Opening an online savings account may be the option for you if you're looking for a place to stash your cash with a decent interest rate. Sure the interest yields aren't high, but it sure beats the rate you get from traditional savings and CD accounts. The best thing about online savings is that it allows you to remain liquid, provides convenience, is FDIC insured, and only takes minutes to create an account.
Here are the Top Five Online Savings Account
A savings account with American Express will
earn you a 1.30% APY. There are no minimums to open an account, no fees, no minimum balances,
and they are FDIC insured. In other words they are paying you to put your money there, and you can withdraw at any time!
FNBO Direct currently provides a 1.10% APY yield, with $1 minimum to open an account. There are no minimums, and no hidden fees. I personally have been banking with FNBO Direct for 5 years and the customer experience is just wonderful. FNBO Direct also offers bill pay!
Ally Financial was originally founded in 1919 as General Motors Acceptance Corporation(GMAC), but was then later renamed in 2010 to Ally Financial.
Opening an account with Ally will sport a 1.24% APY. There are no fees, no minimums, and as you guessed it is FDIC insured. Life just doesn't get better than this.
Discover bank isn't too shy about giving away money. The 1.35% APY will cost you $500 when you first open an account. The good thing is that there are no monthly fees. So once your deposit has settled, you can take that $500 and run.
HSBC is one of the largest financial institutions in the world and to prove that it is offering you a 1.10% APY RATE with a minimum on $1 to open an account. No minimums! No monthly fees!
Saving is not a necessity but plays an important role in financial freedom and success.
Thanks for the information. Very useful.
Good list of options for online savings accounts.
This was laid out really well, thank you for the information.
Good information! thanks
Thank you very much!
Any questions please feel free to post a comment.
TopFive
Thanks for the info.
select one here...