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Standout Online Savings Accounts

The best online savings accounts offer high interest rates while being a great 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 0.47%*. 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.

Standout Online Savings Accounts From Our Partners

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Wealthfront Cash Account

4.5

NerdWallet rating 
Wealthfront Cash Account

Monthly fee

$0

APY

5.00%

With $1 min. balance for APY

Bonus

$30

Requirements to qualify

Learn more

at Wealthfront

Fidelity IRA

5.0

NerdWallet rating 
Fidelity IRA

Fees

$0

no account fees to open a Fidelity retail IRA

Account minimum

$0

Promotion

None

no promotion available at this time

Learn more

on Fidelity's website

Interactive Brokers IBKR Lite

5.0

NerdWallet rating 
Interactive Brokers IBKR Lite

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Learn more

on Interactive Brokers' website

⏰ Limited-time offer

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
$400

Limited-time offer

Up to $300 cash and $100 in rewards points. Terms apply.
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Don’t miss out on a bigger bonus

Get a NerdWallet-exclusive bonus of up to $400 when you open an account and hit $5,000 in direct deposits within 25 days after your first one. That’s $100 more than SoFi’s normal $300 bonus! Select "Learn More" to get started. Expires 4/22/24. Terms apply.

NerdWallet rating 

4.5

/5
American Express® High Yield Savings Account
Learn more

at American Express National Bank, Member FDIC

APY

4.30%

With $1 min. balance for APY

Bonus

N/A

NerdWallet rating 

4.5

/5
Barclays Online Savings Account
Learn more

at Barclays, Member FDIC

APY

4.35%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

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 11x the average APY** — plus, they also offer rock-bottom maintenance fees.


*The national average annual percentage yield ("APY") is listed as 0.47% as reported by the Federal Deposit Insurance Corporation as of March 17, 2024.

**10x more interest based on the national average annual percentage yield ("APY") of 0.47% (as reported by the Federal Deposit Insurance Corporation as of March 17, 2024) 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.

To recap our selections...

NerdWallet's Standout Online Savings Accounts