Best Savings Account Interest Rates

If your money is still sitting in a standard savings account, you are missing out on so much more free money. We’ve already covered the importance of having a high-yield savings account, offered mostly by online banks. Now, we’re going to share some of those savings accounts with the highest interest rates offered right now. Some of these accounts do require minimum balances, but most of them don’t. Evaluate the best account for you, and start earning more interest immediately!

Ally Bank with 3.40% APY

Ally Bank offers high-yield savings accounts that come with amazing features like “buckets”. Your singular savings account can be broken up into buckets based on your individual goals.

Stats:

Opening Balance Requirement: None

Monthly Fees: None

Minimum Balance Requirement: None

SoFi with 3.75% APY

SoFi started as a lending company but has expanded into banking. Their online savings accounts currently yield an interest rate of 3.75%. Definitely one of the best rates currently out there.

Stats:

Opening Balance Requirement: None

Monthly Fees: None

Minimum Balance Requirement: None

Synchrony Bank with 3.75% APY

Synchrony Bank pays a hefty 3.75% APY year-round. While the banks above may fluctuate their interest rates based on specials and promotions, Synchrony Bank’s rate isn’t going anywhere anytime soon. What makes this account unique is that it comes with an ATM card, making access to your funds easier than other online savings accounts.

Stats:

Opening Balance Requirement: None

Monthly Fees: None

Minimum Balance Requirement: None

Marcus Goldman Sachs with 3.75% APY

Marcus, the new consumer bank of Goldman Sachs, offers a 3.75% interest rate on deposits. There is no minimum balance and no transaction fees. Similar to the accounts listed above, you can deposit funds via electronic transfer, wire transfer or deposit by check. You can also access your funds via electronic or wire transfer.

Stats:

Opening Balance Requirement: None

Monthly Fees: None

Minimum Balance Requirement: None

Maximum Balance Requirement: $250,000

All of the savings accounts listed above are FDIC-Insured for up to $250,000 (like most standard banks, as well). They are all great options for getting the most interest for your money. There are plenty of online banking options available, so make sure you do your research and ask around. Feel free to leave any questions you have about these accounts, or online accounts in general, in the comments section below.

Do you have an online savings account? What fears or reasons do you have for not opening an online savings account? Share your thoughts below!

-The CGS Team