Savings accounts usually earn more interest than other accounts. They're usually online, and don't have a debit card, so it's not as easy to dip into your money. Higher interest rate. The higher the interest rate, the faster your hard-earned savings will grow. A competitive savings account will offer an interest rate of at least 2.2%. A transaction account will usually have an interest rate between 0% and 0.5%. Make unlimited online transfers to your linked Day2Day Plus Account while still earning Bonus Interest. 2: Ubank 2.10% $200,000 USaver + Ultra. Must deposit $200 per month. Discover's high-yield savings account includes many valuable perks. The bank's combination of a bonus, high APY, no fees at all, and ease of use are factors that make for the best online savings accounts. Account holders can earn one of two bonuses when using offer code FOOL919, applying by 10/7/19,