Online Banks – Let’s be honest, I didn’t really think much about where I kept my savings when I first started adulting. I mean, who really thinks about interest rates when you’re more concerned with rent, groceries, and just making it through the week, right? But after some late-night reading and a few failed attempts at understanding my financial goals, I finally got the point—those savings accounts at big banks weren’t cutting it. I needed more bang for my buck. And that’s when I really started diving into online banks that offer high-interest savings accounts.
Let me tell you, there’s a lot of options out there, and picking the right one can feel overwhelming. I remember spending way too much time trying to figure out which one would actually give me a decent return on my savings. After all, those pennies really add up (seriously, the interest on some of my older accounts was embarrassing). So, in the spirit of helping out anyone who’s ready to level up their financial game, here are the six best online banks for high-interest savings in 2025. Trust me, I’ve been down the rabbit hole of online banking, and these picks have stood out for me over time.
Best Online Banks for High-Interest Savings in 2025
1. Ally Bank
When I first switched to Ally Bank, I didn’t expect much. But boy, was I wrong! Ally’s High-Yield Savings Account offers a competitive interest rate that frequently ranks among the best, and no minimum balance requirement is a huge plus. That’s one thing that sold me on it—they don’t penalize you if you’re just starting out or if your balance fluctuates a little. Plus, I love the fact that Ally has zero monthly maintenance fees. You’d be surprised how many banks still charge these.
Their online banking experience is smooth too. It’s easy to navigate their website, and their mobile app is pretty intuitive. The best part? They offer tools like buckets (you can create separate savings goals within one account) that help me stay on track. When I was saving for a vacation last year, I created a separate bucket for travel and another for emergency savings. I felt like I had everything in control.
2. Marcus by Goldman Sachs
I’ve been a fan of Marcus for a while now, especially after hearing so much buzz about their high-yield savings account. Their interest rates tend to be competitive, and honestly, their customer service is top-notch. If you ever run into an issue (which is rare), their support team is quick to help you out without feeling like you’re talking to a robot.
One thing I appreciate about Marcus is that they don’t have any fees or minimum deposits, making it perfect for people just starting to save or for those who don’t have a lot to put away each month. Their website is sleek and user-friendly, and once I set up an account, it took all of five minutes to start earning interest. It’s been my go-to for a “set it and forget it” savings option, and I never have to think about it again until I check my balance.
3. Synchrony Bank
Okay, so Synchrony doesn’t always make the headlines as often as some of the bigger names, but don’t let that fool you. Their high-yield savings account is competitive, and their rates have been consistently solid for as long as I’ve been using them. What I like about Synchrony is their wide range of banking products—so if you ever want to branch out into CDs or other investment options, they’ve got you covered.
The only downside I’ve personally experienced is that they don’t have physical branches, so it’s all online or via ATMs for withdrawals. But honestly, I hardly ever need cash, so that hasn’t been an issue. If you’re comfortable with an entirely online experience, Synchrony is definitely a solid pick.
4. Discover Bank
Discover Bank isn’t just for credit cards anymore! They’ve got a really solid high-yield savings account that has helped me earn more on my balance. They’re known for offering some of the best rates in the industry, and it’s rare that their rates drop like some other banks. The best part for me? No monthly fees. I hate unnecessary fees, and Discover gets it. Plus, they have an easy-to-use app that lets you check your balance and transfer money with minimal hassle.
One thing I will say is that while their rates are competitive, they’re not always the highest on the market, but when you factor in their solid customer service and ease of use, I think it’s still worth considering.
5. CIT Bank
If you’re okay with a slightly higher minimum deposit (it’s $100), CIT Bank’s Savings Builder account could be an excellent option. The rate is pretty high, but here’s the catch: To earn the best rate, you’ll need to either deposit $100 per month or maintain a $25,000 balance. That could be a dealbreaker for some, but I personally don’t mind the $100 monthly requirement to earn a decent return. Over time, it really adds up.
The app is intuitive, and setting up automatic transfers is a breeze. The best part is that if you keep your balance or make the required deposits, you’ll see a return that beats most of the big-name banks.
6. Varo Bank
Varo is a bit different because it’s a mobile-first bank, which means it’s perfect for people who love the flexibility of managing their accounts on the go. They offer high-yield savings with no minimum deposit and no fees (which is rare). What I like about Varo is how they incentivize savings by offering bonus APY rates when you meet certain criteria, like making qualifying direct deposits.
The interface is clean, the app is well-designed, and if you’re into mobile banking, this one could be a winner. I’ve found it super easy to link my Varo account to other accounts for transfers and savings, and it’s been a low-maintenance way for me to build my emergency fund.
Which One Should You Choose?
Honestly, it depends on your savings habits and goals. If you’re just looking for simplicity and a solid rate, I’d suggest starting with Ally or Marcus. If you don’t mind a slightly more hands-on approach and can meet minimum requirements, CIT Bank could be worth your while.
For those who want a completely mobile experience, Varo or Discover could be up your alley. And if you’re after a more traditional feel but still want high rates, Synchrony has you covered. Each of these online banks brings something to the table, but they all have one thing in common—helping you get the most out of your savings. Just make sure you read the fine print to ensure you’re getting the best deal for your financial situation.
Take it from me—switching to an online bank that offers a competitive interest rate was one of the best decisions I’ve made for my savings. It’s not just about earning more; it’s about making sure your money works for you in the best way possible.
