Best Online Banks For Savings

Best Online Banks For Savings Rating: 4,5/5 2879 reviews

TIAA Bank is one of the longest standing online banks and consistently has some of the best introductory interest rates. Currently their money market account is offering 2.15% for the first year. This gives them one of the strongest savings rates in the industry. Here’s what you get with a TIAA online high-yield savings account.


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Best Online Banks For Savings Accounts

NameAssets (1000s)
Citi Accelerate$1,648,667,000
PNC Bank$457,454,159
Capital One 360$360,261,172
HSBC Direct$202,542,973
Citizens Access$179,163,146
Ally Bank$174,591,000
Bank of Montreal Harris$151,532,887
Purepoint MUFG Union$132,479,115
Discover Bank$122,784,439
USAA Federal Savings Bank$103,029,691
Banco Bilbao Vizcaya Argenteria$102,042,302
Synchrony Bank$85,130,000
Zions Bank$78,356,851
OneWest Bank, a division of CIT Bank$55,419,466

Best Online Banks For Checking And Savings


Best Online Banks For Savings Account

  1. Ally Bank’s interest rate on savings account deposits is consistently among the highest for online banks, but at any given point in time it’s not necessarily the highest rate. If maxing out APY is your top priority, it pays to shop around. Some online banks even offer only savings accounts which means their savings rates tend to be higher.
  2. The best savings yield as of March 2020 is the 6.17 percent introductory APY (good for up to $1,000) from Digital Federal Credit Union. Ally Bank offers 1.75 percent on an 18-month certificate of.
  3. The top online banks took this disadvantage and turned it into a positive, channeling their cost savings into enhanced interest rates, products and services for banking customers. The best online banks now offer a full range of personal financial products and banking services, including checking and savings accounts, money market accounts.

Best Online Banks Canada Savings

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