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 0.37%*. 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.
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 0.37%*. 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.
The Federal Reserve raised interest rates multiple times in 2022, which is good news for your bank account. Take advantage of rising rates with one of the accounts below.
Standout Online Savings Accounts From Our Partners
| Bank/institution | NerdWallet rating | APY | Bonus | Learn more |
|---|---|---|---|---|
 SoFi Checking and Savings Learn more at SoFi, Member FDIC | 4.00% With $0 min. balance for APY | $250 Earn up to $250 with direct deposit. Terms apply. | Learn more at SoFi, Member FDIC | |
 Marcus by Goldman Sachs Online Savings Account Learn more at Marcus by Goldman Sachs, Member FDIC | 3.75% With $0 min. balance for APY | N/A | Learn more at Marcus by Goldman Sachs, Member FDIC | |
 CIT Bank Platinum Savings Learn more at CIT Bank, Member FDIC | 4.40% With $5,000 min. balance for APY | N/A | Learn more at CIT Bank, Member FDIC | |
 Discover Bank Online Savings Learn more at Discover Bank, Member FDIC | 3.60% With $0 min. balance for APY | $200 Requirements to qualify | Learn more at Discover Bank, Member FDIC |
You may also like these
Wealthfront Cash Account
Monthly fee
APY
With $1 min. balance for APY
Bonus
Requirements to qualify
at Wealthfront
Fidelity
Fees
per trade for online U.S. stocks and ETFs
Account minimum
Promotion
when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.
on Fidelity's website
Marcus by Goldman Sachs Online Savings Account
APY
With $0 min. balance for APY
at Marcus by Goldman Sachs, Member FDIC
APY
4.00%
With $0 min. balance for APY
Bonus
$250
Earn up to $250 with direct deposit. Terms apply.
APY
3.75%
With $0 min. balance for APY
Bonus
N/A
Why We Like It
The Wall Street firm’s online bank has a strong savings option with the high rate of 3.75% APY and no minimum balance requirement to start earning interest. There are no transaction fees. Its online CDs also have top yields (see our list of best CD rates).
For more about Marcus, see our full review.
APY
4.40%
With $5,000 min. balance for APY
Bonus
N/A
APY
3.60%
With $0 min. balance for APY
Bonus
$200
Requirements to qualify
Why We Like It
The interest rate for Discover Bank Online Savings account is among the highest at 3.60% APY, and there are no fees, which means there are no monthly fees, no overdraft fees and no minimum amount to open an account. And there’s a bonus, if you’re eligible.
Learn more about banking at Discover with our full review.
*The national average annual percentage yield ("APY") is listed as 0.37% as reported by the Federal Deposit Insurance Corporation as of Dec 01, 2022.
To recap our selections...
NerdWallet's Standout Online Savings Accounts
- SoFi Checking and Savings: 4.00% APY
- Marcus by Goldman Sachs Online Savings Account: 3.75% APY
- CIT Bank Platinum Savings: 4.40% APY
- Discover Bank Online Savings: 3.60% APY
