Brilliant Bank – 5.35% APY surge money market (minimum $2,000 to avoid fee)(see this comment).PopularDirect – 5.40% APY savings (see this comment).Milli – 5.50% savings account (requires mobile app).Here are the best options available, rated in APY from highest to lowest: These are all ordinary savings accounts with no hoops to jump through, and they are FDIC/NCUA insured up to $250,000 ( please verify insured status for yourself before using a bank). With a little research, we can find accounts that offer competitive rates.
Leaving money in a regular bank account will usually get you a terrible interest rate.
