I’m a saver. Though it didn’t always used to be that way – it took discipline. I realized that in order to have the travel and free spirited life I’ve always wanted, I was going to have to change my spending habits.
I now own 6 savings accounts – and they’re all online savings accounts with high interest rates. The good news is, in 2015 savings account interest rates appear to be back on the rise. Every single one of my accounts is currently above or at a .99% interest rate. Why do I have so many accounts you ask? It helps me budget and plan my life. I have a general online savings account, which I use to save for long term goals, like a mortgage. Then I have other ‘short term’ online savings accounts, which I keep to store my emergency fund, travel fund, investment savings and other personal goals. That said, since I began creating all of these savings accounts, I’ve been able to travel more frequently and live life with a more secure feeling of financial freedom. You can do the same, and below I’ll highlight what I consider to be the 3 best savings accounts for 2015 and more.
There are dozens of online savings account at varying interest rates in 2015. The three I’m listing below I consider to be the best due to three factors. First, the interest rates play a big part. 2 of the 3 accounts below are currently at a .99% interest rate this year. The third one is from Chase, and while the interest rate is terrible, they offer a hefty signup bonus which is rare among savings accounts and currently the best savings account signup bonus on the market in 2015.
1. Ally Bank Online Savings Account – 0.99% APY in 2015
Ally is my personal favorite online savings account. It not only has a high interest rate, but there are no monthly fees, no minimum deposit and the user interface is probably the best in the market right now. You can open as many sub-accounts as you like within your main account, thus allowing for easy distribution of funds to allocate to areas of your life that you’re looking to save for. You can also deposit checks remotely with their app and interest is compounded daily. The online user experience is great, but the mobile app for iPhone, Android, and even Kindle Fire is streamlined and incredibly easy to use.
Barclays is a reputable name that’s been looking to make an impact across the deposit account and credit card space – and they’re succeeding. The Barclays Online Savings Account comes with a very competitive 1.00% interest rate (11x the national average), no monthly maintenance fees and no minimum balance is required to open a new account. You’re able to make up to 6 withdrawls from your savings account per month, which is for the most part the standard with online savings accounts.
3. Chase Savings Account – $ 200 Signup Bonus in 2015
Chase is well known in both the checking and savings account market currently for their huge signup bonuses. Unfortunately, they aren’t just giving them away. You need a coupon code, and then you also need to make an initial deposit of $15,000 and maintain that amount in your account for at least 90 days. If you have a Chase savings account bonus coupon code and enough money for an initial deposit, it’s well worth opening the account. Chase also has 15,500 ATMs and 5,400 branches around the country. Note that Chase savings accounts do come with a monthly service fee, but can be easily waived if a $ 300 daily balance is maintained, if you’re under the age of 18, if you link it with a Chase checking account, or if you setup at least one $ 25 repeating automatic transfer (deposit) into your Chase savings account per month. Separately, Chase is also offering up to $ 300 signup bonuses if you open a Chase checking account. If you open both accounts, you could net up to $ 500. Check out our review of the Chase checking account bonus here.
Other High Interest Online Savings Accounts in 2015 (With No Monthly Fees)
- Offers a 1.25% interest rate (currently the highest interest rate in the US in 2015)
- Offers a 1.04% Interest Rate (1.05% APY)