If you do not want to invest or risk your money in the stock market, a high-yield online savings account is a great way to put your money to work for you without risking it in the stock market.
Choose the best interest rates for your account balance. Check for deposit minimums to get the best yields and monthly fees if the balance falls below a certain amount. Fees cancel out the benefits of high-interest rates. The rates are variable, which means that they can change over time. Here is a Simple Savings Calculator that can help you understand how your money can grow.
Below are a few to check out.
- Ally – Grow with an online savings account.
- American Express National Bank – You can get more out of your savings with an American Express® Personal Savings High Yield Savings Account.
- Barclays Online Savings – Banking offers high-yield savings accounts and CDs with no minimum balance to open.
- CIT Bank – Open a Flexible Money Market. Access your funds when you need them. Member FDIC. CIT Bank® Committed To Growing Your Savings Securely. No Monthly Fees. Easy Access. Fast Deposits/Withdrawals. FDIC Insured. No Maintenance Fees. Easy Access to Funds.
- Discover Online Savings – No. Fees. Period.
- HSBC Direct Savings – Grow your money at 18X the national savings average when you open an online-only HSBC Direct Savings account.
- Marcus – Online Savings, CDs & No-Fee Personal Loans.
- Synchrony – CD, Money Market, and High Yield Savings.
- UFB Direct – Elevate your savings rate with our High-Yield Savings account or a Premium Money Market account.
- Varo – High-Yield Savings. No Minimum Balance. Free Debit Card. Easy Tools That Help You Save Automatically. No Overdraft Fees.
- Vio Bank – offers High Yield Savings accounts and certificates of deposit with some of the greatest rates in the nation, allowing you to save for retirement.