Today we’re going to be discussing the best bank accounts of 2020 – that pay you the highest interest rates possible – and you can see which is right for you. Enjoy! Add me on Instagram: GPStephan

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FIRST: Capital One 360 Savings Account
1% interest Rate – No Fees – No Minimums.
The good news with Capital One is that they also have a totally free CHECKING ACCOUNT, as well…which, is slightly different from some of the other banks I’m going to mention here, which only offer a SAVING account. That pays you 0.1% interest.

SECOND: American Express Savings
1% Interest Rate – No Fees – No Minimums
However, with American Express – even though you’re getting a 1% interest rate, this account is JUST MEANT TO BE A SAVINGS ACCOUNT and that’s it. Unfortunately, they do not offer a checking account – so, you’re not getting any debit card, and you’re not getting a checkbook…it’s only a linked account online that you can transfer money into, earn that 1% interest – and then whenever you actually need access to the money, you can transfer it out and to another bank of your choice.

THIRD: Ally Bank
1% Interest – No Fees – No Minimums
Ally Bank is a full on bank – and they have checking accounts. Those checking accounts also pay interest..If you keep less than $15,000 in the account, they’ll pay you 0.1%, which is the same as the Capital One 360 account – EXCEPT, once your balance exceeds $15,000 – they’ll raise your interest rate to .5%.

Ally Bank is also a lender, so you can get a loan through them if you decide to do that. And they’re also an investment platform with $0 stock trades. So, in a way – you can get everything money-related done in one spot, from your checking account, stock trading account, and loan account.

FOURTH: Vio Bank
1.04% Interest – No Fees – $100 Minimum to sign up
HOWEVER…the downside is that, like American Express – this is ONLY an online savings account, which means no debit card, no checks, and if you want to get your money in or out – you have to setup a bank to bank transfer which will likely take a few days to complete.

FIFTH: Redneck Bank
1.1% Interest on first $10,000 – No Fees – $500 Minimum to sign up
They also have – instead of a savings account – a money market account, that pays up to 0.85% on balances up to $50,000.

SIXTH: Varo Bank
1.21% Interest – No Fees – $500 Minimum to sign up
They’ll also LET YOU potentially earn up to 2.8% interest, up to a $10,000 balance….if you meet the minimum criteria. To do that within their savings account, you must make at least 5 debit card purchases in a month – which, most people do super easily just by buying $5 amazon gift cards, FYI. You must also have at least $1,000 worth of direct deposits going into the account. And the account CANNOT EXCEED $10,000. So, OVERAL…this is still a GREAT option, and the 1.21 to 2.8% interest rate makes a LOT of cents for anyone with less than $10,000 and doesn’t mind jumping through a few small hoops to get the higher interest rate.

LAST: T-Mobile 4% Savings Account
First, the 4% interest rate is ONLY available to T-Mobile customers…so, if you’re not with T-Mobile, this rate won’t apply to you. Second, the interest rate is ONLY available for the first $3000 in the account – after that, you’ll earn 1% interest. Which is still REALLY, REALLY good…but it’s far from the 4%. Third, you’ll also need $200 per month in direct deposits into the account to be eligible.

If you can meet all 3 requirements, then YES – 4% is an AMAZING rate to get, even if it’s only up to the first $3000 – and for T-Mobile Customers, as long as you don’t mind opening up an account – this is a good one to get.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.



Robert Dunfee


  1. Joshua Petersen
    July 18, 2021 at 10:59 am

    Make a new vid about this plz

  2. Ana Rose
    July 18, 2021 at 10:59 am

    thank you so much for the information

  3. Taabish Matloob
    July 18, 2021 at 10:59 am

    Please update this video for 2021!

  4. Mitchell Carson
    July 18, 2021 at 10:59 am

    Why not just put all my money in a saving account to reap the high interest, then transfer it over to my checking when I need it.

  5. Ruben Salazar
    July 18, 2021 at 10:59 am


  6. SoSickWidit
    July 18, 2021 at 10:59 am

    This video is like totally outdated, what’s good now my guy

  7. Paul Reyes
    July 18, 2021 at 10:59 am


  8. Analisa Maris
    July 18, 2021 at 10:59 am

    Nice strategy I must say. I didn't earn as
    Much as this video claim but I earn about 3250USD every week and I don't do that using video

  9. K
    July 18, 2021 at 10:59 am

    Ally Bank lowered the interest rates because of the stock market due to the pandemic… Duh?

  10. Oralis Icelo
    July 18, 2021 at 10:59 am

    THANK YOUUUUU. I've been looking for this type of content for hours and I cannot believe i didnt come here first. Thank you again.

  11. Matthew chacon
    July 18, 2021 at 10:59 am

    What’s just a good bank account for an 18 year old trying to save? It seems like with every new video I’d have to move my money around.

  12. Erik Garcia
    July 18, 2021 at 10:59 am

    Can you make a video on best credit unions

  13. solange vargas
    July 18, 2021 at 10:59 am

    Hi I just turned 18 and I was thinking about getting a credit card(Discover it secured) , but apparently I need to be associated with a bank account first? can someone please explain the difference between the two and why I need to have one in order to have the other first? I want to build good credit in the next two years enough for me to be able to put down a mortgage etc.

  14. Camila
    July 18, 2021 at 10:59 am

    how do you deposit cash into ally bank?

  15. almo safira
    July 18, 2021 at 10:59 am


  16. Mike David
    July 18, 2021 at 10:59 am

    Great video! Thanks so much for all the research you put into making the video!

  17. Crystal
    July 18, 2021 at 10:59 am

    what about yotta savings?

  18. audrey Call
    July 18, 2021 at 10:59 am

    I just have to say that I have been watching your videos for over a year now and you have taught me so much. I truly enjoy your videos because you make finances comprehensive and encourage me to pursue my financial goals. Your videos are realistic and have solid advice.

  19. Jumana A
    July 18, 2021 at 10:59 am

    Does Ally Bank have a no-interest option??

  20. DJplaymySong
    July 18, 2021 at 10:59 am

    I need an update

  21. Mario Reviews
    July 18, 2021 at 10:59 am

    Been a year having capital one bank. They're getting better and better everyday making it a (almost) perfect bank for me

  22. Luke M
    July 18, 2021 at 10:59 am

    What’s the best account now to park my savings in?

  23. acastr1234
    July 18, 2021 at 10:59 am

    April 2021 Ally and Capitol One at .50%