Last Updated: November 2025
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FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
02
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
03
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
04
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
05
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
06
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
07
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
Best High-Yield Savings Account
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FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
01
American Express® Savings
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
3.50% Annual Percentage Yield* Savings
Apply for an account in minutes
02
SoFi® Checking & Savings
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
Get overdraft coverage
03
Openbank
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
Savings that work as hard as you do
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Western Alliance Bank High-Yield Savings
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
Earn your bonus in 3 simple steps
05
CIT Bank Platinum Savings
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
Tiered savings accounts with competitive rates
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Valley Bank
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
Earn up to $1000 with code EASY
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Discover® Online Savings Account
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
3.40% APY Online Savings Account
Best High-Yield Savings Account
01
American Express® Savings
FDIC Insured
FDIC insurance guarantees your deposits are protected by the U.S. government, usually up to $250,000 per account.
3.50% Annual Percentage Yield* Savings
Apply for an account in minutes
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Savings account rates fluctuate based on the economy and competition among banks. The current national average, or APY, is 0.42%. The best high-yield savings accounts have much higher rates with APYs of around 4% or more:
(Based on the latest FDIC estimates)
(Based on rates from our featured financial institutions)
Annual percentage yield, or APY, measures how much interest your account can earn over a year. The higher the APY, the more money you can earn.
Keep reading to learn more about how high-yield savings accounts work, or explore our best high-yield savings account 2025 reviews.
With a high-yield savings account, or HYSA, your deposits earn more over time. These accounts can be a smart way to grow your savings faster, particularly when it comes to building emergency funds or saving for future goals.
Here’s how a $5,000 deposit into a high-yield savings account would grow at different rates:
Pros
Cons
To open a high-interest savings account, start by visiting the bank’s website and completing the application. The process is quick and typically takes only a few minutes. You may need to provide proof of identification, such as your Social Security number or tax ID, which is a standard requirement for opening any bank account.
Once your account is set up, you can link an existing bank account to transfer money in and out of your HYSA account. Some accounts may require an opening deposit, which is usually between $1 and $100.
Additional steps for opening a specialized bank savings account:
Ratings Disclaimer: The star ratings of our teams are established by our editorial team, utilizing scoring formulas that consider various data points for each financial product and service.
SoFi Disclaimer: New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults)and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
CIT Bank Disclaimer: Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of November 20, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100. For complete list of account details and fees, see our Personal Account disclosures.
American Express® Savings
Save more effortlessly with no fees
The American Express® High Yield Savings Account is designed to help maximize savings with no minimum balance requirements and no monthly fees. Offering a competitive 3.50% APY, it features daily compounding interest to boost long-term growth. With easy online account management, auto-deposit options, and the trusted support of American Express, it provides a simple and reliable way to grow savings.
SoFi® Checking & Savings
Convenient, high-yield banking
SoFi®’s combination Checking and Savings Account is designed for easy money growth, featuring some of the best annual percentage yields around. Customers can take advantage of up to 4.30% APY, zero account fees, solid customer support, and access paychecks two days ahead of time.
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