Best high-interest savings accounts for February 2019 |

Best high-interest savings accounts

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Reach your financial goals sooner by finding the best high-interest savings accounts available

You’ve worked hard on building a rainy day or emergency fund. The best way to maintain easy access to that cash with no-risk growth is to place it in a high-interest savings account. We’ve got you covered with the best high-yield savings accounts around.

Our top pick: CIT Bank Savings Builder High Yield Savings Account

  • Interest compounded daily
  • 24/7 online account access
  • FDIC insured

Our top pick: CIT Bank Savings Builder High Yield Savings Account

A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.

  • APY: 2.45% with a minimum balance of $25,000 or a monthly deposit of $100+
  • APY: 1.17% with a balance below $25,000 and monthly deposit of less than $100
  • Monthly fee: None

Compare some of the best high-interest savings accounts

Name Product Fee Minimum deposit to open Minimum balance to earn interest APY
or set up a direct deposit of $100+ each month
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
Enjoy no monthly fees and a competitive APY with this online-only savings account.
Earn one of the highest interest rates without the fees.
$15 per month
(can be waived)
Earn one of the highest annual percentage yields (APYs) if you have at least $10,000 in savings, and access your money by ATM, check or bill pay.
Reach your savings goals with a CIT Bank Money Market account. $100 minimum opening deposit.
MySavings Account
MySavings Account
My Savings Direct offers flexibility, freedom and security in personal banking.

Compare up to 4 providers

CIT Bank Savings Builder High Yield Savings Account

Variable 2.45% APY

If you can commit to a direct deposit of $100 per month in order to qualify, this savings account has a super-high interest rate. You can also get the top rate with a $25,000 balance.

American Express Personal Savings High Yield Savings Account

Variable 2.1% APY

Enjoy no monthly fees or minimums and a competitive annual percentage yield (APY) with this online-only savings account from one of the world’s most recognizable brands.

Synchrony High Yield Savings Account

Variable 2.25% APY

You won’t need to hold a minimum balance or deal with monthly service fees when you save with Synchrony. Mobile check deposit is also available through Synchrony’s iOS and Android apps.

Marcus by Goldman Sachs Online Savings account

Variable 2.25% APY

Don’t worry if you can’t stash any money right away — with a GS savings account, there’s no minimum deposit. You’ll also have daily compounded interest to maximize the growth of your savings.

Barclays Online Savings account

Variable 2.2% APY

You won’t find any monthly maintenance fees or minimum balances to open with Barclay. There’s also 24-hour access to your account and funds — and a savings assistant to help you meet your goals.

Ally Bank Online Savings Account

Variable 2.2% APY

Enjoy no monthly maintenance fees and domestic ATM withdrawal fees along with your high APY. You can also deposit funds remotely using Ally’s eCheck deposit system. Interest is compounded daily to help you grow your savings quickly.

Discover Online Savings Account

Variable 2.1% APY

Discover boasts quite a few $0 fees that you might run into with other savings accounts. Monthly maintenance, minimum balance, official bank check, expedited delivery for those bank checks or incoming wire transfers won’t cost you a thing with Discover. You also don’t need to make a deposit to open the account.

Alliant Credit Union High-Rate Savings account

Variable 2.1% APY

With Alliant, there’s a $5 fee to open a savings account. But the good news is that they’ll pay it for you. You’ll need an average daily balance of $100 in the account to actually start earning interest, but you won’t have to worry about monthly fees eating away at your balance. And tools are available to help you keep on the path to building your savings.

BankPurely SavingPurely account

Variable 1.9% APY

If you’re looking for a savings account with a heart, BankPurely might be the answer. For every savings account opened, a tree is planted through Plant-It 2020. You’ll only need $1 to open the account, and there’s no minimum balance required to avoid a monthly fee.

Capital One 360 Savings account

Variable 1% APY

Offering a bit lower APY than its competitors, Capital One 360 has quite a few features, including apps for iPhone, Android, Apple Watch and iPad. You’re also free to open multiple savings accounts, set up savings goals and direct deposit checks remotely.

How to get the savings account you need, and the interest rate you want

It can take time to compare your savings options, but preparing for the future can be more than worth the time. Each of these accounts have benefits and drawbacks, so you’ll need to find one that best fits your situation. Take control of your financial future, even if it’s just a few dollars at a time.

Should I switch savings accounts?

Your balance0.01%/year1%/year2%/year3%/yearFirst-year switch benefit (3% vs. 0.01%)

This table shows interest that is calculated daily and paid monthly. It doesn’t take into account any other deposits made into your account — if you make additional deposits, you’ll accumulate more interest.

Not only can you earn money by switching to a high-interest savings account, but you can also save money. If you have money sitting in a low- or no-interest everyday checking account that charges banking and transaction fees, you may actually be losing money.

With so many different high-interest savings accounts available online, there’s no reason to pay fees. The more you deposit into a high-yield savings account, the more interest you’ll earn on your money. Learn more about how to compare these accounts in our guide to high-interest savings accounts.

What to watch out for when using your high-yield savings account

Choose the high-interest savings account that best serves your needs to help avoid the following scenarios:

Losing out on earning interest because you don’t maintain a minimum daily balance.

Variable interest rates could mean that you lose out when the federal interest rate decreases.

  • Banks can lower their rates for a few reasons, and if your account has a variable interest rate, you may lose out if the federal rate drops. If the rate on your account has changed and you’re not sure why, contact the bank.

Adrienne Fuller

Adrienne Fuller leads the publishing team at She has one goal: to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. When she's not helping folks save money, she's hiking with her two Catahoulas around her home in San Diego.

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