Nobody likes watching their money just gather dust. Keeping an eye on savings account rates is key, and you’ll find some right now at about 5.00% APY. That’s over 10 times better than the national average. It’s a great way to let your money grow with no effort.
We gather the top rates daily, so you don’t have to. Whether you’re starting a new nest egg or have extra cash, consider a high-yield savings account.
Here are today’s best savings rates and some tips to choose the right fit for you.
|
Bank Account |
APY |
Minimum Account Balance |
|---|---|---|
|
Varo Savings |
up to 5.00% |
Max APY on up to $5,000, 2.50% APY after |
|
Axos ONE® |
up to 4.66% |
$1,500 |
|
Pibank Savings |
4.60% |
$0 |
|
Peak Bank Envision High Yield Savings |
up to 4.54% |
$100 to open, 2.02% APY on balances of $10,000,000 and above |
|
Presidential Bank Advantage Savings |
up to 4.50% |
$5,000 to open. Must maintain an Advantage Checking Account to be eligible for top APY. |
Data source: Issuing banks. Rates are accurate as of April 15, 2025.
Why we chose these savings accounts
The accounts above stood out to us for several key reasons:
- High APYs. These are among the most competitive interest rates available, helping your money grow faster.
- Low barriers to entry. Some accounts have low or no minimum deposit requirements to open or earn interest.
- Available nationwide. These banks let you open an account from anywhere in the U.S. without needing to join a local credit union.
- Online convenience. Every account listed can be opened and managed entirely online from your phone or computer.
Want to grow your money without locking it up?
High-yield savings accounts combine flexibility with competitive interest. If you value easy access to your funds and no long-term commitment, an HYSA may be the perfect fit.
Explore more options:
Should you open a high-yield savings account now?
Have spare cash just lounging in a low-interest account? It might be time to switch things up. With current high rates, high-yield savings accounts can boost your funds and keep them handy. Consider one of these accounts if you want to earn more without having to lock away your money for a period of time.
Most HYSAs are insured by the FDIC, so they’re safe. Plus, they provide easy online access and often have low or no fees. They offer the freedom you need with no fixed terms.
Enjoy better returns with the convenience of easy access to your cash. They’re great for saving up for emergencies, home repairs, or future getaways. Click here to compare the best high-yield savings accounts and open one today.
How to open a high-yield savings account
Getting started with a high-yield savings account is easy and usually takes just a few minutes:
- Compare your options. Look for the best APY, but also consider fees, ease of access, and minimum balance rules.
- Apply online. Most accounts can be opened from your phone or computer — no paperwork required.
- Fund your account. Link an existing checking or savings account and transfer the amount you want to deposit.
- Set up recurring deposits (optional). Some accounts offer higher APYs when you make regular monthly contributions.
- Track your balance and earnings. Interest usually compounds daily and is paid monthly, helping your savings grow faster over time.