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!
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 1.00% 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 |
|---|---|---|---|---|
| BluPeak Credit Union | Preferred Savings | 5.33% | $25 min/No max | Review |
| CloudBank 24/7 | High Yield Savings | 5.26% | $1 min/No max | Review |
| Hanover Bank | Money Market | 5.26% | $1 min/No max | Review |
| OptimumBank | Money Market Deposit | 5.26% | $1 min/No max | Review |
| TotalDirectBank | Direct Money Market | 5.26% | $2.5K min/$500K max | Review |
| Pacific Western Bank | Market Market Account | 5.25% | $1K min/No max | Review |
| Harborstone Credit Union | Market Market Account | 5.25% | $1K min/No max | Review |
| Evergreen Bank Group | High Yield Savings | 5.25% | $100 min/No Max | Review |
| Fierce Finance | Cash Account | 5.25% | No min/No max | Review |
| Milli Bank | Savings | 5.25% | No min/No max | Review |
| Newtek Bank | High Yield Savings | 5.25% | No min/No max | Review |
| Valley Direct | Online Savings | 5.25% | No min/No max | Review |
| Vio Bank | Money Market Account | 5.25% | No min/No Max | Review |
| SkyOne Federal Credit Union | Money Market | 5.24% | $1 min/No max | Review |
| Patriot Bank | Money Market | 5.22% | $1 min/No max | Review |
| State Bank of Texas | Jumbo Money Market Account | 5.22% | $100K min/No max | Review |
| Republic Bank | Digital Money Market | 5.21% | $2500 min/No max | Review |
| Grand Bank | Market Market Account | 5.20% | $1K min/No max | Review |
| CFG Bank | Market Market Account | 5.20% | $1K min/No max | Review |
| Modern Bank | High Yield Money Market | 5.20% | $100K min/No max | Review |
| Popular Direct | High-Rise Savings | 5.20% | $5K min/No max | Review |
| GreenState Credit Union | High Yield Savings | 5.16% | $1 min/No max | Review |
| Blue Federal Credit Union | Money Market Deposit | 5.15% | No min/No max | Review |
| Ponce Bank | Money Market | 5.15% | $1 min/No max | Review |
| FNBO Direct | Online Savings | 5.15% | $1 min /$1M max | Review |
| RBMAX | Max Interest Savings | 5.15% | No min/$249,999.99 max | Review |
| Western State Bank | High Yield Money Market | 5.15% | No min/No max | Review |
| Mission Valley Bank | High Yield Savings | 5.12% | $1 min/No max | Review |
| BMO Bank | Online Savings | 5.10% | No min/No max | Review |
| Blue | Savings | 5.10% | No min/No max | Review |
| Upgrade | Premier Savings | 5.07% | $1K min/No max | Review |
| Primis Bank | Savings | 5.07% | $1 min/No max | Review |
| Primis Bank | Premium Checking | 5.07% | $1 min/No max | Review |
| CIT Bank | Platinum Savings | 5.05% | No min/No Max | Review |
| All America Bank | Mega Money Market | 5.05% | No min/$100K max | Review |
| BankPurely | PurelyMoneyMarket | 5.05% | $25K min/No max | Review |
| iGObanking | Online Money Market | 5.05% | $25K min/No max | Review |
| Redneck Bank | Mega Money Market | 5.05% | No min/$100K max | Review |
| Lemmata Savings Bank | Money Market | 5.03% | $1 min/No max | Review |
| Merrill | Preferred Deposit | 5.02% | $100K min/No max | Review |
| TAB Bank | High Yield Savings | 5.02% | $1 min/No max | Review |
| My eBanc | SuperSaver Money Market | 5.01% | $100K min/No max | Review |
| My eBAnC | eRelationship Savings | 5.01% | $100K min/No max | Review |
| Salem Five Direct | eOne Savings | 5.01% | No min/$1M max | Review |
| StagePoint Federal Credit Union | Money Market | 5.00% | $1 min/No max | Review |
| Great Lakes Credit Union | Money Market Deposit | 5.00% | No min/No Max | Review |
| M1 | High Yield Savings | 5.00% | No min/No max | Review |
| Quontic Bank Money Market | Money Market | 5.00% | No min/No max | Review |
| Bask Bank | Interest Savings | 5.00% | No min/No max | Review |
| Laurel Road | High Yield Savings | 5.00% | No min/$2M max | Review |
| Bread Financial | High Yield Savings | 5.00% | No min/$1M max | Review |
| Dollar Savings Direct | Savings Account | 5.00% | No min/No Max | Review |
| First Foundation Bank | Online Savings | 5.00% | No min/No max | Review |
| Juno | Juno Account | 5.00% | No min/$250K max | Review |
| Merchants Bank of Indiana | Money Market Savings Account | 5.00% | No min/No max | Review |
| Morgan Stanley | Preferred Savings | 5.00% | $1K min/No max | Review |
| MyBankingDirect | High Yield Savings | 5.00% | $1 min/No max | Review |
| EverBank | Savings | 5.00% | $25 min/No max | Review |
| VirtualBank | eMoney Market | 5.00% | No min/No max | Review |
| Zynlo Bank | Money Market | 5.00% | No min/$250K max | Review |
| Northern Bank Direct | Money Market Premier | 4.95% | No min/$250K max | Review |
| Robinhood | Cash Sweep | 4.90% | No min/No max | Review |
| First Mid Bank & Trust | High Yield Savings | 4.80% | $1 min/No max | Review |
| Ivy Bank | High-Yield Savings | 4.80% | $2.5K min/$1M max | Review |
| Wealthfront | Cash | 4.80% | No min/No max | Review |
| iGObanking | iGOindexmoneymarket | 4.78% | $25K min/No max | Review |
| CIBC | Savings | 4.76% | $1 min/$1M max | Review |
| Connexus Credit Union | MMA | 4.76% | $1M min/No max | Review |
| Betterment | Cash Reserve | 4.75% | No Min/No max | Review |
| Fitness Bank | Savings Account | 4.75% | $100 min/$250K max | Review |
| Sallie Mae Bank | Money Market | 4.75% | No min/No max | Review |
| Synchrony Bank | High Yield Savings | 4.75% | No min/No max | Review |
| EverBank | Money Market | 4.75% | $500/No max | Review |
| mph.bank | Money Market | 4.70% | $1 min/No max | Review |
| Empower | Cash Account | 4.70% | No min/No max | Review |
| CIT Bank | Savings Connect | 4.65% | No min/No max | Review |
| Brilliant Bank | Money Market Account | 4.65% | $1K min/$500K max | Review |
| Jovia Financial Credit Union | Online Savings | 4.65% | $4.95 min/No max | Review |
| USALLIANCE | High Dividend Savings | 4.65% | No min/No max | Review |
| Styl | Savings | 4.63% | No min/No Max | Review |
| Liberty Savings Bank Savings | High-Yield Savings | 4.60% | $1 min/No max | Review |
| Quontic Bank | High Yield Savings | 4.50% | No min/No max | Review |
| SoFi ($275 bonus) | Savings Account | 4.50% | No min/No max | Review |
| Citizens Access | Online Savings | 4.50% | No min/No max | Review |
| LendingClub | High-Yield Savings | 4.50% | No min/No max | Review |
| Prime Alliance Bank | Personal Savings | 4.50% | No min/No max | Review |
| Prime Alliance Bank | Personal Money Market | 4.50% | No min/No max | Review |
| Quorum Federal Credit Union | High-Yield Savings | 4.50% | $10K min/No max | Review |
| Rising Bank | High Yield Savings | 4.50% | $1K min/$1M max | Review |
| Sallie Mae Bank | High Yield Savings | 4.50% | No min/No max | Review |
| Colorado Federal Savings Bank | Premier Savings | 4.45% | $50K min/No max | Review |
| Continental Bank | High Yield Savings | 4.41% | No min/No max | Review |
| Ally Bank | Money Market | 4.40% | No min/No max | Review |
| Colorado Federal Savings Bank | High Yield Savings | 4.40% | $1 min/No max | Review |
| Marcus by Goldman Sachs | Online Savings | 4.40% | No min/$3M max | Review |
| Modern Bank | Premier Money Market | 4.40% | $1K min/No max | Review |
| CNB Bank Direct | Premium Money Market | 4.39% | $25K min/$2M max | Review |
| Affirm | Online Savings | 4.35% | No min/No max | Review |
| b1BANK | High Yield Savings | 4.35% | No min/No max | Review |
| Barclays | Online Savings Account | 4.35% | $1 min/No max | Review |
| MySavingsDirect | MySavings | 4.35% | No min/No max | Review |
| Discover Bank ($200 Bonus) | Online Savings | 4.30% | No min/No max | Review |
| Capital One 360 | Performance Savings | 4.30% | No min/No Max | Review |
| CFBank | Money Market Account | 4.30% | $25K min/No max | Review |
| Paypal | Savings | 4.30% | No min/No max | Review |
| Third Federal | Online Savings Plus | 4.30% | $5K min/No max | Review |
| CNB Bank Direct | High Yield Savings | 4.28% | $1 min/No max | Review |
| SFGI Direct | Online Savings | 4.26% | $1 min/No max | Review |
| American Express® | High Yield Savings account | 4.25% APY as of 8/18/23 | No min/$5M max | Review |
| Discover Bank | Money Market | Up to 4.25% | $100K min/No max | Review |
| Ally Bank | Online Savings | 4.25% | No min/No max | Review |
| ConnectOne Bank | Online Savings | 4.25% | $2.5K min/No max | Review |
| E*Trade | Premium Savings | 4.25% | No min/No max | Review |
| Langley Federal Credit Union | Money Market Account | 4.25% | $1M min/No max | Review |
| Quorum Federal Credit Union | HighQ Savings | 4.25% | No min/No max | Review |
| Smarty Pig | High Yield Savings | 4.25% | No min/No max | Review |
| Idabel National Bank | Money Market | 4.20% | $1 min/No max | Review |
| First Foundation Bank | Online Money Market | 4.20% | No min/No max | Review |
| Live Oak Bank | Savings | 4.15% | No min/No max | Review |
| Credit Karma | High Yield Savings account | 4.10% | No min/No max | Review |
| MututalOne Bank | Mo Premium Savings | 4.07% | $20K min/No max | Review |
| EmigrantDirect | Savings Account | 4.00% | No min/No Max | Review |
| Lafayette Federal Credit Union | Premier Savings | 3.80% | $50K min/No max | Review |
| First Internet Bank | Money Market | 3.76% | $4K min/$1M max | Review |
| Chevron Federal Credit Union | MarketEdge Savings | 3.75% | $2.5K min/No max | Review |
| Spectrum Credit Union | MarketEdge Money Market Savings | 3.75% | $2.5K min/No max | Review |
| American Heritage Credit Union | High Yield Savings | 3.55% | $10K min/No max | Review |
| Affinity Plus Federal Credit Union | Superior MMA | 3.50% | No min/$25K max | Review |
| Luana Savings Bank | Money Market Account | 3.35% | $750K min/No max | Review |
| Northpointe | Money Market | 3.25% | $25K min/$3M max | Review |
| Northpointe | Ultimate Savings | 3.25% | $25K min/$2M max | Review |
| Paramount Bank | High-Interest Checking | 3.25% | No min/$100K max | Review |
| Alliant Credit Union ($100 Bonus) | High Yield Savings | 3.10% | No min/No max | Review |
| PenFed | Online Savings | 3.00% | No min/No max | Review |
| Varo | Online Savings Account | 3.00% | No min/No max | Review |
| T-Mobile Money | Checking Account | 2.50% | No min/No max | Review |
| The Federal Savings Bank | Virtual Money Market | 2.50% | $2K min/$1M max | Review |
| Synchrony Bank | Money Market | 2.25% | No min/No max | Review |
| Chime ($100 bonus) | Savings Account | 2.00% | No min/No max | Review |
| Bethpage Federal Credit Union | Money Market | 2.00% | $500 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 |
|---|---|---|---|---|
| Consumers Credit Union | Free Rewards Checking | 5.00% | $10,000 | Review |
| Gesa Credit Union | SmartPlus Checking | 5.00% | $5,000 | Review |
| Orion Federal Credit Union | Premium Checking | 5.00% | $10,000 | Review |
| Elements Financial | High Interest Checking | 4.00% | $20,000 | Review |
| First United Credit Union | Rewards Checking | 4.00% | $10,000 | Review |
| Ideal Credit Union | High Yield Checking | 4.00% | $20,000 | Review |
| Signature Federal Credit Union | High Yield Checking | 3.50% | $20,000 | Review |
| Evansville Teachers FCU | Vertical Dividend Checking | 3.30% | $20,000 | Review |
| Bank of Missouri | Kasasa Cash Checking | 3.05% | $15,000 | 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 |
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!
