Best High-Yield Savings Accounts

The ideal savings account is one where you can park your money and earn an above average interest rate. Traditional brick and mortar banks typically offer 0.01% interest on savings account.

Save smarter with an online high-yield savings account. Earn more than 2% interest on your money, with the flexibility to withdraw when you need it.

Compare Savings Accounts

Reviews

CIT Bank Savings Builder: up to 2.10% APY

CIT Bank is an FDIC insured online-only bank. The CIT Bank Savings Builder account has two tiers, a Base Tier and an Upper Tier, where you can earn up to 2.10% APY.

To earn the Upper Tier 2.10% APY, you must make a monthly deposit of $100 or more into the Savings Builder account OR maintain a daily balance of $25,000 or more. If you do not meet the Upper Tier requirements, the Base Tier rate is 1.22% APY.

Cons:

  • $100 opening deposit does NOT count towards the higher APY tier. Must make an additional deposit of $100 or more during the first Evaluation Period to qualify

  • No checking account options

  • No ATM network

  • No physical branches

Pros:

  • Earn up to 2.10% APY

  • $100 Minimum opening balance

  • Two ways to earn the Upper Tier 2.10% APY rate:

    • $100 deposit each month OR

    • Maintain a minimum $25,000 account balance

  • No monthly fees

 

Marcus by Goldman Sachs: 1.90% APY

Marcus is Goldman Sachs’ consumer banking arm that offers a competitive 1.90% APY high-yield savings account.

Since Marcus is an online bank, they can save on overhead costs like maintaining a physical branch and pass the savings onto its customers.

The main benefit of Marcus is that it’s widely accessible to everyone since the minimum opening deposit to earn the 1.90% APY is only $1.

Pros:

  • 1.90% APY

  • $1 Minimum opening requirement

  • No monthly fees

  • No fees for transactions

 

Cons:

  • No physical branches

  • No mobile app

  • No checking account options

  • No ATM network

  • Customer service is only available on weekdays


PNC Bank: 2.15% APY

The PNC Bank high-yield savings account is only available in certain states where they do not have a market presence. The minimum balance to earn the high-interest rate is $1.

If you’re looking to earn points on a credit card, you can use a credit card to initially fund the account up to $2,000.

Pros:

  • 2.15% APY

  • $0 Minimum opening requirement

  • $0 Minimum balance

  • $0 Monthly service charge

  • Mobile app

  • Mobile check deposit

  • Initial deposit fundable via credit card

 

Cons:

  • Account must be open for at least 180 days, or there is a $25 early termination fee

  • Account is only available in select markets