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Savings Accounts
Checking Accounts
Business Checking
1
Best for Large Deposits
SoFi Checking and Savings
Earn up to 4.30% APY with direct depositThe savings account to help you reach your financial goals
- Limited time: +0.70% boost to 4.30% for up to 6 months on new accounts with eligible direct deposit. Terms apply.
- Earn up to $300 with direct deposit, terms apply
- No monthly service fees
- No minimum balances
2
Western Alliance Bank High-Yield Savings Premier
Earn 4.05% Annual Percentage Yield¹Earn more with an individual or joint account
- More than 10x the national average APY
- No account fees
- No minimum balance to maintain after opening
- FDIC insurance up to $250,000 for individual accounts and $500,000 for joint accounts
8.9
BestMoneyscore
3
American Express National Bank
3.50% Annual Percentage Yield as of Nov 14th 2025, Terms Apply¹Earn more interest than your average savings account
- Member FDIC
- Link account to Quicken or QuickBooks
- $0 monthly fees, competitive rates, $0 min to earn²
- Transfer funds and manage your account online³
9.3
BestMoneyscore
5
E*TRADE Premium Savings
Earn 3.75% Annual Percentage Yield¹A solid savings option for investors on E*TRADE
- For a limited time, earn a cash bonus up to $1,000. Terms apply.†
- Instantly move money into an E*TRADE from Morgan Stanley brokerage investment account²
- FDIC insured up to $500,000 once certain conditions have been satisfied³
8.8
BestMoneyscore
240,737 users
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BestMoney Total Score
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BestMoney’s editorial team researches and reviews financial products based on factors such as: range of products and services offered, ease-of-use, online accessibility, customer service, special awards, and more. Each brand is then given a score based on the offerings in each parameter. The specific parameters which we use to evaluate the score of each product can be found on its review page.
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SoFi Checking and Savings
Earn up to 4.30% APY with direct depositThe savings account to help you reach your financial goals
- Limited time: +0.70% boost to 4.30% for up to 6 months on new accounts with eligible direct deposit. Terms apply.
- Earn up to $300 with direct deposit, terms apply
- No monthly service fees
- No minimum balances
Some of the listings are powered by Bankrate
Bankrate Advertiser Disclosure:
The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. This table does not include all companies or all available products. Bankrate does not endorse or recommend any companies.
Why Open an Online Savings Account?
An online savings account is like a regular savings account, but with higher rates, lower fees, and greater convenience.
Banks that operate online spend less on overhead than banks with brick-and-mortar branches. These savings get passed on to customers in the form of higher rates (also known as annual percentage yield, or APY).
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Online savings accounts have become more popular in recent years as internet-only banks have emerged as competition for traditional banks. These days, most online banks offer mobile apps that let users track savings, deposit checks, and transfer money between accounts—all from the comfort of their smartphone.
How to Compare Online Savings Accounts
Each online savings account is unique, so it’s important to go comparison shopping before deciding where to park your money. The following is a list of the top things to focus on when comparing online savings accounts.
APY: This is the most important thing to look for when comparing online savings accounts, given that the entire point of a savings account is to save as much as possible. Today’s APYs for online savings accounts range from as low as 0.01% to as high as 2.25%. The higher the rate, the greater the likelihood that there are minimum requirements (such as a minimum balance) attached.
- Fees: Online banks typically charge lower fees than traditional banks, but that doesn’t mean their services come completely free of charge. Some banks charge a small monthly fee for maintaining an account (or for going below a pre-determined minimum balance). There may also be fees for taking certain actions such as withdrawals from third-party ATMs or international transfers.
Minimum requirements: As mentioned, savings accounts often come with minimum requirements that the customer must commit to in order to receive the promised APR. The requirement usually takes the form of a minimum monthly balance or minimum opening deposit.
CDs: An online certificate of deposit, or online CD, is an alternative type of online savings account. With a CD, the customer must lock in their money for a certain period of time, e.g. 3 months, 12 months, or 6 years. Generally speaking, the longer the customer locks their money in for, the better the rate. At the time of writing, online banks were offering 5-year CDs with as high as 3.10% APY, more than double the national average of around 1.30%.
Checking services: Increasingly, online banks are offering hybrid checking-savings accounts that give the customer a combination of everyday banking services and a competitive savings rate. The best online savings accounts permit withdrawals (usually 4-6 per month), unlimited transfers between personal checking and savings accounts, and check deposits straight from a mobile app.
Customer service: Just because something is online doesn’t mean having to forego customer service. Most online banks offer service by live chat or phone. Some online banks even maintain a few physical branches, giving customers the option of face-to-face contact from time to time.
Our Top Online Savings Account as of Nov 14th 2025
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What Services do Online Savings Accounts Offer?
Here are some of the services users can expect to be offered with the best online savings accounts:
Transfer money between accounts – Unlimited transfers between your personal savings and checking accounts.
User-friendly dashboard – Track all bank accounts and download statements from the one online or mobile dashboard.
Digital check deposit - Instantly scan and deposit a check with your smartphone and see the funds land in your savings account right away.
Savings and budgeting tools – Set savings goals, track your progress, and get useful tips on how to make the most of your savings account or CD.
Mobile banking app - Manage your savings account from your mobile device.
Sophisticated security and encryption - Keeps your data safe with multi-factor authentication and high standards of encryption.
FDIC Insurance – Deposits insured up to at least $250,000 (and sometimes as high as $1.5 million, depending on the bank).
SMS / email alerts – Notifications whenever any unusual or suspicious activity occurs in relation to your bank account.
ATMs – Withdraw money from ATMs in the US and around the world, and get reimbursements from third-party ATM withdrawals.
Add-ons - In an effort to entice customers, many online banks offer add-ons to savings accounts. These include rewards programs, ID theft resolution services, roadside assistance, reduced loan rates, third-party partner discounts, and free wire transfers.
Explore Leading Online Savings Account
Sponsored offer
Discover
Discover online banking offers customers several products including convenient checking accounts with 1% cashback on monthly debit card purchases, high-yield savings accounts, money market accounts, CDs, and IRAs with equally impressive interest rates.
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Disclaimers
SoFi Checking and Savings:
*Terms Apply
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposits will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at http://www.sofi.com/legal/banking-fees/
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Additional FDIC Insurance - SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
Barclays Tiered Savings
* Qualifying activities to earn the $200 bonus offer:
1. Open a new Tiered Savings account
2. Deposit $30,000 or more within 30 days
3. Maintain at least $30,000 for the next 30 days
4. After the $30,000 balance is maintained for 120 consecutive days, the $200 bonus will be added directly to the account in approximately 60 days
Credit to the account within 60 days after the requirements have been completed. Offer valid until 12/31/2025.
Valley Bank:
¹ New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform.
Customers will receive $75 for depositing between $10,000 and $24,499, $250 for depositing between $25,000 and $49,999, $500 for depositing between $50,000 and $99,999, and $1,000 for depositing $100,000 or more.
To qualify for the bonus, your first deposit must be initiated between August 1, 2025, and November 30, 2025, by 11:59 PM ET, and the promo code EASY must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for this bonus. Bonus cash will be deposited by Raisin into the customer’s linked external bank account within 30 days of meeting all qualifying terms.
This offer is available to new customers only and may not be combined with any other bonus offers. Raisin reserves the right to modify or terminate this offer at any time.
Synchrony:
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchronybank.com for current rates, terms and account requirements. Member FDIC.
Western Alliance Bank:
*The annual percentage yield (APY) is accurate as of November 6, 2025 and subject to change at the Bank’s discretion. Refer to the product's website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of October 20, 2025. See the FDIC website for more information.
Northpointe Bank powered by Raisin:
¹ New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform.
Customers will receive $75 for depositing between $10,000 and $24,499, $250 for depositing between $25,000 and $49,999, $500 for depositing between $50,000 and $99,999, and $1,000 for depositing $100,000 or more.
To qualify for the bonus, your first deposit must be initiated between August 1, 2025, and November 30, 2025, by 11:59 PM ET, and the promo code EASY must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for this bonus. Bonus cash will be deposited by Raisin into the customer’s linked external bank account within 30 days of meeting all qualifying terms.
This offer is available to new customers only and may not be combined with any other bonus offers. Raisin reserves the right to modify or terminate this offer at any time.
Discover High-Yield Savings Account:
1. The Annual Percentage Yield (APY) for the Online Savings Account as of 10/09/2025 is more than five times the national average APY for interest bearing savings accounts with a balance of $500 as reported by Curinos as of 10/09/2025. National average is based on information regarding the top 50 banks (by deposit size) and may not include information from variations in regional pricing at such banks or information from products that may not be widely available to their customers. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. APYs are subject to change at any time.
For more information on FDIC deposit insurance (including information on deposit ownership categories), or for help calculating your coverage, visit EDIE.FDIC.gov or call the FDIC at 1-877-275-3342 (1-877-ASKFDIC).
E*TRADE Premium Savings:
† To be eligible for this offer, you must apply promo code "SAVE100" at the time of account opening. This promotional code is intended for single use only and is non-transferable.
This offer is only valid for a new Premium Savings Account (PSA). This offer is not valid for Checking, Max-Rate Checking or line of credit accounts that we or our affiliates offer. IRA and non-IRA Brokerage accounts are ineligible. This offer is only eligible to one new opened and funded Premium Savings Account (PSA) within thirty (30) days. Excludes non-U.S. residents, and residents of any jurisdiction where this offer is not valid. Customer may only be enrolled in one PSA offer at a time. Cannot be combined with any other PSA offers. Each customers is limited to a lifetime maximum of two Premium Savings Account offers. Offer may be removed at any time. Other restrictions apply.
1. As of 09/23/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association is 3.75%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rate and corresponding APY.
2. Transfer Money transactions made between existing accounts will be processed immediately. Funds deposited to accounts via Transfer Money from external accounts will be available for investment or withdrawal on the third business day after the date of deposit if transferred by 4 p.m. ET.
3. The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation (“FDIC”) member banks with the purpose of affording you additional FDIC insurance coverage. It is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. Learn more.
American Express National Bank Disclaimer:
1. The Annual Percentage Yield (APY) as advertised is accurate as of Friday, November 14th 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.
2. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
3. For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
Live Oak Bank Disclaimer:
¹ New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform.
Customers will receive $75 for depositing between $10,000 and $24,499, $250 for depositing between $25,000 and $49,999, and $500 for depositing $50,000 or more.
To qualify for the bonus, your first deposit must be initiated between August 1, 2025, and February 14, 2025, by 11:59 PM ET, and the promo code BOOST must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for this bonus. Bonus cash will be deposited by Raisin into the customer’s linked external bank account within 30 days of meeting all qualifying terms.
This offer is available to new customers only and may not be combined with any other bonus offers. Raisin reserves the right to modify or terminate this offer at any time.