Best Savings Accounts Online

Best Savings Accounts Online explained by professional Forex trading experts the “ForexSQ” FX trading team, Finding out all about the Best Savings Accounts Online in the world.

Best Savings Accounts Online

I’ve tracked rates on deposit accounts for more than 30 years. In 1982, my bank was paying me 16% on a 6-month CD! Savers were afraid to lock in longer term CDs for fear that rates would rise. Those days are long gone in more ways than one.

Today, It’s no secret that savings account rates are historically low. There are signs, however, that things are beginning to turn around. Today’s online-only savings accounts offer higher interest rates than their brick-and-mortar counterparts. And the good news is that some of these online savings accounts have recently increased their rates.

Several websites track savings rates, including Bankrate and Consumerism Commentary. I’ve pulled from these and other resources to find some of the highest rates available nationally. If you’re looking for a new place to stash some cash for an emergency or a specific savings goal, check out these online account options (Note: Financial institutions marked with an astericks advertise on one or more of my websites).

PurePoint Financial

A division of MUFG Union Bank, N.A., PurePoint is a leader in savings rates for a national bank. It currently offers an online savings rate of  1.40% APY. That rate does require a $10,000 minimum deposit to open an account. There are no monthly fees.


This online bank raised its High Yield Savings Account rate to 1.30% APY recently. It’s not a big bump, but it’s better than nothing. The FDIC-insured accounts have no minimum monthly balance or service fee. You can withdraw money online or with an ATM card (though fees may apply). And the rate is standard, regardless of your deposit amount or how long you leave money in your account.


The rate on the Barclays Online Savings Account used to be around 1.00%, so they’ve recently seen a big jump to 1.30%. Again, this account has no minimum balance to open and no monthly minimum deposit.

If you’re looking to save big for a particular goal, consider the Dream Account, which now has the same 1.15% APY. You can deposit up to $1,000 per month into this account. When you make consecutive deposits for six months, you’ll get a 2.5% bonus on earned interest. You can get another 2.5% bonus if you don’t make any withdrawals for six months.


CIT offers a savings account with a 1.35% APY. It requires at least $100 to open a new accounts. There are no fees to open or maintain the account, and interest compounds daily.


Ally has long been a favorite among online savings account options. And it recently increased its rates to 1.25%. The Ally Online Savings account offers no monthly fees, remote check deposit, and daily interest compounding.

GS Bank

Goldman Sachs online bank is a relative newcomer in the world of online banking. It only opened GS Bank last April. Early in June, it increased its online savings account rates to 1.30%, putting it near the head of the pack as far as online interest rates go. It has no minimum deposit, interest compounded daily, and no transaction fees.

Discover Bank

At the beginning of this year, Discover Bank’s online savings account offered .95% APY. Now that rate is up to 1.20%. The account has no minimum deposit, no monthly fee, and no minimum monthly balance. Interest is compounded daily and paid monthly. You can transfer money easily between Discover accounts or between this account and outside accounts, as well.

Making the Best of Still-Low Rates

While these banks have increased rates this year, don’t expect serious spikes anytime soon. It will likely be a while before we get back to the 5%+ APYs we saw a decade ago. With that said, it’s always best to take advantage of the highest interest rate you can.

Keep in mind that rates can and do change frequently. For up to the minute rates, check out my site, Dough Roller.

Best Savings Accounts Online Conclusion

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