12 Best Bonuses And Promotions For Online Savings Accounts

Are you looking for ways to earn more on your savings? Online savings accounts may be the right option for you, and they often offer attractive bonuses and promotions to entice new customers. In this article, we will explore the 12 best bonuses and promotions available for online savings accounts, helping you make the most out of your savings. From high-interest rates to cash bonuses, we’ve got you covered. So, let’s dive in and see what these online savings accounts have to offer!

12 Best Bonuses and Promotions for Online Savings Accounts

1. Ally Bank

Why We Like It: Ally Bank offers a high-yield savings account with no monthly maintenance fees and no minimum balance requirements.

Who Should Get It: Anyone looking for a no-frills savings account with competitive interest rates and easy online access.

• High-yield savings account with 0.50% APY
• No monthly maintenance fees
• No minimum balance requirements

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Easy online account management
• 24/7 customer service support
• Cons:
• No physical branches

2. Discover Bank

Why We Like It: Discover Bank offers a high-yield savings account with no monthly maintenance fees and a cashback rewards program for debit card purchases.

Who Should Get It: Savers who want to earn cashback rewards on their debit card purchases while also earning competitive interest rates on their savings.

• High-yield savings account with 0.40% APY
• No monthly maintenance fees
• Cashback rewards program for debit card purchases

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Cashback rewards program for debit card purchases
• 24/7 customer service support
• Cons:
• No physical branches

3. CIT Bank

Why We Like It: CIT Bank offers a high-yield savings account with tiered interest rates, allowing savers to earn higher rates on higher balances.

Who Should Get It: Savers with larger account balances who want to earn higher interest rates on their savings.

• High-yield savings account with up to 0.50% APY
• No monthly maintenance fees
• Tiered interest rates

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Tiered interest rates allow savers to earn higher rates on higher balances
• 24/7 customer service support
• Cons:
• No physical branches

4. Marcus by Goldman Sachs

Why We Like It: Marcus by Goldman Sachs offers a high-yield savings account with no fees, no minimum balance requirements, and easy online account management.

Who Should Get It: Anyone looking for a simple and straightforward savings account with competitive interest rates.

• High-yield savings account with 0.50% APY
• No monthly maintenance fees
• No minimum balance requirements

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Easy online account management
• 24/7 customer service support
• Cons:
• No physical branches

5. American Express National Bank

Why We Like It: American Express National Bank offers a high-yield savings account with competitive interest rates and no fees.

Who Should Get It: Savers who want to earn competitive interest rates on their savings without having to worry about fees or minimum balance requirements.

• High-yield savings account with 0.40% APY
• No monthly maintenance fees
• No minimum balance requirements

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Easy online account management
• 24/7 customer service support
• Cons:
• No physical branches

6. Barclays Bank

Why We Like It: Barclays Bank offers a high-yield savings account with competitive interest rates and easy online account management.

Who Should Get It: Savers who want to earn competitive interest rates on their savings and prefer online account management.

• High-yield savings account with 0.40% APY
• No monthly maintenance fees
• No minimum balance requirements

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Easy online account management
• 24/7 customer service support
• Cons:
• No physical branches

7. Synchrony Bank

Why We Like It: Synchrony Bank offers a high-yield savings account with competitive interest rates and ATM fee reimbursements.

Who Should Get It: Savers who want to earn competitive interest rates on their savings and have easy access to their money through ATMs.

• High-yield savings account with 0.50% APY
• No monthly maintenance fees
• No minimum balance requirements
• ATM fee reimbursements up to $5 per statement cycle

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• ATM fee reimbursements
• Easy online account management
• 24/7 customer service support
• Cons:
• No physical branches

8. Capital One 360

Why We Like It: Capital One 360 offers a high-yield savings account with no fees or minimum balance requirements and easy online account management.

Who Should Get It: Anyone looking for a simple and straightforward savings account with competitive interest rates and easy online account management.

• High-yield savings account with 0.40% APY
• No monthly maintenance fees
• No minimum balance requirements

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Easy online account management
• 24/7 customer service support
• Cons:
• No physical branches

9. HSBC Direct

Why We Like It: HSBC Direct offers a high-yield savings account with competitive interest rates and easy online account management.

Who Should Get It: Savers who want to earn competitive interest rates on their savings and prefer online account management.

• High-yield savings account with 0.15% APY
• No monthly maintenance fees
• No minimum balance requirements

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Easy online account management
• 24/7 customer service support
• Cons:
• Low interest rates compared to other online savings accounts

10. FNBO Direct

Why We Like It: FNBO Direct offers a high-yield savings account with competitive interest rates and no monthly maintenance fees.

Who Should Get It: Savers who want to earn competitive interest rates on their savings and prefer a no-frills account with no fees.

• High-yield savings account with 0.40% APY
• No monthly maintenance fees
• No minimum balance requirements

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• Easy online account management
• 24/7 customer service support
• Cons:
• No physical branches

11. Wealthfront Cash Account

Why We Like It: Wealthfront Cash Account offers a high-yield savings account with competitive interest rates and no fees.

Who Should Get It: Savers who want to earn competitive interest rates on their savings and also want to invest in a diversified portfolio through Wealthfront’s robo-advisory services.

• High-yield savings account with 0.35% APY
• No monthly maintenance fees
• No minimum balance requirements
• FDIC-insured up to $1 million

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• FDIC-insured up to $1 million
• Investment opportunities through Wealthfront’s robo-advisory services
• Cons:
• Withdrawals can take up to 1-2 business days to process

12. Betterment Cash Reserve

Why We Like It: Betterment Cash Reserve offers a high-yield savings account with competitive interest rates and no fees, as well as access to Betterment’s investment and financial planning services.

Who Should Get It: Savers who want to earn competitive interest rates on their savings and also want access to investment and financial planning services through Betterment.

• High-yield savings account with 0.40% APY
• No monthly maintenance fees
• No minimum balance requirements
• FDIC-insured up to $1 million

• Pros:
• Competitive interest rates
• No fees or minimum balance requirements
• FDIC-insured up to $1 million
• Access to Betterment’s investment and financial planning services
• Cons:
• Withdrawals can take up to 1-2 business days to process

Frequently Asked Questions

Here are some common questions about the 12 best bonuses and promotions for online savings accounts:

What are online savings accounts?

Online savings accounts are bank accounts that are primarily accessed and managed through the internet. These accounts typically offer higher interest rates than traditional savings accounts, as well as convenient online tools for managing your money.

Opening an online savings account is often quick and easy, and may require no minimum deposit or monthly fees. Many online banks also offer mobile apps for easy access to your account on the go.

What kind of bonuses and promotions do online savings accounts offer?

Online savings accounts often offer sign-up bonuses that can range from $25 to several hundred dollars, depending on the bank and the promotion. Some banks also offer ongoing promotions, such as bonus interest rates or cash back on certain purchases.

It’s important to read the terms and conditions of any bonus or promotion carefully, as there may be requirements you need to meet in order to qualify for the bonus or maintain the promotional rate.

Which banks offer the best bonuses and promotions for online savings accounts?

There are many banks that offer bonuses and promotions for online savings accounts, but some of the best include Ally Bank, Capital One, Discover, and CIT Bank. These banks often offer generous sign-up bonuses and ongoing promotions that can help you save even more money.

When choosing a bank, it’s important to consider not only the bonus and promotional offers, but also the interest rate, fees, and overall customer service.

What should I look for when choosing an online savings account?

When choosing an online savings account, there are several factors to consider. These may include the interest rate, fees, minimum balance requirements, customer service, and online tools and features.

You may also want to consider the bank’s reputation and financial stability, as well as any additional products or services they offer, such as checking accounts or credit cards.

How can I make the most of my online savings account?

To make the most of your online savings account, it’s important to regularly contribute to your account and take advantage of any bonus or promotional offers. You may also want to set up automatic transfers from your checking account to your savings account to help you save more money.

It’s also a good idea to regularly review your account and compare the interest rate and fees to other banks to ensure you’re getting the best deal possible.

Saving money can be a daunting task, but with online savings accounts, it has become easier than ever. Not only do they offer higher interest rates than traditional brick-and-mortar banks, but they also provide various bonuses and promotions. In this article, we’ve highlighted the 12 best bonuses and promotions for online savings accounts.

From cash bonuses to referral bonuses to high-interest rates, these online savings accounts have something for everyone. Some offer a higher interest rate for the first year, while others provide a cash bonus for opening an account. Some even give you a bonus for referring a friend or family member to open an account.

With so many options available, it’s important to do your research and find the best online savings account for your needs. By taking advantage of these bonuses and promotions, you can boost your savings and reach your financial goals faster. So, what are you waiting for? Start exploring your options and start saving today!