10 Best High-Yield Savings Accounts
If you want a safe place to park your money and earn interest, a high-yield savings account is a solid choice. The top accounts right now offer APYs way above the national average of 0.42%. For example, Axos Bank pays 4.66% APY, Openbank pays 4.40%, and there are others. The higher the rate, the faster your savings grow. Many of these accounts also have no fees and low minimum deposits. Here are 10 of the best options.
Axos ONE Savings offers 4.66% APY. That means your money earns more each month. If you’re stuck with a lower rate, switching to this account can boost your savings without any extra work.
LendingClub’s online savings account pays 4.40% APY if you deposit at least $250 during the previous statement cycle. If you don’t, the rate drops to 3.40%. There’s no minimum balance and no monthly fees, so it’s a flexible option.
Openbank launched in October 2024 as Santander’s digital division. It offers a single FDIC-insured savings account at 4.40% APY. Deposits are insured through Santander, but both banks share a single insurance pool of up to $250,000. This rate is much better than the 0.01% many big banks offer.
EverBank is a full-service online bank with checking, savings, money market, and CDs. Its Performance Savings account pays 4.30% APY, which is competitive for savers who want a single bank for everything.
Forbright Bank offers a high-yield savings account at 4.25% APY with no monthly fees and no minimum balance. It also has CDs, but no checking accounts, so you’d need another bank for that. If you’re near a branch, you can go in person. Online, you get the Growth Savings account and CDs, plus unlimited fee refunds for non-Forbright ATM withdrawals.
CIT Bank is an online bank that offers higher rates and lower fees than many competitors. Its Platinum Savings account pays 4.10% APY. Switching from a low-rate account can help your savings grow faster with no extra effort.
Barclays has been around since the 17th century, but its online banking is modern. Its savings account pays 4.00% APY on balances under $250,000 and 4.20% on amounts at or above that. It also has a goal-setting tool. The downside: no checking account.
SoFi (founded 2011) offers a Checking and Savings account that earns 3.80% APY on savings if you enroll in SoFi Plus with direct deposit, deposit at least $5,000 every 30 days, or pay a $10 monthly fee. Without that, the rate drops to 1.00%. The checking portion earns 0.50% APY. No minimum deposit or monthly fees, and both accounts are FDIC-insured and accessible via mobile app.
Capital One (established 1988) offers a 360 Performance Savings account with a flat 3.60% APY on all balances, no minimum deposit, and no monthly fees. It also has an interest-earning checking account with no fees. Plus, you get credit score tracking and savings goal tools.
Discover’s Online Savings Account pays 3.60% APY. It has a user-friendly website and highly-rated mobile apps. New customers can get a $150 or $200 bonus depending on deposit amount. No minimum deposit, and customer support is available 24/7.
