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High Yield Online Savings Accounts

Find the best online savings rates available.

What is a High Yield Savings Account?

High Yield Savings Accounts are savings accounts--typically only available online--that provide higher interest rates than your typical savings account from a brick and mortar bank. They usually have a $1 minimum and can only be opened online. You can usually transfer money in directly. Interest is usually compounded daily and paid monthly.

Top High Yield Savings Rates


Rate Search ResultsClick here for column definitions
Institutions
Account
Rate
APY
Minimum Deposit
Avoid Fees
Monthly Service Fee


Salt Lake City, UT
Savings1.341.35$1000.000.00


Woodland Hills, CA
Savings1.291.30$10,0000.000.00


New York, NY
Savings1.191.20$10.000.00


Glen Allen, VA
Money Market1.191.20$10,0000.000.00


Midvale, UT
Savings1.191.20$00.000.00


New York, NY
Savings1.151.15$00.000.00


Purchase, NY
Savings1.101.11$00.000.00
UFB Direct

San Diego, CA
Money Market1.401.41$5,0005000.0010.00
DollarSavingsDirect

New York, NY
Savings1.391.40$10.000.00
EBSBDirect

S Boston, MA
Money Market1.381.39$50,0005000.0015.00
Salem Five Direct

Salem, MA
Savings1.351.35$1000.000.00
EverBank

Jacksonville, FL
Money Market0.861.31$5,0000.000.00
Synchrony Bank

Morristown, NJ
Savings1.291.30$00.000.00
BankPurely

Uniondale, NY
Savings1.291.30$10.000.00
Sallie Mae

Murray, UT
Money Market1.291.30$00.000.00
Pacific National Bank

Miami, FL
Money Market1.291.30$5,0005000.0025.00
M.Y. Safra Bank, FSB

New York, NY
Money Market1.251.26$5,0005000.0010.00
Northern Bank Direct

Woburn, MA
Money Market1.261.26$250.000.00
Barclays

Wilmington, DE
Savings1.201.20$00.000.00
Discover Bank

Riverwoods, IL
Savings1.141.15$00.000.00
My e-BAnC

Coral Gables, FL
Money Market1.141.15$5,0005000.0015.00
Northeast Bank

Portland, ME
Money Market1.091.10$5,0002500.007.00
Dime Community Bank

Brooklyn, NY
Money Market1.091.10$1,0000.000.00
FNBO Direct

Omaha, NE
Savings1.101.10$10.000.00
AloStar Bank of Commerce

Birmingham, AL
Savings1.041.05$500.000.00
Discover Bank

Riverwoods, IL
Money Market1.001.01$2,5002500.0010.00
First Internet Bank of Indiana

Indianapolis, IN
Money Market0.900.90$1004000.005.00
Pacific National Bank

Miami, FL
Savings0.900.90$100100.005.00
Colorado Federal Savings Bank

Greenwood Village, CO
Savings0.850.85$2,5000.000.00
Synchrony Bank

Morristown, NJ
Money Market0.850.85$00.000.00
EH National Bank

Beverly Hills, CA
Money Market0.810.81$1,00010000.0020.00
VirtualBank

Miami, FL
Money Market0.800.80$100100.005.00
EH National Bank

Beverly Hills, CA
Savings0.790.79$1,0000.000.00
Mutual of Omaha Bank

Manhattan Beach, CA
Money Market0.770.77$1,0001000.0010.00
California First National Bank

Irvine, CA
Money Market0.750.75$5,0005000.0020.00
Capital One 360

Glen Allen, VA
Savings0.750.75$00.000.00
First Internet Bank of Indiana

Indianapolis, IN
Savings0.600.60$1001000.002.00
AloStar Bank of Commerce

Birmingham, AL
Money Market0.500.50$1,0001000.0010.00
giantbank.com

Ft. Lauderdale, FL
Money Market0.450.45$1,0000.000.00
State Farm Bank

Bloomington, IL
Money Market0.300.30$1,000500.0010.00
Goldwater Bank

Scottsdale, AZ
Money Market0.260.26$1,0000.000.00
Luana Savings Bank

Luana, IA
Money Market0.250.25$2,5002500.0010.00
5 Star Bank

Colorado Springs, CO
Money Market0.150.15$1,0000.000.00
Third Federal Savings and Loan

Cleveland, OH
Savings0.150.15$25,0000.000.00
State Farm Bank

Bloomington, IL
Savings0.100.10$1000.000.00
NewDominion Bank

Charlotte, NC
Money Market0.100.10$5002500.000.00
Applied Bank

Wilmington, DE
Savings0.100.10$100100.0010.00
Citizens Trust Bank

Atlanta, GA
Money Market0.050.05$1,0002500.0010.00
Citizens Trust Bank

Atlanta, GA
Savings0.050.05$1,0000.000.00
USAA

San Antonio, TX
Money Market0.050.05$10,0000.000.00
USAA

San Antonio, TX
Savings0.050.05$250.000.00
M.Y. Safra Bank, FSB

New York, NY
Savings0.050.05$100300.005.00
BBVA Compass

Birmingham, AL
Money Market0.050.05$2510000.0015.00
Applied Bank

Wilmington, DE
Money Market0.020.02$500500.0010.00

How does a high yield savings account work?

The reason banks can offer higher savings rates on these online accounts is because the overhead required to maintain and manage these accounts is a lot lower than your brick and mortar savings account. Unlike high yield checking accounts, high yield savings accounts don't have many requirements. You can usually make as many withdrawals as you want, and with a minimum balance of only $1 and online transfers available, it is very easy to move your money around.

Important information about high yield savings accounts

Some things to keep in mind: there are some savings accounts have higher minimum balances, so it is important to research this before applying for an account. With these accounts, the savings rate is usually significantly lower if you don't meet the minimum balance requirements. In addition, the rates on these savings accounts can change quickly as the market changes, because banks aren't obligated to lock in a rate. So we see a bit of quid pro quo--while you can maintain a lot of flexibility and liquidity, the bank can as well. Make sure you do your research and find the best savings rate before signing up!


*EverBank's bonus rate applys for 3 months, and then the rate reverts to 2.15% for the first year on balances up to $50,000

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Dime Savings Bank Prime Rewards Money Market Account

Dime Savings Bank has a Prime Rewards Money Market Account earning 1.01 percent annual percentage yield (APY) on balances of $75,000 and up. The money market rate is available for passbook and statement accounts. The money market has tiered interest rates that are currently at: 0.2 percent APY for balances of less than $1,000 0.45 percent APY [...]

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Salem Five Direct – 1.25% APY Guaranteed

Traditional savings accounts feature variable APYs that can be changed at any time. Salem Five Direct is bucking this trend by offering a guaranteed 1.25% APY on their eOneSavings account, which has a minimum of $100. If you apply by June 1, the rate will be guaranteed for one year until April 1, 2012. The [...]

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FirstMerit Savings Account Tops Rates for Users in Ohio

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CNB Bank Direct High Yield Savings, CD

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AIG Bank Signature Money Market Account

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ING Direct $175 in Bank Bonuses

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Kasasa Rewards Checking & Savings – First National Bank

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Top Savings Account Rates – 11/8/10

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Sallie Mae Bank – CDs & Savings Accounts

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Acacia Federal Savings Bank

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Citibank Ultimate Savings Account Bonus

This isn’t the best bank bonus, but for anyone looking to open a Citibank Savings Account you might as well get a free $25 out of it, right? All you have to do is open a Citibank Ultimate savings account and deposit a minimum of $1,000 by 2/28. You have to maintain a minimum of [...]

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US Bank Certificates of Deposit

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