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 (PerkStreet, 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)

Everbank

Features:

  • 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!

PerkStreet Financial (Best Rewards Checking Account)

perkstreet

Read our full review on PerkStreet Financial – Best Online Checking Account.

Features:

  • FDIC-insured Deposits up to $250,000
  • Free Online Banking and Bill Pay
  • No annual fee and no monthly fee as long as you use your account
  • 2% cash back for online purchases at: Amazon.com®, iTunes®, Target.com, Apple.com, Walmart.com and Bestbuy.com. Online purchase bonus perks limited to $2,500 spent each calendar year.
  • 2% cash back in-store, when you have an account balance of $5,000 or more at: Walmart, Target®, Best Buy® & Apple® stores. Offline purchase bonus perks limited to $2,500 spent each calendar year.
  • 1% unlimited cash back for all non-PIN debit card purchases.
  • 25% Rewards at leading retailers selected weekly through the new “PowerPerks 2.0″ program
  • Unlimited amount on total rewards earned; the average American family earns $600/year in rewards!
  • 24/7 customer support
  • Easy electronic transfers between bank accounts

Open a PerkStreet Account today!

Ally Bank (Best CD Rates)

ally

Features:

  • 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.

In accordance with FTC guidelines, we disclose that we have a financial relationship with companies mentioned in this website. This may include receiving access to free products and services for product and service reviews and giveaways.

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