Editor's note - You can trust the integrity of our balanced, independent financial advice. We may, however, receive compensation from the issuers of some products mentioned in this article. Opinions are the author's alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser.
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 1.75% APY on their Savings Builder Account. $100 minimum deposit is required with no monthly service fee. And for a limited time, earn up to a $200 cash bonus!

Advertising DisclosureThe 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

  • CIBC US: Earn 1.85% APY with no minimum balance
  • CIT Bank: Earn 1.75% APY with just a $100 deposit required to open an account. (Savings Builder)
  • Barclays Bank: Earn 1.70% APY with no monthly maintenance fee and no minimum balance to open.
  • Citi: Earn 1.85% APY with no minimum deposit required.
  • American Express National Bank Member FDIC: Earn 1.70% (as of 12.12.2019) Annual Percentage Yield 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 1.70% APY (as of 12.12.2019) for it’s online savings account product.  American Express has NO monthly minimum or deposit requirement and the interest rate is paid on balances of at least $1.  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.

CIBC US: One of the best savings account rates you can find today comes from CIBC US and their Agility Savings Account.  The current APY is 1.85% and there are no monthly maintenance fees.

There is a $1,000 minimum deposit to open but no minimum balance requirement to earn the interest rate.

CIT BankCIT Bank sports one of the highest savings account rates available at 1.75% APY with their new Savings Builder account.  To earn the 1.75% 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.

Barclays offers one of the highest savings rates available today at 1.70%, topping out at 18x 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.

Citi offers their Accelerate Savings account which is currently yielding a 1.85% 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.

Capital One 360 is the bank a lot of my family uses. Both of my teenage children have Money accounts, and my wife and I have checking 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.

Discover Bank: Discover Bank offers a very competitive savings account rate at 1.60% 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 1.75% 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

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Article comments

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?

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.

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.

David says:

Netspend offers 5% APY on their goal setting savings accounts, although they’re most known for their prepaid card, thought I’d just put that out there.

Sarah says:

But only for the first $1000, and it requires a prepaid card that has a lot of fees attached.

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.

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.

joanoark06 says:

Your right! Here it is in 2019, the Fed cut rates for the second time this year, and I’ve watched my savings accounts that I have a few of, fall from 2.20% and some above to 1.90% to even below! It’s really sad! And you wonder why Americans can’t save, but hey, the rates are FANTASTIC for BORROWING money, or in other words, getting yourself in DEBT!! Burns me up, and our “president”, says, he wishes that the Fed would cut more!! That burns me up too!

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!

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.

HGI says:

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

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?

joanofark06 says:

Since the Fed cut rates twice now, in 2019, many saving accounts have cut THEIR rates. American Express is now below 2%.

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!!

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.

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.

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

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 ?

Tom says:

Sallie Mae Bank MMAs now yield 1.30% APY! Do you ever look at bank safety ratings (like at BankRate, Weiss Ratings, Bauer Financial, Fitch)?


First off thank you for your wealth of knowledge and podcast. Since listening I have saved 50.00 a month on my cable, lowered my home insurance premium by 500.00, and saved over 200 on my auto insurance. Now I am looking at high yield savings accounts and see that CIT bank has 1.35% but notice you don’t have that as a recommendation. Also Discover Bank offers 1.15% with a 250.00 cash offer if you deposit 20,000. I an thinking of putting 20,000 in CIT for the higher interest and 20,000 in the discover for the cash offer even though the rate is 1.15%. What are your thoughts on that? This is our emergency fund money that is currently making nothing sitting in BofA Money Market account.

Angela says:

I was wondering why CIT is not on your list as they are FDIC insured and currently paying 1.35% APY on their savings account

Rob Berger says:

You’re right! They should be. I’ll add them today.

Babs says:

If FNBO pays 1.40, and you bank with them, why is it not recommended?

Rob Berger says:

While I don’t bank with FNBO, I think it’s a good option and it is included in our list.

Geoff says:

You missed a Big One….CIBC pays 2.16% for regular savings….oh well, but thanks for the info…

Mary says:

Hi Rob, how do you feel about the Marcus account with Goldman Sachs? The APY is 2.25% with no minimum fees.

Kevin Dean says:

Just as an update to this question. My wife and I had in the past followed who had the best APY and we’d move our money around according to who was leading. We’ve been with 1stsecurity for about 9 years or so and they’ve had the best APY. Yes, things have gone down quite a bit, but they are currently sitting at a 2.51% with a checking account of $50K or less. Savings accounts are typically much lower as they currently have theirs at 1.31%. I don’t know what the rules are here about posting links, but they can be found at 1stsecuritybank.com. We’d found them through Dave Ramsey a while back.

Rebecca says:

Kevin: They require 18 debit card purchases per month. Way too many!