Not all banks are created equal. In the world of high-yield savings accounts, online banks outshine traditional brick-and-mortar banks on both rates and fees. It’s not even a close call.
The ideal savings account has a higher than average interest rate (the national average is 0.06% as of the week of June 15, 2020, according to the FDIC), reliable customer service and low or no fees. Some accounts can even let you skip a minimum balance requirement or minimum deposit amount.
Our survey of the best online savings accounts found that online banks—that is, banks with no physical branches—offer the best deals. The banks below all have higher interest rates than the national average. Our survey focused on banks available nationally, not local or community banks.
More importantly, each bank below is FDIC insured. If your bank fails, the government will typically reimburse you for up to $250,000 per depositor, for each account ownership category.
When shopping for the best savings account, make sure you pay close attention to the minimum deposit requirement, monthly maintenance fees, minimum balance requirement and the annual percentage yield, to find the best option for your financial goals.
Below are some of the best savings accounts at online and national banks, with a quick review of each bank.
In This Post
- Barclays US 1
- barclays
- barclays
- Barclays
- barclays
- CIT Bank
- PurePoint Financial 1
- PurePoint Financial 2
- PurePoint Financial 3
- PurePoint Financial 4
- PurePoint Financial 5
- PurePoint Financial 6
- PurePoint Financial 7
- PurePoint Financial 8
- PurePoint Financial 9
- PurePoint Financial 9
- PurePoint Financial 10
- PurePoint Financial 11
- PurePoint Financial 12
- PurePoint Financial 14
Barclays US 1
- Minimum deposit requirement: $0
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: 1.00%
The high interest rate of Barclays Online Savings account is also accompanied with online transfers, direct deposit and 24/7 access to your money. Opening an account requires no minimum deposit and no monthly maintenance fees. Customer service is available by phone and mail.
barclays
- Minimum deposit requirement: $0
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: 1.00%
The high interest rate of Barclays Online Savings account is also accompanied with online transfers, direct deposit and 24/7 access to your money. Opening an account requires no minimum deposit and no monthly maintenance fees. Customer service is available by phone and mail.
barclays
- Minimum deposit requirement: $0
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: 1.00%
The high interest rate of Barclays Online Savings account is also accompanied with online transfers, direct deposit and 24/7 access to your money. Opening an account requires no minimum deposit and no monthly maintenance fees. Customer service is available by phone and mail.
Barclays
- Minimum deposit requirement: $0
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: 1.00%
The high interest rate of Barclays Online Savings account is also accompanied with online transfers, direct deposit and 24/7 access to your money. Opening an account requires no minimum deposit and no monthly maintenance fees. Customer service is available by phone and mail.
barclays
- Minimum deposit requirement: $0
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: 1.00%
The high interest rate of Barclays Online Savings account is also accompanied with online transfers, direct deposit and 24/7 access to your money. Opening an account requires no minimum deposit and no monthly maintenance fees. Customer service is available by phone and mail.
CIT Bank
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 1
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 2
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 3
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 4
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 5
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 6
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 7
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 8
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 9
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 9
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 10
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 11
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 12
- Minimum deposit requirement: See below
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: Up to 1.15%
The CIT Savings Builder Account does come with some requirements. You must maintain a $25,000 balance or deposit $100 per month. The rewards, however, may just be worth it. The CIT Savings Builder Account pays one of the highest rates available today.
PurePoint Financial 14
- Minimum deposit requirement: $10,000
- Monthly maintenance fee: $0
- Minimum balance required to avoid fee: $0
- Annual percentage yield: 1.01%
There is a $10,000 minimum deposit required to open an account. PurePoint Financial, however, offers one of the more competitive APYs available today.
