A high-yield savings account is a great spot to grow your money while keeping it within reach. The highest APYs today range from 4.50% to 5.00%, more than 10 times above the national average.
We’ve scoured the top banks to find the best rates for you. With these accounts, your money can grow faster than ever.
Check out our list below for the top 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 |
TIMBR High Yield Savings | 4.55% | $1,000 |
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 10, 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 in a low-interest account? It’s time to make your money work harder. Right now, high-yield savings accounts are offering great rates on the back of the Federal Reserve holding rates steady.
Think about opening one if you:
- Want to earn more without locking up your money
- Like having FDIC insurance for peace of mind
- Need flexibility instead of a fixed term
- Want low fees and easy online access
These accounts let your money grow while staying accessible. They’re perfect for emergency funds, planned expenses, or short-term goals you aim to achieve soon. Don’t miss the chance to boost your savings. Click here to compare the best high-yield savings accounts and open one todaystyle=”text-decoration: underline”>.
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.
