I’ve used online savings accounts for years. The Dough Roller editorial team has researched hundreds of options and selected the highest yield options based on interest rate and fees. The result is this list of the best online savings account offers.

Online savings accounts are one of the best places to stash your cash. Also called high yield savings accounts, you earn some of the highest available interest rates for a savings account, and you get the convenience of online account management and easy transfers to and from your existing bank accounts. Recently, a reader e-mailed me asking where to find the best online cash accounts. So here is my list of some of the top paying online savings account offers.
Deal of the Day: CIT Bank has a 1.80% APY on their Money Market Account. $100 minimum deposit required and all deposits are FDIC insured up to the $250,000 per depositor maximum. Advertising Disclosure – The savings offers that appear on this site are from companies from which DoughRoller receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). DoughRoller does not include all savings companies or all savings offers available in the marketplace.

Best Savings Account Deals

• CIT Bank: Earn 2.10% APY with just a $100 deposit required to open an account. (Savings Builder)
• Barclays Bank: Earn 1.90% APY with no monthly maintenance fee and no minimum balance to open.
• Citi: Earn 2.05% APY with no minimum deposit required.
• American Express National Bank Member FDIC: Earn 1.75% (as of 11.07.2019) Annual Percentage Yield with no minimum balance.
• Ally Bank: Earn 1.80% APY with no minimum balance

Online Savings Account Details

Because of their convenience, security and favorable interest rates, online savings accounts are perfect for emergency funds or other short-term savings. Interest rates on these savings accounts do change, and here are some of the highest yield account offers to make the most of your money. American Express National Bank member FDIC currently pays 1.75% APY (as of 11.07.2019) for it’s online savings account product.  American Express has NO monthly minimum or deposit requirement and the interest rate is paid across all balances.  This is my online savings account of choice. This short review was prepared by DoughRoller. The opinions expressed in this short review are ours alone and do not reflect the view of American Express National Bank nor American Express Company. CIT Bank sports one of the highest savings account rates available at 2.10% APY with their new Savings Builder account.  To earn the 2.10% APY, you need to either make a deposit of $100 per month OR maintain a balance of $25,000.  Initial opening deposit minimum is just $100. Learn More Barclays offers one of the highest savings rates available today at 1.90%, topping out at 21x the national average. There are no monthly maintenance fees and no minimum balance requirements. The Barclays website also features a savings goal tool. It enables you to save a specific amount for a set goal.

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Citi offers their Accelerate Savings account which is currently yielding a 2.05% APY on all account balances.  Citi has the largest fee free ATM network with over 60,000 ATM’s across the country and you can always move funds fee-free between Citi Ally Bank: This is another great bank, and it is currently paying an APY of 180%. While it’s not the top rate, I’ve found the Ally website to be extremely easy to use. And the bank also offers an excellent lineup of CDs. Discover Bank: Discover Bank offers a very competitive savings account rate at 1.80% APY. There is no minimum balance requirement to open an account. Interest is compounded daily, and there are no monthly fees. FNBO Direct, better known as First National Bank of Omaha offers online savings accounts, CD’s and fee-free bill pay for all its customers. This is the bank that I personally use and even though the APY isn’t the best on this list, the online interface and customer service is top notch. FNBO Direct is an excellent choice. It currently pays 1.90% APY.

Savings Account Alternatives

If you are looking for higher returns, LendingClub may be the answer. LendingClub is a social lending site where you can invest in loans issued to individuals and businesses. The current average return is above 9%, and some loans carry interest rates as high as 20%. While these investments are not FDIC insured, given the low interest rates paid by banks, LendingClub may be a great alternative. Visit www.LendingClub.com for more information.

High Yield Options From Our Sponsors

 

Bank	APY	Min. Deposit	Details
	2.10%	$100	Apply Now
	2.05%	$0	Learn More
	1.90%	$0	Apply Now
	1.80%	$0	Learn More
	1.80%	$0	Apply Now
	1.75%	$0	Apply Now

Here is a list of the best online savings account offers. We've researched hundreds of options and select the top offers based on interest rate and fees.

The post Best Online Savings Accounts with High Interest of 2020 appeared first on The Dough Roller.

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