Top High-Yield Savings Accounts
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I spend a lot of time talking about the need to have your money in a high-interest or high-yield savings accounts, so I thought it was time I put together a list of the top high-yield savings accounts.
This is by no means a complete list of the accounts out there. It’s just the one’s I’ve had some experience with. I’ll will link to this post from the home page and periodically update this listing with new accounts that I find and all the rate changes that take place.
I’ve sorted the list by annual percentage yield (APY). The rates are constantly changing, so don’t focus on that too much. One thing to note though is that any of these accounts would be great compared to the savings accounts held at traditional brick and morter type institutions. And don’t forget that all of these savings accounts are FDIC insured.
| Bank | Rate (APY) | Minimum | Review | Bonus |
|---|---|---|---|---|
| Ally Bank | 1.55 | $0 | Ally Bank Review | $0 |
| Dollar Savings | 1.70 | $1K | Pending | $0 |
| FNBO Direct | 1.50 | $0 | FNBO Direct Review | $0 |
| WT|Direct | 1.51 | $10K | Pending | $0 |
| Schwab Bank | 1.05 | $0 | Pending | $0 |
| HSBC Direct | 1.35 | $0 | Pending | $0 |
| EmigrantDirect | 1.30 | $0 | Pending | $0 |
| ING DIRECT | 1.30 | $0 | ING DIRECT Review | $25 |
| E*Trade | 0.60 | $0 | Pending | $0 |
| Virtual Bank | 1.00 | $1K | Pending | $20 |
| Capital One | 1.60 | $10K | Pending | $0 |
| Everbank | 1.20 | $0 | Pending | $0 |
If you know of a high-yield savings account I could add to this page, or if you’re aware of a rate change, please let me know. Thanks. Read more about…high-interest savings accounts.
Related posts:
- High-Yield Savings Account Mini-Reviews
- Ally Bank Review: High Interest Online Savings Account and More
- FNBO Direct Review: High Interest Online Savings Account
- 10 Things That Bring Success in Personal Finance: #5 Put Your Savings in a High-Interest Savings Account
- How to Setup Multiple Savings Accounts at ING DIRECT
13 Responses to “Top High-Yield Savings Accounts”
By MrsRefney on Apr 27, 2009 | Reply
When I first joined ING, it was around 4%. How I miss those days…
I was actually going to email you today about high interest savings accts. When did you start reading minds???
By PT on Apr 27, 2009 | Reply
MrsRefney – Yeah, I hate to see these rates now. Just another way us responsible folks are getting the short end in this economy.
Oh, and high-interest savings is always on my mind.
By RBJ on Apr 28, 2009 | Reply
Should this list also include High-yield Money Market accounts? Over recent months, the Capital One MM account (with no minimums) has had a higher rate than the Capital One Savings account. Once you get over $10k, it makes sense to move that to a Capital One Savings acct (minimum to achiever higher rate).
RBJ
By Sarah on Apr 28, 2009 | Reply
Charles Schwab has a 2% savings account right now- my friend told me about it and I recently filled out the pw to open one myself.
By PT on Apr 28, 2009 | Reply
@RBJ – Good points. I will consider MMAs if I ever add another section to this list.
@Sarah – I use Schwab for my 401K. Thanks for the tip.
By ben on Apr 28, 2009 | Reply
I have used Emigrant Direct for years and their current rate is 1.65%. Their site is very easy to use and you can have multiple accounts with one log-in to help separate your different savings categories.
By MK on Apr 29, 2009 | Reply
dollarsavingsdirect.com. 2.05%, $1500 minimum. VERY easy to use. I beleive it is a part of Emigrant Bank, which as far as I know is different than Emigrant Direct.
By PT on May 8, 2009 | Reply
I’ve added Schwab, EmigrantDirect, and Dollar Savings Direct.
By AParish on May 8, 2009 | Reply
GMAC bank has 2.23%. Etrade is now down to .95% as of today, 5/8/09. When I joined Etrade less than a year ago, it was at 5%.
By thom young on Jul 31, 2009 | Reply
ING is the best, although their rates have gone down, they provide good services
By PT Money on Jul 31, 2009 | Reply
I agree, thom. We use ING DIRECT pretty exclusively now. I have a BOA account just for making check deposits.
By Rate Watcher on Oct 21, 2009 | Reply
Looks like the best online savings account out there today is SFGI Direct at 2.25%. Beats my Onbank account which dropped below 1%