With the Discover Money Market Account, the rate may vary depending on your account balance. The Discover Online Savings Account is competitive with the high-yield savings accounts at Ally and Capital One - it has no minimum opening deposit, zero monthly service fees, and a similar APY.įor the CDs and money market accounts, you'll need at least $2,500 to get started. Read Our Review A looong arrow, pointing right Discover Bankĭiscover Bank is a solid option for a high-yield savings account, money market account, or CDs.
Capital One 360 Performance Savings: 4.30% APY. Here are the current rates for Capital One bank accounts: All of its accounts have a $0 minimum opening deposit.Ĭapital One is also featured in our guides for best kids savings accounts and best teen checking accounts.Ĭapital One 360 has an A- rating from the BBB, which shows its customer relationships and transparency are relatively strong overall. You might like Capital One if you prioritize an online bank with a savings account, checking account, and CDs. Ally High Yield CDs: 2.50% to 4.80% APYĬapital One 360 is the online operation of Capital One. Ally Interest Checking Account: 0.10% APY to 0.25% APY. Ally High Yield Savings Account: 4.00% APY. Here are the current rates for Ally bank accounts: BBB ratings range from A+ to F so Ally's grade shows that its customer relationships and transparency are generally positive. The Better Business Bureau gives Ally an A rating. You could also get a Raise Your Rate CD, which lets you request a rate increase once during your term if the bank's rates go up. It has a no-penalty CD, which is a CD that doesn't charge early withdrawal penalties. You also might find Ally worthwhile for specialty CDs. The Ally High Yield Savings Account also includes a savings buckets feature that helps you save for individual goals. AllyĪlly Bank offers a variety of bank accounts, including a high-yield savings account, interest-earning checking account, money market account, and several types of CDs.Īlly could be a good choice if you don't have much money to get started, because every account has a minimum opening deposit of $0. If you think it might be time to switch banks, consider these three national brands featured in our best online banks guide that are FDIC insured and offer competitive savings rates. You might be re-evaluating where you're keeping your savings right now because of everything happening in the banking industry. 
Savings rates have also been steadily rising throughout 20. When a financial institution fails, the FDIC or NCUA will protect your insured deposits and make sure your money is available generally within two business days of the institution closing. If you're worried about keeping your money in any bank account, know that up to $250,000 is safe in any bank that is federally insured by the Federal Deposit Insurance Corporation and any credit union insured by the National Credit Union Administration.
Other mid-sized and small financial institutions are also facing challenges with people taking out money from their bank accounts due to concerns of more bank failures. Three regional banks - First Republic Bank, Signature Bank, and Silicon Valley Bank - have collapsed in the last two months.
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