Currently, the best online savings account I have found (one with highest rating and easiest to use) is DollarSavingsDirect.com. All accounts are FDIC insured, according to law, and the current interest yield is 1.50%. This is the website branch of Emigrant Bank, which has been around since 1850. Quite a good deal! I have all of my emergency savings money in this account.

Go to www.dollarsavingsdirect.com to open up an account for free. The minimum account balance is $1,000

Account Highlights
• Open your account online. It's quick and easy.
• No Fees. $1,000 account balance minimum.
• No need to change your checking account. Your Dollar Savings Account™will be linked to your current checking account.
• Access your account 24/7 at DollarSavingsDirect.com.
• Have a question? Visit our FAQ page.