Typical FDIC insurance covers $250,000 per institution, but M1 offers up to $5 million in FDIC coverage through its network of insured institutions.

M1’s High-Yield Savings Account is best for customers who plan to keep a high balance in their savings account. M1 High-Yield Savings Account: Best for High Balances Bask Bank’s Interest Savings account is a straightforward account with no monthly fees, no minimum balance requirements and a competitive interest rate on any balance. If you prioritize ease of use and high interest over an abundance of features, this account should be on your radar. Bask Interest Savings Account: Best for Simple High-Yield Savings Plus, you’ll earn one of the highest savings rates available. With Milli Savings Jars, you can create and customize up to five different savings goals.

Milli’s savings account is best for those who are working toward multiple savings goals. Milli Savings Account: Best for Separate Savings Goals See below to learn why we picked each account, including its pros and cons, and to access individual bank reviews.Īnnual percentage yields (APYs) and account details are accurate as of December 4, 2023.

SoFi Checking and Savings Account: Up to 4.60% APY.

Synchrony Bank High Yield Savings: 4.75% APY.

M1 High-Yield Savings Account: Up to 5.00% APY.

BMO Alto Online Savings Account: 5.10% APY.

Bask Interest Savings Account: 5.10% APY.

Bread Savings High-Yield Savings Account: 5.15% APY.

Here’s a summary of our top accounts organized by the highest APY that one could get. Best Online High-Interest Savings RatesĪnnual percentage yield (APY) was a main factor, but not the only factor considered when building our list of the best accounts.

We compared 73 online savings accounts at 53 nationally available banks and credit unions to find some of the best high-yield savings accounts available.

Bank direct term deposit rates