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Best Online Banks For Savings Accounts
Best online savings accounts with highest yield APY rates from top rated U.S. banks: Capital One 360, USAA, Discover, BBVA.
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Discover Savings Account Interest Rate And Offering
- 0.95% APY
- Earn over 5X the National Savings Average
- Low $500 minimum opening deposit
- No minimum balance or monthly maintenance fees
- Fund your savings account online from an existing bank account
- Manage your savings account on the website or with a mobile banking app
- Fast and free online money transfers
Discover Savings Account Review
Discover Bank being an online-only bank has been able to provide some of the highest interest rates on all banking products. Because they don't
have physical locations, they are also able to cut on all the fees traditional brick and mortar banks are charging to boost their bottom line.
Thanks to the highest interest rate, Discover Bank currently has the best online savings account in 2024.
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Capital One 360 Savings Account Interest Rate And Offering
- No changing banks — the Orange Savings Account is linked to your existing checking account
- Access your account instantly from your smart phone or online
- No Fees
- No Minimums
- Over 7.5 million savers
- No changing banks - it electronically links to your current checking account. Transfers are free and easy.
- 24/7 accessibility, 24/7 security
- Account access for up to three people
- Quick application - start saving in less than 5 minutes
- FDIC insured up to $250,000 per depositor
Capital One 360 Savings Review
Capital One Orange savings account inherited high interest rates from the original company that created it, Holland's largest bank called ING. This
banking product is an online only account where customers do all of their banking activity through the website. If problems or questions arise
clients can always contact customer service over the phone or through email. As with other top online savings accounts on this list there are very few
fees to worry about.
Read full Capital One 360 savings review.
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BBVA Money Market Account Interest Rate And Offering
- 0.65% APY
- Earns tiered interest rates
- Only $25 is required to open an account
- $15 monthly fee which could be waived if
- $10,000 daily balance OR
- there is an automatic monthly transfer of at least $25 from a BBVA Compass checking account to your savings account
BBVA Money Market Account Review
BBVA money market account offers high guaranteed interest rates on customer money. Their interest rates beat all short term CD rates while offering a
liquidity and easy access to cash that CDs lack but which is provided by the traditional money market account. Customers could avoid a $15 monthly charge by having at least $10K
account balance or by setting up a monthly transfer to their account of at least $25.
Read full BBVA money market review.
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USAA Bank Savings Account Interest Rate And Offering
- 0.30% APY on balances $50,000
- 0.25% APY on balances $25,000 - $49,999
- 0.20% APY on balances $10,000 - $24,999
- 0.05% APY on balances $0 - $9,999
- FDIC insured for $250,000
USAA Savings Account Review
Last but not least on our list of best online savings accounts, USAA bank offers the following features in their savings account options:
No Service Fees – Financial institutions regularly impose small maintenance fees for their savings accounts; this is not the case for USAA, who is able to provide a no-fee account with a minimum account opening balance of $25.
ATM Fees – USAA will refund up to $15 in other banks ATM fees every month; the firm does not charge fees for the first 10 ATM withdrawals.
Tiered Interest Rates – The more you save, the more interest you earn. USAA offers two types of savings accounts: USAA Savings and USAA Performance First. Listed below are the interest rates you can expect for each given account type:
Read full USAA Performance First savings review.
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