Highest Yielding Savings Account Rates for Texas, TX

Includes Online Banks, Local Banks and Credit Unions / Updated November 22, 2024

All rates listed are Annual Percentage Yield (APY).
 
  • Annual Percentage Yield Details
  		• 5.01% Online Rate
    $2,500 Min. to Earn APY
    • City National Bank of Florida, TotalDirect's parent, is owned by Banco de Crédito e Inversiones, a Chilean bank.
    • Users complain of customer service that is impossible to reach by phone or online, and difficulties with transfers.
    • Accounts are not permitted for residents of Florida, Puerto Rico, American Samoa, Guam, Northern Mariana Islands and the US Virgin Islands

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    | June 13, 2023 |

    5% + on a savings rate is attractive, but the phone reps are trained to tell people as a first response to come to a branch to address any inquiries. (Thankfully, I don't live in Florida but I also means ... More Reviews

  		• 5.00% Online Rate
    $0 Min. to Earn APY
    • LevelUp Savings Account. Requires direct deposit of at least $250/month. Customers not qualifying receive a lower rate.
    • No Minimum balance required.
    • No Transfer limits.
    • Free ATM card and no ATM fees.
    • May be quick to lower rates.
    • Name is concerning for a bank, but bank was previously Radius Bank.

    | September 18, 2022 |

    Let's see. A bank with a name like "LendingClub" that is focused on predatory straight cash lending in an economy that has gone from flush with cash to a deep recession (depression?) and that has a website... More Reviews

  		• 5.00% Online Rate
    $100 Min. to Earn APY
    • Rate requires download of bank app and recording of over 12,500 average daily steps (or 10,000 if over age of 65).
    • Easy transfers.
    • Consistently competitive rates.
    • Rates are much lower for those who do not meet step goals.

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    | October 2, 2022

    easy workaround - open account with minimum balance, download app, do your steps, fund your account at end of month. easy. More Reviews

  		• 5.00% Online Rate
    $2,500 Min. to Earn APY
    • Strong APY that has been consistently competitive.
    • Convenient transfer rules.
    • Cambridge Savings Bank, Ivy's parent, is over 188 years old.
    • $2,500 minimum deposit to open account.
    • Not available to CA residents.

    | November 13, 2023 |

    Indexed savings product from this bank is now 5.71%. Better than anything else on this site or available anywhere. More Reviews

  		• 5.00% Online Rate
    $25,000 Min. to Earn APY
    Online Savings Account. Not currently accepting new accounts.
  		• 5.00% Online Rate
    $100,000 Min. to Earn APY
  		• 4.95% Online Rate
    $25,000 Min. to Earn APY
    • Bank5 Connect is a Massachusetts-based bank and member of the Massachusetts Depositors Insurance Fund (DIF), providing up to $1 million per depositor in insurance in the event of a bank failure.
    • Your balance in the account may not drop below $25,000 or you will not earn the advertised rate.
  		• 4.90% Online Rate
    $100 Min. to Earn APY
    • Customers appreciate friendly service of a small, mid-Western family owned bank.
    • Rate is extended for new customers only and customers who are not paying regular attention may be earning a much lower rate.
    • Web experience is generally considered to be average.
    • Transfers inbound and outbound are severely restricted.

    | July 14, 2021 |

    My husband and I opened an account here. We were happy to get the slightly higher rate for a bit, but they were quick to lower it. And, then the fees started. More Reviews

  		• 4.85% Online Rate
    $0 Min. to Earn APY
    • Easy ACH transfers to other accounts without limits.
    • No fees or minimums.
    • Emigrant Bank, DSD's parent, has a history of offering competitive rates in one subsidiary for a few months and then making that rate less competitive and focusing on a different subsidiary.

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    | June 13, 2023 |

    These Emigrant subsidiaries - Dollar Savings Direct and My Banking Direct - are a real nuisance when one offers a better rate that the other will not match. Transfers are next day though. So I can trans... More Reviews

  		• 4.85% Online Rate
    $1 Min. to Earn APY
    • A division of Flagstar Bank / New York Community Bank which merged in 2023.
    • The bank is in imminent danger of failing, even though it received a temporary lifeline from Mnuchin in March 2024.
    • External transfers are limited to $50,000/day and $200,000/month and take 4 business days.
    • Highest rates may not automatically be extended to all depositors.
    • The bank charges a $30 fee if you close the account within 180 days of opening it.

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    | July 30, 2022 |

    That signature card that they email you and require that you upload a jpeg of your signature. pay close attention to it. It has your account number on it. If you submit the jpeg signature before you wri... More Reviews

  		• 4.85% Online Rate
    $2,000 Min. to Earn APY
    • Brilliant Bank entered the online banking market in August 2022.
    • ACH transfers are limited to $5,000/day and charged at $2.55 per transfer.
    • Initial reviews are not glowing.
    • Bank reports that this rate is available for new accounts online. Customers who opened money market accounts prior to use of the "Magnetic" name are earning a lower rate.

    | June 29, 2023 |

    I had a Luminary account at 5.25% that I opened a week ago. When I login in, it had changed to a Magnetic account at 4.65%. I will close my account before the weekend and never do business with this ba... More Reviews

  		• 4.80% Online Rate
    $0 Min. to Earn APY
  		• 4.80% Online Rate
    $1,000 Min. to Earn APY
    • Consistently competitive rates.
    • Friendly service that you would expect from a small bank.
    • $1,000 minimum to open.
    • External transfers are limited to $30,000 per week.
    • Paperless options are not available.

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    | May 22, 2023

    Your personal experiences OUTSIDE the bank shouldn't be the basis for your review of how the bank actually functions. More Reviews

  		• 4.75% Online Rate
    $0 Min. to Earn APY
    • A recognized institution that was formed by the merger of an average online bank and the Teachers Insurance and Annuity Association of America.
    • Savings and CD rates are ordinarily not competitive.
    • Website is very weak.
    • Customer service is inaccessible and very poor.

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    | November 21, 2023 |

    Everbank is the same name that was issuing foreign currency CDs and saying there was no risk and then violating their own T&C to not pay out. It is back. Terrible bank, no matter what the name. More Reviews

  		• 4.75% Online Rate
    $1 Min. to Earn APY
    • Competitive rates.
    • Friendly service from a family-owned bank.
    • $5,000/day ACH transfer limits.

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    | October 13, 2022 |

    might be a good as a local bank, but not set up as an online bank More Reviews

  		• 4.75% Online Rate
    $1 Min. to Earn APY
    • No service fees or transaction limits.
    • Rate available to online accountholders only.
    • Online banking portal is reported to have been down frequently since February 2023 product launch.

    | April 29, 2023 |

    Primis's online savings account is a half-baked product that isn't ready for market. They brought this live and expect their customers to be these beta testers. I'd choose something else. More Reviews

  		• 4.75% Online Rate
    $5 Min. to Earn APY
  		• 4.75% Online Rate
    $100 Min. to Earn APY
    • Formerly known as Comenity Direct.
    • Outbound ACH transfers limited to $10,000/day or less.
    • Customers report receiving lots of cross-selling solicitations for lending products.

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    | November 7, 2023 |

    The rates are good but it was a hassle getting my account set up. The app does not work. I purchased a 5 year CD and I hope I don't have any issues when it's time to cash it out. I wouldn't recommend Bread... More Reviews

  		• 4.75% Online Rate
    $100 Min. to Earn APY
    Quontic Money Market Account.

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    | November 27, 2021 |

    I tried to open account and was rejected. Called and was treated worse than I could have imagined any bank ever treating anyone. These guys can go to hell. More Reviews

  		• 4.75% Online Rate
    $100 Min. to Earn APY
  		• 4.75% Online Rate
    $1,000 Min. to Earn APY
    • Consistently competitive savings rates.
    • No monthly fees.
    • Strong mobile app with full functionality.
    • Bank's own Online Money Market account is currently offering a higher rate.

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    | May 8, 2023 |

    This is just a wonderful bank to do business with. I have some concerns about all of these smaller California banks so my husband and I just stay below FDIC insurance amounts ($500,000 as a couple). It is ... More Reviews

  		• 4.75% Online Rate
    $5,000 Min. to Earn APY
  		• 4.65% Online Rate
    $0 Min. to Earn APY
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    | July 20, 2023 |

    This should be a red flag on their CD accounts! "APYs on term deposits assumes reinvestment of principal and interest at maturity, fees may reduce earnings on accounts." More Reviews

  		• 4.61% Online Rate
    $1,000 Min. to Earn APY
    • Fast ACH transfers that are free of limits.
    • Friendly and helpful customer service.
    • Savings rate is not always competitive.
    • Bank fees may be assessed.

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    | May 30, 2023 |

    Thank you to this site for showing this CD rate. I could not find it on the three leading sites (Bankrate, BestCashCow or Nerdwallet). Heck, I couldn't even find it easily on CIBC's own website, but that... More Reviews

  		• 4.60% Online Rate
    $0 Min. to Earn APY
  		• 4.60% Online Rate
    $0 Min. to Earn APY
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    | February 22, 2024 |

    They gave me the new, lower CD rate even though I had opened the account online when the CD rate was 0.15% higher. I checked with Wells and they had even initiated the transfer before they lowered the rat... More Reviews

  		• 4.60% Online Rate
    $100 Min. to Earn APY
    • Rate is extended for new customers only. Customers who opened accounts with the "High Rise" or "Ultimate" Savings names are earning a much lower rate.
    • Customers complain of web glitches in the application and the user experiences.
    • Transfers inbound and outbound may be restricted.

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  		• 4.60% Online Rate
    $5,000 Min. to Earn APY
  		• 4.57% Online Rate
    $1 Min. to Earn APY
    • Sometimes offers competitive rates.
    • Bank reports that this rate is for new customers opening a "High Yield Savings" account only.
    • Customers who opened accounts earlier called "Priority", "Preferred" or something else are earning a lower rate.
    • Bank has a long history of alternating between competitive and non-competitive savings rates, and has been known to drop rates for existing customers and offer higher rates to attract new customers.
    • Customer reviews are not glowing.

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    | March 13, 2023

    Correction: Apparently, they profit by paying less interest on previously opened accounts, where the lower rate stays the same, unless YOU request the account be converted to the NEWLY advertised account N... More Reviews

  		• 4.55% Online Rate
    $5,000 Min. to Earn APY
    • Consistently competitive rates.
    • Competent friendly customer service.
    • Customers have been experiencing long wait times to reach customer service.
    • Some functionality has been removed from the website and it is no longer possible to close a No Penalty CD online.

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    | May 3, 2023 |

    Something changed with CIT. They are offering a higher rate, but funding it by substantially increasing the hold times on transfers out and in. Marcus is terrible with the rates, but I can still get my m... More Reviews

  		• 4.55% Online Rate
    $10,000 Min. to Earn APY

    | December 12, 2022 |

    Great rate, easily application process. It is the only rate as of today that beats a 13-month Treas so makes sense for anyone like me in Florida or another 0 state tax. More Reviews

  		• 4.52% Online Rate
    $1 Min. to Earn APY
    • Consistently among most competitive online savings rates.
    • Users complain of poor and inattentive customer service.
    • Website is poorly laid out and confusing.

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    | October 30, 2022 |

    I got into this one and a couple of other small Utah banks last years when I saw that they were a little higher than national rates (something like 0.70% versus 0.50%). Whatever I made with this adjustme... More Reviews

  		• 4.50% Online Rate
    $0 Min. to Earn APY
    • Rate is extended for new customers only and customers who are not paying regular attention may be earning a much lower rate.
    • Web experience is not well reviewed.
    • Wall Street analysts believe that First Horizon Bank may be in jeopardy following its failed acquisition by TD Bank.

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    | June 27, 2023 |

    Amataur outfit - stay away More Reviews

  		• 4.50% Online Rate
    $0 Min. to Earn APY
    • Online savings division of KeyBank that was designed to service doctors and has now been extended to the general public.
    • Web experience is generally not favorably reviewed.
    • KeyCorp, KeyBank's parent, is currently considered by some Wall Street analysts to be in jeopardy due to its long history of involvement in highly complex structured derivatives.
  		• 4.50% Online Rate
    $0 Min. to Earn APY
    • Bank will ask for extensive information to verify identity and may do a hard credit pull before opening a money market account.

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    | January 4, 2023 |

    I've been a customer for many years. The folks are always really helpful. Just a great bank all around. I am not entirely sure about Western States as an online bank, might be hesitant to do business wi... More Reviews

  		• 4.50% Online Rate
    $0 Min. to Earn APY
    • Consistently competitive savings rates.
    • Friendly customer service that is very responsive.
    • Interest is paid quarterly, instead of monthly.

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    | July 18, 2022 |

    And how is this an online bank if they are inundating me with invitations to a customer appreciation free movie showing in some remote location in Utah? More Reviews

  		• 4.50% Online Rate
    $50 Min. to Earn APY
    • Competitive rates.
    • Friendly service.
    • Bank does not offer ACH processing. Transfers must be initiated from outside bank.
    • Not a no fee account.

    | April 3, 2023 |

    everything is a challenge for these guys.

    I would not recommend it to anyone outside their geography who can get to one of their physical locations to fix stuff in person. More Reviews

  		• 4.50% Online Rate
    $300 Min. to Earn APY
  		• 4.50% Online Rate
    $1,000 Min. to Earn APY
    • Excellent customer service from a small Midwestern bank.
    • Outbound external transfers limited to $25,000 per day.
    • No penalty CDs will lose all accrued interest if terminated between quarterly payments.

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    | June 21, 2021 |

    This account is great. Had first opened an online savings account and then I locked into the 18-month No Penalty CD. While interest is still lost if you get out before a quarterly payment date, it provides... More Reviews

  		• 4.50% Online Rate
    $25,000 Min. to Earn APY
    Not accepting new accounts online at this time.
  		• 4.48% Online Rate
    $25 Min. to Earn APY
    Requires checking account.
  		• 4.46% Online Rate
    $50,000 Min. to Earn APY
    New money only. Requires Direct Deposit. Account carries a $15 monthly service charge.
  		• 4.45% Online Rate
    $50,000 Min. to Earn APY
  		• 4.45% Online Rate
    $1,000,000 Min. to Earn APY
All rates listed above are Annual Percentage Yield (APY). The APY rate in a savings account or money market account is a variable rate that is subject to change at any point.

The 4 Most Recognized Online Banks

Marcus by Goldman Sachs



Marcus, the online banking arm of Goldman Sachs, offers high Savings and No Penalty CD rates with no transaction fees ever. Throughout its existence, Marcus has been consistently interest rate competitive and offered super fast ACH transfers (although you can also deposit by check or wire transfer), easy web access and strong customer service. While the FDIC only insures an individual’s account balances to $250,000, you can maintain up to $1 million in a Marcus account.

Citizens Bank


Citizens logo

Citizens Bank N.A. is one of the oldest and most established banks in the US and has now been in the online banking space for several years. Accounts here have been consistently competitive and Citizens never charge any fees so long as you maintain a $5,000 balance.

Ally Bank



Ally Bank is the former GMAC bank but its strong advertising campaign has built an independent name recognition over the last decade. The bank today is known for its great customer service, user-friendly mobile apps, and low CD early withdrawal penalties. Once you open an Ally account, you also have access to offers on their suite of other products, including Ally Invest, a recently launched online trading platform.

Synchrony Bank



Synchrony Bank, formerly GE Capital Retail Bank, has offered very competitive online savings and CD rates for some time and is well recognized for its strong customer service. A Synchrony account gives access to a travel discount program and an ATM card for easier access to your cash. However, the bank lacks a mobile app and the website can be frustrating.

Summary of Online Savings Rates

Bank Institution Interest Rate (APY) Minimum Balance
for APY		 Best For
TotalDirect, a division of City National Bank of Florida 5.01% $2,500 Money Market
LendingClub 5.00% $0 LevelUp Savings
Ivy Bank, a division of Cambridge Savings Bank 5.00% $2,500 Online Savings Account
Neighbors Bank 5.00% $25,000 Online Savings Account
Bank5 Connect 4.95% $25,000 Jumbo Savings
Vio Bank, A Division of MidFirst Bank 4.90% $100 Cornerstone Money Market

RATES&INFO SAVINGS ACCOUNT QUESTIONS AND ANSWERS

What is a savings account?

A savings account is an interest-bearing bank account that allows you to preserve your cash. Your cash is secure as long as you remain within FDIC limits (or NCUA limits for federal credit unions).

What is a money market account?

A money market account is virtually identical to a savings account, except not bound by certain transaction restrictions (the most significant of which is a limit of 6 outbound transactions to outside bank accounts per month). Rates&Info does not distinguish between savings accounts and money market accounts. We list the best rates above for both products above.

Is my money safe in a savings or money market account?

As long as your total deposit accounts (savings, checking, CDs, etc.) with each bank do not exceed $250,000 for each ownership category, your deposits are insured in full by the Federal Deposit Insurance Corporation (FDIC) which is backed by the full faith and credit of the U.S. Learn more here. The National Credit Union Administration (NCUA) provides similar insurance for deposits with its member credit unions.

How do I find the best high interest savings account?

The table above lists the best online bank accounts with high interest rates. It also lists the highest yielding money market accounts and the best high yield savings account rates at banks and credit unions near you. By listing all of these rates on one table, Rates&Info enables you to determine the best bank for your savings account based on not just the best high yield savings rates that are available to you but also the convenience of a local branch.

What is the best online bank for savings?

The five most recognized online banks for savings in the US are currently Ally Bank, Barclays Bank Delaware, CIT Bank, Goldman Sachs Bank and Synchrony Bank. All of these have low account opening requirements and low or no minimum account maintenance requirements. The rates at these banks can vary. This table shows you which of these banks, and others, have the highest online savings account rates. Customer service levels, website and mobile app functionality, and transfer speeds also vary widely. User reviews on other websites may help you to determine which of these is the best for your needs.

What is the best easy access savings account? What is the best bank for savings accounts? What is the best regular savings account for me?

Many people still prefer to keep their money at local credit unions and local banks because they prefer personal (not telephonic or internet-based) interaction with their banks, want to build a relationship with a local banker for other transactional matters, and often need cash or cashier’s checks instantly. The table above demonstrates all of the rates in one table so that you can compare rates at these institutions with online rates. If online rates are more competitive than those rates at banks and credit unions near you, you should consider opening a savings account at a bank with a branch near you and tying it to an online savings account where you can keep cash above those minimum levels required by your local bank or credit union.

How do I open an online savings account?

Opening an online savings account or money market account is simple. Online banks first verify your identity through a driver’s license or other ID and a credit pull from Experian or Equifax (usually soft). You will then need to fund the account through mailing a check or entering an ABA and account number from an account that you may have at another bank (a funding account). Confirming ownership of the funding account requires entering your username and password for that account or confirming the amounts of one or two small test deposits after they have arrived.

What is the best fixed-rate savings account?

Savings rates can be lowered or raised at any time by the bank or credit union at their discretion. That is the nature of the product. If you have cash that you are extremely unlikely to require access to and seek a higher rate of return, you should consider a certificate of deposit (CD). You can compare CD rates at online banks, local banks and credit unions here.

What is the best child savings account?

A child savings account is a great way to teach children about the importance of saving money. This is a hard lesson to teach when rates are so low (and remain below real inflation rates)! Although some online banks (Ally and Capital One 360) offer these accounts, local banks are usually better set up for child savings accounts. Depending on the state in which you reside, a guardian (usually a parent) is required to open the account and to oversee the account until the age of 18 or 21. Because of the documentation required, you should consider opening a child savings account at a bank with which you or your spouse already have a banking relationship.

The graph above shows how the average rates for online savings accounts have trended over the last several years.

Learn More about online savings on BestCashCow →

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