Top 5 High-Yield Online Savings Accounts for Better Returns

Top 5 High-Interest Online Savings Accounts for Maximizing Your Savings

Choosing the right online savings account can significantly boost your earnings through competitive interest rates. These accounts, often offered by digital banks, provide higher APYs due to lower overhead costs compared to traditional brick-and-mortar banks.

Discover Bank Online Savings
Discover Bank provides an APY of 2.10% with a user-friendly platform for easy account setup. While they have only one physical branch in Delaware, customer support is available 24/7. New customers can receive a $150 or $200 bonus upon account opening.

Account holders do not pay monthly fees but are expected to deposit around $15,000 or $25,000 to open the account.

American Express® Personal Savings
This trusted credit card issuer also offers a high-yield savings option with a 2.10% APY. No minimum balance or monthly fees are required, but the account lacks ATM access and check-writing services.

Barclays Online Savings
With an APY of 2.20%, Barclays provides an account with no monthly fees or minimum deposit requirements. Opening an account is straightforward online, and customer support is available via phone.

Despite its attractive interest rate, Barclays does not provide checking accounts or ATM access.

PurePoint Online Savings
Offering an APY around 2.35%, this account requires a minimum opening deposit of $10,000. It features no monthly fees, and its digital tools support high-yield savings effectively.

Citizens Access Online Savings
The digital division of Citizens Bank offers competitive rates, with an opening minimum of $5,000. While higher than some competitors, there are no ongoing fees. Maintaining the minimum balance is crucial to retain the higher APY, which can decrease if the balance falls below $5,000.