Top 10 High Yield Savings Accounts

If you are looking for a list of high yield savings accounts, eMoneyCentral has a frequently updated list. High yield savings accounts are the best if you are looking for an account that will earn you most interest over time. Emergency funds and down payment savings are best placed in these bank accounts.

As of this writing, here are on the top 10 in the list of high yield savings accounts which includes money market accounts provided by eMoneyCentral:

1. Everbank Yield Pledge Money Market (3 month introductory promo) has an APY of 6.01% and a balance requirement of $1.00 - $50,000 to obtain APY.

2. FNBO Direct Online Savings account has an APY of 6.00% and a balance requirement of $1.00 to obtain APY.

3. Gloucester County Federal Savings GCF CyberSaver has a 90-day promo of 5.50% APY and a balance requirement of $100+ to obtain APY.

4. Countrywide Bank Savingslink has an APY of 5.40% and a balance requirement of $50,000 - $2,499,999 to obtain APY.

5. AmTrust Direct e-Money Market has an APY of 5.36% with a balance requirement of $1.00 to obtain APY.

6. Zions Bank Deseret Money Market Account has an APY of 5.36% with a balance requirement of $50,000+ to obtain APY.

7. UFB Direct High Yield Money Market Savings has a 5.31% APY with a balance requirement of $0+.

8. GMAC Money Market Savings has a 5.30% APY and a balance requirement of $500+ to get APY.

9. iGObanking.com iGO Savings with an APY of 5.30% and a balance requirement of $1.00+ to obtain APY.

10. OneUnited Bank UNITYGOLD E-Savings has a 5.30% APY and a balance requirement of $1,000+.

JD of GetRichSlowly.org also has a great list of online savings accounts with high yield interests. Online savings accounts are the trend because many of these savings accounts offer high yield interests, which is caused by low cost operations of these online accounts.

However, high yield savings accounts have their own disadvantages. There are some holding times or locking periods that not all the depositors are in favor of. According, to an online bank account article from CNN Money, lag time may be experienced during money transfers between accounts on some online banks. High maintenance customers can get their accounts closed in no time, too. Learn more about the disadvantages and advantages of online savings accounts.

[image from Mai Kel San]

Tags: savings account, online savings account