High-Yield Savings Accounts & Money Market Account Rates

Opening an online savings account is a great way to earn some extra money on your cash. You can transfer funds quickly and easily from your existing checking accounts (which likely pays next to zero interest). Here are some current top rates, curated to include established FDIC-insured banks with a reliable, long-term history of competitive rates and no balance cap.

Bask Bank

• Summary: The Bask Interest Savings Account pays 4.65% APY (as of 11/13/24) with no minimum balance, with no monthly maintenance fees and just a $1 minimum deposit to avoid closure.
• Bask Bank is the online-only division of Texas Capital Bank, Member FDIC. They also offer a savings account that earns American Airlines miles instead of cash interest.

CIT Bank Savings Connect

• Summary: CIT Bank is offering 4.20% APY (as of 11/13/24) with a $100 minimum opening deposit and ongoing minimum balance requirement.
• CIT Bank focuses on savings deposit products, including No Penalty CDs, and Term CDs with competitive rates.
• If you plan on maintaining a balance of at least $5,000, check out their Platinum Savings account than pays a higher 4.55% APY on balances of $5,000+.

Capital One 360 Performance Savings

• Summary: The Capital One 360 Performance Savings account pays 3.80% APY with no minimum balance, with no monthly maintenance fees and just a $1 minimum deposit.
• Capital One bank has the DNA from the very first high-yield online savings account providers.

Marcus Bank (Goldman Sachs)

• Summary: Marcus by Goldman Sachs sports a 3.90% APY with no monthly maintenance fees and just a $1 minimum deposit. Use a referral link get a 0.25% Cash Bonus total during your first 3 months.
• AARP members may be eligible for a slight rate boost.
• Marcus is a new initiative by Goldman Sachs to get into debt consolidation and personal loans. Their banking arm serves as a source of funds, so hopefully they’ll keep their rates high and competitive.

Ally Bank

• Summary: Ally Bank currently yields 3.80% APY with no monthly maintenance fees or deposit minimums.
• Ally Bank also offers a wide variety of products including a checking account, High-Yield CDs, Raise Your Rate CD, and a No Penalty CD.

These high-interest savings account rates are current as of December 2024.