There are a large number of banks today, where you can open up your savings account, but the most important thing to be considered is which out of the whole lot offers the best high yielding savings account.
Although the interest rates keep varying for these accounts depending on the market scenario, but it is still quite imperative to compile the results of the best online savings accounts.
Below is the list that I have prepared after researching this field carefully.
EVERBANK: Everbank is a great bank which is offering an amazing promotional rate to all its customers for the initial period of three months on the online savings account and also the standard APY for this bank is considered to be one of the best available as of today. As long as the balance in your account does not go below $1500, you have to bear no additional fees for maintaining the account. This bank also has the high interest checking option. To make you feel even better, this bank has a four-star â€œsafe and soundâ€ rating and is FDIC insured. It is an option worth considering.
FNBO DIRECT: This is an amazing bank which offers to all its customers the flexibility of opening a savings account without any extra fees or minimums. As a matter of fact, all you require is $1 to open up a savings account with them. It is a much appreciated bank mainly due to the fact that it offers very high interest rates, the facility of ATM card and last but not the least, good customer service support. As per the Bankrate, this bank, FNBO Direct is considered to be the safest amongst all the major online banks.
HSBC DIRECT: HSBC Direct is another bank which offers all its customers to open up an online savings account with a minimum of $1. Although at times the rate of interest slips at times for this bank, which is true for any bank in todayâ€™s economy, it is surely an option worth considering and checking out.
ING DIRECT: ING Direct is considered to be the perennial favourite for almost all, although they do not offer competitive interest rates as compared to many. This bank offers both high yield checking as well as online savings account. ING Direct charges no extra fees to its customers for opening up an account and at the same time has an outstanding web interface which all you to create several sub accounts for meeting of varied savings goals.
DOLLAR SAVINGS DIRECT: This bank account charges no fees to its customers for maintaining a minimum balance of $1K. This bank offers extremely high interest rates, which is what we all look for. The latest offering from the online savings veteran, Emergent Bank is DSD and at the same time this bank is also FDIC insured. If your main criterion for a savings account is high interest rate, Dollar Savings Direct should be in your list.
WT DIRECT: WT Direct is relatively quite new in the field of online savings account. Although this bank offers to all its customers very high interest rate and fees, but they surely have a very high minimum of $10k. In case if your balance goes down below $10k, your interest rate of interest gets affected tremendously. If you have enough cash with you, you can consider this bank as an option as it will offer you very high rates of interest.
All of the above banks have an online application available with the only restriction of 18 years old and US resident with a SSN and state ID. It is your choice which bank you consider to be worthwhile depending on your financials, but the common platform should be that it should be able to yield you high rate of interest always. Afterall, itâ€™s your hard earned money, why not try and make the maximum out if it even by keeping in the savings account.