If you're planning to open an online savings account, it's important to do your research. You would like an account with the highest interest rate - around 1 percent - minimal or no charges or balance limitations, FDIC insurance and a good customer service rating for the accompanying bank. Here are some of the best online savings accounts available. Just remember when you are looking at these accounts and their interest rates, they aren't necessarily worse than a physical bank that doesn't offer an online option.
Best online savings accounts No. 1 - Ally
Ally Bank has a really great consumer service reputation and is easy to use online. Individuals can get high-yield CDs and IRAs through the business if interested, and there are virtually no service fees. The savings account gets a 0.95 percent yearly increase with no minimum balance required.
Best online accounts No. 2 - CIT
A Small business administration Preferred Lender that has been in business for a century, CIT offers a 0.90 percent APY on balances under $25,000. Those above hit 1.05 percent. A $100 minimum balance is needed, but there are no other associated fees. Customer service is available daily, but hours are set.
Save more money with American Express Personal Savings
Through American Express Bank, FSB, this savings account has an APY of 0.90 percent currently. The bank offers full 24/7 service, and there are no fees or minimums.
Discover a good banking account
With 24/7 service and a .80 percent interest rate, Discover can be another great way. There is no minimum fee for keeping it open, though a $500 check is required to open the account. There are also no monthly charges.
Try EverBank
APY is at 1.01 percent at the EverBank Yield Pledge Money Industry account, and it goes up to 1.25 percent for over $50,000. There is a lot you can get from the bank's site, though you need $1,500 to get started. There are many more options available for only accounts, and some may offer better deals than these listed. If you spend a little time doing a little research you will find out that your money can sometimes work for you. You now have read about our top accounts, the only question left is, what account will you choose? Visit us and let us know what account you chose and why.
Best online savings accounts No. 1 - Ally
Ally Bank has a really great consumer service reputation and is easy to use online. Individuals can get high-yield CDs and IRAs through the business if interested, and there are virtually no service fees. The savings account gets a 0.95 percent yearly increase with no minimum balance required.
Best online accounts No. 2 - CIT
A Small business administration Preferred Lender that has been in business for a century, CIT offers a 0.90 percent APY on balances under $25,000. Those above hit 1.05 percent. A $100 minimum balance is needed, but there are no other associated fees. Customer service is available daily, but hours are set.
Save more money with American Express Personal Savings
Through American Express Bank, FSB, this savings account has an APY of 0.90 percent currently. The bank offers full 24/7 service, and there are no fees or minimums.
Discover a good banking account
With 24/7 service and a .80 percent interest rate, Discover can be another great way. There is no minimum fee for keeping it open, though a $500 check is required to open the account. There are also no monthly charges.
Try EverBank
APY is at 1.01 percent at the EverBank Yield Pledge Money Industry account, and it goes up to 1.25 percent for over $50,000. There is a lot you can get from the bank's site, though you need $1,500 to get started. There are many more options available for only accounts, and some may offer better deals than these listed. If you spend a little time doing a little research you will find out that your money can sometimes work for you. You now have read about our top accounts, the only question left is, what account will you choose? Visit us and let us know what account you chose and why.