A high-yield savings account is one of the best places to let your money grow while keeping it within reach. The top interest rates are between 4.50% and 5.00% right now, which is more than 10 times the national average.
We’ve done the hard work for you and researched the top banks to compile the best options with the highest rates available today.
Below is a list of savings accounts with the best APYs we’ve found.
|
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 11, 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?
If you have extra cash in an account that’s earning you very little, it’s a great time to make a change. High-yield savings accounts offer strong rates now, helping your money grow.
Consider opening one if you:
- Need low-fee, easy online access
- Want freedom and flexibility from your bank account
- Seek higher returns without locking funds away
- Value the safety net FDIC insurance provides
These accounts provide better returns while keeping your cash accessible. They’re perfect for home and auto repairs, vacation planning, or providing cushion in the event of job loss. 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.