Following is a list of the best online banks in the United States based
on APY for online savings accounts. Annual Percentage yields are current
as of January 27, 2016.
GE Capital Bank
GE Capital Bank is an Internet only bank and does not have branch
locations. It was founded in 1993 and operates as a division of General
Electric Capital Corporation. As of September 2015, it had total assets
of $21.8 billion, loans of 11.1 billion and deposits of 17.2 billion.
The company employs about 150 people.
Online Savings Account
Annual Percentage Yield (APY): 1.05%
No minimum deposit to open
No transaction fees
Multiple ways to access your money
Six withdrawal limit per statement cycle
Maximum deposit amount $1,000,000
Deposits are insured by the FDIC
Synchrony Bank
Synchrony Bank is one of the most prominent online banks in the
market. It operates as a subsidiary of Synchrony Financial, one of the
premier consumer financial services companies and the largest provider
of private label credit cards in the United States. Synchrony Bank
offers certificate of deposits, money market accounts, savings accounts,
IRA CDs and IRA money market accounts. The Bank’s Optimizer+plus
savings CDs have been named the “Best CD” by Money Magazine in 2014
(Best Banks in America list). The company was founded in 1988 and is
based in Draper, Utah. With over 8,290 employees, it has over $43.3
billion in deposits, $43.5 billion in loans and $57.2 billion in assets
(September 2015).
High Yield Savings Account
Annual Percentage Yield (APY): 1.05%
A minimum balance of $30 is required to open an account and avoid a $5 monthly service charge.
Easy withdrawals online, over the phone or with an ATM card.
Deposits are insured by the FDIC.
24/7 automated telephone service
Ally Bank
Ally Bank operates as an online bank and has no branches. It serves
about 790,000 customers and offers savings and money market accounts,
checking accounts, certificates of deposit (CDs), IRA CDs and IRA online
savings accounts. The company has been named "Best Online Bank" by
MONEY Magazine four years in a row. Ally’s customer satisfaction score
has consistently remained over 90%.
Online Savings Account
Annual Percentage Yield (APY): 1.00%
No minimum deposit to open
No monthly maintenance fees
Deposits are insured by the FDIC
24/7 customer service by phone or IM
The most common services and transactions are free with Ally Bank
ACH transfers to your non-Ally Bank account $0
Statement copies online: $0
Unlimited deposits: $0
Incoming wires (domestic & international): $0
Postage-paid deposit envelopes: $0
Official / cashier's checks: $0
No hidden fees
Barclays Bank
Barclays Bank is an online bank and does not have branches. Its
operations in the US are subsidiaries of Barclays PLC, a British
financial services company. Barclays online banking business is located
in Wilmington, Delaware. The Bank reported total assets of $25 billion,
total deposits of $17 billion and loans of $19.9 billion in the first
quarter of 2015.
Online Savings Account
Annual Percentage Yield (APY): 1.00%
An award-winning account with rates 11x the national average.
No monthly maintenance fees
No minimum balances to open
Secure, 24/7 online access to your account
You may make up to 6 withdrawals from your Barclays Online Savings account per statement cycle.
CIT Bank
CIT Bank is an online-only bank established in 2000. It operates as
subsidiary of CIT Group Inc., a financial holding company with leading
positions in middle market lending, factoring, retail, and equipment
finance. The Bank offers high yield savings accounts, Traditional and
Roth IRAs, Certificates of Deposit (RampUp CDs, Jumbo CDs, and Term
CDs), custodial accounts (UTMA) and more. With over 1,140 employees, CIT
Bank has more than $16 billion in deposits, $14.7 billion in loans and
$21.1 billion in assets. Note: APY as of June 2015.
High Yield Savings account (Tier 1)Annual Percentage Yield (APY): 1.00%
Minimum Opening Deposit: $100
Minimum daily balance: $0
No maintenance fees
Free online banking
FDIC insured (FDIC insurance standard amount is $250,000 per depositor)
High Yield Savings account (Tier 2)
Annual Percentage Yield (APY): 1.00%
Minimum Opening Deposit: $100
Minimum daily balance: $25,000
No maintenance fees
Free online banking
FDIC insured
American Express Bank, FSB
American Express Bank, FSB is an Internet bank and has no physical
branches. It operates as a subsidiary of the American Express Company.
The Bank now has over $30 billion in deposits and $39 billion in loans.
It was established in 2000 and employs over 340 people.
High Yield Savings AccountAnnual Percentage Yield (APY): 0.90%
No monthly maintenance fees
No minimum balances to open
(You only need $1 to open an account)
Deposits are FDIC insured
24/7 Account Access by phone or web.
* High Yield Savings Account is fully protected by the Federal Deposit Insurance Corporation (FDIC).
American
Express High Yield Savings Accounts are limited to a maximum of 6
online and telephone withdrawals or debits per monthly statement cycle.
Discover Bank
Discover is an online bank with wide range of direct banking
products. It offers credit cards, checking and savings accounts,
certificates of deposit, money market accounts, private student loans,
personal loans and home loans.
Online Savings Account
Annual Percentage Yield (APY): 0.95%
No minimum balance
No monthly maintenance fees
Minimum opening deposit is $500
Deposits are FDIC insured
Fast and free online money transfers
24/7 customer service
Bank5 Connect
Bank5 Connect is an online-only bank. It offers checking and savings
accounts, CDs, online bill pay, eStatements, free mobile banking and
over services. It operates as a division of BankFive.
High-Interest Savings AccountAnnual Percentage Yield (APY): 0.90%
The minimum balance to open is $10.
The minimum balance to earn interest is $100.
Deposits are insured by the FDIC.
No ATM fees
Free online banking/eStatements
Free mobile banking
Savings can be used to cover overdrafts of checking account
http://www.relbanks.com/best-online-banks 
Manulife Bank 