When you're seeking the best online savings account, consider the best high-yield savings account—the account that will pay the highest APY (annual percentage yield). High-yield savings accounts are a low-risk way to reward yourself for saving. These extra earnings can make a big difference in your savings.
NerdWallet's list of the best savings accounts feature options with great customer service, higher-than-average interest rates and low or no monthly fees. The best high-yield savings accounts offer at least 3.50% APY and don't charge monthly maintenance fees.
If you're looking for the best rate for your savings, high-yield savings accounts typically offer yields that pay many times the national average. A savings account helps you grow your wealth safely while keeping your money close at hand. You can open one with most banks and credit unions.
We rounded up the top eight high-yield savings accounts that offer some of the best APYs and zero monthly fees. Our picks for the best high interest savings accounts include high yield accounts from Capital One, Ally and other banks.
The first option on our list is Capital One 360, which offers an impressive APY of 0.90%. There's no monthly fee and a low minimum deposit of just $1. You can open an account with a debit card and make unlimited withdrawals. The account also allows you to easily transfer funds between accounts and track your spending.
Ally Bank is another great choice for a high-yield savings account. It offers an APY of 0.90% with no monthly fees and a low minimum deposit of $1. Ally also offers a robust mobile banking app and 24/7 customer service.
Discover Bank is another great option for a high-yield savings account. It offers an APY of 0.85% with no monthly fees and a low minimum deposit of $500. The account is FDIC insured and includes online banking and mobile check deposits.
Another great option is the Barclays Online savings account, which offers an APY of 0.90% and no monthly fees. It also offers a low minimum deposit of $500 and allows you to set up automatic transfers.
Chase Bank also offers a great high-yield savings account. It offers an APY of 0.90% with no monthly fees and a low minimum deposit of $1. It also offers a mobile app and 24/7 customer service.
Synchrony Bank is another great option for a high-yield savings account. It offers an APY of 0.80% with no monthly fees and a low minimum deposit of $1. The account also offers online banking and mobile check deposits.
Goldman Sachs Bank USA also offers a great high-yield savings account. It offers an APY of 0.90% with no monthly fees and a low minimum deposit of $1. It also offers a mobile app and 24/7 customer service.
Ally Bank's savings Builder account is another great choice for a high-yield savings account. It offers an APY of 0.90% with no monthly fees and a low minimum deposit of $1. The account also allows you to easily transfer funds between accounts and track your spending.
Another great option is the Simple High Yield savings account, which offers an APY of 0.85% with no monthly fees and a low minimum deposit of $1. It also offers online banking and mobile check deposits.
Finally, if you're looking for the highest possible yield for your savings, consider opening a high-yield savings account at US Bank. It offers an APY of 0.95% with no monthly fees and a low minimum deposit of $1. The account also offers online banking and mobile check deposits.
