High-Yield Savings Accounts: Your money could be earning almost 12 times more right now. The average savings account gives you just 0.41% APY, but the best high-yield savings accounts currently pay up to 4.86%.
Our team surveyed more than 100 financial institutions and discovered many banks that offer rates above 4%. These accounts come with FDIC insurance up to $250,000, which makes them completely secure. This makes them a great way to get better returns whether you need an emergency fund or want to save for something big.
The digital world has many high-yield savings options. We analyzed them all to find the 15 best accounts available in March 2025. Let us help you pick an account that matches your financial goals by comparing minimum balances, digital features, and more.
Axos Bank High-Yield Savings Accounts – 4.86% APY
“At Axos Bank, we liberate customers from the constraints of traditional banking. Because we’re digital, our overhead costs are lower than traditional banks. Smarter savings means more money for you.” — Axos Bank, Digital banking institution
Axos Bank’s ONE savings account shines with a remarkable 4.86% APY, putting it at the top of High-Yield Savings Accounts options.
Axos Bank Account Features and Benefits
The ONE savings account pairs perfectly with a checking account to give you a complete banking package. On top of that, it compounds your interest daily to maximize your savings growth potential. Your money stays protected with FDIC insurance up to $250,000 for individual accounts and $500,000 for joint accounts .
Account Requirements and Fees
You can earn the premium 4.86% APY by meeting one of these requirements:
- Keep an average daily balance of $1,500 and get monthly direct deposits of $1,500 in your ONE Checking account
- Maintain an average daily balance of $5,000 and receive monthly external transfers or checks of at least $5,000
Your account earns a base rate of 1.00% APY if you don’t meet these requirements. The good news is you won’t pay any monthly maintenance fees, and there’s no minimum balance needed to open an account.
Digital Banking Capabilities
Axos’s mobile app serves as your personal finance hub with features like:
- Account linking across your financial institutions
- Bill payments on autopilot
- Live spending and saving insights
- Free credit score updates
The app’s security features protect you with biometric authentication – fingerprints, voiceprints, and facial recognition. You’ll also enjoy access to more than 91,000 fee-free ATMs nationwide.
Customer Service Experience
You can reach Axos Bank’s support team 24/7 through:
- Evo, your virtual financial assistant for quick help
- Secure messages in online banking
- Phone support at 888-502-2967 (closed on Thanksgiving and Christmas)
Recent customers praise the bank’s quick responses and easy-to-use platform. As one customer puts it: “Excellent customer service, good mobile app experience, especially impressed with mobile deposit, good website experience, understandable services and setup”.
Openbank High-Yield Savings – 4.75% APY
“The best high-yield savings account rate is 4.75% APY from Openbank. That’s more than 11 times the FDIC’s national average for High-Yield Savings Accounts of 0.41% APY.” — Margarette Burnette, Senior Writer & Content Strategist at NerdWallet
Openbank, Santander Bank’s digital division, offers a remarkable High-Yield Savings Accounts option with a 4.75% APY. This rate is nowhere near what traditional High-Yield Savings Accounts provide – it’s actually ten times higher.
Account Overview and Features
The high-yield savings account stands out with these key features:
- Your money stays protected up to $250,000 through Santander Bank’s FDIC insurance
- You won’t pay any monthly maintenance fees
- Your account stays secure with biometric authentication
- Interest rates can change at any time without notice
The account gives you round-the-clock access through a mobile platform. You can manage your money whenever you want.
Minimum Balance Requirements
Here’s what you need to open an Open bank high-yield savings account
- A $500 deposit to get started
- After opening, keep any balance you want – there’s no minimum
- You must be a U.S. citizen or resident alien
- Your home address must be in an eligible service area
Right now, the account isn’t available if you live in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, or Rhode Island.
Mobile Banking Experience
Openbank focuses on mobile-first banking with these features:
- You can open your account in just 5 minutes
- You’ll need a smartphone or tablet that supports biometric features
- The app includes detailed account management tools
- Moving money between accounts happens securely
All the same, you should know about some limitations. The platform doesn’t offer:
- ATM access or debit cards
- Mobile check deposits
- Regular checking accounts or CDs
The mobile app works on both App Store and Google Play. User ratings tell different stories – 4.6 stars on one platform and 2.1 on the other. Your device must have face or fingerprint recognition technology to keep your account secure .
You can qualify for an account if you’re at least 18, have a U.S. mobile number, and don’t have other deposit accounts with Santander Bank branches . This account works best if you’re comfortable with digital-only banking and want competitive savings rates .
Pibank High-Yield Savings Accounts – 4.60% APY
Pibank, a brand of Intercredit Bank N.A., offers a great 4.60% APY savings account with no deposit needed to start . This new rate took effect on February 3, 2025, based on market changes .
Account Highlights
The Pibank Savings account comes with some great benefits:
- Your money is FDIC insured up to $250,000 per person, or $500,000 for joint accounts
- You don’t need to keep any minimum balance
- The Pibank App lets you check your account any time you want
- You can talk to real people from 8 a.m. to 8 p.m. Eastern time, every day of the week
The bank wants you to save more money and grow your wealth . They’re upfront about rate changes too – like when they adjusted from 4.75% to 4.60% APY on February 4, 2025 .
Fee Structure
Pibank keeps things simple with its no-fee policy:
- No monthly fees to worry about
- No penalties if your balance runs low
- No extra charges for transactions
- No surprise fees
Other banks might charge you for wire transfers coming in or going out
Online Banking Tools
The Pibank App is your gateway to banking that lets you:
- Manage your money whenever you need
- See your balance updates instantly
- Move money safely between accounts
- Use technical cookies that make the site work better
The platform gives you lots of online banking features, but you can’t use Bill Pay or Zelle right now. Users have mixed feelings about the mobile app on both Android and iOS, even though it covers basic banking needs.
Intercredit Bank, Pibank’s parent company, holds an A+ rating from the Better Business Bureau. The bank uses different types of technical cookies to keep things secure, analyze data, and personalize your experience – these cookies last for 12 months.
BrioDirect High-Yield Savings Accounts – 4.55% APY
BrioDirect, powered by Webster Bank, offers a high-yield savings account with a competitive 4.55% APY. This online-only bank delivers secure and straightforward savings solutions.
Account Features
You’ll need $5,000 to open an account that comes with these benefits:
- No monthly maintenance fees
- Just $25 minimum balance earns the stated APY
- Interest compounds daily and credits monthly
- Six preauthorized transfers allowed each month
A $10 fee applies when transfers go beyond the monthly limit . The account also has paper statement fees of $5 .
Interest Rate Details
The variable interest rate gives you:
- 4.55% APY when balances stay above $25
- Daily interest compounding
- Monthly interest added to your account
- Rates change based on market conditions and federal funds rate
Banking Platform Overview
BrioDirect delivers detailed online services as a digital-first bank:
- Access your account anytime through online and mobile platforms
- Move money between linked accounts
- Deposit checks through mobile app until 7:00 PM ET daily
- View transactions from the last 90 days
Your funds clear in 1-3 business days after deposit, depending on the method . The platform helps organize transactions into categories for better money management .
Security Features
BrioDirect keeps your money safe with:
- Multi-layer protection protocols
- TouchID and FaceID biometric authentication
- One-time password verification
- Security question authentication
- Text, email, or push notifications for account activity
The system watches for suspicious activities and sends immediate alerts . Webster Bank provides FDIC insurance for all deposits up to maximum allowable limits .
Fitness Bank Savings – 4.55% APY High-Yield Savings Accounts
Fitness Bank has transformed High-Yield Savings Accounts by connecting interest rates to how active you are. Account holders who stay active can earn competitive rates up to 4.55% APY .
Unique Account Features
The account helps you grow your money while tracking fitness through:
- Interest compounding daily with monthly credits
- Account balances capped at $250,000
- Free online banking and external transfers
- Integration with popular fitness devices like Fitbit, Garmin, Apple Health, and Google Fit [
The bank counts various physical activities beyond walking. Running, cycling, and swimming all convert into step equivalents . This flexibility lets account holders stick to their favorite exercise routines.
Requirements for Maximum APY
You can earn the top-tier 4.55% APY when you:
- Keep an average of 12,500 daily steps (10,000 for seniors aged 65+)
- Open with a minimum deposit of $100
- Maintain $100 minimum average daily balance to waive the $10 monthly fee
- Sync step data between the 1st and 3rd of each month
Your interest rate depends on your average daily steps:
- 12,500+ steps: 4.55% APY
- 10,000-12,499 steps: 3.00% APY
- 7,500-9,999 steps: 1.00% APY
- 5,000-7,499 steps: 0.75% APY
- 0-4,999 steps: 0.50% APY
Mobile App Integration
Fitness Bank gives you two helpful apps:
- FitnessBank Mobile Banking App
- View account balances and transactions
- Transfer funds between eligible accounts
- Search transactions by date or amount
- FitnessBank Step Tracker App
- Connects with fitness devices and health apps
- Converts various activities into step equivalents
- Tracks your step data accurately for rate qualification [
Both apps provide secure account management and fitness tracking features . New users get the top-tier rate until the adjustment date after their first full month .
TotalBank Money Market – 4.51% APY
TotalBank’s Money Market account stands out as a great choice for savers who want higher returns with its competitive 4.51% APY . This account combines smooth online banking with excellent earning potential that appeals to customers with larger deposits.
Account Benefits
The account comes with several advantages:
- Daily interest compounding with monthly credits
- Zero monthly maintenance fees
- FDIC insurance keeps your money safe
- User-friendly online banking
The high deposit limit of $1 million helps larger savings portfolios grow faster. Account holders can also move their money easily through simple online transfers .
Balance Requirements
The balance structure works like this:
- You need $25,000 to open the account
- Keep at least $2,500 to earn the 4.51% APY
- Your money won’t earn interest if balance drops below $2,500
- Each client can deposit up to $1 million maximum
The bank uses the daily balance method to calculate interest. They apply the daily periodic rate to your collected balance each day. Interest rates can change since the bank adjusts them as needed.
Transfer Capabilities
The account gives you flexible transfer options with these limits:
- Incoming ACH transfers up to $250,000 per transaction
- Outgoing ACH transfers up to $25,000 per transaction
- Monthly limits: $500,000 incoming and $250,000 outgoing
- ACH deposits and withdrawals without fees
You can add money through online transfers from your linked accounts or deposit checks through TotalBank’s mobile app. The account allows six transactions monthly, and you’ll pay a $10 fee for each extra transaction
The bank’s mobile platform lets you check balances, set up transfers, and manage your money quickly While Zelle isn’t built into the platform, you can still use it by downloading the Zelle app and connecting your TotalBank account.
Jenius Bank Savings – 4.50% APY
Jenius Bank launched in 2023 with a high-yield savings account that earns 4.50% APY. This rate is ten times higher than the national average of 0.41%.
Account Overview
The savings account keeps things simple with these features:
- Daily interest compounding maximizes your earnings
- Start saving with any amount you choose
- Every transaction comes with zero fees
- You can open joint accounts to save money together
The bank believes in clear pricing and doesn’t charge:
- Monthly maintenance fees
- Withdrawal fees
- Inactivity fees
- Overdraft fees
- Account opening/closure fees
- Excessive transaction fees
Digital Banking Features
Jenius Bank puts technology first with these convenient features:
- Mobile apps that work on Android and iOS devices
- Live balance updates
- Quick transfers between accounts
- Mobile check deposits
- A complete financial dashboard that shows money from every source
The platform helps you make smart money decisions with its budgeting tools and spending analysis. People can open accounts anywhere in the US, except New Mexico and Hawaii.
Customer Support Options
Jenius Bank knows human help matters in digital banking and offers:
- US-based support teams available 24/7
- Multiple ways to get help:
- Phone support at 844-453-6487
- Online chat assistance
- TTY relay services for customers with hearing impairments
SMBC MANUBANK’s digital banking division runs Jenius Bank, which gives it a resilient foundation . Customers need to connect an external bank account to move money in and out. This link lets them set up transfers, direct deposits, and manage their savings quickly.
Vibrant Credit Union High-Yield Savings Accounts– 4.50% APY
Vibrant Credit Union’s Preferred Savings account pays a generous 4.50% APY on balances up to $14,999.99. This rate is more than ten times higher than the national average savings rate of 0.33%.
Membership Requirements
You can join Vibrant Credit Union in two ways:
- Sign up with the Illinois Consumer Council (ICC) – Vibrant covers your membership fees
- Live or work in eligible areas of Illinois, Indiana, Iowa, or Wisconsin
Members need to keep $5 in their Membership Share account. New members can start earning high rates right away without jumping through hoops.
Account Features
The Preferred Savings account comes with great benefits:
- Zero monthly maintenance fees
- No minimum balance needed
- Make as many transfers and withdrawals as you want
- Dividends paid every month
- Interest calculated daily on your average balance
Your money earns interest at these rates:
- 4.50% APY on balances up to $14,999.99
- Attractive rates on balances from $15,000 to $1 million
ATM Access
Banking becomes easier with Vibrant Credit Union through:
- Interactive Teller Machines (ITMs) at every Coffeehouse branch
- Video chats with Vibrant tellers during business hours
ITMs work with tellers Monday through Friday (8:30 a.m. to 5 p.m. CT) and Saturday mornings (8:30 a.m. to noon). These machines work like regular ATMs outside business hours, ready to serve you whenever Coffeehouse locations are open.
Poppy Bank Premier High-Yield Savings Accounts– 4.50% APY
Poppy Bank’s Premier Online Savings offers a 4.50% APY guaranteed for three months after you open an account. This rate brings stability when market rates keep changing.
Account Features
Premier Online Savings combines great returns with everything you need:
- Your money stays protected with FDIC insurance up to allowable limits
- You need $1,000 minimum deposit to earn the stated APY
- The original funding happens through Plaid with a $10 million cap
- The account has no monthly maintenance fees
- Sign up for electronic statements to avoid the $5 monthly paper statement fee
The account lets you make up to six free withdrawals monthly through online banking . Each extra withdrawal costs $5.
How Interest Works
Poppy Bank uses a smart way to calculate your interest:
- Your money compounds daily
- Interest goes into your account monthly to boost earnings
- The daily rate applies to your main balance
- Non-cash deposits start earning interest on the next business day
- You keep earned interest even if you close the account before the credit date
Online Banking Tools
The digital platform makes money management simple with:
- A quick online account setup
- Easy ACH transfers between your accounts
- Daily transfers up to $10,000
- High-Yield Savings Accounts
- A 30-day transfer limit of $30,000
- Zelle integration to send money to friends and family
The user-friendly banking platform helps you manage all transactions. ACH transfers usually clear in 1-2 business days. You can open individual or joint accounts online only . The bank doesn’t offer business or trust accounts currently.
Strong security measures protect your account while giving you flexibility to manage it. The online platform lets you watch your transactions, plan transfers, and handle your savings quickly . The mobile app gives you banking access on the go, so you can check balances and make transactions anywhere.
Vio Bank Cornerstone Savings – 4.46% APY
Vio Bank’s Money Market Savings account serves as the life-blood of their savings products with a competitive 4.46% APY. This rate places it among the best savings options for customers who want higher returns on their deposits.
Account Benefits
The account rewards customers with several key advantages:
- Daily interest compounding helps maximize earnings
- Zero monthly fees with paperless statements
- FDIC protection covers up to $250,000
- Scheduled transfers make High-Yield Savings Accounts automatic
- Money stays available whenever needed
The bank shows its steadfast dedication to competitive rates by monitoring market conditions to keep rates among the nation’s best. Paper statements cost an extra $5 monthly fee.
Minimum Balance Requirements
Starting a Vio Bank account is simple:
- $100 opens your account
- No minimum balance needed after opening
- Every balance tier earns interest
- Deposit limits ensure FDIC protection
Mobile Banking Capabilities
Vio Bank’s mobile app works on iOS and Android devices with detailed features:
- Track balances and search
- Deposit checks through your phone
- Move money between accounts
- View statements and tax forms
- Log in with fingerprint or face recognition
Apple users rate the iOS app 4.4/5.0 based on 801 reviews. Android users give their version 2.9/5.0. Customer service helps by phone Monday through Friday (7 a.m. to 9 p.m. CT), Saturday (8 a.m. to 6 p.m. CT), and Sunday (noon to 4 p.m. CT).
Money moves through transfers to external bank accounts. The account doesn’t offer ATM cards or checks. MidFirst Bank, a 112-year-old Oklahoma institution, operates Vio Bank. This top 100 U.S. bank combines stability with attractive returns.
Newtek Bank Personal Savings – 4.45% APY
Newtek Bank’s Personal High Yield Savings account offers a competitive 4.45% APY. This rate puts them among the top banks and gives returns more than ten times the national average .
Account Features
The savings account gives you these great benefits:
- You can open and maintain the account with no minimum balance
- You won’t pay any monthly service fees
- Your money stays protected with FDIC insurance up to $250,000
- You can open your account in just 2 minutes
Right now, Newtek has a waiting list for new Personal High-Yield Savings Accounts due to high demand. This helps them provide quality service to existing customers and keep their current rates steady.
Digital Banking Tools
Newtek’s mobile app is a powerful financial management tool that lets you:
- See your transaction history
- Deposit checks from your phone
- Make transfers easily
The app has got great reviews from users with 4.4 stars on Google Play and 4.6 stars on the Apple Store. You’ll need to connect an existing bank account to make deposits and withdrawals .
Security Measures
Newtek Bank keeps your money safe through:
- Physical safeguards
- Electronic protection systems
- Procedural security measures
Their security system has:
- Password-protected servers with restricted access
- Strict staff access controls
- Quick alerts for any suspicious activity
The bank will notify you by phone, email, or mail if there’s a data breach. Customer support is available weekdays from 8 a.m. to 8 p.m. ET [. They’ll help you with account questions or security concerns.
The Office of the Comptroller of the Currency regulates the bank, which holds an A+ rating from the Better Business Bureau . This shows their dedication to honest business practices and excellent customer service. As part of NewtekOne (NASDAQ: NEWT), the bank makes use of their 20-year experience in business solutions .
Zynlo Bank Money Market High-Yield Savings Accounts – 4.40% APY
Zynlo Bank, a PeoplesBank division, offers an impressive money market account with a 4.40% APY. This is a big deal as it means that the rate is six times higher than the national average of 0.64%.
Account Overview
This money market account comes with several great features:
- Just $10 to open the account with no minimum balance after that
- No monthly fees or penalties
- Start earning interest with just one penny
- The 4.40% rate applies up to $250,000, while higher balances earn 0.10% APY
The account works perfectly for people who want high returns without restrictions on their money. Zynlo sets itself apart by not limiting transactions, giving customers complete freedom to manage their funds.
Mobile Banking Experience
Banking with Zynlo happens through two main ways:
- Desktop online banking portal
- Mobile app for banking anywhere
Account holders can easily:
- See their transaction history
- Check balances
- Deposit checks through their phone
- Move money between account
Customers can deposit up to $10,000 daily and $50,000 monthly. External transfers have limits of $10,000 per day and $25,000 per month.
Transfer Options
Moving money with Zynlo is simple:
- Instant transfers between Zynlo accounts
- Links to external bank accounts for transfers
- Send money High-Yield Savings Accounts to others through Zelle
Help is always available through multiple channels. Live support agents work:
- Weekdays: 8 a.m. to 10 p.m. ET
- Weekends: 10 a.m. to 2 p.m. ET
The bank’s security measures protect customers while keeping things simple. Rather than charging overdraft fees, they simply decline transactions. This approach shows their steadfast dedication to honest, customer-first banking.
Bread Savings High-Yield – 4.40% APY
Bread Savings, previously Comenity Direct, offers a simple high-yield savings account with a 4.40% APY. This online bank operates under Comenity Capital Bank and aims to maximize customer returns through competitive rates with minimal fees.
Account Features
The savings account balances easy access with growth opportunities through several benefits. Customers need $100 to open an account, and deposits can go up to $1 million. The account charges no monthly maintenance fees and provides free incoming wire transfers. Customers can deposit checks through their mobile devices without limits.
A few services come with nominal charges:
- Official check requests: $15
- Outgoing wire transfers: $25
- Paper statement requests: $5
Interest Rates and Tiers
Your money starts earning interest right after deposit. The account offers daily interest compounding and monthly interest credits. The stated APY applies to all balance tiers without minimum balance requirements.
The bank processes deposits according to standard availability schedules. New accounts using ACH transfers must receive funds before 5 p.m. CT during business days to process the same day .
Online Banking Platform
The digital system combines security with ease of use:
- Round-the-clock account access via mobile and desktop
- Direct customer support
- Free transfers between connected accounts
- Advanced security monitoring
- FDIC protection up to $250,000 per depositor
Support staff helps customers from 7 a.m. to 9 p.m. on weekdays and 9 a.m. to 5 p.m. CT on weekends. Account holders must be:
- 18 years or older
- Have a valid U.S. Social Security number
- Live at a physical U.S. address
The bank believes in clear communication about fees and services . Remember that withdrawals need transfers to external bank accounts since ATM access isn’t available.
My Banking Direct High-Yield Savings Accounts– 4.40% APY
My Banking Direct, backed by Flagstar Bank N.A., offers a high-yield savings account with 4.40% APY [1]. This makes it an excellent choice for savers who want strong returns.
Account Benefits
The high-yield savings account comes with several straightforward features:
- You need $500 to open an account
- Your money earns interest from $1
- No monthly maintenance fees
- FDIC protects up to $250,000 per depositor
- , showing strong financial stability and competitive returns.
Digital Banking Tools
Flagstar’s Mobile Banking app serves as your main platform to manage accounts with these features:
- Quick balance checks using fingerprint and FaceID security
- Mobile check deposits
- Zelle payments between users
- Mobile alerts
- Credit score tracking
The platform keeps your data safe with Transport Layer Security protocol and encryption. Users rate the mobile app highly – 4.7 stars on the App Store and 4.0 stars on Google Play.
Customer Support
My Banking Direct makes it easy to get help through multiple channels:
- 24/7 automated system
- Talk to a live banker:
- Monday-Friday: 8 a.m. to 8 p.m. EST
- Saturday: 9 a.m. to 5 p.m. EST
You can also send secure messages through online banking. The bank updates its security measures regularly, and the core team receives ongoing training about new cyber threats and protection.
The bank helps you save more with automatic recurring deposits. You can choose between percentage-based contributions from your paycheck or set monthly amounts. This helps you reach your financial goals while earning competitive interest.
Rising Bank High-Yield High-Yield Savings Accounts – 4.40% APY
Rising Bank’s High-Yield Savings account gives a 4.40% APY nationwide. This account is a great way to get substantial returns if you have deposits to grow.
Account Features
The savings account delivers simple yet strong benefits:
- USD 1,000 minimum opening deposit
- No monthly service fees
- Direct deposit capabilities through mobile banking
- Maximum deposit limit of USD 500,000
- FDIC insurance protection through Webster Bank
Your account will incur a USD 5 fee after 24 months of inactivity. Regular transactions help you avoid these charges and manage your account better.
Interest Calculation
Rising Bank calculates interest in a unique way:
- Monthly interest credit instead of compound interest
- 4.40% APY on balances above USD 1,000
- No interest earned on balances below USD 1,000
- Market conditions determine rate adjustments
Online Banking Experience
The digital platform offers detailed features that focus on convenience:
- Mobile check deposits with receipt photo capabilities
- Account alerts for balance updates and transactions
- Transaction categorization tools
- Mobile wallet compatibilit
The mobile app works on iOS and Android devices with positive user rating. Customers can use the platform to:
High-Yield Savings Accounts
- Track detailed account activity and balance history
- Move funds between internal and external accounts
- Schedule recurring payments for consistent savings
- Get eStatements instead of paper records
Rising Bank uses industry-leading security measures with encryption protocols to protect online banking sessions. The mobile app includes Zelle integration that makes person-to-person transfers easy.
Customer service teams help with account opening, rate questions, and digital banking guidance. The strong online platform lets you control your finances while earning competitive returns.
Comparison Table
| Bank Name | APY Rate | Minimum Opening Deposit | Monthly Maintenance Fee | Maximum Balance Limit | Mobile App | Special Requirements/Features |
|---|---|---|---|---|---|---|
| Axos Bank | 4.86% | $0 | $0 | $250,000 (FDIC) | Yes | Customers need $1,500 avg. daily balance & $1,500 monthly direct deposits |
| Openbank | 4.75% | $500 | $0 | Not mentioned | Yes | Service unavailable in CT, DE, MA, NH, NJ, NY, PA, RI |
| Pibank | 4.60% | $0 | $0 | $250,000 (FDIC) | Yes | No minimum balance needed |
| BrioDirect | 4.55% | $5,000 | $0 | Not mentioned | Yes | $25 minimum balance earns APY |
| Fitness Bank | 4.55% | $100 | $10* | $250,000 | Yes | Daily step count: 12,500 steps (10,000 for seniors 65+) |
| TotalBank | 4.51% | $25,000 | $0 | $1 million | Yes | $2,500 minimum balance earns APY |
| Jenius Bank | 4.50% | $0 | $0 | Not mentioned | Yes | Service unavailable in NM and HI |
| Vibrant CU | 4.50% | $5** | $0 | $14,999.99*** | Yes | Credit union membership required |
| Poppy Bank | 4.50% | $1,000 | $0 | $10 million | Yes | Rate guaranteed for 3 months |
| Vio Bank | 4.46% | $100 | $0**** | $250,000 (FDIC) | Yes | Interest compounds daily |
| Newtek Bank | 4.45% | $0 | $0 | $250,000 (FDIC) | Yes | Waitlist currently active |
| Zynlo Bank | 4.40% | $10 | $0 | $250,000 | Yes | APY becomes 0.10% above $250,000 |
| Bread Savings | 4.40% | $100 | $0 | $1 million | Yes | Wire transfers free when incoming |
| My Banking Direct | 4.40% | $500 | $0 | $250,000 (FDIC) | Yes | Earn interest starting at $1 |
| Rising Bank | 4.40% | $1,000 | $0 | $500,000 | Yes | Balances below $1,000 earn no interest |
* Waived with $100 minimum average daily balance ** Membership Share account requirement *** For highest APY tier **** $5 fee for paper statements
Conclusion
High-yield savings accounts are making waves with rates that reach 4.86% APY. These accounts help you earn almost 12 times more than what traditional High-Yield Savings Accounts offer. We looked at 15 top financial institutions and found great options that fit different saving styles and goals.
Axos Bank tops the list by offering 4.86% APY. Other banks follow closely with rates above 4.40%. You won’t find monthly maintenance fees with most accounts. The minimum deposit requirements vary between $0 and $25,000. Your money stays safe with standard FDIC insurance protection up to $250,000.
Your specific needs should guide your account choice. Some banks simply focus on competitive rates. Others add special perks – like Fitness Bank’s step-counting rewards or Poppy Bank’s three-month rate guarantee. Digital banking features are crucial. Mobile apps make it easy to manage your account.
Smart choices about where to keep your savings can affect your earnings by a lot. Take time to review your options regularly. Look beyond APY rates when choosing an account. Check minimum balances, maximum limits, and any special requirements that match your money habits.
Raed More:
FAQs
Q1. Which banks offer the highest interest rates onHigh-Yield Savings Accounts? Currently, Axos Bank leads with a 4.86% APY, followed closely by Openbank at 4.75% and Pibank at 4.60%. However, rates can change frequently, so it’s important to compare offers regularly.
Q2. What are the typical requirements for high-yield savings accounts? Requirements vary, but often include minimum opening deposits (ranging from $0 to $25,000), maintaining certain balances, and sometimes meeting specific criteria like direct deposits or step counts. Many accounts have no monthly fees if you meet these requirements.
Q3. How much more can I earn with a high-yield savings account? Significantly more. For example, a $50,000 deposit in a high-yield account offering 4.60% APY could earn over $2,300 in interest after one year, compared to just $230 in a traditional savings account with 0.46% APY.
Q4. Are high-yield savings accounts safe? Yes, these accounts are typically FDIC-insured up to $250,000 per depositor, offering the same protection as traditional High-Yield Savings Accounts. Always verify FDIC insurance coverage when choosing a bank.
Q5. What features should I look for in a high-yield savings account? Look for competitive interest rates, low or no minimum balance requirements, no monthly fees, robust mobile banking capabilities, and easy fund transfer options. Some accounts may offer unique features like fitness rewards or rate guarantees, which could align with your personal goals.
References
[1] – https://www.mybankingdirect.com/products/high-yield-savings.html
[2] – https://www.breadfinancial.com/en/bread-savings.html
[3] – https://www.poppy.bank/open-new-accounts/
[4] – https://www.viobank.com/cornerstone-money-market-savings
[5] – https://www.businessinsider.com/personal-finance/banking/vio-bank-review
[6] – https://thecollegeinvestor.com/33127/vio-bank-review/?srsltid=AfmBOooa3Pg-bKbfujc88v85rNzYY636_0J44VLubEY1WoNzx2f0AInf
[7] – https://www.depositaccounts.com/banks/poppy-bank/offers/
[8] – https://www.breadfinancial.com/en/bread-savings/high-yield-savings-account.html
[9] – https://www.risingbank.com/personal-banking/
[10] – https://www.investopedia.com/best-high-yield-savings-accounts-4770633