Make More Money By Opening One of These High-Yield Savings Accounts

Could your savings be doing more for you? If your hard-earned money is sitting in a regular savings account, it definitely could.

A regular savings account earns interest, but only a tiny bit – and a high-yield savings account can turn your savings into more money. With higher interest rates well above the national average and plenty of other financial perks, opening a high-yield savings account is a smart choice.

If you’re wondering which high-yield savings accounts are among the best, it’s important to know what banks are offering. Check out these high-yield accounts that offer excellent interest and a safe place to grow your money.

Marcus by Goldman Sachs

Opening Deposit: $0

Interest Rate: 2.25% APY

Why It’s a Great Account

  • No fees
  • No minimum deposit required to open a savings account
  • Entirely online bank
  • Interest rate is four times the current national average
  • Can start earning interest on any balance – and there’s no minimum required
  • Can easily link bank accounts (even from other banks) for easy transfers
  • 24/7 online access and a U.S.-based customer service team that’s open 7 days a week

Citizens Access Online Savings Account

Opening Deposit: $5,000

Interest Rate: 2.35% APY

Why It’s a Great Account

  • No monthly fees
  • An online-only bank – cashless, paperless, and no physical branches
  • Easy check deposits via smartphone app
  • Can transfer funds online to and from any bank
  • Can open an account in just 5 minutes
  • If your balance drops below $5,000, you’ll still earn interest (just at a lower APY)

HSBC Direct Savings

Opening Deposit: $1

Interest Rate: 2.30% APY

Why It’s a Great Account

  • No monthly maintenance fees
  • Mobile check deposit through the HSBC Mobile Banking App
  • Quick and easy online transfers between banks and accounts
  • 24/7 online and mobile banking, with Live Chat customer service
  • Access to HSBC’s online management and savings tools to set custom goals, track income, and create alerts
  • International access and coverage in 66 countries

Barclays Online Savings

Opening Deposit: $0

Interest Rate: 2.20% APY

Why It’s a Great Account

  • No monthly maintenance fees
  • No minimum opening balance
  • Secure access to your funds 24/7
  • Easy online transfers to and from other banks
  • Direct deposit is available
  • Can use Barclays’ online tools to set savings goals and use the online saving assistant

Discover Online Savings Account

Opening Deposit: $0

Interest Rate: 2.10% APY

Why It’s a Great Account

  • No monthly fees
  • No minimum balance requirement
  • Interest compounds daily and is paid right into your account monthly
  • Free bank checks (if you’d like them)
  • Easy mobile check deposit with the Discover mobile app
  • Easy online transfers to and from other banks
  • 24/7 customer service available via phone
  • Can open an account in just minutes

PurePoint Online Savings

Opening Deposit: $10,000 minimum

Interest Rate: 2.35% APY

Why It’s a Great Account

  • Market-leading interest rate for savings accounts
  • No monthly account fees
  • Easily move money with bank transfers, mobile deposits, wire transfers, and checks
  • No minimum balance required to earn interest
  • Access to PurePoint Financial Centers, which are physical locations where you can meet one-on-one with savings professionals for advice

Find a High-Yield Savings Account That Will Make You Money

One of the best – and most important – reasons to consider opening a high-yield savings account is the interest you’ll earn. These unique savings accounts are designed to help you earn more money with interest rates far higher than the average savings bank account. And that added interest can add up to hundreds, or possibly thousands, of dollars each year.

Imagine what a few extra hundred or thousand dollars could do for your savings goals! All you need to do to get that money is open a high-yield savings account. And you can do that online in just minutes.

But before you open a high-yield savings account, it’s important to do your homework. You need to know what the current interest rate is, and which banks are offering the highest interest. That way, you’ll make as much money as possible.

You should also compare different banks and savings accounts, comparing what they offer and any fees they have. By searching online, you can find many different high-yield account options – and you can compare them right from your computer.

Cast Your Vote

  +4
  -0
 
-0