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 up to 0.70% 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 | Review |
|---|---|---|---|---|
| BrioDirect | Savings | 1.80% | No min/No max | Review |
| Bread Financial | High Yield Savings Account | 1.65% | No min/$1M max | Review |
| CFG Bank | Market Market Account | 1.65% | $25K min/No Max | Review |
| First Foundation Bank | Online Savings | 1.65% | $1K min/No max | Review |
| Bask Bank | Interest Savings | 1.61% | No min/No max | Review |
| Luana Savings Bank | Money Market Account | 1.56% | $2.5k min/No max | Review |
| Prime Alliance Bank | Personal Savings | 1.55% | $1 min/No max | Review |
| Merchants Bank of Indiana | Money Market Savings Account | 1.51% | No min/No Max | Review |
| SoFi ($325 bonus) | Checking & Savings Account | 1.50% | No min/No max | Review |
| Ivy Bank | High-Yield Savings | 1.50% | $2.5K min/No max | Review |
| Redneck Bank | Mega Money Market | 1.35% | $1K min/No max | Review |
| All America Bank | Mega Money Market® Checking | 1.35% | No min/$50K max | Review |
| iGObanking | Online Money Market | 1.30% | $25k min/No max | Review |
| Vio Bank | Market Market Account | 1.30% | No min/No Max | Review |
| BankPurely | PurelyMoneyMarket | 1.30% | $25k min/No max | Review |
| CIBC | Savings | 1.27% | $1K min/$1M max | Review |
| Langley Federal Credit Union | Money Market Account | 1.26% | $1M min/No max | Review |
| TAB Bank | High Yield Savings | 1.26% | $1 min/No max | Review |
| LendingClub | High-Yield Savings | 1.26% | $2.5K min/No max | Review |
| MyBankingDirect | High Yield Savings | 1.25% | $1 min/No max | Review |
| Fitness Bank | Savings Account | 1.25% | $100 min/No max | Review |
| USALLIANCE | High Dividend Savings | 1.25% | No min/No max | Review |
| Valley Direct Online Savings | Online Savings | 1.25% | $5k min/No max | Review |
| Rising Bank | Online High Yield Savings Account | 1.20% | $1k min/$1M max | Review |
| Varo | Online Savings Account | 1.20% | $0.01 min/No max | Review |
| Neighbors Bank | High-Yield Online Savings | 1.20% | $25K min/No max | Review |
| Sallie Mae Bank | Money Market | 1.20% | No min/No max | Review |
| AdelFi | Money Market Savings Account | 1.16% | $1k min/No max | Review |
| State Bank of Texas | Jumbo Money Market Account | 1.15% | $100K min/No max | Review |
| Connexus Credit Union | MMA | 1.11% | $100K min | Review |
| Barclays | Online Savings Account | 1.10% | $1 min/No max | Review |
| Kabbage | Checking Account | 1.10% | No min/ $100k max | Review |
| Sun East Federal Credit Union | MAX-Yield Money Market Savings Account | 1.10% | $5k min/$250K max | Review |
| Synchrony Bank | High Yield Savings | 1.10% | No min/No max | Review |
| Live Oak Bank | Savings | 1.05% | No min/No max | Review |
| Colorado Federal Savings Bank | Premier Savings | 1.05% | $50k min/No max | Review |
| Popular Direct | Select Savings | 1.05% | $5K min/No max | Review |
| SFGI | Direct Savings | 1.01% | No min/No max | Review |
| Citi | Savings | 1.01% | $1 min/No max | Review |
| Aspiration ($200 bonus) | Plus Account | 1.00% | No min/$10K max | Review |
| Patelco Credit Union | Money Market Select Account | 1.00% | No min/$2K max | Review |
| SkyOne Federal Credit Union | High Yield Savings | 1.00% | $1 min/No max | Review |
| T-Mobile Money | Checking Account | 1.00% | No min/No max | Review |
| Affinity Plus Federal Credit Union | Superior MMA | 1.00% | $500 min/$25K max | Review |
| Alliant Credit Union | High Yield Savings | 1.00% | No min/No max | Review |
| Colorado Federal Savings Bank | High Yield Savings | 1.00% | $1 min/No max | Review |
| Ally Bank | Online Savings Account | 1.00% | No min/No max | Review |
| Marcus by Goldman Sachs | Online Money Market | 1.00% | $2,500 min/$No max | Review |
| TotalDirectBank | Direct Money Market Deposit | 1.00% | $5k min/$500k max | Review |
| Bank Onward (bo) | Online Savings | 1.00% | $250 min/No max | Review |
| First Internet Bank | Money Market | 1.00% | $4K /No max | Review |
| Paramount Bank | High-Interest Checking | 1.00% | No min/$99,999.99 max | Review |
| ConnectOne Bank | Online Savings | 1.00% | $2.5K min/$250K max | Review |
| CommunityWide Fed Credit Union | High Rate Quarterly Fund Account | 0.80% | $1 min/No max | Review |
| Zynlo Bank | Money Market | 0.80% | No min/No max | Review |
| Comenity Direct | High Yield Savings | 0.75% | No min/$10 million max | Review |
| PenFed | Online Savings | 0.75% | No min/No max | Review |
| Gold Coast Bank | Money Market Account | 0.75% | $50K min/No max | Review |
| Western State Bank | High Yield Money Market | 0.75% | No min/$3M max | Review |
| BrioDirect | Money Market | 0.70% | No min/No max | Review |
| Smarty Pig | High Yield Savings | 0.70% | $2.5 min/$10k max | Review |
| Star One Credit Union | Money Market | 0.70% | $50 min/No max | Review |
| Affirm | Online Savings | 0.65% | No min/No max | Review |
| My e-Banc | SuperSaver Money Market Review | 0.70% | No min/No max | Review |
| Gateway First Bank Money Market | Money Market | 0.60% | $100k min/No max | Review |
| Vio Bank | High Yield Online Savings | 0.60% | No min/No max | Review |
| BankDirect | Money Market | 0.50% | $10k min/No max | Review |
| Chime ($100 bonus) | Checking Account | 0.50% | 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 |
|---|---|---|---|---|---|
| Workers Credit Union | MA | SaveUp Savings | 3.56% | $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 |
| Amboy Direct | NJ | eSavings Account | 1.01% | $1.00 min/$250,000 max | Review |
| Hanmi Bank | CA, IL, NJ, NY, TX, VA | Simple Savings | 1.00% | No min/no max | Review |
| Luana Savings Bank | IA | Money Market Account | 0.85% | $2,500 min/No max | Review |
| Advancial Premium | TX | Money Market | 0.81% | $1.00 min/$100,000 max | Review |
| Sharon Bank | DE, NJ, PA | Kasasa Saver | 0.75% | $50K min/No max | Review |
| Home Loan Investment Bank | RI, MA | Premier Savings | 0.50% | $50k minimum to earn high rate | 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 |
| Bogota Savings Bank | NJ | Anniversary Money Market | 0.35% | $75K min/No 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 | Review |
|---|---|---|---|---|
| Gesa Credit Union | SmartPlus Checking | 5.00% | $5,000 | Review |
| Consumers Credit Union | Free Rewards Checking | 4.09% | $10,000 | Review |
| Elements Financial | High Interest Checking | 4.00% | $20,000 | Review |
| First United Credit Union | Rewards Checking | 4.00% | $10,000 | Review |
| Evansville Teachers FCU | Vertical Dividend Checking | 3.30% | $20,000 | Review |
| Bank of Missouri | Kasasa Cash Checking | 3.05% | $15,000.99 | Review |
| Tensas State Bank | Kasasa Cash Checking | 3.05% | $10,000 | Review |
| Market USA FCU | Platinum Tier Rewards Checking | 3.01% | $15,000 | Review |
| Security Bank of Crawford | Rewards 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 |
| Sullivan Bank | Kasasa Cash Checking | 3.00% | $10,000 | Review |
| Western Vista Credit Union | Panorama Checking | 2.53% | $15,000 | Review |
| WCCU Credit Union Awards | Awards Checking | 2.50% | $20,000 | 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% | $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 |
| 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 |
| AndgioCredit Union | High-Yield Checking | 2.09% | $10,000 | Review |
| FAB&T | Prime Checking | 2.05% | $30,000 | Review |
| Hiway Federal Credit Union | Hi Yield Checking | 2.02% | $25,000 | Review |
| TruStone Financial Federal Credit Union | TruRate Checking | 2.02% | $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 |
| Blue Federal Credit Union | Extreme Checking | 2.00% | $15,000 | Review |
| CapEd Credit Union | High Yield Checking | 2.00% | $10,000 | Review |
| Buckeye State Bank | Kasasa Cash | 2.00% | $15,000 | Review |
| Farmers State Bank | Loyalty Checking | 2.00% | $15,000 | 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 |
| Sharon Bank | Kasasa Cash Checking | 2.00% | $10,000 | Review |
| Silver Lake Bank | Kasasa Cash Checking | 2.00% | $20,000 | Review |
| The Bank of Denver | Kasasa Cash | 2.00% | $10,000 | 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 |
| TAB Bank | Kasasa Cash | 1.50% | $25,000 | Review |
| Garden Savings Federal Credit Union | Platinum Checking | 1.50% | $15,000 | Review |
| MCT Credit Union | Kasasa Cash | 1.50% | $20,000 | Review |
| KS State Bank | Checking PLUS | 1.50% | $15,000 | Review |
| Signature Federal Credit Union | High Yield Checking | 1.50% | $20,000 | Review |
| Industrial Bank | Kasasa Cash | 1.47% | $15,000 | Review |
| BankFirst | Kasasa Cash | 1.25% | $10,000 | Review |
| Security Federal Bank | Kasasa Cash | 1.25% | $10,000 | Review |
| GCS Credit Union | Simply More Checking | 1.25% | $10,000 | Review |
| Heritage Bank | eCentive Account | 1.02% | $25,000 | Review |
| Envision Bank | Envision Max | 1.01% | $25,000 | Review |
| Flora Bank & Trust | First Reward Checking | 1.01% | $20,000 | Review |
| Redneck Bank | Rewards Checking | 1.00% | $10,000 | Review |
| All America Bank | Ultimate Rewards Checking | 1.00% | $10,000 | Review |
| Northwest Federal Credit Union | Kasasa Cash | 1.00% | $25,000 | Review |
| One American Bank | Kasasa Cash | 1.00% | $10,000 | Review |
| Orion Federal Credit Union | Premium Checking | 1.00% | $10,000 | Review |
| XCEL Federal Credit Union | Kasasa Cash | 1.00% | $25,000 | Review |
| First Security Bank & Trust | Kasasa Cash | 0.80% | $15,000 | Review |
| America's Credit Union | Affinity Plus Checking | 0.75% | $25,000 | Review |
| Country Bank | Kasasa Cash | 0.75% | $20,000 | Review |
| Pelican State Credit Union | Kasasa Saver | 0.75% | $50,000 | Review |
| Bay State Savings Bank | Kasasa Cash | 0.75% | $20,000 | 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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