Best Online Savings Accounts
51Online Banking
Many online savings banks now offer interest on savings and checking. When shopping for a new money services provider, be sure to check their history and policy on overdraft fees, atm withdrawal fees, returned check fees, monthly maintenance and low balance charges.
Some banking systems which are international, or which exist only online, pay your atm withdrawal charges. USAA is one of these. If you are prior service military, or currently active, check out USAA and save atm fees. At $2 to $5 each, atm fee savings will likely overshadow the financial benefit of earning interest.
Top Online Savings Interest Rates
Bank
| Account Type
| Interest Rate (APR)
| Required Opening Deposit ($)
|
|---|---|---|---|
CIT Bank
| Savings
| 1.05 %
| 25,000
|
Barclay's
| Savings
| 1.00 %
| 1
|
Discover Bank
| Savings
| .90 %
| 500
|
Colorado Federal Savings Bank
| Savings
| .85 %
| 2,500
|
ally Bank
| Checking/Savings
| .84 %
| 1
|
ING Direct
| Savings
| .80 %
| 1
|
Dollar Savings Direct
| Savings
| .75 %
| 1,000
|
American Express Bank, FSB
| Savings
| .75 %
| 1
|
Heartland Bank Direct
| Savings
| .70 %
| 500
|
FNBO Direct
| Savings
| .65 %
| 1
|
Resources
- Online savings account - ING DIRECT USA
Open an Orange Savings Account and learn more about online banking and savings with ING DIRECT. - Top Online Banks: Savings or Checking Accounts
A list of online banking interest rates, listed according to interest-rate & customer rating combined score.
Considerations in Choosing an Online Account
Some savings are placed into accounts so that it can be easily accessed. Money earmarked for long term investing (such as retirement funds) is invested according to risk comfort and age of the investor. A savings should still earn money, however. The rates offered fluctuate according to the demand for capital. As demand increases, banks offer higher rates to attract more money, so they can loan more to investors at higher interest rates.
