Best Online Savings Accounts with High Interest of 2016

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.

Deal of the Day: Earn 1.00% APY on an FDIC-insured savings account at Ally Bank.

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.

Current Savings Account Deals:

Barclays: Earn 1.00% APY with no monthly maintenance fees and no minimum balance to open.

Everbank: Get a 6-month bonus APY of 1.60% with a minimum opening balance of $1,500.

Chase SavingsSM:  Get a $100 bonus when you open a new Chase SavingsSM account, deposit a total of $10,000 or more in new money within 10 days & maintain a $10,000 balance for 90 days

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.

Barclays offers one of the highest savings rates available today, topping out at 12x the national average. There are no monthly maintenance fees and no minimum balance requirements.

Capital One 360 is the bank my whole family uses. Both of my teenage children have Money accounts, and my wife and I have checking and savings accounts. The interest rates are extremely competitive, there are virtually no fees, and the website is extremely easy to use. In addition, I use the Capital One 360 iPhone app to check balances, make transfers, and deposit checks.

FNBO Direct, better known as First National Bank of Omaha offers online savings accounts, CD’s and fee free bill pay for all it’s customers. This is the bank that I personally use and even though the APY isn’t the best on on this list, the online interface and customer service is top notch. FNBO Direct is an excellent choice

EverBank is one of the best online savings account options for one very simple reason–it promises to offer interest rates in the top 5%. Called a Yield Pledge, EverBank guarantees that your rate will always be in the top 5% of competitive accounts offered by leading banks.

Savings Account Alternatives

lending-club2If 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 for more information.

More High Yield Options

BankAPYMin. DepositDetails
Editor's Choice



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GE Capital BankEditor's Choice



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Barclay's Bank



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Capital One 360



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*Earn 1.00% APY for accounts with balances of $10,000.00 or more. For accounts with less than $10,000.00, earn a great everyday rate of 0.60% APY.

Published or Updated: October 31, 2016
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.


  1. GL says:

    So 3.75% is the best deal online right now?.. I’m fairly certain that even Treasury bonds can provide a higher return than that. 🙁

    • NL says:

      Who pays 3.75?

  2. hejustlaughs says:

    @ GL… Yeah, but are treasury bonds as liquid as savings accounts?

    • DR says:

      GL, there is also more risk with Treasury bonds. Depending on when you need to cash out, if interest rates have risen, you may be forced to sell at a loss.

  3. Merna says:

    How about SmartyPig?

    They offer 3.4% right now and it’s a great way to force yourself to save money by setting goals. Save now, buy later!!

    • DR says:

      Merna, it’s funny you mention SmartyPig. I just ran across an article in Fast Company magazine about SmartyPig, and I’m preparing a follow up article on the site.

    • Gary says:

      Smarty Pig savings is at 1.34 now, but it’s still better than the rest.

      • Thomas says:

        Is there a link to Smartypig available? I tried typing it into Google and got a DNS server blah blah blah error.

  4. Mike says:

    Other than government bonds, the new Tax free Saving Account being introduced in Canada is also going to be a very good option for investors.

  5. Big Winner says:

    It would be interesting to find out a comparison between the yields of the savings accounts now versus a year or two ago. I seem to remember that ING and others were at 4.5-5% in 2006, but I could be mistaken.

  6. mike says:

    What can be the next best thing to stuff that is not fdic insured. What do you think about ag financial savings account Mr. Roller?

    • DR says:

      Actually, the AG financial savings account pays a good interest rate and promotes a good cause, too!

  7. Julie says:

    Hi – great list of online savings accounts – but there are more! I work with ShoreBank that has a competitive online savings account at 3.5% interest. Some more details: $1 minimum, no monthly fees, online and phone customer service. If you are interested in promoting good causes – ShoreBank is a great option. ShoreBank has a bottom line mission to invest in socially and environmentally (and sometimes both at once) responsible projects and businesses – so a good rate, a great cause.

  8. HGI says:

    They talk about the most recent high-yield savings accounts and also gives an opinion about each one on Feeding Wealth.

  9. Fontaine says:

    How about American Express Personal Savings account? Like Discover, they recently started offering a savings account with a 2% APY. Any opinion on this one?

  10. Ram Shah says:

    The TOP High Yield Online saving bank is and has been over a year is South Shore bank. Until very recently offrerd 2.1 % rate and just now dropped to 1.90% !
    Why is this bank NOT reported is a mystery to me……
    I do have an account there for last six months and surprised no one comes close to this bank!!

  11. Melvin Torres says:

    BRICK and mortar! BRICK and mortar! NOT “brink” and morter. The smart little piggy built a BRICK house, not a “brink” house.

  12. Tyler says:

    I invested with Flux Holdings when they accepted new investors. The rates have held steady at 2.5% even with the recession. But it looks like they’re not accepting new clients right now.

    • DR says:

      Tyler, as you no doubt know, Flux Holdings is not FDIC insured.

  13. dewalt says:

    Can some one explain me how this works? Im looking into invest some money but I have no idea where to start! How it work and how u get your monet

  14. nazer baradaran says:

    i am an invester over seas and i can get up to 10% APR per year in some banks tax free from the origen .so you tell me how this compares to your rates .for example i get $95.00 us dollares for each $10000.00 dollares per month .now can any one beat that ?

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