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!
Table of Contents
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 |
|---|---|---|---|---|---|
| T-Mobile Money | Checking Account | 4.00% | No min/$3,000 max | Soft | Review |
| Affinity Plus Federal Credit Union | Superior MMA | 1.00% | $500 min/$25K max | ? | Review |
| Connexus Credit Union | MMA | 1.00% | $100K min/No max | ? | Review |
| Aspiration ($100 bonus) | Spend & Save | 1.00% | $10K min/No max | Soft | Review |
| CFBank | MMA | 0.75% | $20K min/No max | ? | Review |
| Gold Coast Bank | Money Market Account | 0.75% | $50K min/No max | ? | Review |
| Nationwide by Axos Bank | My Savings | 0.70% | No min/No max | Soft | 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 |
| CFG Bank | High Yield Money Market | 0.66% | $25K min/No max | ? | Review |
| Affirm | Online Savings | 0.65% | No min/No max | Soft | Review |
| ConnectOne Bank | Online Savings | 0.65% | $2.5K min/$250K max | ? | Review |
| Fitness Bank | Savings Account | 0.65% | $100 min/No max | ? | Review |
| BrioDirect | Direct Savings | 0.60% | $5K min/No max | Soft | Review |
| CommunityWide Fed Credit Union | High Rate Quarterly Fund Account | 0.60% | $500 min/No max | ? | Review |
| Customers Bank | Market Savings Account | 0.60% | $25K min/No Max | Soft | Review |
| Live Oak Bank | Savings | 0.60% | No min/No max | Soft | Review |
| National Cooperative Bank | Impact Money Market | 0.60% | No min/No max | Soft | Review |
| Prime Alliance Bank | Personal Savings | 0.60% | $1 min/No max | ? | Review |
| First Foundation Bank | Online Savings | 0.60% | $1K min/No max | ? | Review |
| Vio Bank | High Yield Online Savings | 0.57% | No min/No max | Soft | Review |
| SFGI | Direct Savings | 0.56% | No min/No max | ? | Review |
| Alliant Credit Union | High Yield Savings | 0.55% | No min/No max | Soft | Review |
| Comenity Direct | High Yield Savings | 0.55% | $5K /$250K max | ? | Review |
| Popular Direct | Select Savings | 0.55% | $5K 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 |
| Ally Bank | Online Savings Account | 0.50% | No min/No max | Soft | Review |
| All America Bank | Mega Money Market® Checking | 0.50% | No min/$50K 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 |
| 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 |
| Marcus by Goldman Sachs | Online Money Market | 0.50% | $2,500 min/$No max | Soft | Review |
| Northern Bank | Direct Money Market | 0.50% | $5k min/$250k max | Soft | Review |
| Redneck Bank | Mega Money Market | 0.50% | $1K min/No max | Soft | Review |
| Rising Bank | High Yield Savings | 0.50% | $1K min/$500K max | Soft | Review |
| Salem Five Direct | High Yield Savings | 0.50% | No min/$1M max | Hard | 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 |
| 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 |
| Mutual One Bank | Online Savings | 0.45% | No min/No max | ? | Review |
| PenFed | Online Savings | 0.45% | No min/No 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 |
| Gateway First (Many States) | High Yield Savings | 0.40% | No min/No Max | ? | Review |
| PNC Bank (Many States) | High-Yield Savings | 0.40% | $1 min/$5M max | Soft | Review |
| Sallie Mae Bank | Money Market | 0.40% | No min/No max | Soft | Review |
| Synchrony Bank | High Yield Savings | 0.40% | No min/No max | Soft | Review |
| TIAA Bank | Yield Pledge Money Market | 0.40% | $500 min/$250K max | ? | Review |
| able Banking | Money Market Savings | 0.35% | No min | Soft | Review |
| American Heritage Credit Union | High-Yield Savings | 0.35% | $10K min/$1M max | ? | Review |
| Northpointe Bank | Ultimate Savings | 0.35% | $5K min/$2M max | ? | Review |
| Betterment | EverydayTMCash Reserve | 0.30% | $10 min/No max | ? | Review |
| Latino Community Credit Union | Online Money Market | 0.30% | $500 min/No max | Soft | Review |
| SoFi Money ($50 Bonus) | Checking/Savings | 0.25% | No min/No max | ? | Review |
| UFB Direct | Money Market | 0.20% | $5K min/No max | Soft | Review |
| UFB Direct | High Yield Savings | 0.20% | $10K min/No max | Soft | Review |
| Varo | Savings Account | 0.20% | No min/No max | ? | 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 |
|---|---|---|---|---|---|
| SharePoint Credit Union | MN | eSavings Account | 3.00% | No min/$10K max | Review |
| Apco Employees Credit Union | AL | IRA Share Account | 2.02% | $25 minimum to earn high rate | Review |
| Central Minnesota CU | MN | My Goal Savings | 2.00% | $0+ minimum to earn high rate | Review |
| WauBank | AZ, CT, FL, MA, RI, TN, VA | Online High Yield Savings | 1.85% | $5K minimum to earn high rate | Review |
| Keesler Federal Credit Union | AL, LA, MS | High Interest Money Market Plus | 1.50% | $100K Min/No Max | Review |
| Workers Credit Union | MA | SaveUp Savings | 1.35% | $5.00 min/No max | 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 |
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 | Inquiry | Review |
|---|---|---|---|---|---|
| Consumers Credit Union | Free Rewards Checking | 4.09% | $10,000 | Hard | Review |
| Blue Federal Credit Union | Extreme Checking | 3.50% | $15,000 | Soft | Review |
| Devon Bank | Kasasa Cash Checking | 3.50% | $10,000 | ? | Review |
| Evansville Teachers FCU | Vertical Dividend Checking | 3.30% | $20,000 | Soft | Review |
| Western Vista Credit Union | Panorama Checking | 3.25% | $15,000 | ? | Review |
| Market USA FCU | Platinum Tier Rewards Checking | 3.01% | $15,000 | ? | Review |
| Farmer State Bank | Loyalty Checking | 3.05% | $15,000 | ? | Review |
| UnionBank | 1-2-3 Rewards Checking | 3.05% | $25,000 | ? | Review |
| ECCU | Kasasa Cash | 3.00% | $10,000 | Soft | Review |
| INOVA Federal Credit Union | Shield Checking | 3.00% | $15,000 | ? | Review |
| Lake Michigan Credit Union | Max Checking | 3.00% | $15,000 | Hard | Review |
| Municipal Employees Credit Union | RewardChecking | 3.00% | $10,000 | ? | Review |
| Porte Bank | High-Yield Savings | 3.00% | $15,000 | ? | Review |
| Quoin Bank | Kasasa Cash Checking | 3.00% | $25,000 | ? | 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 |
| Sunstate Bank | Kasasa Cash Checking | 3.00% | $10,000 | ? | Review |
| Sullivan Bank | Kasasa Cash Checking | 3.00% | $10,000 | ? | Review |
| 22nd State Bank | Kasasa Cash | 2.50% | $25,000 | ? | Review |
| CapEd Credit Union | High Yield Checking | 2.50% | $10,000 | ? | 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 |
| Great Lakes Credit Union | Free Checking | 2.50% | $10,000 | ? | Review |
| The Bank of Denver | Kasasa Cash | 2.50% | $25,000 | Soft | Review |
| USE Federal Credit Union | Kasasa Cash | 2.50% | $10,000 | ? | Review |
| Garden Savings Federal Credit Union | Platinum Checking | 2.25% | $15,000 | ? | Review |
| Bellco Credit Union | Boost Interest Checking | 2.25% | $25,000 | ? | Review |
| Presidential Bank | Advantage 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 |
| Affiliated Bank | Kasasa Cash Checking | 2.00% | $50,000 | ? | Review |
| Signature Federal Credit Union | High Yield Checking | 2.00% | $20,000 | Soft | Review |
| Elements Financial | High Interest Checking | 2.00% | $20,000 | Soft | 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 |
| Main Street Bank | Kasasa Cash | 2.00% | $15,000 | ? | Review |
| Silver Lake Bank | Kasasa Cash Checking | 2.00% | $20,000 | ? | Review |
| TAB Bank | Kasasa Cash | 2.00% | $50,000 | Soft | Review |
| The Savings Bank | Kasasa Cash | 2.00% | $15,000 | Soft | 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 | Hard | Review |
| Partner Colorado Credit Union | High Interest Checking | 1.75% | $10,000 | Hard | Review |
| Finex Credit Union | Axcess Rewards Checking | 1.51% | $25,000 | ? | Review |
| Country Bank | Kasasa Cash | 1.50% | $20,000 | Soft | Review |
| Envision Bank | Envision Max | 1.50% | $25,000 | ? | Review |
| KS State Bank | Checking PLUS | 1.50% | $15,000 | ? | Review |
| One American Bank | Kasasa Cash | 1.50% | $10,000 | Soft | Review |
| Industrial Bank | Kasasa Cash | 1.47% | $15,000 | ? | Review |
| Heritage Bank | eCentive Account | 1.32% | $25,000 | Soft | Review |
| BankFirst | Kasasa Cash | 1.25% | $10,000 | ? | Review |
| Devon Bank | Kasasa Cash with Saver | 1.25% | $50,000 | ? | Review |
| Quontic Bank | High Interest Checking | 1.25% | $1,000,000 | ? | Review |
| America's Credit Union | Affinity Plus Checking | 1.01% | $25,000 | Soft | Review |
| All America Bank | Ultimate Rewards Checking | 1.00% | $10,000 | Soft | Review |
| Northwest Federal Credit Union | Kasasa Cash | 1.00% | $25,000 | ? | Review |
| Orion Federal Credit Union | Premium Checking | 1.00% | $10,000 | Hard | Review |
| Redneck Bank | Rewards Checking | 1.00% | $10,000 | ? | Review |
| Sullivan Bank | Kasasa Saver | 1.00% | $25,000 | ? | Review |
| XCEL Federal Credit Union | Kasasa Cash | 1.00% | $25,000 | ? | Review |
| Merchants Bank of Indiana | Money Market | 0.75% | $1,000,000 | ? | 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!
| PROMOTIONAL LINK | OFFER | REVIEW |
| Chase Business Complete BankingSM | $300 Cash | Review |
| HSBC Premier Checking Member FDIC | $450 Cash | Review |
| HSBC Premier Checking Member FDIC | Up To $600 | Review |
| Huntington 25 Checking | $300 Cash | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience CheckingSM | $150 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 |
| Axos Bank Basic Business Checking | $100 Cash | Review |
| Aspiration Spend & Save Account | $100 Cash | Review |
| Ally Invest | Up to $3,000 Cash | Review |
| BlockFi | Up To $250 BTC | Review |
| American Express High Yield Savings | 0.40% APY | Review |
| Discover Cashback Debit Account | $360 Cash | Review |
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