Best Savings Accounts 2024: High Yield Savings & Online Interest Rates

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	SoFi	9.8	Visit	4.30%		$250

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Why we picked it

Why choose between French or Italian food when you could have both? Sofi might not have the same “je ne sais quoi” as your favorite cuisines—but its two-in-one checking and savings solution is sweet enough to get you hooked. SoFi has a high enough APY that you’d think there was a catch (spoiler—there is none).

But that’s not just for savings—your checking account also comes with a solid 1.20%APY. If you think two-for-one could be confusing—the online features make it a cakewalk with easy tools to deposit checks, monitor savings, and transfer funds.

Another handy tool is their Vault feature—you can keep tabs on your financial and life goals. Everything is kept nice and protected—your account is fully FDIC insured up to $250,000.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Marcus by Goldman Sachs	9.8	Visit	4.15%		N/A

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You’ve finally been forced along to your (never-met-before) future brother-in-law’s Vegas bachelor party—you need money fast.

Well, you’ve hit the jackpot with Marcus by Goldman Sachs—they offer same-day or scheduled transfers up to $100,000 (to or from other banks). Before the slots suck you in—you can use the Marcus Insights tools to keep track of your cash and be strategic with your saving or spending decisions.

If your gambles haven’t paid off in the past—no worries, there’s no credit check needed to open a savings account. Whether you’re surrounded by the bright lights of Vegas or tucked up in bed (where you’d rather be)—you can use the highly-rated app anywhere you like, with 24/7 customer service support.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Discover	9.8	Visitdiscover.com/online-banking/savings-lng-04	4.00%		$200

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Why we picked it

Unlike the CDs of the past, Discover is stepping into the future with its impressive CD rates. If you’re just as clueless about CD rates as Gen Z is about pre-iPod music— a CD (certificate of deposit) is a type of savings account that pays higher interest rates.

Discover offers a bunch of CDs with term lengths of up to 10 years—enough time for Apple to roll out a hundred more overpriced music devices. (And, just like with Apple, you have to splash out to get the good stuff—and pay a minimum deposit of $2,500 for a CD account.)

But, they’re not out to take all your money—the bank offers up to $200 for opening your first Discover Online Savings account. You’ll also get 1% cash back if you spend up to $3,000 on your debit card every month with their checking account.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	American Express	9.6	Visitamericanexpress.com/en-us/banking/online-savings/account	4.00%		N/A

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Why we picked it

Remember telling your parents about that kid in school who would tease you—only for them to tell you it means they like you?

Don’t hate them, they meant well—but by now youhopefully know that if you want someone to stick around, you show them you appreciate them. American Express has this all figured out—after winning the top spot for Customer Satisfaction with Savings Accounts from Online Only Direct Banks. How did they do it? (Schoolkids and singletons, take note.)

They don’t charge any fees and offer a range of CDs with a 4.25% APY. American Express lets you easily transfer your savings to external bank accounts—they’ve also sealed the deal with a rewards checking account (exclusive for American Express cardholders).

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Ally Invest	9.6	Visitally.com	4.00%		N/A

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Why we picked it

You’ve finally got your paper paycheck from work. But, instead of payday drinks (or a takeaway for one), you have to wait until the bank is open—then force yourself out of bed, wait in line, and deposit your check.

If you prefer the comfort of your bed (don’t we all),Ally has an eCheck Deposit℠ that lets you deposit checks from your smartphone with a photo. There are also a bunch of online tools that help you organize your money, set goals, and get personalized recommendations.

When you’re ready to venture out, you’ll be able to make unlimited, free ATM withdrawals from over 43,000 Allpoint® ATMs across the country. (And if you’d rather stick to the local ATM—Ally will reimburse you $10 per statement cycle for any fees charged.)

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Barclays	7.0	Visitbarclays.com	4.00%		N/A

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Why we picked it

In a perfect world, we’d keep our money tucked away in a savings account and watch it grow. In reality, we have bills popping up, unexpected emergencies—and those new sneakers we just had to buy.

While some banks put a cap on transfers, Barclays has no limit on how many withdrawals and transfers you make from your savings account. You never know when the urge to buy new shoes will take over—so Barclays offers 24/7 online access for external bank transfers and direct deposit.

But—aren’t you here to save? Barclays has a range of CDs to choose from—with rates ranging from 4.2%–4.8% APY (up to five years).

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Lending Club	10.0	Visit	4.25%	$100	N/A

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Why we picked it

Imagine spending years saving up for a new house—only to lose it to some hacker living on the other side of the country.

Nowadays, online banking is pretty safe—but it’s nice to get some reassurance that your cash is protected. Like many savings accounts, Lending Club is FDIC-insured for up to $250,000—but they go the extra mile with 265-bit encryption to make sure all data is in safe hands. As well as security, Lending Club offers convenience—you can access your online account at any time or place while linking all external accounts to one place.

Now for the fun part—Lending Club lets you take control by creating budgets, tracking your spending, and analyzing trends. (You can even explore a bunch of handy strategies to get yourself out of debt.)

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Why we picked it

Many of us might consider $100 here and there as a savings success. But if you want to aim a little higher (and you’ve got some pretty deep pockets)— Bread Savings could be the one for you.

If I had a load of cash to spare, I’d probably buy a fancy yacht with a tiki bar—but if saving money floats your boat, Bread Savings lets you deposit a maximum of $1 million per account and up to $10 million per customer. (Even the big shots like to save where they can, though—so Bread Savings also offers free ACH transfers and online statements.)

Not everyone has a million dollars lying around. So—to really boost your savings—Bread Savings offers a range of CDs for up to five years.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Capital One	3.0	Visitcapitalone.com	4.00%		N/A

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Why we picked it

We’ve all gotten frustrated after waiting to speak with customer service for half an hour—only to hear robotic responses and little reassurance. Imagine a place where you could get expert advice, attend workshops—and enjoy coffee and cake while you’re there.

For Capital One customers—there’s such a place. Their cafes have a perfect blend of relaxation and useful conversation with access to money mentoring, free workshops, and community events. You can also chat with an Ambassador (no appointment necessary) who’ll help you set up a savings account and answer questions—espresso-ly for you.

Once you’ve bean there and done that—you can grow your online savings with automatic transfers and link your money to external accounts. (You can also set up financial goals and deposit checks by taking a picture on your phone.)

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Alliant Credit Union	9.0	Visit	3.10%	$100	$100

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Why we picked it

From the day your child is born until they reach adulthood—you’ll spend about $310,605 in total. And don’t even get us started on saving for college.

Surely there’s no harm in showing them the importance of saving money. With Alliant Credit Union, you can teach your kid how to make transactions, track their interest, and deposit that sizeable birthday check from the grandparents. If they won't stop asking for a remote control shark (that they’ll get bored with after a day)—you can show them how to set up financial goals and follow their progress.

And don’t worry—you won’t be completely handing the reins over. You can set up joint ownership and keep tabs on your child’s savings account whenever you want.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	PNC	8.6	Visit	0.02%–0.03%		N/A

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Why we picked it

PNC (Pittsburgh National Bank) is one of the oldest banks in the US—but being a traditional bank doesn’t mean they’re behind the times (they have the online banking tools to prove it).

PNC has 2,629 locations across 27 states—and 9,523 ATMs to choose from. If you want more bang for your buck, there’s also a high-yield savings account with a 4.00% APY that’s available online or in five different states—all you need to do is pop into the bank and someone will be there to answer all your questions (or nod politely at all your complaints).

When you’re ready to embrace the online world, PNC has a virtual wallet where you can combine your checking and savings accounts. The app and website are pretty easy to use—you can make mobile check deposits, manage your savings, and compare accounts.

	Name	Score	Visit	APY	Min Deposit	Welcome Offer	Monthly Fee	Disclaimer
	Bank of America	8.4	Visitwww.bankofamerica.com	0.01%	$100	N/A	$8

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Why we picked it

Technology isn’t for everyone—and neither is banking. If the two combined are just too much to wrap your head around, the thought of a real-life person helping you out is probably music to your ears.

Bank of America has no shortage of locations to choose from—with 3,900 branches and 16,000 free ATMs across the country. Go easy on the cash, though—the “Keep The Change” program will round up any debit card transactions to the nearest dollar from your checking account and transfer the difference to your savings.

If you’ve already planned a Harry Potter marathon and absolutely can’t leave the sofa— Bank of America also has plenty of features on their mobile and online banking—with access to all your financial needs.

There’s no need to spell out why savings are important—I’m pretty sure you’ve heard that from your grandparents, parents, and all your friends (who suddenly became financial experts overnight).

Having extra cash for a rainy day is great—but when you’re snowed under by dozens of banks, throwing different rates at you (and telling you they’re the chosen ones to handle all your life savings) it’ll leave you wanting to take a rain check. Trust me, finding a savings account isn’t so complicated (despite the bank's best efforts)—it’s pretty easy breezy once you break it down.

This is the one that all the banks like to jump on—and it refers to having a higher-than-average APY rate.

The Federal Deposit Insurance Corporation (FDIC) says the national APY average is 0.24% — anything above this is considered a high-yield savings account. The APY includes compound interest—the interest you earn on the money in your account over time. (There are plenty of compound interest calculators online to see how far you can grow your money.)

Most high-yield savings accounts offer an APY higher than 3% (and the higher the APY is, the more your money can grow). While the APY is a key factor to consider, you should also keep an eye out for extra fees, money management tools, and other perks, when deciding on a savings account.

While a CD account doesn’t come with a savings account, it’s another way of saving that’s usually offered along with your existing savings account.

So, how are CD accounts different from the standard savings account? Unlike a savings account—where you can dip in and out whenever the urge to book a plane ticket takes over—the money in a CD stays untouched (unless you want a penalty fee). Instead, you put a lump sum of money into your CD account for a fixed period in return for higher interest rates.

There are a bunch of CD rates out there, with different interests and term lengths—so why not shop around to see what takes your fancy?

If you’re keen to have everything in one place, a money market account is basically a cross between a savings account and a checking account.

Like a checking account, you’ll be able to get your hands on a debit card and write checks while saving money and earning interest. Sounds pretty handy? Well, there are a few catches. Money market accounts tend to cap the number of transfers and purchases to six every month.

While the interest rates aren’t too different from a normal savings account—you might get charged a higher balance requirement or minimum deposit.

Kids are great (at times) but they’re also expensive (most of the time). So—anything your kid can save and buy themselves will help you out—even if it’s only ten dollars for their ever-growing slime collection.

Aside from helping you save a few dollars—the main purpose of a kids' account is to teach them how to save and manage their money (since schools aren’t stepping up). The best kids' apps come with a bunch of tools to help them wrap their heads around their finances—some even offer games and quizzes to keep them entertained.

APY rates on savings accounts for kids and teens aren’t as high as typical savings accounts—but there’s usually a chance to earn some interest.

Saving isn’t easy—there are spending temptations everywhere—so being rewarded for your efforts is always a bonus. By regularly building up your savings, you’ll earn money passively through interest—so be sure to check out the bank’s rates to find the best deals for you.

Keeping your money in a savings account is a lot safer than your childhood safe (with siblings around to crack the code). Luckily, savings accounts remain untouched by others and offer consistent returns. Most banks have FDIC insurance up to $250,000 to safeguard your money (and keep it protected from any siblings-turned-hackers).

While this perk might not be included in your savings account, many banks offer a rewards card for their existing customers. Some banks will even give you a cash bonus for signing up—up to hundreds of dollars. But not everything is sunshine and roses.

Perhaps not exactly cons, but there are some drawbacks to consider when shopping around for a savings account—

Some banks like to suck you in with their impressive APY rates and cashback—but always keep an eye out for any hidden fees, like minimum deposits or monthly expenses. While the perks might justify these fees—it’s still worth comparing to other banks before you commit.

Before April 2020, federal law limited the number of withdrawals, debit card transactions, and online transfers from a savings or money market account to six per month. The law has since been revised—so customers can make unlimited withdrawals and transactions—but some banks will still charge a fee if you go over six per month.