Looking for a high-yield savings account

[Sandysbuddy]

Our regular savings (like most accounts these days) pays very little interest and we are looking for a high-yield savings account to move part of our money into. Any recommendations? Synchrony appears to have an account that is paying 0.95% but I know nothing about them. I also found a reference to SmartyPig on a blog. They are paying 1% but I'm not sure if it is something I would want to put money into. I know nothing is paying very well these days but would like to make more than the few cents we are getting now. Thanks!

 

[amcnj]

Savings accounts I have seen with higher rates were offered by on-line banks such as Ally and Capital One 360. They are in the .75-1% range. Who would have thought that those would ever be the high end interest rates on a savings account! Do a search for high interest savings accounts and you'll get lists of them.

 

[alymae1010]

I've used Smartypig for a few years now for various goals. If you are worried about the site being reputable, it is.

 

[ellochka]

I have both CapitalOne (formerly ING) and Emigrantdirect accounts, and they both pay a pittance (0.5% and 0.75%). Not worth it for the interest. I use them to save money for specific purposes. Our true long term savings money goes into a S&P500 index fund, and I can't complain about the earnings there (warning - can fall in value).

 

[Iowajes]

Our local credit union has a high-yield checking account (not savings account) 2.5% on the first $20,000, which isn't fabulous, but better than nothing. After $20,000 it is only 0.15%, so I'd put that money elsewhere,

You do have to have direct deposit and use the debit card a certain number of times each month though. For months you don't make the qualifications though, the earning is terrible- .01%!!!

Not sure if it is available to non-locals, but you can check it out.
http://www.uiccu.org/savings-checking/checking/rewards-checking.html

 

[j's m]

SFGI Direct has a 1.01% on line savings account. Easy to use. I've had an account with them for several years and do recommend them.

 

[4under4]

We have capital one 360 (since it was ing)

 

[meriface11]

Synchrony is the soon to be spun off GE Capital consumer bank.

 

[Sandysbuddy]

Thanks for all of the responses! This gives me good place to start.