Best Online Savings Accounts

These online savings accounts are worth taking a look at.

You might already know that online banks offer perks that aren’t available at your local brick-and-mortar branch. In fact, an online savings account can help you earn more interest and make managing your savings easier. Perhaps that’s why virtual banking is on the rise. A 2017 Accenture survey of North American consumers found that 11 percent had switched to an online bank in the past year.

Here’s a closer look at the best online savings accounts available now:

Best Online Savings Accounts
BankOnline Savings AccountAnnual Percentage Yield (APY)Monthly FeeCustomer ServiceMobile App
CIT BankPremier High Yield Savings Account2.20%$0Phone/Online form/EmailYes
Synchrony BankHigh Yield Savings Account2.25%$0Phone/ChatYes
BarclaysOnline Savings Account2.20%$0PhoneYes
Ally BankOnline Savings Account1.90%$024/7 phone/Chat/EmailYes
American Express National Bank, Member FDICPersonal Savings1.90%$0PhoneNo
DiscoverOnline Savings Account2.00%$0PhoneYes
FNBO DirectOnline Savings Account2.00%$0Phone/EmailYes
iGOBankingHigh Interest Savings Account1.90%$0Phone/Online formYes
Bank5 ConnectHigh-Interest Savings Account2.05%$0Phone/Online form/ChatYes
Capital One360 Savings1.00%$0Phone/In-person/ChatYes
Ally Bank, Barclays Bank Delaware, CIT Bank,
Capital One, Discover, FNBO and Synchrony rates are accurate as of today.
American Express National Bank is accurate as of Jan. 9, 2019. All other rates accurate as of Sept. 6, 2018.

CIT Bank Premier High Yield Savings Account

  • Interest rate: 2.20% Annual Percentage Yield
  • Fees: $0

Reach your savings goals faster by depositing your savings into a high-yield savings account. Boasting one of the best interest rates, CIT Bank might be the best high-interest savings account for you, and you can open one with a $100 minimum deposit. You’ll have access to free online banking services, and interest is compounded daily to maximize your return on your balance.

Synchrony Bank High Yield Savings Account

  • Interest rate: 2.25% APY
  • Fees: $0

Synchrony Bank caters to customers who want easy, 24/7 access to online banking features. There’s no minimum balance requirement or service fee with this account, and you’ll build up your savings at rates higher than the national average.

Related: 10 Best Savings Accounts of 2018

Barclays Online Savings Account

  • Interest rate: 2.20% APY
  • Fees: $0

With Barclays‘ online savings account, you can make online transfers to and from other banks with digital banking services and use the Savings Assistant tool to reach your savings goals. With no minimum balances to open the account or monthly maintenance fees to worry about, you can focus on making deposits to earn high interest rates on your balance.

Ally Bank Online Savings Account

  • Interest rate: 1.90% APY
  • Fees: $0

You’ll earn the same interest rate on your savings account no matter what tier you fall under with Ally Bank. Ally’s online banking services include Ally eCheck Deposit for remote check deposits and easy transfers between Ally Bank and accounts at other banks. Interest is compounded daily, and there are no monthly maintenance fees.

American Express® Personal Savings

  • Interest rate: 1.90% Annual Percentage Yield
  • Fees: $0

American Express National Bank, Member FDIC offers a savings account option with competitive interest rates of 1.90% Annual Percentage Yield as of Jan. 9, 2019. You’ll earn daily interest on your balance and can set up recurring bank transfers to manage your money. You can also take advantage of 24/7 online banking services, with no monthly fees or minimum balances.

Related: 15 Best Mobile Banking Apps and Services

Discover Online Savings Account

  • Interest rate: 2.00% APY
  • Fees: $0

You won’t be charged a monthly maintenance or minimum balance fee with your Discover Bank online savings account. Discover provides official bank checks with expedited delivery at no extra charge. Discover also boasts a higher-than-average interest rate on your savings balance, with interest compounded daily and paid out monthly. Plus, you’ll have access to your bank account 24/7 through the online banking platform.

FNBO Direct Online Savings Account

  • Interest rate: 2.00% APY
  • Fees: $0

With interest rates exceeding the national average, FNBO Direct provides a convenient option for managing your savings account online. You can access your account from anywhere and easily transfer money between accounts. Your account is linked to Popmoney for secure money transfers to and from friends, colleagues or clients.

Related: The 30 Best Banks of 2018

iGOBanking High Interest Savings Account

  • Interest rate: 1.90% APY
  • Fees: $0

If you’re looking for convenient online banking features and competitive interest rates, iGOBanking might be your best bet for a high-yield savings account. You can access your account at any time and get questions answered by calling a toll-free number. There are no monthly maintenance charges, banking fees or minimum-balance requirements with this account.

Bank5 Connect High-Interest Savings Account

  • Interest rate: 2.05% APY
  • Fees: $0

You’ll have access to free online banking services and receive free eStatements with the high-interest savings account from Bank5 Connect. The bank also offers free mobile banking services. If you have a checking account with Bank5 Connect, your savings account can cover overdrafts. As long as your balance is at least $100, you’ll earn the highest interest rate on your savings.

Capital One 360 Savings

  • Interest rate: 1.00% APY
  • Fees: $0

Get a competitive rate on this no-fee savings account from Capital One. You’ll have access to online banking services and can open multiple accounts to organize your savings goals. You also have the option of automating your savings by scheduling transfers to your account. There’s no minimum balance requirement, and you can deposit checks from a smartphone or tablet using a mobile app.

Click through to learn about the best savings account promotions available now.

More on Banking and Savings Accounts

Gabrielle Olya contributed to the reporting for this article.

Ally Bank, Barclays Bank Delaware, CIT Bank, Capital One, Discover, FNBO and Synchrony rates accurate as of today. All other rates accurate as of Sept. 6, 2018. American Express National Bank is accurate as of Jan. 9, 2019.

Methodology: GOBankingRates.com identified the best online savings accounts based on interest rates, monthly fees, customer service options, mobile banking and online banking offerings. All fees and rates are subject to change at the credit card issuers’ discretion. Some offers might no longer be available on the credit card issuers’ websites, depending on how you access the web page.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article.

Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been endorsed by American Express.