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Find which banks have the best savings account and money market accounts with high interest rates! Find the highest savings interest rates and open an account today.
In addition to this list, you will be able to find and select the best savings accounts suitable for your needs. All accounts, such as checking accounts, savings accounts, CDs, and money market accounts each have different benefits, and thus different interest rates.
All of the banks listed are FDIC insured, so you can feel at ease as you know your money is secured and earning the highest possible interest rate in a safe environment. Be sure to familiarize yourself with the terms and conditions with each account in order to obtain the highest rate!
Editor’s Note: A good majority of the accounts listed below are available nationwide. Please refer to our individual reviews before applying as few accounts are available only in certain states, regions, etc. For reference, in the title of each review (and in the “account summary” segment of each review), we list the availability of each bank/credit union whether it be available in a certain state(s) or available nationwide.
Best Featured Savings Accounts
The following rates are better than what most traditional banking institutions can offer. Accounts from HSBC Direct, Discover Bank and CIT Bank are all available online and nationwide. In addition, you may want to check out the popular Savings account from Chase bank for a nice sign-up bonus.
Discover Online Savings Account $150/$200 Bonus
Available nationwide, the Discover Online Savings Account is currently offering a $200 or $150 bonus along with 0.40% APY.
To redeem this offer, apply for your first Discover Online Savings account by 12/15/2021 and be sure to use the promo code BDG21 when applying. See advertiser website for full details on the promotion terms to earn your Discover Savings Bonus!
To Earn $150 Bonus:
- Must be a new Discover Bank Online Savings Account customer
- Apply for your first Discover Online Savings Account through BankDealGuy.com by 12/15/2021 using offer code BDG21
- Fund your first savings account with a minimum deposit of $15,000 within 30 days of account open date.
- Finally, verify information and electronically sign your application. They may ask your to verify some information on your credit report such as old addresses or loans.
- As a result, you’ll earn your $150 Discover Savings Bonus!
To Earn $200 Bonus:
- Must be a new Discover Bank Online Savings Account customer
- Apply for your first Discover Online Savings Account through BankDealGuy.com by 12/15/2021 using offer code BDG21
- Fund your first savings account with a minimum deposit of $25,000 within 30 days of account open date.
- Finally, verify information and electronically sign your application. They may ask your to verify some information on your credit report such as old addresses or loans.
- As a result, you’ll earn your $200 Discover Savings Bonus!
(FDIC Insured)
Aspiration Spend & Save $100 Bonus + 1.00% APY
To earn the $100 bonus, use your Aspiration debit card to make at least $1,000 in purchases within the first 60 days from account opening. Additionally, earn 1.00% APY when you spend $1,000 or more monthly, using the Aspiration debit card.
- Up to 10% cash back on debit card purchases
- Unlimited fee-free ATM withdrawals at Allpoint ATMs
- Up to 1.00% APY on savings
- Deposits are FDIC-insured
- No hidden fees!
- Extra cash back for spending at socially-conscious businesses
(No Expiration Date)
Chase SavingsSM Account Bonus Offer
Earn a $150 bonus when you open a new Chase SavingsSM account and deposit a total of $10,000 or more in new money within 20 days. You must also maintain a $10,000 balance for 90 days.
- What you’ll get: $150 bonus
- Eligible account: Chase SavingsSM
- Credit inquiry: Soft pull, which does not affect your credit
- Where it’s available: Online Nationwide except Alaska, Hawaii, and Puerto Rico (Bank Locator)
- How to earn it: Open a new Chase Savings℠ account and deposit $10,000 or more in new money within 20 business days, and maintain a $10,000 balance for 90 days.
- When you’ll receive it: After all requirements are met, you’ll receive the bonus deposited into your account within 10 business days.
- Monthly fee: $12; waived by doing one of the following:
- Keep a minimum daily balance of $300 or more in your savings account
- Have at least one repeating automatic transfer of $25 or more from your Chase personal checking account (available only through Chase OnlineSM Banking)
- Have a linked Chase Premier Plus CheckingSM, Chase Premier Platinum CheckingSM, or Chase Private Client CheckingSM account.
(Expires 01/20/2021)
CIT Bank Savings Builder Account
Get up to 0.40% APY with the new online CIT Bank Savings Builder account.
- Earn a top tier, competitive APY on your money—one of the top savings rates in the nation.
- Earn 0.40% APY on your funds – grow your savings faster.
- Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate.
How To Earn The Highest Rate:
The higher interest rate can be earned by completing one of following requirements:
- Monthly Savers:
- Make at least one single deposit of $100 or more during the first Evaluation Period which begins on the third business day prior to the end of the month the account was opened.
- Additional deposits made between the account opening date and the beginning of the first Evaluation Period will not qualify.
- In order to continue to earn the higher rate, make at least one single deposit of $100 every month.
- High Balance Savers:
- Have an account balance of $25,000 or more on each Evaluation Day. The Evaluation day is the fourth business day prior to the end of the month.
(FDIC Insured)
Savings Accounts vs. Money Market Accounts
You’ve probably never heard about a Money Market account (MMA) before. Most people already have a good idea of what a traditional Savings account is. Both are very similar and most banks will offer both types of accounts. Here’s a summary of key similarities and differences:
| Similarities | Differences |
| Simple and straightforward to open | Money Market Accounts usually have more Checking-like features, such as electronic funds transfers, checks, debit cards and ATM withdrawals |
| FDIC insured, keeping your deposits safe | Savings accounts usually only allow access to funds via electronic funds transfers, telephone withdrawals, or in-person withdrawals at a branch |
| Limited on certain types of withdrawals per billing cycle (6 is the limit for these certain types by law) | Money Market accounts often require higher minimum balances for earn the rate |
While minimum balance requirements vary, most banks with the best rates keep the rates fairly competitive between both accounts. Though, MMAs from the same bank won’t always have better rates than its Savings account.
Putting aside interest rates, another main factor in deciding which one to have is how you’ll access your funds. For example, MMAs have more options. Many consider MMAs to be more of a hybrid between a checking & savings account due to its limited checking capabilities. Be mindful that many banks limit you on the amount of check writings per month. Both a Savings and Money Market account are limited by the Federal Reserve on the total number of transactions a month.
Money Market accounts are more flexible in case of emergency and Savings accounts are better for long-term. If the primary reason you’re opening an account is to hold your savings and earn interest, go ahead and select the account with the best rates. To receive certain rates, you must meet any minimum balance or other requirements.
Where To Get The Best Interest Rates
Online banks offer the best of the best. When comparing all the best rates from credit unions, local/national traditional banks with online banks, they just can’t compete with the rates provided by online banks. Credit unions and traditional banks operate through brick-and-mortar locations and accumulate more overhead costs.
Online banking is definitely trending and on the rise. Therefore, more consumers are taking advantage of the benefits. A good handful of consumers are unaware about the higher rates offered by online banks or are simply more comfortable with their local banks.
There’s no need to worry about deposit security concerns. All the banks listed on this page are FDIC-insured.
A majority, if not all of these online banks, have been around for years or decades. Many are actually just the online division of a bigger, established banking group. Start browsing around at the rates provided by online banks and compare them to your local physical banks. You’ll find that online banks offer you better accounts — checking, certificate of deposits, IRAs, etc. Typically, the best rates are offered by online banks that are available nationwide.
Best Nationwide Bank Rates
- Accounts below are all available nationwide
- APY = Annual Percentage Yield
- MIN = Minimum to earn the stated APY
- MAX = Maximum that will earn the stated APY
| Bank or Credit Union | Account Type | APY | Minimum/Maximum | Review |
|---|---|---|---|---|
| Affinity Plus Federal Credit Union | Money Market Account | 1.00% | No min/$25K max | Review |
| Aspiration ($25 bonus) | Spend & Save | 1.00% | $10K min/No max | Review |
| Patelco Credit Union | Money Market Select | 1.00% | No min/$2K max | Review |
| T-Mobile Money | Checking Account | 1.00% | No min/No max | Review |
| Connexus Credit Union | MMA | 0.85% | $50K min/$99,999.99 max | Review |
| Zynlo Bank | Money Market | 0.80% | No min/No max | Review |
| CommunityWide Fed Credit Union | High Rate Quarterly Fund Account | 0.80% | $1 min/No max | Review |
| Merchants Bank of Indiana | Money Market Checking | 0.75% | $No min/$1M | Review |
| Neighbors Bank | High Yield Online Savings Account | 0.70% | $25k min/$250k max | Review |
| Nationwide by Axos Bank | My Savings | 0.70% | No min/No max | Review |
| Smarty Pig | High Yield Savings | 0.70% | No min/No Max | Review |
| Affirm | Savings Account | 0.65% | No min/No max | Review |
| Fitness Bank | Savings Account | 0.65% | $100 min/No max | Review |
| Paramount Bank | High-Interest Checking Account | 0.65% | $100 min/No max | Review |
| Ivy Bank | High-Yield Savings | 0.61% | $2.5K min/$1M max | Review |
| ConnectOne Bank | Online Savings | 0.60% | $2.5K min/$250K max | Review |
| LendingClub Bank | Online Savings | 0.60% | No min/No max | Review |
| Prime Alliance Bank | Personal Savings | 0.60% | $1 min/No max | Review |
| CFG Bank | High Yield Money Market | 0.59% | $25K min/No max | Review |
| BrioDirect | High Yield Money Market | 0.55% | $25,000 min/No max | Review |
| Alliant Credit Union | High Yield Savings | 0.55% | No min/No max | Review |
| USALLIANCE | High Yield Dividend | 0.55% | No min/No max | Review |
| Valley Direct | Online Savings Account | 0.55% | $5K min/No max | Review |
| Vio Bank | Cornerstone Money Market | 0.55% | No min/No max | Review |
| Vio Bank | High Yield Online Savings | 0.53% | No min/No max | Review |
| CIBC Bank | Agility Online Savings | 0.52% | $1K min/No max | Review |
| SFGI Direct Savings | Direct Savings | 0.51% | No min/No max | Review |
| able Banking | Money Market Savings | 0.50% | No min/No max | Review |
| Ally Bank | Online Savings Account | 0.50% | No min/No max | Review |
| BankPurely | PurelyMoneyMarket | 0.50% | $25k min/No max | Review |
| Citibank | Citi® Accelerate Savings | 0.50% | No min/No max | Review |
| Colorado Federal Savings Bank | High Yield Savings Account | 0.50% | $1 min/No max | Review |
| Customers Bank | Market Savings Account | 0.50% | $25K min/No max | Review |
| First Foundation Bank | Online Savings | 0.50% | $1K min/No max | Review |
| PNC Bank (Many States) | High-Yield Savings | 0.50% | $1 min/$5M max | Review |
| iGObanking | Money Market Account | 0.50% | No min/No max | Review |
| BankUnitedDirect | Direct Online Money Market | 0.50% | $2.5k min/$250k max | Review |
| CIT Bank | Savings Connect Account | Up to 0.50% | No min/No max | Review |
| First Internet Bank | Money Market | 0.50% | $4K min/No max | Review |
| Live Oak Bank | Savings Account | 0.50% | $1K min/No max | Review |
| Marcus by Goldman Sachs | High-Yield Online Savings | 0.50% | $0 min/$3M max | Review |
| National Cooperative Bank | Impact Money Market Account | 0.50% | $100 min/No max | Review |
| Northern Bank Direct | Money Market | 0.50% | $5K min/No max | Review |
| Penfed Credit Unon | Premium Online Savings | 0.50% | No min/No max | Review |
| Sallie Mae | Money Market Account | 0.50% | No min/No max | Review |
| Synchrony Bank | High Yield Savings | 0.50% | No min/No max | Review |
| TotalDirectBank | Direct Money Market Deposit | 0.50% | $5k min/$500k max | Review |
| TAB Bank | High Yield Savings | 0.50% | $1 min/No max | Review |
| Western State Bank | High Yield Money Market | 0.50% | No min/$3M max | Review |
| Bank7 | Online Money Market | 0.45% | No min/$1M max | Review |
| Bank7 | Online Savings | 0.45% | No min/$1M max | Review |
| CIT Bank | Money Market Account | 0.45% | $100 min/No max | Review |
| Gateway First | High Yield Savings | 0.45% | No min/$1M max | Review |
| Popular Direct | Select Savings | 0.45% | No min/$1M max | Review |
| Rising Bank | High Yield Savings | 0.45% | $1k min/$500k max | Review |
| American Express | American Express High-Yield Savings Account | 0.40% | No min/$5M max | Review |
| Bellco Credit Union | Premier Money Market Account | 0.40% | $50K min/No max | Review |
| Betterment | EverydayTMCash Reserve | 0.40% | No min/No max | Review |
| CIT Bank | Savings Builder | 0.40% | $25K min/No max | Review |
| Citizens Access | Online Savings | 0.40% | $5K /$250K max | Review |
| Discover Bank | Online Savings Account | 0.40% | No min/No max | Review |
| Elements Financial | Helium Savings Account | 0.40% | $2,500 min/ No max | Review |
| Incredible Bank | Money Market Account | 0.40% | $300k min/No max | Review |
| MutualOne Bank | Online Savings Account | 0.40% | No min/No max | Review |
| TIAA Bank | Yield Pledge Money Market | 0.40% | $500 min/$250K max | Review |
| Salem Five Direct | High Yield Savings | 0.40% | No min/$1M max | Review |
| Discover Bank | MMA | 0.35% | $100K min/No max | Review |
| Dollar Savings Direct | Savings Account | 0.35% | No min/ No max | Review |
| FNBO Direct | Online Savings | 0.35% | $1 min/$1M max | Review |
| All America Bank | Mega Money Market® Checking | 0.30% | No min/$50K max | Review |
| Redneck Bank | Mega Money Market | 0.30% | $1 min/$50K max | Review |
| SoFi Money $50 bonus | Savings Account | 0.25% | No min /No max | Review |
Best State/Local Bank Rates
| Bank or Credit Union | States | Account Type | APY | Terms | Review |
|---|---|---|---|---|---|
| Workers Credit Union | MA | SaveUp Savings | 4.32% | No min/$1K max | Review |
| BOM Bank | LA, TX | Premium Checking | 4.09% | No min/$15K max | Review |
| Texoma CCU | TX | Cashtastic Checking Account | 3.51% | No min/$10K max | Review |
| Farmers State Bank | IA | Loyalty Checking Account | 3.05% | No min/$15K max | Review |
| SharePoint Credit Union | MN | eSavings Account | 3.00% | No min/$10K max | Review |
| Farmers State Bank | NE | Kasasa Cash Checking Account | 2.50% | No min/$25K max | Review |
| Apco Employees Credit Union | AL | IRA Share Account | 2.02% | $25 minimum to earn high rate | Review |
| The Savings Bank | MA | Kasasa Cash Checking | 2.00% | No min/$15K max | Review |
| Central Minnesota CU | MN | My Goal Savings | 1.90% | $0+ minimum to earn high rate | Review |
| Keesler Federal Credit Union | AL, LA, MS | High Interest Money Market Plus | 1.40% | $100K Minimum to earn rate | Review |
| Apco Employees Credit Union | AL | IRA Share Account | 1.26% | $25 Minimum to earn rate | Review |
| Home Loan Investment Bank | RI, MA | Premium Savings Account | 1.05% | $50,000 Minimum to Open | Review |
| Advancial | TX | Premium Money Market | 1.01% | $100,000 min/No max | Review |
| Amboy Direct | NJ | eSavings | 1.01% | $1.00 min/$250,000 max | Review |
| Bogota Savings Bank | NJ | Anniversary Money Market Checking | 1.00% | $75K/No max | Review |
| Sunstate Bank | FL | Kasasa Saver | 1.00% | $25K/No max | Review |
| Pelican State Credit Union | AR, LA, MS, TX | Kasasa Saver | 0.75% | No min/$50K max | Review |
| Star One Credit Union | CA | Money Market | 0.50% | No min/No max | Review |
| Home State Bank | MN | Kasasa Saver Account | 0.50% | No min/No max | Review |
| WauBank | AZ, CT, FL, MA, RI, TN, VA | High Yield Online Savings | 0.40% | $5K Minimum to earn rate | Review |
Savings account promotions are frequently updated. Find the best nationwide Savings/Money Market rates here and the best bank promotions here. For recommendations, the HSBC Direct Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Chase SavingsSM account also has a nice sign-up bonus. |
Savings rate can change quite often. With that said, you can take advantage of the best nationwide savings rates here as well as the best savings account bonuses. I would recommend the UFB Direct High Yield Savings and the CIT Bank Savings Builder accounts as they offer exceptional industry leading rates available nationwide. The Aspiration account has a nice sign-up bonus. |
||
| PROMOTION LINK | OFFER | OFFER |
| Discover® Online Savings Account | 0.40% APY + $200 Cash | Review |
| Aspiration | 1.00% APY + $100 Cash | Review |
| Quontic Bank High Yield Savings | 0.55% APY | Review |
| CIT Bank Money Market | 0.45% APY | Review |
| CIT Bank Savings Builder | 0.40% APY | Review |
| PROMOTIONAL LINK | OFFER | REVIEW |
| Chase Business Complete BankingSM | $300 Cash | Review |
| Citi Priority Account | Up to $1,500 Cash Bonus with required activities. | Review |
| HSBC Premier Checking Member FDIC | $450 Cash | Review |
| Chase Total Checking® | $225 Cash | Review |
| Chase Secure BankingSM | $100 Cash | Review |
| Huntington 25 Checking | $300 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $750 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $200 Cash | Review |
| TD Bank Beyond CheckingSM | $300 Cash | Review |
| TD Bank Convenience CheckingSM | $150 Cash | Review |
| SoFi Money | $100 Cash | Review |
| Discover Bank Cashback Debit | $360 Debit Cashback | Review |
| Citigold Account | Up To $1500 Cash Bonus with required activities. | Review |
| PNC Bank Virtual Wallet | Up to $300 Cash | Review |
| PNC Bank Virtual Wallet Pro | Up to $200 Cash | Review |
| Axos Bank Basic Business Checking | $100 Cash | Review |
| Axos Business Savings | $100 Cash | Review |
| Aspiration Spend & Save | $150 Cash | Review |
I enjoy your website, I reference it often. This morning I noticed you stated Suntrust (now Truist) rate is 1.50% but sadly overnight they drastically lowered its Advantage Money Market Rate from 1.50% to .04% . I just got off the phone with their Customer Service Team member. I am hoping you can update your website.
Thank you.
Where are the 4-6% rates?
Goldman Sacks just raised their rate to 1.20%
United Bank refused my new acct solely because I live in Az. It turns out that they discriminate against USA citizens in a great many states. They “claim” that it’s solely because of the residence location of the applicant.
1. Why didn’t Danny do his homework and warn his readers?
2. How can United Bank be allowed to get away with such outrageous (probably illegal) discrimination?
Don’t bank with United until they stop their discrimination.
Greetings Alan,
Thanks for your comment and visiting BankDealGuy! It’s unfortunate that you were unable to open an account with United Bank. The reason being is that United Bank is only available to residents in Connecticut and Massachusetts. Please refer to our individual reviews before applying. For future reference, in the title of each review (and in the “account summary” segment of each review), we list the availability of each bank/credit union whether it be available in a certain state(s) or available nationwide.
Hope this helps! -Danny