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.
Top Rate is with EverBank
The best rate available right now is a bonus 2.25% through EverBank. Here’s more…
- Low $1,500 initial-deposit requirement
- No-fee Online and Mobile Banking
- Up to six withdrawals per month
- FDIC insured
The rest of the rates are below. 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 mortar type institutions. And don’t forget that all of these savings accounts are FDIC insured.
| Bank | Rate (APY) | Minimum | Review | Bonus |
|---|---|---|---|---|
| Everbank | 2.25 | $1,500 | EverBank Review | $0 |
| WT|Direct | 1.41 | $10K | Pending | $0 |
| FNBO Direct | 1.40 | $0 | FNBO Direct Review | $0 |
| Ally Bank | View | $0 | Ally Bank Review | $0 |
| HSBC Advance | 1.35 | $0 | Pending | $0 |
| ING DIRECT | 1.25 | $0 | ING DIRECT Review | $25 |
| SmartyPig | 2.01 | $25 | SmartyPig Review | $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:
Hi and welcome to ptMoney.com. I'm PT. Please visit often, download my 
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???
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.
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
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.
@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.
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.
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.
I’ve added Schwab, EmigrantDirect, and Dollar Savings Direct.
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%.
ING is the best, although their rates have gone down, they provide good services
I agree, thom. We use ING DIRECT pretty exclusively now. I have a BOA account just for making check deposits.
Looks like the best online savings account out there today is SFGI Direct at 2.25%. Beats my Onbank account which dropped below 1%