This review was updated January 26th, 2018. Review The Motley Fool's advertiser disclosure.

We think Alliant's high-yield savings account is among the best offerings for yield-hungry savers (read our full list of our picks for the best high-yield savings accounts to uncover more options). Alliant offers the convenience you expect when banking with a major national bank while also delivering both a high annual percentage yield (APY) and low fees, which are more common among credit unions. These are the primary reasons why we like this savings account -- but let's take a closer look and see if Alliant High-Rate Savings matches your needs as well.

Bank Name APY Min. Opening Deposit Key Features

Alliant High-Rate Savings


1.50% $5 (Alliant will pay)

-$0 monthly maintenance fee

-Free ATM convenience card

-Mobile app

-80,000+ surcharge-free ATMs

RELATED >> Compare hundreds of savings rates to find a high yield

What we like about Alliant High-Rate Savings

  • High APY -- A 1.50% APY puts Alliant High-Rate Savings among the higher flat rates we've come across for an online savings account. Keep in mind the APY only kicks in when your average daily balance exceeds $100.
  • $0 monthly maintenance fee -- Cutting fees is crucial to harvest the most value from interest earnings.
  • Free ATM convenience card -- Including an ATM convenience card amps up the value of banking with Alliant and the card provides easy access for cash withdrawals and deposits at qualifying ATMs.
  • 80,000+ surcharge-free ATMs -- Alliant has a wide network of surcharge-free ATMs. Just keep your eyes peeled for Alliant-owned ATMs and those that are part of the Alliance One, Allpoint, CO-OP Network, Credit Union 24 CU Here, and Publix Presto networks. Alliant claims that its number of surcharge-free ATMs exceeds that of Chase and Bank of America combined.
  • Mobile app -- A user-friendly mobile app is a necessity for an online savings account, and Alliant's highly rated app includes key features such as electronic transfers to/from external accounts and mobile check deposits.

What could be improved for Alliant High-Rate Savings

  • Membership qualification -- Alliant is a credit union, so it naturally has membership requirements that banks and online savings accounts don't. More than anything, this is a modest knock on credit unions, not Alliant specifically. You are eligible to join Alliant if any one of the following is true: 1) You're a current or retired employee from one the many businesses and organizations Alliant partners with in the U.S.; 2) You're an immediate family member or a domestic partner of a current Alliant member; 3) You've donated at least $10 to Foster Care to Success; or 4) You live or work in one of the communities near Alliant's corporate headquarters in Chicago.
  • Withdrawal restriction -- Once customers surpass six withdrawals in a single month, they're limited to accessing funds via ATM only. There is no withdrawal-limit fee per se, as with some online savings accounts, but customers may incur a fee when using an out-of-network ATM.

WANT YOUR SAVINGS TO EARN MORE? >> Check out current CD rates

How to fund an Alliant High-Rate Savings account

Savers have several convenient ways to start parking their cash in an Alliant savings account, including free electronic transfer from an external account, deposit at an Alliant deposit-taking ATM or branch, mobile deposit, direct deposit, incoming wire, and a mailed-in physical check.

How to withdraw funds

Withdrawing funds is similarly convenient and can be completed by electronic transfer to an external account, outgoing wire, physical check, and visiting an ATM or branch.

Other high-yield savings accounts to consider

Alliant's high-yield savings account meets our criteria for a top-tier option, but different savers value different features. We'd suggest visiting our banking center to compare hundreds of high-yield savings accounts or reviewing some of our other picks for the best high-yield savings accounts below, especially if a market-leading interest rate and/or a cash bonus is a must-have.

Feature Alliant High-Rate Savings American Express® Personal Savings   CIT Bank Money Market
APY 1.50% 1.65% 1.85%
Min. opening deposit $5 (paid by Alliant)


Bonus $0 $0 $0
Monthly maintenance fee $0 $0 $0
Withdrawal limit fee $0 $0 $0
ATM card Yes No No
Free ATMs Yes N/A N/A
Mobile app Yes No Yes
Mobile deposit Yes No Yes
Bank review --  American Express® Personal Savings Review  --

Final take

We think Alliant strikes the right balance of features and convenience that customers should expect from an online high-yield savings account. While credit union membership limits eligibility somewhat, it's worth noting that anyone can become a member by paying the $10 price of admission with a charitable donation to Foster Care to Success. Gaining access to Alliant's feature-packed savings account may be well worth the price.

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