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What Is The Best High Interest Savings Account?

best high interest savings account

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After years of low-interest rates, there is a pricing war for online savings accounts. You can capitalize on this by signing up the best high-interest savings account.

Long gone are the days of 0.01% APY.

If you are willing to open an online savings account (which is FDIC insured), you can now easily get a 1.90% APY or higher.

Interest rates are only increasing online: traditional brick and mortar banks continue to pay very low rates. A typical savings account at a big bank only pays 0.01% APY.

The best online banks offer perks like no minimum balance, ATM access and much higher interest rates than the average savings account. Here are the best online savings accounts and promotions (and this post is updated regularly).

Our Top Pick for High-Interest Savings Account for 2019: CIT Bank

CIT Bank Promotions are available nationwide online with some of the highest interest rates available.

You earn 1.85% APY Money Market, 1.85% APY No Penalty CD, 1.55% APY High Yield Savings, and many other CD Terms Rates.

All of these high-interest rate accounts have a very low minimum requirement of only $100!

CIT Bank Promo CodesVisit CIT Bank 🔒 CIT Bank offers three main depository product types: savings accounts, Certificates of Deposit (CDs), and IRA CDs. Each of its products typically comes with one of the top interest rates available nationwide, helped by the fact that the bank does not have the overhead costs associated with operating branch locations because of its wholly online system.

 

About CIT Bank

Through their nationwide direct bankCIT Bank offers consumers competitive deposit products to advance their savings strategies, including a range of CDs, a high-yield savings product and IRAs. CIT Bank has been recognized by personal finance sources including MyBankTracker, NerdWallet and GOBankingRates for its products that drive value for banking customers.

CIT Bank Promotions

1.85% APY Money Market

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Highlights:

  • CIT Bank is offering you the chance to earn a 1.85% APY Rate that is higher than traditional banks and you can access your money easily.
  • With a low minimum opening deposit of $100, it’s an ideal online account for building an emergency fund or saving for a large purchase.
  • The money market account has no monthly maintenance fees, you can enjoy 6 transfers per monthly statement cycle and it comes with free People Pay service that allows you to send money to almost anyone with an email address or mobile phone number!
  • Learn More at CIT 

Promo: 1.85% APY Money Market

CIT Bank Promotions

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On CIT Banks’ Secure Website

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1.55% APY Premier High Yield Savings

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Highlights:

  • Available nationwide set your sights high by opening a Premier High Yield Savings account with CIT Bank and enjoy earning 1.55% APY!
  • To get started, all you need is $100 opening deposit and you can start enjoy earning the high rate that’s over 25x the national average!
  • The savings account has no monthly maintenance fees and it comes with free online banking.
  • Your money is FDIC insured and the interest is compounded daily to maximize your earning potential.
  • Learn More at CIT.

Promo: 1.55% APY Premier High Yield Savings 

CIT Bank Promotions

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Details >
On CIT Banks’ Secure Website

1.85% APY 11-Month No Penalty CD

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  • By far one of the best No Penalty CD on the market with this CIT Bank’s 11-Month CD.
  • Enjoy a rate of 1.85% APY and withdraw anytime during the 11 months with no penalty!
  • There is a minimum deposit of $1,000 to open a CIT Bank High Yield Certificate of Deposit.
  • The CD account has no monthly maintenance fees and easy to open.
  • Your money is FDIC insured and the interest is compounded daily to maximize your earning potential.
  • Learn More at CIT

Promo: 2.05% APY 11-Month No Penalty CD

CIT Bank Promotions

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On CIT Banks’ Secure Website

2.20% APY 1 Year CD Term

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Highlights:

  • Make a surefire investment with CIT Bank’s 1 Year CD.
  • Enjoy a rate of 2.20% APY and more!
  • There is a minimum deposit of $1,000 to open a CIT Bank High Yield Certificate of Deposit.
  • The CD account has no monthly maintenance fees and it comes with free online banking.
  • Your money is FDIC insured and the interest is compounded daily to maximize your earning potential.
  • Learn more at CIT

Promo: 2.20% APY 11-Month No Penalty CD

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CIT Bank Promotions

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On CIT Banks’ Secure Website

CIT Bank Reviews:

Very Happy Banking Here.

Posted by: glassiegirl47 | Jun 5, 2018

I’m “over the moon” with their interest rates, so what’s not to love. With a very minimal deposit you get a great rate. Customer service is also good; easily accessible to get a human who can help you.

Advertised as great, mediocre at best.

Posted by: Localtype | Dec 30, 2017

CIT bank is a bank that is advertised as being a great bank. My personal experience with this bank says otherwise. You can, of course, set up standard accounts with them as well as a couple of special investing accounts. As far as bank security goes, that is another story. I got a phone call from the bank one day asking if someone withdrew a large amount of cash out of my account. I, of course, told them no because I was home. Apparently someone was able to get into the bank’s system and pull the required information to withdraw money from my account along with many other accounts. They did manage to recover my money but it took them months to do so. Afterwards I ended my account with them and moved onto another bank. Overall, the bank got the job done but it could have been done better.

CIT Bank Promo CodesVisit CIT Bank 🔒 CIT Bank offers three main depository product types: savings accounts, Certificates of Deposit (CDs), and IRA CDs. Each of its products typically comes with one of the top interest rates available nationwide, helped by the fact that the bank does not have the overhead costs associated with operating branch locations because of its wholly online system.

 

Do you know of any other high interest savings account that we may have missed? Let us know below!

SavingLoop Staff

Stuck wondering how to save money fast? At SavingLoop, we share free saving guides to help you save money fast and live a better life.
SavingLoop Staff

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