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: Earn 1.30% APY on an FDIC-insured savings account at .
Best Savings Account Deals
: Earn 1.30% APY with no monthly maintenance fees and no minimum balance to open.
: Earn 1.30% APY with no minimum balance.
Chase SavingsSM: Get a $150 bonus when you open a new Chase SavingsSM account, deposit a total of $10,000 or more in new money within 10 days & maintain a $10,000 balance for 90 days.
: Earn 1.35% APY with just a $100 deposit required to open an account.
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.
offers one of the highest savings rates available today at 1.30%, topping out at 12x 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.
Capital One 360 is the bank my whole family uses. Both of my teenage children have Money accounts, and my wife and I have checking and savings 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.
: This is the bank I use, and it is currently paying an APY of 1.25%. While it’s not the top rate, I’ve found the Ally website to be extremely easy to use. And the bank also offers an excellent lineup of CDs.
: Finally, Discover Bank offers a very competitive savings account rate at 1.20% APY. There is no minimum balance requirement to open an account. Interest is compounded daily, and there are no monthly fees.
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 for more information.
More High Yield Options