A high-yield savings account is a smart way to grow your money while keeping it handy. Want to earn more than 10 times the national average on your cash? The accounts we feature here could earn you between 4.50% and 5.00% APY.
We’ve checked the leading banks to find the best ones for you. These accounts could help your money grow fast, with no need to lift a finger beyond opening and funding the account.
Explore our list of the top savings account APYs available now.
|
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?
Got extra cash in a regular savings account earning peanuts? It’s a good time to think about switching. With rates still high, high-yield savings accounts offer a way to grow your money without losing access.
Opening a high-yield savings account could make sense if:
- You want to earn more interest without locking up your money
- You prefer flexibility over committing to a fixed term
- You want an account with no or low fees and easy online access
- You value safety — most accounts are FDIC insured
High-yield savings accounts give you a better return while keeping your cash handy. They’re great for emergencies, home repairs or upgrades, or vacations you’re planning. 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.