Top 5 High Interest Savings Accounts Without Minimum Deposits Requirements

Online Savings accounts have quickly gained a lot of popularity among the consumers because of their flexibility and a considerable amount of income. There is no better way of receiving a profit on your saved money than to open a savings account. Although low-interest savings account to prove to be good for taking loans, high-interest savings account are preferable to actually put the profited amount to your own usage. Here is a list of best high interest savings accounts which can help you gain a considerable amount of profits on your savings.

Not all of the high-interest savings accounts require a particular amount to be deposited before you can start gaining profit on your savings. Some savings accounts give you an opportunity to earn a profit as soon as you begin to save. These savings accounts include

Ally

Ally is unquestionably favorite high-interest saving account for beginners as it does not require huge deposits. It offers 1.20% APY which is good enough to facilitate quick accruing of interest as compared to the other fraction of percentage offering savings accounts. If you want to start earning interest right away on your savings, Ally is a good choice for it. In addition to instant accruement of interests, Ally also offers cost-free account maintenance. You can wire your funds at any time you want. The option of transferring funds free of cost to your other bank accounts is also available at the rate of 6 times per statement cycle.

Marcus- By Goldman Sachs

If you want to enjoy the freedom of free-of-cost transactions for an unlimited number of times and free account maintenance, Marcus is a perfect choice for it. The savings account offers a 1.50% APY with no requirement of minimum deposits. The transaction methods include mail a check, bank transfer, wire transfer or direct deposit from Social Security or employer. You can request the withdrawal of funds from your online account as well as by calling on toll-free numbers.

Synchrony

Synchrony is one of the best high-interest savings accounts as it offers a competitive interest rate of 1.65% APY. This savings account does not restrict the users to deposit a daily amount which means that you will continue to receive interest irrespective of how small of an amount you have in your account. The bank also features a perks program. The users can avail hotel and flight discounts based on the period of their account usage and the amount of savings in their account.

MySavingsDirect

If you are looking for a completely online and simple way of opening and using a high-interest savings account, My Savings Direct is a perfect pick for it. It offers a simple registration process which is completely online. The depositing and withdrawal of funds are also done online. It offers an interest rate of 0.65% APY and requires no minimum deposits and no fees.

Barclays

Barclays offers an ultimate way of motivating the users towards savings. In addition to the high interest rate of 1.50% APY, Barclays also offers cash bonuses for users who entertain positive savings habits. This means that not only will you be receiving profit on your savings but also get a change to avail bonuses.