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Standout Online Savings Accounts From Our Partners
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 *. 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
Bank/institution | NerdWallet rating | APY | Bonus | Learn more |
|---|---|---|---|---|
SoFi Checking and Savings | 4.5 /5 | 4.60% With $0 min. balance for APY | $300 Earn up to $300 with direct deposit. Terms apply. | |
CIT Bank Platinum Savings | 4.5 /5 | 5.00% With $5,000 min. balance for APY | N/A | |
American Express® High Yield Savings Account | 4.5 /5 | 4.25% With $1 min. balance for APY | N/A | |
EverBank Performance℠ Savings | 4.5 /5 | 5.05% With $0 min. balance for APY | N/A | |
Bask Interest Savings Account | 4.5 /5 | 5.10% With $0 min. balance for APY | N/A | |
Barclays Tiered Savings Account | 4.5 /5 | 4.80% With $250,000 min. balance for APY | N/A | |
UFB Portfolio Savings | 4.5 /5 | 5.15% With $0 min. balance for APY | N/A | |
Capital One 360 Performance Savings™ | 4.5 /5 | 4.25% With $0 min. balance for APY | N/A |
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Wealthfront Cash Account
Monthly fee
$0
APY
5.00%
With $1 min. balance for APY
Bonus
$30
Requirements to qualify
Charles Schwab
Fees
$0
per online equity trade
Account minimum
$0
Promotion
None
no promotion available at this time
Robinhood
Fees
$0
per trade
Account minimum
$0
Promotion
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
NerdWallet rating
4.5
/5
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
APY
5.00%
With $5,000 min. balance for APY
Bonus
N/A
NerdWallet rating
4.5
/5
APY
4.25%
With $1 min. balance for APY
Bonus
N/A
NerdWallet rating
4.5
/5
APY
5.05%
With $0 min. balance for APY
Bonus
N/A
NerdWallet rating
4.5
/5
APY
5.10%
With $0 min. balance for APY
Bonus
N/A
NerdWallet rating
4.5
/5
APY
4.80%
With $250,000 min. balance for APY
Bonus
N/A
NerdWallet rating
4.5
/5
APY
5.15%
With $0 min. balance for APY
Bonus
N/A
NerdWallet rating
4.5
/5
APY
4.25%
With $0 min. balance for APY
Bonus
N/A
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.
**11x more interest based on the national average annual percentage yield ("APY") of (as reported by the Federal Deposit Insurance Corporation as of ) 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 as reported by the Federal Deposit Insurance Corporation as of .
To recap our selections...
NerdWallet's Standout Online Savings Accounts
- SoFi Checking and Savings: 4.60% APY
- CIT Bank Platinum Savings: 5.00% APY
- American Express® High Yield Savings Account: 4.25% APY
- EverBank Performance℠ Savings: 5.05% APY
- Bask Interest Savings Account: 5.10% APY
- Barclays Tiered Savings Account: 4.80% APY
- UFB Portfolio Savings: 5.15% APY
- Capital One 360 Performance Savings™: 4.25% APY