Find the Best Savings Account

Are you willing to walk for a higher return? There’s an app (and account) for that.

Since the Federal Reserve started pushing down short-term interest rates over the summer, chances are that the rate on your savings account has fallen. If you’re looking for the best possible yield, go to (opens in new tab) and select the amount you intend to deposit, as well as your zip code or state. You’ll see a list of the highest-yielding accounts in your area.

One interesting option you’ll find there: the Fitness Bank Savings Account. To get the top rate (2.75%), you must walk an average of at least 12,500 steps a day (10,000 steps if you’re 65 or older). Steps are tallied through a mobile app linked to a fitness tracker, such as a Fitbit. You’ll still earn interest if you walk fewer steps—2.5% for 10,000 steps (7,500 for ages 65 and up) and 1.75% for 7,500 steps (5,000 for ages 65 and up). No matter how many steps you log, you have to maintain a balance of $100 or more to avoid a $10 monthly fee.

An account interest rate that is tops today may fall way back in the pack tomorrow. If you’d rather avoid shuffling money from one account to the next, seek out one that consistently offers a strong yield.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

Ken Tumin, of (opens in new tab), reviewed top-yielding online savings accounts and found that the three with the highest average rate over the past two years are PurePoint Financial Online Savings, with a current 2% rate on a balance of at least $10,000; Live Oak Bank Online Savings, yielding 2% with no minimum required; and the SFGI Direct Savings Account, offering 2.27% with a deposit of at least $1. None of those accounts charges a monthly maintenance fee.

Easy access to your cash. If you want to write checks or make debit card transactions from savings, look into a money market deposit account. The Redneck Bank Mega Money Market (it’s a legitimate bank, despite the unconventional name) recently yielded 2.25%, with no monthly fee or minimum-balance requirement (but a $500 opening deposit), and it comes with a debit card.

Lisa Gerstner
Contributing Editor, Kiplinger's Personal Finance

Lisa has spent more than15 years with Kiplinger’s Personal Finance and heads up the magazine’s annual rankings of the best banks, best rewards credit cards, and financial-services firms with the best customer service. She reports on a variety of other topics, too, from retirement to health care to money concerns for millennials. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.