Are you tired of getting ripped off by your old bank? Are you looking to maximize the return on your savings account? If so, then keep reading! We have scoured the web to bring you the best interest rates possible for your savings account (Best Online Banks for Savings Accounts).
Everbank is paying new accountholders a 2.25% introductory rate for opening up a YieldPledge Money Market Account. This rate will last for 3 months and then the interest rate will drop to 1.51% for the rest of the year. This is easily the best yield going for an online savings account. All you need is $1,500 to open an account and you are on your way to saving big bucks.
Everyone knows that Sallie Mae is one of the biggest lenders in the United States for students going to college. But you may not have known that Sallie Mae offers bank accounts as well. Open a Sallie Mae high yield savings account and receive 1.40% APY. That’s one of the highest rates in the country. There is no minimum deposit to get started.
Wouldn’t it be nice to actually make money off of a credit card company? You can do that at Discover Bank. Discover bank is offering 1.35% APY for all account holders. All you need to open an account is a $500 initial deposit.
Capital One Bank
Capital One is not just about credit card anymore. Capital One offers checking accounts, savings accounts, and high yielding certificates of deposit. The minimum deposit is pretty steep at $2,500 but the interest is excellent at 1.35%.
American Express Bank
Membership really does have its privileges at American Express. This no longer just applies to Amex Credit Cards and the Black Card. American Express has joined the banking business with its high yield savings account. This account pays 1.30% interest and has no minimum deposit requirement.
Colorado Federal Savings Bank
Colorado Federal Savings Bank is offering a 1.30% APY to new account holders. The minimum account deposit is $2,500 and accounts are open to all US residents.
You may know Ally Bank under its old name GMAC Bank. General Motors Acceptance Corp changed the bank’s name when GM went through its financial problems a few years ago. You can rest comfortably with your money in Ally Bank. All accounts are FDIC insured. The minimum deposit is $0 and you can currently get 1.29% interest on a savings account.