A high-yield savings account helps your money grow while remaining accessible. Current top APYs range from 4.50% to 5.00%, over 10 times the national average.
We’ve scoured the data and compared accounts for you to find the top banks offering these competitive rates.
Check out our list of savings accounts with the best APYs available today.
|
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 |
|
BrioDirect High-Yield Savings |
4.50% |
$5,000 to open, $25 to maintain |
Data source: Issuing banks. Rates are accurate as of April 14, 2025.
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 extra cash earning next to nothing? It’s time to switch things up. High-yield savings accounts are currently offering great rates to grow your money.
Think about opening one if you:
- Want low fees and easy online access
- Need flexibility and freedom from strict terms
- Seek higher returns without locking in your funds
- Value the security of FDIC insurance
These accounts boost returns while keeping your cash handy. They’re ideal for unexpected repairs, vacation savings, or as a safety net if you lose your job. 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.
- Keep an eye on your APY. Bank’s can raise or lower APYs at their discretion. If you see yours decrease substantially, it may be time to look around for a new account.