Best High Yield Savings Banks and Rates

The lure of online banks’ low fees, high interest rates, and great rewards have led to shift in how banking is being done these days. However, this shift has left many people wondering who to bank with, and luckily for consumers, there are a handful of online banks that are willing to fight for your business.

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If you've been loyal to your local small bank or credit union, or you're trapped at one of the large mega-banks, then take a few moments and see what you have been missing.

Recommended Banks

Below are the best online banks that I recommend and a couple of them are places that I personally have bank accounts with (EverBank and Ally, specifically).

When it comes to figuring out who to bank with, these banks pass the standards that I look for:

  • Quality customer service
  • Great rewards and high interest-bearing accounts
  • Ease of depositing money
  • Insured by the FDIC

EverBank (Best Savings & Money Market Accounts)



  • FDIC-insured Deposits up to $250,000
  • EverBank’s Yield Pledge┬« Promise: “We promise your rates will always be in the top 5% of competitive accounts at leading banks.”
  • Free Online Banking and Bill Pay
  • $1500 initial deposit minimum
  • Free ATMs
  • 24/7 customer support

If you’re interested in high interest rates then you’re going to be hard-pressed to find a better offering than EverBank!
Open an EverBank Account today!

Ally Bank (Best CD Rates)



  • Interest-earning Checking Accounts
  • No annual or monthly fees
  • Free Online Bill Pay
  • Great interest rates on CDs and Savings Accounts
  • FDIC-insured
  • No minimum deposits

Open an Ally Account today!

Disclaimer and Stuff

The articles are written by personal finance enthusiasts (not certified professionals) based on their personal experience. What works for them may or may not work for you, and you should always consult a financial advisor before making important financial decisions.

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