Best High Yeild Savings Options

Best high yeild savings options

The 5 MOST PROFITABLE Savings Accounts of 2019

Best High Yield Savings Accounts – up to 5% APY

Here’s a list of the best high interest savings accounts. Get up to 5% APY with a rewards account or up to 2.5% on a basic account.

We don’t receive any sort of commission for any of these, and ALL banks are included in this list.

Contents

Best Basic Savings Rates

Leaving money in a regular bank account will usually get you a terrible interest rate, currently close to 0%.

Best high yeild savings options

With a little research, you can find accounts that offer competitive rates. These are all ordinary savings accounts and are FDIC insured up to $250,000. They do not have any requirements to earn these rates.

Here are the best options available, rated highest to lowest:

  • Customers Bank – 2.25% APY money market ($25,000 minimum; guaranteed through 6/30/20)
  • CFG Community – 2.15% high-yield money market (minimum $25,000 – can be opened online, but appears to need a phone conversation first)
  • BrioDirect – 2.10% savings (our review)
  • TotalDirectBank – 2.10% money market (balances between $5,000 and $500,000)
  • Quontic Bank – 2.05% APY money market (minimum $100,000)
  • HSBC Direct – 2.00% APY savings (our review)
  • Patriot Bank – 2.00% high yield money market; guaranteed through June 30, 2020 (our review)
  • First Foundation – 2.00% savings (minimum $1,000)
  • Memory Bank– 2.00% money market (our review)
  • UFB Direct – 2.00% money market on balances $25,000 and higher
  • Banesco – 1.97% APY savings (minimum $300)
  • Vio Bank – 1.95% APY savings account ($100 minimum) (our review)
  • WebBank – 1.95% APY savings ($1,000 minimum) (our review)
  • Customers Bank – 1.95% APY high yield savings account ($25,000 minimum)
  • Northpointe – 1.95% APY money market (minimum $25,000) (our review)
  • Varo – 1.92% APY savings
  • SFGI – 1.91% savings
  • Salem Five Direct – 1.91% APY Savings (our review)
  • Comenity – 1.90% APY savings
  • Simple – 1.90% APY in their ‘Protected Goals’ savings account ($10,000 minimum)
  • Northfield Bank – 1.90% APY platinum savings, max $224,999 (our review)
  • Rising Bank – 1.90% savings account (pays monthly)
  • My ebanc – 1.90% APY money market (minimum $100,000)
  • iGoBanking – 1.90% money market (minimum $25,000)
  • BankPurely – 1.90% APY money market (minimum $25,000)
  • Popular Direct – 1.90% APY savings (minimum $5,000) (our review)
  • TAB Bank – 1.9% savings
  • VirtualBank – 1.87% APY eMoney Market Account (our review)
  • CIT Bank – 1.85% APY money market account
  • Western State Bank – 1.85% APY money market (our review)
  • Earn.bank – 1.85% APY money market ($10,000 minimum to waive fee) (our review)
  • Citibank – 1.85% APY savings (not available in all states) (our review)
  • Live Oak Bank – 1.85% APY savings
  • CIBC – 1.85% savings (minimum $1,000)
  • CitizensAccess – 1.85% APY savings (minimum $5,000)
  • Bank5 Connect – 1.85% APY savings
  • Betterment – 1.83% saving account (our review)
  • MutualOne Bank – 1.81% APY savings
  • MySavingsDirect – 1.80% APY savings (no minimum) (our review)
  • Credit Karma Savings – 1.80% APY (our review)
  • Synchrony – 1.80% APY
  • FNBO Direct – 1.80% APY savings
  • Envision – 1.80% APY savings
  • Dollar Savings Direct – 1.80% APY savings
  • PurePoint – 1.80% APY savings account (minimum $10,000)
  • Robinhood – 1.80% APY account (our review)
  • Wealthfront – 1.78% APY cash account (our review)
  • Bank7 – 1.76% APY savings & money market account (our review)
  • All America Bank – 1.75% APY on balances up to $50,000 with money market checking (our review)
  • Red Neck Bank – 1.75% APY money market on balances up to $50,000 (our review)
  • Sallie Mae – 1.75% APY money market
  • Investors Bank – 1.75% money market (our review)
  • E*Trade Bank – 1.75% premium savings
  • PNC – 1.75% savings account (excludes states with branches) (our review)
  • Sallie Mae – 1.70% APY savings
  • Barclays – 1.70% APY savings
  • Capital One 360 – 1.70% APY savings
  • Discover – 1.70% APY savings (1.76% option here) (our review)
  • Marcus by Goldman Sachs – 1.70% APY savings
  • PenFed – 1.70% APY premium savings
  • USAlliance CU – 1.70% savings (note: $5 withdrawal fee)
  • American Express – 1.70% APY savings account
  • Alliant Credit Union– 1.65% APY
  • Radius Bank – 1.65% APY savings (minimum $25,000)
  • Ally – 1.60% APY
  • SoFi – 1.60% checking/savings account (our review)
  • Personal Capital  – 1.55% APY cash account (our review)
  • BBVA – 1.50% APY money market ($10,000 minimum; our review)
  • MidFirst Direct – 1.50% APY savings
  • YieldStreet – 1.45% APY wallet
  • Empower Banking – 1.40% APY savings (our review)
  • Memory Bank – .90% APY checking (this is the only high-interest checking option)

Other Basic Options

  • Purepoint – 1.90% 12-month no penalty CD ($10,000 minimum)
  • Marcus by Goldman Sachs – 1.90% 7-month no penalty CD ($500 minimum)
  • Marcus by Goldman Sachs – 2.00% 11-month no penalty CD ($500 minimum)
  • Ally – 1.85% no penalty 11-month CD ($25,000 minimum) (our review)
  • My ebanc – 1.90% 11-month no-penalty CD ($10,000 minimum); 2.00% rate for $100k+
  • CIT Bank – 1.80% 11-month no-penalty CD ($1,000 minimum)
  • [CA, CT, GA, ME, MD, MA, NJ, NY, PA, RI, TX, VA, WA] Unitedbank – 2.50% APY money market (our review)
  • CommunityWide – 2.15% APY savings (note: funds are locked in for 3 months at a time)
  • [NY/NJ] Northfield Bank – 1.90% on their Platinum savings online account [$2,500 – $100k]
  • [NJ] AmboyDirect – 2.10% savings on up to $50,000 (guaranteed for 12 months)
  • T-Mobile Money checking – T-Mobile customers earn 4% APY on balances up to $3,000

All of these rates will fluctuate over time, and we’re constantly updating this list.

There is an advantage to a bank who has a proven track record of giving good interest rates since some of the top rates might be ‘bait-and-switch’ soon to be lowered.

American Express National Bank Personal Savings

Banks like Ally, Alliant, Discover, American Express and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate.

Another thing to keep in mind is that while most banks automatically increase your rate as interest rates increase, some don’t.

Best high yeild savings options

We wrote data points on which do and which don’t here. Keep that in mind when choosing a bank.

Most of these are savings accounts, though there is the SoFi account with check-writing capabilities with a nice interest rate, and the Memory Bank checking account with an okay interest rate. We wrote about these and additional options for getting a high yield on your checking account in this post.

Best CD Rates

Nationwide CD Offers:

Other CD Offers:

Best Business Savings Rates

Mega High-Interest (Nationwide)

Aside from basic accounts offering competitive interest rates, there are ultra high-yield options which are more involved and take time and patience to deal with.

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Bear in mind, all of the best options have velocity limits, sometimes it’s $5k, $10k, $15k, or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that.

Penny stocks or cryptocurrency

Someone who is impatient or doesn’t have spare time would best use a standard high-interest savings account options and forget about the velocity-limited accounts.

Below you’ll find all mega high interest accounts which are available nationwide, and in the next segment we list the regional options.

  • Elements Financial 3% APY Rewards Checking on up to $20,000 with easy requirements – Nationwide
  • TAB Bank 4% APY On Balances Up To $50,000 – Direct Deposit Not Required
  • Orion Federal Credit Union Premium Checking 3% APY On Balances Up To $15,000 (DD Not Required)
  • Heritage Bank 3.03% APY Rewards Checking Account on up to $25,000 – Available Nationwide
  • Fitness Bank 2.30% APY, no limit.

    Requires an average of 12,500+ steps per day

  • Consumer’s Credit Union 5.09% APY On Up To $10,000 Rewards Checking
  • T-Mobile Money Review – Earn 4% APY On Balances Up To $3,000 (Requires T-Mobile Account)
  • One American Bank – 3.5% APY Rewards Checking Account On Up To $10,000 [No Direct Deposit Required]
  • Evansville Teachers Federal Credit Union: Vertical Dividend 3.30% APY Account On Balances Up To $20,000
  • Great Lakes Credit Union (GLCU) – 3% Rewards Checking Account Review, up to $10,000
  • Partner Colorado Credit Union 3% APY On Balances Up To $10,000
  • Signature FCU Rewards Checking 3% APY on up to $20,000 [Nationwide]
  • MarketUSA Federal Credit Union 3% APY Rewards Checking – Available Nationwide
  • Lake Michigan Credit Union: 3% Reward Checking Account On Up To $15,000
  • Georgia Banking Company (GBC) 2.95% APY Checking Account On Balances Up To $25,000 (Direct Deposit Not Required)
  • Industrial Bank 2.5% APY Checking Account on up to $15,000 
  • Mango Prepaid 6% Interest Rate on up to $2,500
  • Blue Federal Credit Union 2% – 4% APY on up to $15,000

More Restrictive Options:

Mega High-Interest (Regional)

Below are the regional accounts we’ve reviewed on the site.

There are many more as well.

  • [NH, ME] Northeast Credit Union 4% Checking on up to $15,000
  • [Iowa, Nebraska, Minnesota, South Dakota] Iowa State Bank 3.25% APY on up to $25k
  • [MO, AR, OK, KS, IA, NE, IL, KY, TN] Old Missouri Bank 3.01% APY Rewards Checking Account On Balances Up To $25,000
  • [MD, DE] Destinations Credit Union: 3% Reward Checking Account, Up to $10,000
  • [Wisconsin, Illinois] Landmark Credit Union 7.50% APY High Rate  – Balances Of Up To $500
  • [IN, MI, OH, IL, WI] New Buffalo Savings Bank: 2.27% APY On Balances Up To $35,000 & $50 Amazon Giftcard
  • [VA, NC] Beacon Credit Union 5.05% APY On Balances Up To $2,500
  • [WY & NE] Meridian Trust Federal Credit Union 4% APY On Balances Up To $15,000
  • [IL, IA only] South East National Bank 3% APY On Balances Up o $10,000
  • [AR & MS only] First Financial Bank 4.07% APY on Balances Up To $15,000 – Direct Deposit Not Required
  • [Parts of AZ, CA] Meriwest Credit Union 3.50% savings account on up to $5k [must be opened within 30 days of joining]
  • [NY/NJ] Kearny Bank 3.05% APY On Balances Up To $25,000 – Direct Deposit Not Required
  • [MO, IL only] Scott Credit Union – Up To 4.05% APY On Balances Up To $25,000
  • [MN, PA & MI] Genisys Credit Union 4.06% APY High Yield Checking Account – Up To $7,500
  • [TX, NV, VA, MI] InTouch Credit Union High Yield Checking Account – 3.56% APY On Balances Up To $30,000
  • [TX, MS, & LA] Origin Bank Performance Checking: 4% APY On Balances Up To $40,000 – Direct Deposit Not Required
  • [TN & KY only] First Advantage Bank 4% APY Rewards Checking On Balances Up To $10,000
  • [IL, IN, MI] Centier Bank 4.00% Savings on up to $50,000 With 50 Debit Card Purchases
  • In Indiana: Interra Credit Union 5% APY On Balances Up To $10,000
  • In parts of New York: Solvay Bank 4% APY Checking on Balances up to $15,000
  • In Kansas: State Security Bank 3% APY On Balances Up To $10,000 – Direct Deposit Not Required
  • In El Paso, Texas only: Evolve FCU Rewards ePriority Checking Account – 5.12% APY On Balances Up To $10,000
  • In Virginia only (?): MainStreet Bank – 3% APY Rewards Checking – Direct Deposit Not Required
  • In Alabama: Guardian Credit Union 4% APY On Balances Up To $30,000 Ultimate Checking Account
  • In Missouri: Ozark Bank 5% APY Checking on Balances up to $10,000
  • In Nevada: Greater Nevada Credit Union – Aspire Checking 3% APY On Balances Up To $25,000
  • In parts of Georgia: MidSouth FCU 5% APY Checking Account on up to $10,000
  • In Iowa Premier Bank 5% APY Checking on Balances up to $5,000
  • In Minnesota: St Paul Federal Credit Union 4.99% On Balances Up To $20,000
  • In Illinois: Hometown Community Banks 5.01% APY Checking Account (10 Debit Card Transactions Required)
  • Parts of Illinois: Crossroads Bank 3.50% APY checking on up to $15,000
  • In Missouri: Legacy Bank & Trust i-Profit 4% APY on Up To $10,000 
  • In Wyoming: WyHy FCU 4% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required
  • In California: Patelco Reverse Tiered Money Market Account – Up To 3% APY
  • In Ohio: Bridge Credit Union 10% APY Account On Balances Up To $1,500 (Lots Of Monthly Requirements)
  • In Nebraska: Liberty First Credit Union 3% APY On Balances Up To $30,000
  • In South Dakota: Reliabank Ultimate Checking – 3.51% APY On Balances Up To $25,000 – Direct Deposit Not Required
  • In Texas: Affiliated Bank 4.05% APY On Balances Up To $50,000

Best high yeild savings options