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Standout Online Savings Accounts

The best online savings accounts offer high interest rates while being a safe place to park your money. Because online banks don’t have the expense of maintaining branches, they can offer high-interest savings paying many times higher than the national average of 0.36%*. To make the search easier, we created this shortlist of standout picks from our partners. Check out the offers, from our partners, and start earning interest today.

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Standout Online Savings Accounts From Our Partners

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Fidelity

5.0

NerdWallet rating 
Fidelity

Fees

$0

per trade for online U.S. stocks and ETFs

Account minimum

$0

Promotion

None

no promotion available at this time

Merrill Edge® Self-Directed

4.2

NerdWallet rating 
Merrill Edge® Self-Directed

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

SoFi Active Investing

4.2

NerdWallet rating 
SoFi Active Investing

Fees

$0

per trade

Account minimum

$0

Promotion

Up to $1,000

in free stock for users who sign up via mobile app

Learn more

on SoFi Invest's website

NerdWallet rating 

4.5

/5
SoFi Checking and Savings
Learn more

at SoFi Bank, N.A., Member FDIC

APY

4.60%

With $0 min. balance for APY

Bonus

$300

Earn up to $300 with direct deposit. Terms apply.

NerdWallet rating 

4.5

/5
Discover® Online Savings
Learn more

at Discover® Bank, Member FDIC

APY

4.25%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

NerdWallet rating 

4.5

/5
American Express® High Yield Savings Account
Learn more

at American Express National Bank, Member FDIC

APY

4.25%

With $1 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Marcus by Goldman Sachs Online Savings Account
Learn more

at Goldman Sachs Bank USA, Member FDIC

APY

4.40%

With $0 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
CIT Bank Platinum Savings
Learn more

at CIT Bank, Member FDIC

APY

5.00%

With $5,000 min. balance for APY

Bonus

N/A

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.

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 6x the average APY** — plus, they also offer rock-bottom maintenance fees.

**6x more interest based on the national average annual percentage yield ("APY") of 0.36% (as reported by the Federal Deposit Insurance Corporation as of October 6, 2021) as compared to online banks with interest-bearing savings account APYs of 0.40% 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.

*The national average annual percentage yield ("APY") is listed as 0.36% as reported by the Federal Deposit Insurance Corporation as of October 6, 2021.

To recap our selections...

NerdWallet's Standout Online Savings Accounts