High Yield Savings accounts


High Yield Savings accounts – The primary difference between a  savings account and checking accounts is the way you can access your money.Typically savings accounts allow upto 6 transactions per billing month,anything more than that will attract a fee,and some banks then convert the savings account into a checking account.The good part of savings accounts complied below are the high yield rates.you get a close to 1% return on your money if kept for a certain duration of time.Most of these savings accounts come with FDIC insurance and do not have any minimum deposit rate,however in order to obtain these rates you would have to deposit the banks minimum asking.

High Yield Savings accounts

1.Ally Bank

One of the easiest accounts to work with and yields the highest earnings on your investment with a 0.84% APY. There is no minimum amount to start your account with nor any monthly fees to keep it going.You can add funds to your savings account by online fund transfer,physical check or a wire transfer.You also get 6 transactions per billing cycle, and all investments are compounded daily with interest to help grow your investment faster.
As seen from the above illustration,an investment of $50,000 in an Ally savings account will earn you $421.76  a year


Everbanks’ Yield Pledge Savings account has an attractive yield of 0.76% p.a.Other charges can be seen in the table below:

Yield Pledge® Savings Account
Minimum opening balance $1,500
Minimum balance to earn interest1 $0
Withdrawals / Transfers4 6 / mo
Online & mobile banking Free
Make deposits from home Free
Available as an IRA Yes
Additional online security Yes

As compared to other savings accounts,everbank’s rates are on the higher side.As per federal law,not more than 6 transactions or withdrawals are permitted in a given statement month.


With a minimum deposit of only $500 and FDIC cover,Discover’s savings account yields us about 0.80%-0.85% APY, depending on the day you sign up as the rates fluctuate.Some of the good features of a Discover savings are easy fund transfer from checks,wires or a checking account .There are also no monthly fees or minimum balance required.
Some of the Fees associated with a Discover savings account are:-

Inbound Money Transfer No Charge
Outbound Money Transfer No Charge*
Incoming Domestic Wire No Charge
Incoming International Wire No Charge
Official Bank Check (per check) $5
Copy of Statement, Check, Deposit Item $5
Deposited Returned Item (per item) $15
Excessive Withdrawal (per item) $15
Priority Mail $20
Account Closure (within 90 days of opening) $20
Outgoing Domestic Wire $20
Outgoing International Wire $40
Foreign Check Processing Fee At Cost


4.Ing Direct

Ing savings is a no monthly fee and zero maintenance savings account that will insure your deposit upto $250,000 through the FDIC.
What you get in return is an APY of 0.8%. One of the good features of signing up for an ING savings account is the free funds transfer from your checking account.This can be from a bank other than ING so you don’t have to change your checking account to ING,its a simple free transfer.


Savings from Metlife offer APY of 0.85% with an initial deposit of atleast $5000.Note that only if yore deposit is over $25,000 will you be able to get the 0.85%.
With this savings account you get FDIC insurance upto $250,000 and you can access thee funds via ATM cards,over the phone or online.Only a small daily balance of $50 is required to avoid the $5 monthly maintenance fee.


The Savings Plus account at Citibank has features galore.With an inital investment of only $100 you can easily setup your savings account.In addition to getting an APY of 0.85% for investments of alteast $15,000.Keeping this minimum cap also prevents you from being charged other monthly fees.
Citi Savings comes in two flavors,but to get a high return it would be advisable to opt for the Savings plus.Its a simple rule,the more you invest,the higher the return.Other notable features that the account provides are FDIC insurance,easy account access anytime,the amazing Autosave and the efficient checking account link to transfer money conveniently and quickly.

7.American Express

American Express offers a savings plan with a 0.75% APY that comes bundled with FDIC insurance,round the clock account access,no monthly fees and no minimum balance.
Withdrawals and deposits can be mad easly by online transfer or by phone banking facility.A good feature is easy linking of your existing checking accout from another  bank to easily facilitate electronic transfer into your new savings account

8.FNBO Direct

At an APY of 0.65% , FNBO markets its saving accounts as earning you more than 4 times than a traditional savings account.Just like other  savings accounts you can apply for one easily with no minimum amount to deposit,no minimum balances and no monthly fees.
What i particularly love about all FNBO accounts is Popmoney.Its a secure  fund transfer program.By simply logging into your fnbo account,you can send anyone money by entering their email address or account information.The best part about the whole FNBO savings process is that it is completely automated online.There is never any physical transfer or hard copies of checks or other paperwork.

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