Savings accounts are an excellent way to meet your financial objectives. You should select a savings account with a competitive annual percentage yield (APY) on your money.

Comenity Capital Bank insures Bread Savings (previously known as Comenity Direct).

Best online savings account

Bread Savings

The Bread Savings high-yield savings account has a competitive yield, a low opening deposit of $100, and no monthly service fee.

Following the completion of a merger in January 2022, CIT Bank, an online-only bank, is now a division of First Citizens Bank.

CIT Bank  

CIT Bank's Savings Connect account has the highest yield of any online bank. There are also Savings Builder accounts, checking accounts, money market accounts, and CDs.

Citizens is Citizens Bank's online bank. It offers high-yield online savings accounts and 6- to 5-year CDs. Online savings accounts are fee-free.

Citizens

Synchrony Bank offers a variety of depository products to consumers, including savings and money market accounts, as well as a variety of CDs.

Synchrony Bank  

Because it is an online bank, it has low overhead costs, which allows it to pass those savings on to customers in the form of higher interest rates.

Indeed, its savings and other depository products consistently rank among the highest-paying accounts.

Synchrony also has a highly rated customer service department that is available seven days a week via online chat or phone.

Ally Bank was founded in 2004 and is based in Sandy, Utah. GMAC Bank changed its name to Ally Bank in 2009.

Ally Bank

Ally Bank offers a savings account, money market account, interest-earning checking account, seven conventional CD maturities, a no-penalty CD, and two bump-rate CDs.

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