What is a savings account? It is an account that earns interest, in other words, money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
To start off, there are those ordinary high-interest savings accounts that do not come with any limitations or restraints and there are those high-interest Savings accounts with super high yield options that are more high maintenance and take time and patience to deal with. Both options are discussed in this post.
Keep in mind that all of the better substitutes have velocity limits, whether it’s $5k or $10k or $20k. All in a nutshell, the most you’ll ever get is no more than $1,000 in annual interest from any of these accounts, but typically it’s much less than $1000.
If you’re patient and willing to keep up with the high maintenance of these velocity-limited accounts, by all means. If you’re not patient and unable to keep up with multiple accounts, the ordinary high-interest savings account option is the route for you!
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Recommended High-Interest Savings
If you leave your money in a typical bank account, usually the interest rate is slim to none (close to 0%). You can find accounts that offer competitive rates if you just do a little research. Listed below are all of the most popular savings accounts and are FDIC insured up to $250,000.
 With the CIT Bank Savings Builders 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. • FDIC Insured |
Super High-Interest Savings Options
Below is list of all of the super high-interest options NATIONWIDE:
| Bank | Account Type | APY | Minimum/Maximum | Inquiry | Review |
|---|---|---|---|---|---|
| Aspiration ($200 bonus) | Plus Account | 1.00% | No min/$10K max | Soft | Review |
| Kabbage | Checking Account | 1.10% | No min/ $100k max | ? | Review |
| Patelco Credit Union | Money Market Select Account | 1.00% | No min/$2K max | ? | Review |
| T-Mobile Money | Checking Account | 1.00% | No min/No max | Soft | Review |
| Affinity Plus Federal Credit Union | Superior MMA | 1.00% | $500 min/$25K max | ? | Review |
| Connexus Credit Union | MMA | 0.85% | $100K min | ? | Review |
| CommunityWide Fed Credit Union | High Rate Quarterly Fund Account | 0.80% | $1 min/No max | ? | Review |
| Gold Coast Bank | Money Market Account | 0.75% | $50K min/No max | ? | Review |
| Neighbors Bank | High-Yield Online Savings | 0.70% | $25K min/No max | ? | Review |
| Smarty Pig | High Yield Savings | 0.70% | $2.5 min/$10k max | ? | Review |
| Affirm | Online Savings | 0.65% | No min/No max | Soft | Review |
| Ivy Bank | High-Yield Savings | 0.61% | $2.5K min/No max | ? | Review |
| Prime Alliance Bank | Personal Savings | 0.60% | $1 min/No max | ? | Review |
| ConnectOne Bank | Online Savings | 0.60% | $2.5K min/$250K max | ? | Review |
| CFG Bank | Market Market Account | 0.59% | $25K min/No Max | Soft | Review |
| Vio Bank | Market Market Account | 0.56% | No min/No Max | ? | Review |
| Alliant Credit Union | High Yield Savings | 0.55% | No min/No max | Soft | Review |
| BrioDirect | Direct Savings | 0.55% | $5K min/No max | Soft | Review |
| Comenity Direct | High Yield Savings | 0.55% | $5K /$250K max | ? | Review |
| Fitness Bank | Savings Account | 0.55% | $100 min/No max | ? | Review |
| Quontic Bank | High Yield Savings | 0.55% | No min/No max | Soft | Review |
| USALLIANCE | High Dividend Savings | 0.55% | No min/No max | Soft | Review |
| Valley Direct Online Savings | Online Savings | 0.55% | $5k min/No max | Soft | Review |
| CIBC | Savings | 0.52% | $1K min/$1M max | ? | Review |
| SFGI | Direct Savings | 0.51% | No min/No max | ? | Review |
| Vio Bank | High Yield Online Savings | 0.51% | No min/No max | Soft | Review |
| Ally Bank | Online Savings Account | 0.50% | No min/No max | Soft | Review |
| BankDirect | Money Market | 0.50% | $10k min/No max | ? | Review |
| BankPurely | PurelyMoneyMarket | 0.50% | $25k min/No max | Soft | Review |
| Capital One 360 | Performance Savings | 0.50% | No min | Soft | Review |
| Customers Bank | Market Savings Account | 0.50% | $25K min/No Max | Soft | Review |
| First Foundation Bank | Online Savings | 0.50% | $1K min/No max | ? | Review |
| iGObanking | Online Money Market | 0.50% | $25k min/No max | Soft | Review |
| Chime ($75 bonus) | Checking Account | 0.50% | No min/No max | Soft | Review |
| CIT Bank | Savings Connect | Up to 0.50% | No min/No max | Soft | Review |
| Citibank | Citi® Accelerate Savings | 0.50% | No min/No max | Soft | Review |
| First Internet Bank | Money Market | 0.50% | $4K /No max | ? | Review |
| Live Oak Bank | Savings | 0.50% | No min/No max | Soft | Review |
| Marcus by Goldman Sachs | Online Money Market | 0.50% | $2,500 min/$No max | Soft | Review |
| National Cooperative Bank | Impact Money Market | 0.50% | No min/No max | Soft | Review |
| Northern Bank | Direct Money Market | 0.50% | $5k min/$250k max | Soft | Review |
| Spectrum Credit Union | MarketEdge Money Market Savings | 0.50% | $2.5k min/No max | ? | Review |
| Star One Credit Union | Money Market | 0.50% | $50 min/No max | ? | Review |
| Synchrony Bank | High Yield Savings | 0.50% | No min/No max | Soft | Review |
| TAB Bank | High Yield Savings | 0.50% | $1 min/No max | ? | Review |
| TotalDirectBank | Direct Money Market Deposit | 0.50% | $5k min/$500k max | ? | Review |
| Western State Bank | High Yield Money Market | 0.50% | No min/$3M max | Soft | Review |
| Bank7 | Online Savings | 0.45% | No min/$1M max | Soft | Review |
| Bank7 | Online Money Market | 0.45% | No min/$1M max | Soft | Review |
| CIT Bank | Money Market | 0.45% | $100 min/No max | Soft | Review |
| Gateway First (Many States) | High Yield Savings | 0.45% | No min/No Max | ? | Review |
| PenFed | Online Savings | 0.45% | No min/No max | Soft | Review |
| Popular Direct | Select Savings | 0.45% | $5K min/No max | Soft | Review |
| Rising Bank | High Yield Savings | 0.45% | $1K min/$500K max | Soft | Review |
| Sallie Mae Bank | Money Market | 0.45% | No min/No max | Soft | Review |
| All America Bank | Mega Money Market® Checking | 0.40% | No min/$50K max | Soft | Review |
| American Express | High-Yield Savings | 0.40% | No min/$5M max | ? | Review |
| Bellco Credit Union | Premier Money Market Account | 0.40% | $50K min/No max | ? | Review |
| CIT Bank | Savings Builders | 0.40% | $25K min/No max | Soft | Review |
| Citizens Access | Online Savings | 0.40% | $5K /$250K max | ? | Review |
| Colorado Federal Savings Bank | Colorado Savings Bank | 0.40% | $1 min/No max | Soft | Review |
| Credit Karma | High Yield Savings | 0.40% | $0.01/No max | ? | Review |
| Discover Bank | Online Savings | 0.40% | No min/No max | Soft | Review |
| Elements Financial | Helium Savings | 0.40% | $2,500 min/No max | Soft | Review |
| Mutual One Bank | Online Savings | 0.40% | No min/No max | ? | Review |
| PNC Bank (Many States) | High-Yield Savings | 0.40% | $1 min/$5M max | Soft | Review |
| Redneck Bank | Mega Money Market | 0.40% | $1K min/No max | Soft | Review |
| Salem Five Direct | High Yield Savings | 0.40% | No min/$1M max | Hard | Review |
| TIAA Bank | Yield Pledge Money Market | 0.40% | $500 min/$250K max | ? | Review |
| Discover Bank | MMA | 0.35% | $100K min/No max | Soft | Review |
| Betterment | EverydayTMCash Reserve | 0.30% | $10 min/No max | ? | Review |
| Nationwide by Axos Bank | My Savings | 0.30% | No min/No max | Soft | Review |
| Paramount Bank | High-Interest Checking | 0.30% | No min/No max | Soft | Review |
Super High-Interest Savings Options
Below is list of all of the super high-interest options REGIONAL:
| Bank | State(s) | Account Type | APY | Minimum/Maximum | Review |
|---|---|---|---|---|---|
| Workers Credit Union | MA | SaveUp Savings | 4.32% | $5.00 min/No max | Review |
| SharePoint Credit Union | MN | eSavings Account | 3.00% | No min/$10K 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 Min/No Max | Review |
| Apco Employees Credit Union | AL | IRA Share Account | 1.26% | $25 minimum to earn high rate | Review |
| Home Loan Investment Bank | RI, MA | Premier Savings | 1.05% | $50k minimum to earn high rate | Review |
| Amboy Direct | NJ | eSavings Account | 1.01% | $1.00 min/$250,000 max | Review |
| Advancial Premium | PA | Money Market | 1.01% | $1.00 min/$100,000 max | Review |
| Bogota Savings Bank | NJ | Anniversary Money Market | 1.00% | $75K min/No max | Review |
| Sharon Bank | DE, NJ, PA | Kasasa Saver | 1.00% | $50K min/No max | Review |
| Home State Bank | MN | Kasasa Saver | 0.50% | No min/$50K max | Review |
| WauBank | AZ, CT, FL, MA, RI, TN, VA | Online High Yield Savings | 0.40% | $5K minimum to earn high rate | Review |
Account Opening: Which One First?
There is no direct answer to which account you should open first. Each of these accounts have their own pros and cons. These are nationwide options, so be sure to see if there are regional options that are a better route as well! Below are rewards checking accounts where you can earn a higher than normal rate compared to a savings account when meeting certain requirements.
Some typical requirements can include enrolling in eStatements, set up monthly direct deposit or ACH transfers, then make a minimum number of debit card transactions, etc. While the rate may be high, there is a cap (usually between $10K to $20K) on the high interest rate.
| Bank or Credit Union | Account Type | APY | Maximum | Review |
|---|---|---|---|---|
| Consumers Credit Union | Free Rewards Checking | 4.09% | $10,000 | Review |
| Evansville Teachers FCU | Vertical Dividend Checking | 3.30% | $20,000 | Review |
| Farmer State Bank | Loyalty Checking | 3.05% | $15,000 | Review |
| Market USA FCU | Platinum Tier Rewards Checking | 3.01% | $15,000 | Review |
| Blue Federal Credit Union | Extreme Checking | 3.00% | $15,000 | Review |
| ECCU | Kasasa Cash | 3.00% | $10,000 | Review |
| INOVA Federal Credit Union | Shield Checking | 3.00% | $15,000 | Review |
| Lake Michigan Credit Union | Max Checking | 3.00% | $15,000 | Review |
| Municipal Employees Credit Union | RewardChecking | 3.00% | $10,000 | Review |
| Porte Bank | High-Yield Savings | 3.00% | $15,000 | Review |
| R Bank | R Best Checking | 3.00% | $10,000 | Review |
| Security Bank of Crawford | Kasasa Cash Checking | 3.00% | $15,000 | Review |
| Sharon Bank | Kasasa Cash Checking | 3.00% | $10,000 | Review |
| Sullivan Bank | Kasasa Cash Checking | 3.00% | $10,000 | Review |
| Western Vista Credit Union | Panorama Checking | 2.53% | $15,000 | Review |
| 22nd State Bank | Kasasa Cash | 2.50% | $25,000 | Review |
| Devon Bank | Kasasa Cash Checking | 2.50% | $10,000 | Review |
| Devon Bank | Kasasa Cash with Saver | 2.50% | $50,000 | Review |
| evergreenDIRECT Credit Union | Kasasa Cash Checking | 2.50% | $20,000 | Review |
| Farmer's State Bank | Kasasa Cash Checking | 2.50% | $25,000 | Review |
| First Financial FCU | Kasasa Cash Checking | 2.50% | $15,000 | Review |
| Flora Bank & Trust | First Reward Checking | 1.01% | $20,000 | Review |
| Great Lakes Credit Union | Free Checking | 2.50% | $10,000 | Review |
| R Bank | R Best Checking | 2.50% | $10,000 | Review |
| USE Federal Credit Union | Kasasa Cash | 2.50% | $5,000 | Review |
| Bellco Credit Union | Boost Interest Checking | 2.25% | $25,000 | Review |
| Presidential Bank | Advantage Checking | 2.25% | $25,000 | Review |
| Quoin Bank | Kasasa Cash Checking | 2.25% | $25,000 | Review |
| Hiway Federal Credit Union | Hi Yield Checking | 2.22% | $25,000 | Review |
| AndgioCredit Union | High-Yield Checking | 2.09% | $10,000 | Review |
| FAB&T | Prime Checking | 2.05% | $30,000 | Review |
| TruStone Financial Federal Credit Union | TruRate Checking | 2.02% | $20,000 | Review |
| Bay State Savings Bank | Kasasa Cash | 2.01% | $20,000 | Review |
| Campus Federal | Lagniappe Checking | 2.01% | $10,000 | Review |
| Department Of Commerce Federal Credit Union | Performance Checking | 2.01% | $20,000 | Review |
| First Security Bank & Trust | Kasasa Cash | 2.01% | $50,000 | Review |
| CapEd Credit Union | High Yield Checking | 2.00% | $10,000 | Review |
| Elements Financial | High Interest Checking | 2.00% | $20,000 | Review |
| GreenState Credit Union | R2 Checking | 2.00% | $20,000 | Review |
| Home State Bank | Kasasa Cash Checking | 2.00% | $20,000 | Review |
| Ideal Credit Union | High Yield Checking | 2.00% | $20,000 | Review |
| Signature Federal Credit Union | High Yield Checking | 2.00% | $20,000 | Review |
| Silver Lake Bank | Kasasa Cash Checking | 2.00% | $20,000 | Review |
| The Bank of Denver | Kasasa Cash | 2.00% | $25,000 | Review |
| TAB Bank | Kasasa Cash | 2.00% | $50,000 | Review |
| The Savings Bank | Kasasa Cash | 2.00% | $15,000 | Review |
| United Educators Credit Union | High Yield Checking | 2.00% | $10,000 | Review |
| Wings Financial | High Yield Checking | 1.76% | $25,000 | Review |
| Connexus Credit Union | Xtraordinary Rewards Checking | 1.75% | $25,000 | Review |
| Partner Colorado Credit Union | High Interest Checking | 1.75% | $10,000 | Review |
| Finex Credit Union | Axcess Rewards Checking | 1.51% | $25,000 | Review |
| Country Bank | Kasasa Cash | 1.50% | $20,000 | Review |
| Envision Bank | Envision Max | 1.50% | $25,000 | Review |
| Garden Savings Federal Credit Union | Platinum Checking | 1.50% | $15,000 | Review |
| KS State Bank | Checking PLUS | 1.50% | $15,000 | Review |
| One American Bank | Kasasa Cash | 1.50% | $10,000 | Review |
| Industrial Bank | Kasasa Cash | 1.47% | $15,000 | Review |
| Heritage Bank | eCentive Account | 1.32% | $25,000 | Review |
| BankFirst | Kasasa Cash | 1.25% | $10,000 | Review |
| America's Credit Union | Affinity Plus Checking | 1.01% | $25,000 | Review |
| All America Bank | Ultimate Rewards Checking | 1.00% | $10,000 | Review |
| Northwest Federal Credit Union | Kasasa Cash | 1.00% | $25,000 | Review |
| Orion Federal Credit Union | Premium Checking | 1.00% | $10,000 | Review |
| Redneck Bank | Rewards Checking | 1.00% | $10,000 | Review |
| XCEL Federal Credit Union | Kasasa Cash | 1.00% | $25,000 | Review |
| Pelican State Credit Union | Kasasa Saver | 0.75% | $50,000 | Review |
Bottom Line
All in all, it’s a good idea to leave your money in some sort of interest bearing account – majority of checking accounts yield no return while your funds sit there.
Not every single one of these accounts are phenomenal deals because of the limits and requirements, so some people will seek that one account is easier than another based on how simple it is for them to execute the debit card purchases, direct deposits, and so on. Interested in more savings account options & rates?
We recommend checking out the Discover Online Savings Account, CIT Bank Savings Builder, American Express Personal Savings, and more from our list of the Best Bank Rates!
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