Top 10 Best Online Savings Accounts of 2020

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Online saving platforms have taken saving sites by storm. This is one of the best ways of saving money. It has been proven to have the best rates when compared to brick-and-mortar banks. These online banks always have the best rates hence very good for saving your money in these online sites.

The online banks doe not only offer high rates but they also have a low fee to be paid. This ranges from checking the overdraft monthly to account maintenance. They charge a very low fee for everything which makes it very economical. An online bank might even charge interest only in the overdraft credit line. They also charge low fees for the investment accounts. This makes them cheaper.

Online saving accounts are also for keeping money safe from spending. This gives you the right mindset from this money. The reason is they have no debit cards which you can use to purchase things. This makes your money safe from unnecessary spending. This makes the online saving account very important. This gives me the reason to look at the best online banks.

Barclays Bank Online Saving Account

This is one of the best online saving accounts. They offer very high rates to the money deposited. They also charge no fee. their interest rates are also very low hence very economical. This online saving account is also very convenient. Its mobile apps are even more exciting. They have had the best rating making it one of the most important saving accounts for you to use.

Discover Bank Online Savings

Discover high yield saving account is one of the interesting online saving accounts. It offers no-fee which is very cool. There is also ease in using this account and they also offer a bonus to the account holders when using an offer code. This makes it one of the best online saving accounts.

Vio Bank High Yield Online Savings Account

This is one of the online saving accounts that offer the highest APY in the market. This also has no charges in the monthly maintenance fee which makes it cheaper than other online saving accounts. This online saving account also is hard to pass up giving it an added advantage.

Marcus by Goldman Sachs Online Saving Account

This is the recent entrant in the online saving accounts markets. But it has proven to be the most interesting saving account in the market. It is gaining a lot of attention. It has the highest interests than any other online saving accounts. Though it came recently it is competing with competitors by even offering a very low fee in the market.

HSBC Direct Savings

This also offers the highest rates in the market. This is always best for those who are willing to tackle a common fee and earn the highest rates. When you park your cash on this account then you can bring the maintenance cost to zero. Its highest yields make this account one of the best in the market.

UFB High Yield Savings Account

This offers the highest rates that can be found in an online bank. In this account for you to qualify for the APY, you require a balance of at least 25000 dollars. Those who qualify can have the best online bank in the market. They also have access to the ATM card which adds up to its exciting features.

American Express National Bank

If you have a credit card with this online account then you are aware of their customer services and the care of their customers. This online account bank has high rates and also charges a low fee. The good thing with this account is that you can link your bank account. The added advantage is also you can link up to three of your bank accounts. This makes it one of the best online saving accounts.

Synchrony Bank

This might be a newer name to the list of the top online saving accounts. But this online bank has been in the market for quite a while. This online saving account also comes with an ATM card. This makes it easy for you to have quick access to your cash. This also has a favorable fee and also higher rates making it compete with its competitors well.

Comenity Direct Bank

This bank launched its high yield savings account and it has more than 160 retailers worldwide. You can initiate free ACH even though it doesn’t offer a debit card for ATM access.


This bank was established in 1997. It is an FDIC bank with its headquarters in Salt Lake City. It has the highest APYs and it requires a minimum balance of $1000.Additionally, it has no Maintenance free.

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