Standout online savings accounts

To make the search easier, we created this shortlist of standout picks from our partners. And with competitive APYs, rock-bottom fees and more, these savings accounts offer something for everyone. Check out the offers, from our partners, and start earning interest today.

Building an emergency fund

Emergency funds don’t get enough credit. They’re useful to literally everyone and protect you from falling into debt when “life happens”. Think: blown transmission, a surprise vet bill or even losing a job. Experts recommend having 3-6 months of living expenses in your fund. And because the money needs to be available at last notice — but might sit around for quite a while — a high-interest savings account is one of the best accounts you can use.

Why online banks dominate the list

The two most important factors for virtually every bank-shopper are APYs and maintenance fees (since they have the biggest impact on your bottom line). And, as it happens, online banks are offering massive APYs — as much as 12x the average APY* — plus, they also offer rock-bottom maintenance fees.

Looking for a hands-off way to invest? Try an online financial advisor.

Vanguard Personal Advisor Services is an excellent choice for investors who can meet the $50,000 account minimum and want to use the computer algorithms of a robo-advisor with access to a live financial advisor at a low cost.

Want an Online Broker For Stock Trading?

With standout features like low commission rates, impressive investing tools, easy-to-access research and more, these brokers offer something for every investor — from beginners to seasoned traders. And to help you find the one that’s right for you, we’ve highlighted their pros, cons and current offers.

*12x more interest based on the national average annual percentage yield ("APY") of 0.05% (as reported by the Federal Deposit Insurance Corporation as of September 17, 2020) as compared to online banks with interest-bearing savings account APYs of 0.60% or more. Estimated annual earnings result assumes principal and interest remain on deposit for one year and interest rates and APY do not change. Estimated annual earnings are for informational purposes only. Interest rates and APY are subject to change and specific results cannot be guaranteed.

1 The national average annual percentage yield ("APY") is listed as 0.05% as reported by the Federal Deposit Insurance Corporation as of September 17, 2020.

EXAMPLE OF POTENTIAL SAVINGS

If your money is in an account that earns a high interest rate, your balance will grow faster without any additional effort on your part. After one year, a balance of $10,000 would earn about $10 in an account with a 0.10% APY. That same balance would earn about $150 in an account with a 1.50% APY.