10 Savings Accounts With The Best APY

Blog | November 13th, 2018

Gone are the days of throwing your cash under a mattress to save it. The biggest driver behind growing your savings will be the compound interest that you accrue. To that end, here are 10 of the highest earning savings accounts you can consider opening today.



There are many considerations as to what the best savings account is for your needs. Synchrony not only currently offers a really high 2.05% APY for theirs, but they also provide a safe place to store your money that’s FDIC insured.

Synchrony is an online bank that offers unique access to your money. Not only do you get an ATM card to use for withdrawals, but you can also actually deposit money into your savings at qualifying ATMs.



Ally has developed as a top option for online banking. With their savings account, you’ll get an account with 1.90% APY that has no minimum deposit. Their accounts consistently return higher interest rates. You also have the convenient option of opening a free checking account with them that you can use to transfer funds seamlessly between accounts.

High rated customer service and same day transfers through Zelle round out this top-notch savings option.



It’s no surprise that Marcus, an enterprise backed by Wall Street mogul Goldman Sachs, has a savings account carrying one of the highest returns on the market. The high yield account will currently bring you a 2.05% return. Goldman Sachs is pretty gung-ho about developing and expanding Marcus, so will look to maintain its high rate for years to come.



CIT may sound unfamiliar, but it’s actually a pretty large bank with over $50 billion in assets. Their fantastic savings builder account is for those committed to consistently saving every month. To earn it’s high 2.15% APY, you need $100 to open the account and then you need to make a deposit of at least $100 every month. If you don’t want to do that, you’ll need to maintain a minimum daily balance of $25,000. For someone who needs an incentive to consistently save this account is worth strong consideration.


Popular Direct

If you have some money that you want to commit to a higher rate account, Popular Direct could be a good option. For new accounts, you can get a really high 2.26% APY on a deposit of $5,000 or more. After that, you only need to maintain a $500 daily balance to avoid a monthly fee. Transferring funds can be slower than most of these other accounts because you need to do it by ACH transfer, but if you’re looking to just put your money away and leave it there then this is definitely a top option.


Related Story: 9 Useful Smartphone Apps That Can Help You Save


Citizens Access

Citizens Access is a strictly online banking subsidiary of the well known Citizens Bank, so you know it’s well funded. They created the division to offer savers high yield savings like the 2.25% you can currently earn. While there are no fees, in order to get that high percentage rate you need to maintain a $5,000 balance minimum. Otherwise, your APY drops to a very low rate.


HSBC Direct

HSBC Direct is another example of a fantastic online savings account backed by one of the biggest banking giants. The low cost of entry account, (you’ll only need $1 to open it and it has no monthly fees,) will earn you a high rate of 2.01% return. The only small catch is the initial money you deposit into the account must be from an outside source, not an existing HSBC account.



High APY. No fees. No minimum to open. FDIC insured to the maximum amount. The British must have a knack at saving because that’s what you’ll get with a Barclays online savings account. The high 2.05% APY will grow your money, and you’ll be able to manage it through their up-to-date, and an easy-to-use online system.


American Express

Isn’t American Express a credit card company? Well, yes, but they’re also making a grand entrance into the world of savings with an online savings account that yields 1.90% APY. Also, their account has no fees and no minimum balance to open. It also links easily to your existing bank accounts for easily moving your money.



While some may be comforted by accounts backed by big banking, others may prefer something backed by a credit union like Alliant. Not only are they one of the largest credit unions in the country, but their savings account will also give you a high 1.95% return and a superb online and mobile experience. Alliant also offers ATM access to the account, which is a great perk for those who need easy access to their money.