5 online savings accounts with high yields
The best online savings accounts are the ones that can keep your money safe while growing your money as much as possible. Online savings accounts can usually offer higher yields than traditional accounts because online banks have less overhead cost. This list will share five of the best online savings accounts you could put money in.
Marcus by Goldman Sachs
The Marcus by Goldman Sachs online savings account offers its users a very competitive 2.05% annual percentage yield (APY) on deposits. They also offer good rates on CDs for people looking to invest in something more long-term. Marcus charges no monthly fees and no minimum balance to earn interest.
Barclays Online Savings
This online savings account also offers a 2.05% APY but lacks the CDs of Marcus by Goldman Sachs. Otherwise, the accounts are nearly identical. Barclay’s Online Savings also has no monthly fees or minimum balance requirement. The high interest rate offered by this account makes it a solid choice for anyone looking for a savings account.
Synchrony High Yield Savings
Another online bank offering a savings account with 2.05% APY, Synchrony offers all the benefits of high yield savings account, with the convenience of also having an ATM card. There is no minimum balance requirement or monthly fee to be paid, and this bank offers its users some other perks to earn.
The Bank5 Connect online savings account offers a high interest rate (2.05%) but does require a minimum deposit to open an account (just $10). People who use this bank also need to keep at least $100 in the account to earn interest, making it a slightly less pleasing choice than some of the others accounts in this list.
CIT Bank Savings Builder
For people who can be steady with their savings, the CIT Bank Savings Builder account may be the very best choice in online savings accounts. If you deposit at least $100 into the account every month you earn the highest interest rate on this list: 2.15%. There is also a minimum of $100 necessary to open the account, but no monthly fees.