? A: Some savings accounts online Journal of us, like Capital One and HSBC 360, owned by banks with physical branches. However, if you want an online savings account, who can not be managed online or by phone. Although it may turn some people off to open an online savings account, one thing to remember is that the reason for online banks can offer higher interest rates is due to the fact that they must not spend money keeping the physical branches and can pay less employees, ultimately passing these savings to their customers through higher interest rates.
Currently, Everbank offers the highest interest rate, 1.25% for the first 6 months and 1.05% thereafter , but you need to maintain a balance of $ 5,000 at least waive the monthly fee. If you are looking for the highest interest rates without minimum balance requirement and no monthly fees, so take a look at Ally online savings with an APY of 0.84% . Compare these rates, for example, the Bank's current savings rate of American .08%. To start, find the best online savings account trying our free savings calculator.