Here is a list of the best online savings accounts in the United States as of January 2020. VIO Bank offers the best high-yield savings account in the U.S. according to our study. Rates and Annual percentage yields (APYs) are effective as of January 20, 2020.
Vio Bank - 1.95% APY, $100 minimum deposit to open, no monthly fees
Headquartered in Oklahoma City, Vio offers high yield online savings account with an APY of 1.95 percent on all balances and six free withdrawals per monthly statement cycle. It also offers high yield online certificates of deposit (CDs) with 1.65%-1.80% APYs. Each depositor is insured by FDIC to at least $250,000. Vio Bank is unavailable to residents of Hawaii and Alaska. The company operates as an online division of MidFirst Bank.
Customer service: 888 999 9170
Monday - Friday, 7 am - 9 am
Saturday, 8 am - 6 am, Sunday, 12 am - 4 am
Routing Number: 303087995
Rising Bank - 1.90% APY, $1K minimum deposit to open, max $500K, no monthly maintenance fees
Located in Lemay, St. Louis County, Missouri, it was launched in 2018 and operates as an online banking subsidiary of Midwest BankCentre, a community banking leader. It offers Online High Yield Savings Account with an APY of 1.90 percent and maximum account balance of $500,000. It also provides Term CDs, Jumbo CDs and Rising CDs. All deposits are insured by FDIC.
Phone: 1 888 222 9484
Rising Bank routing number (ABA number): 081000676
Popular Direct - 1.90% APY, $5,000 minimum deposit, $4 monthly fees
Popular Direct offers Ultimate Savings Account with a 1.90% APY as well as 60 month CD with a 2.26% APY. It operates as an online division of Popular Bank which is the U.S. subsidiary of Popular Inc, a financial services company with a presence in the United States, the Caribbean, Virgin Islands and Puerto Rico.
Routing number: 113007835
WebBank - 1.86% APY, $1K minimum account balance, no monthly service charge
Located in Salt Lake City, Utah, WebBank is a state-chartered industrial bank with about 120 employees, $900 million in assets, $690 million in loans, $700 million in deposits and net income of $45 million. It operates as a division of WebFinancial Holding Corporation. WebBank is the national issuer of personal, small business and auto refinance loans via the LendingClub platform. It is also the issuer of PayPal business and PayPal working capital loans, Dell business cards and Dell preferred accounts, Zerocard Mastercard credit cards and opened-end revolving credit card accounts (in partnership with Yamaha Motor Finance).
Phone: 1 844 994 2265
Routing number: 124384589
CIBC Bank USA - 1.85% APY, minimum deposit of $1,000, no monthly account maintenance fees
Headquartered in Chicago, Illinois, CIBC Bank USA is a member of FDIC and is a wholly-owned subsidiary of Imperial Bank of Commerce, a Canadian financial services group. It offers CIBC Agility Online Savings Account with an APY of 1.85 percent. The minimum balance to obtain the annual percentage yield is $0.01. The minimum opening deposit cannot exceed $250K. The account balance cannot exceed $1M.
Phone: 844 704 7882
Routing Number: 071006486
MySavingsDirect - 1.80% APY, no minimum balance, no monthly fees
MySavingsDirect is an online division of Emigrant Bank, a New York based financial institution established by Irish emigrants in 1850 as a mutual bank. It offers high interest savings account with no fees and minimums, and annual percentage yield of 1.80%.
Toll-Free number: 877 752 1919
8 am - 11:30 pm, seven days a week
Outside the US: 1 914 923 6716
Routing/Transit number: 226070403
CIT Bank - 1.80% APY, $100 minimum to open an account, no monthly fees
Based in Pasadena, California, it is an online bank serving customers only through an internet. CIT is among the top 10 online banks according to our ranking. It offers Savings Builder Account with a 1.80% APY. You need maintain a balance of $25,000 or more to earn highest interest rate. It also provides money market accounts, premier high yield savings accounts, term CDs, jumbo CDs, RampUp plus and RampUp CDs, no-penalty CDs, home loans and other products. All CIT’s deposits are insured by the Federal Deposit Insurance Corporation.
Phone: 1 855 462 2652
Routing number: 124084834
Citizens Access - 1.85% APY, $5,000 minimum deposit, no fees for anything
It is an online banking platform launched in 2018 by Citizens Bank, National Association. It offers Smarter Online Savings Account with a 1.85% APY for balances of $5K or more as well as online CD account (1 year) with a 2.10% APY. Citizens Bank is headquartered in Providence with branches in Delaware, Massachusetts, Connecticut, New Hampshire, Vermont, New York, Rhode Island, Pennsylvania and New Jersey. John Rosenfeld is President of Citizens Access and Bruce Van Saun is Chairman and Chief Executive Officer (CEO) of Citizens Financial Group.
Toll Free Call: 1-888-201-6505
Monday - Friday, 8 am - 10 pm ET
Saturday 9 am - 3 pm, Sunday 10 am - 3 pm
Routing transit number (ABA): 011601443
PurePoint Financial - 1.80% APY, $10,000 minimum deposit to open, max $3 million, no monthly fees
PurePoint is an online direct bank operating as a division of MUFG Union Bank N.A., a member of Japanese Mitsubishi UFJ Financial Group. It offers Online Savings Account with an annual percentage yield of 1.80 percent. It also provides online CDs and no-penalty CDs. The company’s accounts are insured by FDIC. PurePoint has financial centers in New York, Houston, Chicago, Dallas, Tampa and Miami.
Toll Free number: 1 855 488 7873
Monday - Friday, 8:00 am - 9:00 pm
(except federal holidays)
Routing number: 122238310
Bank 7 - 1.76% APY, $100 minimum opening deposit, max 1 million
Bank 7 is a community bank headquartered in Oklahoma City with branches in Kansas, Oklahoma and Dallas-Fort Worth, Texas metropolitan area. It offers high rate online savings account with no minimum balance to obtain APY. As of June 30, 2019, Bank 7 reported total assets of $800 million, deposits of $697 million and loans of $624 million. Tom Travis is President and CEO of the Bank. William B. Haines is Chairman.
$0.01 - $999,999: 1.76% APY
$1 million and above: 0.00% APY
Monday - Friday, 8:00 am-5:00 pm
Routing Transit Number (ABA): 103103778
USALLIANCE Financial - 1.70% APY, $500 minimum balance, no monthly fees, small withdrawal fee
Established in 1966 as a credit union for IBM employees, it currently serves over 100,000 customers worldwide. It offers High Dividend Savings Account with a 1.70% APY and a minimum balance of $500 to earn dividends. It also offers classic checking accounts with no maintenance fees and minimum balance, health savings accounts, credit cards, mortgages, home equity lines of credit, personal loans, student loans, auto and motorcycle loans, plane/flight school loans, credit builder loans, certificate accounts, individual retirement accounts (IRAs), retirement planning, education funding, 401K, 457 plans and TSP rollovers as well as life and health insurance, auto insurance, pet insurance, homeowners insurance, telehealth and more. USALLIANCE Federal Credit Union is headquartered in Rye, NY with 17 branch locations in Connecticut, Massachusetts, New York and New Jersey. Deposit accounts are fully FDIC insured.
Phone: +1 800 431 2754
Routing number: 221981063