to what are known as credited investors’. There’s nothing that remotely states it applies to ‘alternative investments’. Do you not know anything about investing? I suggest you actually hit the books before you make comments about people needing to hit it harder.

          • Josh Igbinijesu

            I will respond to this because I’m tired of seeing this in my inbox. ‘Under the Securities Act of 1933, a company that offers or sells its securities (the stocks and bonds of public-corps)…may sell its securities to what are known as “accredited investors”.’ There’s nothing here to even remotely suggest it applies to ‘alternative investments’. Do you not know anything about investing? I suggest you actually hit the books before you complain about others hitting it harder.

          • Josh Igbinijesu

            I will respond to this because I’m tired of seeing this in my inbox. ‘Under the Securities Act of 1933, a company that offers or sells its securities (the stocks and bonds of public-corps)…may sell its securities to what are known as “accredited investors”.’ There’s nothing here to even remotely suggest it applies to ‘alternative investments’. Do you not know anything about investing? I suggest you actually hit the books before you complain about others hitting it harder.

          • arny1212

            That definition applies to interests in alternative investments like hedge funds and private equity funds, not shares of stock in publicly-traded companies. Buying shares of publicly-traded companies through an online brokerage is perfectly legal. You sound like a finance student who needs to hit the books a little harder…

        • Josh Igbinijesu

          Certain stocks can only be legally acquired by being an accredited investor. Perhaps not all, but I know this to be a fact because I know the history of it, why it’s there and where it is in the law (rule 501 of Regulation D under the Securities Act of 1933). I guess you can purchase them through an online brokerage but that doesn’t necessarily mean it’s legal.
          Also, I don’t consider investing and saving even remotely similar because saving doesn’t really do anything to your money. The amount of Annual Percentage Yield one can receive from a savings account is worthless when you factor in costs such as savings tax and, like you mentioned, inflation. Keeping stacks of cash in other places doesn’t protect it from loosing its value either. In truth, their is no such thing as ‘saving’ money because the value or amount is always lost in some uncontrollable way.

        • RE

          Great reply. A lot of people are so scared of the stock market. It’s a long term strategy. I’m glad you brought up dividends, as there are blue chip stocks that pay a 5% dividend. AT&T pays 5.57% dividend. This puts the 1% savings account to shame.

          I’ve found a lot of success in some of the good dividend stocks like AT&T as well as some good utilities like Portland General Electric. There is volatility, and I wouldn’t suggest it for short term (less than 2 – 4 years), but definitely better than leaving long term cash in a savings account at 1%

      • d-man1

        Just for the record, while I would agree that on the surface investing and saving are slightly different philosophically, most of the same risks in investing are there in “savings” – inflation risk (savings accts paying 1% are losing purchasing power year-over-year), failure risk (sure, there’s FDIC, but how long does it take to get your money?), etc. And, most of the statements made about investing are wrong – you do not have to be a “qualified” investor to purchase stocks at retail, if you really wanted to anyone could open a brokerage account with an online broker charging as low as $4.95 per trade (and most have free trade initiatives for new accounts), and since Apple is trading at $128.65 as of Friday at market close I can buy one share of Apple for $133.60 ($128.65 + $4.95 brokerage commission) – of course, buying one share means that the price of one share needs to go up $4.95 (x2 – there’s a commission on selling it also) before I can sell it at a profit, so Apple is not likely a good candidate for a budget investor. Nevertheless, the concept is the same, and for instance I could buy 10 shares of Ford (F, $14.78 at Friday’s close) for just over $150, and the price would only have to rise to $15.77 to cover the commissions). And, an additional benefit of either Apple or Ford is that they pay quarterly dividends all the time you’re holding them (currently yielding 1.6% and 3.9% respectively), covering most of or much more than the erosion of value due to inflation.

        In summary, while retail investing isn’t a “risk-free way to save”, neither is a savings account, and the excessively ascerbic statements made about investing are mostly to totally wrong. Not that one should choose to start investing blindly, that’s obviously a bad idea, but then again so is handing my money over to a bank without understanding _all_ of the risks and potential costs (which most “savers” do because the banks make it easy for them – but if the banks make it easy, why would they if it wasn’t in the banks best – read “profit” – interest). Just saying…

    • bill

      how do i go about investing in the stock market

    • pcantidote

      I took your advice Hank and invested on Thursday (August 20). I am down 6% already. You are amazing.

      • Dan Fundarz

        Stocks dont always go up. Buy dividend paying stocks that have a long track record, average in when the market goes down and never buy at one time. Stocks like VZ, MMM, GE, DOW, KHC, PG …. those are stocks that will be around a very long time and continue paying dividends even if the market gets bad.

  • Hank

    Best way to save money is to invest in the stock market. Apple is up over 200,000 percent since inception. It’s up 41% in the past year. Forget savings accounts. Banks are a fraud.

  • yl

    can anyone explain how to pair ge capital bank savings and mango savings?

    • Toni Morris

      I set up a external account on ge capital. You can connect any accounts through mango but u do get an actual card with mango so it is easier to get money from there. You can withdrawn from mango and add to ge capital through ge capital online.

      • Josh Igbinijesu

        So I take it that mango savings is a type of savings account. Do you know how to open with, let’s say, Barclay’s, Guaranty Trust Bank, Chase or Union Bank of Switzerland. And what’s required to open one?

  • yl

    can anyone explain how to pair ge capital bank savings and mango savings?

  • Mark

    You forgot about GE Capital 1.05% APY and APR https://www.gecapitalbank.com/savings-products/online-savings.html

  • Mark

    You forgot about GE Capital 1.05% APY and APR https://www.gecapitalbank.com/savings-products/online-savings.html

  • cyndrome

    Thanks for sharing this.

  • cyndrome

    Thanks for sharing this.

  • grwse

    gay

    • Josh Igbinijesu

      I know u r.

    • Anonymous

      no, you’re gay.

  • grwse

    gay

  • Josh Igbinijesu

    I just checked CIT Bank and it requires a $100 initial deposit. Also, the actual APY value is 0.95% for Tier 1, which, basically, is the one you want to get, ‘High Yield Savings’ (savings account) requiring a daily minimum balance of nothing.
    The only other is Tier 2 with a 1% APY, but requiring a $25,000 daily deposit.

  • Josh Igbinijesu

    I just checked CIT Bank and it requires a $100 initial deposit. Also, the actual APY value is 0.95% for Tier 1, which, basically, is the one you want to get, ‘High Yield Savings’ (savings account) requiring a daily minimum balance of nothing.
    The only other is Tier 2 with a 1% APY, but requiring a $25,000 daily deposit.

  • Josh Igbinijesu

    I should also have said what @disqus_957WeQIRIM:disqus did. I hadn’t checked until now.

  • Josh Igbinijesu

    I should also have said what @disqus_957WeQIRIM:disqus did. I hadn’t checked until now.

  • miguel

    The best way to get fix income is trading credit vertical spread on SPY. about 2-5 % each month if you want to know more about it let me know. I started trading credit spread since I was studying my finance degree just 2 years ago and so far that is my return every month. It could be more return but I try to mitigate risk.

    • I__AM__GOD

      Better idea. SMD.

    • beth

      miguel – I’m very interested. I’ve invested in SPY and traded it. How do you trade credit vertical spread?

      • Miguel Calvo

        Good morning Beth,

        I am glad you are interested on trading credit vertical spread. It is a really nice way to get real fixed income. It will be my pleaseure showing you and sharing some of my trades. My email address is miketrader1710@gmail.com. You can contact me anytime.

        Best regards,

      • Miguel Calvo

        Good morning Beth,

        I am glad you are interested on trading credit vertical spread. It is a really nice way to get real fixed income. It will be my pleaseure showing you and sharing some of my trades. My email address is miketrader1710@gmail.com. You can contact me anytime.

        Best regards,

    • http://batman-news.com cathie romero

      I’d like to know more.

    • Lanh Ho

      Same here: share your contact Miguel! :)

  • miguel

    The best way to get fix income is trading credit vertical spread on SPY. about 2-5 % each month if you want to know more about it let me know. I started trading credit spread since I was studying my finance degree just 2 years ago and so far that is my return every month. It could be more return but I try to mitigate risk.

  • Colt

    Just a heads up about the Discover online savings – it has a mobile check deposit limit of only $500/day. So even though I maintain a steady balance of just over $150,000, I can’t deposit checks over $500. Ridiculous. I opened mine a few months ago for the interest rate, and have been pleased with it overall apart from that limit, but assumed it was just a new account limit that would be raised with time. Finally today, I decided to call someone about it, and the Discover rep told me that that’s a hard limit for all of their online savings accounts, regardless of balance or time its been opened. (As an aside, I was informed that the limit for checking accounts is 2,500 and encouraged to open one of those. Apart from the fact that making the deposit, waiting for it to clear, then transferring the funds to my savings account eliminates the convenience of mobile deposit, what kind of sense does it make to have higher deposit limits on checking than savings??). Just got off the phone with ally and their mobile deposit limit is $50,000 per day and/or $250,000 per month, plus a better interest rate. I’ll probably look into a few more of the accounts on this page and move to either ally or one of them in the next few days. Sorry, Discover!

    • Erica

      Thanks for sharing! I’m looking to open an account that is a higher yield than my everyday bank. Not that I have anywhere near that kind of money, but it’s good to know for those few checks over $500 that I do get.

  • Colt

    Just a heads up about the Discover online savings – it has a mobile check deposit limit of only $500/day. So even though I maintain a steady balance of just over $150,000, I can’t deposit checks over $500. Ridiculous. I opened mine a few months ago for the interest rate, and have been pleased with it overall apart from that limit, but assumed it was just a new account limit that would be raised with time. Finally today, I decided to call someone about it, and the Discover rep told me that that’s a hard limit for all of their online savings accounts, regardless of balance or time its been opened. (As an aside, I was informed that the limit for checking accounts is 2,500 and encouraged to open one of those. Apart from the fact that making the deposit, waiting for it to clear, then transferring the funds to my savings account eliminates the convenience of mobile deposit, what kind of sense does it make to have higher deposit limits on checking than savings??). Just got off the phone with ally and their mobile deposit limit is $50,000 per day and/or $250,000 per month, plus a better interest rate. I’ll probably look into a few more of the accounts on this page and move to either ally or one of them in the next few days. Sorry, Discover!

  • james

    GE owns Synchrony Bank.

    • celsma

      thx, i spose that rules Synchrony out too.

      • james

        I haven’t had any issues with Synchrony. Enjoying the 1.05% in a savings account.

        • Paul Joseph Goodwin

          Never thought I would hear enjoying 1.05% interest rate HA HA!

      • james

        I haven’t had any issues with Synchrony. Enjoying the 1.05% in a savings account.

  • james

    GE owns Synchrony Bank.

  • celsma

    been there, got the t-shirt… they’ve taken security to an absurd level, i do not recommend GE. Their website is maddening with certificate errors, random logoffs, 4 (no joke) levels of authentication, and I could have lived with all of that, but when you spend a bunch of time applying and configuring your accounts only to find out that there was an error that it didn’t bother to inform you about… well… that was enough for me. Worth losing .25% just to have a simple sub-account function like C1 360 has.

  • celsma

    been there, got the t-shirt… they’ve taken security to an absurd level, i do not recommend GE. Their website is maddening with certificate errors, random logoffs, 4 (no joke) levels of authentication, and I could have lived with all of that, but when you spend a bunch of time applying and configuring your accounts only to find out that there was an error that it didn’t bother to inform you about… well… that was enough for me. Worth losing .25% just to have a simple sub-account function like C1 360 has.

  • ovidia

    I’m looking for a high interest account that will give me a financial incentive for opening a new account with 150K.

    • Jason Ramage

      Check into brokerage accounts. They usually have some sort of incentive for new deposits and you can invest the money into a interest-bearing fund that would earn more than what you’ll get in an online savings account. These probably won’t be FDIC insured, but there are very stable funds paying in the 1-2% range.

      • NJ_3929

        What interest-bearing funds are you referring to? Most short-term options at brokerages aren’t getting more than 0.1%, many less.

        Bond funds will gethigher interest, but with more risk. And more so with stocks.

      • NJ_3929

        What interest-bearing funds are you referring to? Most short-term options at brokerages aren’t getting more than 0.1%, many less.

        Bond funds will gethigher interest, but with more risk. And more so with stocks.

      • tironci

        what kind of sense does that make? Let’s see, I can open a ge capital account (even 8 months ago) that pays me slightly more than 1% and it’s FDIC insured (i.e., virtually no risk) or I can get 1%-2% in a very stable fund non FDIC insured? I will pick the savings account, thanks douche bag.

  • ovidia

    I’m looking for a high interest account that will give me a financial incentive for opening a new account with 150K.

  • ovidia

    If I can’t decide how to invest yet, would I be smarter to put the money in CD’s and just pay the penalty if I pull it out early to investment differently? I’m nervous to invest myself with Vanguard, but have the potential to earn 6mos-2yrs while deciding what to do . . .

  • ovidia

    If I can’t decide how to invest yet, would I be smarter to put the money in CD’s and just pay the penalty if I pull it out early to investment differently? I’m nervous to invest myself with Vanguard, but have the potential to earn 6mos-2yrs while deciding what to do . . .

  • http://google.com/+AshleyMorrisLosAngeles Ashley Morris

    Capital One has been awesome for me.

    • Denise Perry

      I used to love capital one when it was ingdirect but the interest rate kept going down.

      • abe lim

        Blame the Federal Reserve, and Progressive Liberal policies for that one.

        • Joe smith

          Well thankfully there are conservative experts like you with your GED in economics to set us straight.

    • http://batman-news.com cathie romero

      In what way??

      • Paul Joseph Goodwin

        She works there

  • http://google.com/+AshleyMorrisLosAngeles Ashley Morris

    Capital One has been awesome for me.

  • dbm

    You need to update this information Capital One is no longer offering the .75% – looking for someone better at this time. Will check out the others on this list.

    • Catfish

      Just visited the site, apparently still offering the .75%.

  • dbm

    You need to update this information Capital One is no longer offering the .75% – looking for someone better at this time. Will check out the others on this list.

  • hasopinions

    The highest by far, and no promo, is My Savings Direct (Emigrant Bank.) 1.25%.

    • http://batman-news.com cathie romero

      Just went down to 1.10. Let’s hope they raise it back up.

  • BC

    My Savings Direct is actually 1.10% right now. I was thinking about opening a savings account, but now im a little skeptical

    • MikeinDenver

      Yup, I just went in this morning to find it had dropped. Time to start shopping again.

    • http://batman-news.com cathie romero

      They must have just lowered it. They were just at 1.25%.

  • abe lim

    The pussification of America, and rise of the police state.

  • Paul Joseph Goodwin

    Funny how much more valuable their money is than mine!

  • Billie Bost

    Consumers Credit Union Checking Rate

    Current Rate: 5.09% APY (last checked on Dec 28, 2015)

    Minimum Deposit: $1

    January 1, 2016, 11:33 am ET

    View on Consumers Credit Union’s website »

  • Catfish

    I’ve been back and forth with the Discover idea. I’m surprised that with the advertised rate, I haven’t heard more reviews about it. Any thoughts from anyone here?

    • Brendan Perez

      I’ve had them for about a year or so, along with Checking. The two bank accounts and my credit card can be managed by one login.

      Like most/all online banks, they always take 5 business days to make my transfers available, but do pay interest on it from the day I initiate the transfer. To get away from that, I changed my direct deposit to put most of my paycheck in the savings account.

      I then do one or two transfers per month from savings to checking for bill pay (each one gets me $0.10 reward from checking). I find that to be worth the slightly lower 0.95% APY on savings.

  • zebman

    This article is nice and fuzzy and feel-good in style, but kind of worthless. Why? Look at the small number of banks that were reviewed. Look at the lack of details provided about each account. No real useful information provided that I could not have gotten myself in 60 seconds. This site markets itself as a guide-post to help with financial choices, but reviews 1/100th of the market place.

    • http://www.nerdwallet.com/ NerdWallet

      Hi there, thanks for your feedback. As you point out, the banking marketplace these days is huge. We aim to be as comprehensive in our articles as possible, and are constantly updating them to reflect the accounts and products we feel are best for consumers. But with that being said, if we’ve overlooked an account that you feel should be included, please let us know!

  • John Stevenson

    Thoughts on Schwab Bank?

    • http://www.nerdwallet.com/ NerdWallet

      Hi John, thanks so much for reaching out to NerdWallet! We really like Schwab’s checking accounts, especially for international travelers. However, their savings accounts currently don’t offer a high enough APY to make it into an article like this. As of 1/26/16, you’ll earn a much return with one of the accounts discussed above.

      Feel free to reach out to support@nerdwallet.com if you have further questions!

      • http://planesandstays.com Lubo

        I use Schwab Checking and it’s really great for ATM withdrawals world-wide for free, as well as 0.06% APY and free checks. But I agree, their checking is lacking.

  • Stephen “Steve” Sponsler

    Redneck Bank?

  • RonJohn

    CapitalOne 360 has $0 minimum 12 month CDs that earn 1.3%. Open them in a staggered manner (I’m doing it at two month intervals) so if you do need more than what’s in your savings account you’re less likely have to pay the 3 month interest penalty.

  • Edward Perez

    as of last week (1/18), everbank (online bank from fla.) was offering a savings accr w/ 1.6% for first six months. then it drops to 0.61%.
    i opened an acct and will switch after 6 mos. to ally or barclays or whoever has a better rate in 7 months.

    just do a web search on “high interest savings accounts”