Best High-Yield Savings Accounts
Here of some of the top earning high-yield savings accounts available today


If you don't already have a high-yield savings account, why not? By not taking advantage of saving rates, which are currently very high, you're leaving money on the table. Easy money. Setting up a high-yield savings account is simple and straightforward, making it a no-brainer place to save your cash. You'll earn interest on your money over time, with zero effort on your part.
Currently, savings rates on high-yield accounts are notably high. They've been rising since March 2022, when the Fed began hiking interest rates in an attempt to combat high inflation. At the last meeting, the central bank raised interest rates for the 11th time, boosting the fed funds rate, a key overnight bank lending rate, to a target range of 5.25% to 5.50%. Analysts think more rate hikes are still a possibility later this year, which means savings rates could go slightly higher.
Right now, some of the top earning savings accounts are offering rates over 4% to 5%, significantly higher than the national average of 0.42% for traditional savings accounts.

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High-yield savings accounts
Here are some of the top earning high-yield savings accounts available today:
BluPeak Credit Union
- APY: 5.33%
- Minimum opening deposit: $25
- No fee with a balance of $200; otherwise $5
CloudBank 24/7
- APY: 5.26%
- Minimum opening deposit: $1
- No monthly fee
Pacific Western Bank
- APY: 5.25%
- Minimum opening deposit: $1
- No monthly fee
UFB Direct
- APY: 5.25%
- Minimum opening deposit: $0
- No monthly fee
Popular Direct
- APY: 5.25%
- Minimum opening deposit: $100
- No monthly fee
CIT Bank
- APY: 5.05%
- Minimum opening deposit: $100
- No monthly fee
Bask Bank
- APY: 5.00%
- Minimum opening deposit: $0
- No monthly fee
Synchrony
- APY: 4.75%
- Minimum opening deposit: $0
- No monthly fee
Citizens
- APY: 4.50%
- Minimum opening deposit: $0.01
- No monthly fee
Betterment
- APY: 4.75%
- Minimum opening deposit: $10
- No monthly fee
Quontic
- APY: 4.50%
- Minimum opening deposit: $100
- No monthly fee
Discover
- APY: 4.30%
- Minimum opening deposit: $0
- No monthly fee
SFGI Direct
- APY: 4.26%
- Minimum opening deposit: $1
- No monthly fee
Opening a high-yield savings account is a great option if you're looking for a risk-free way to maximize your savings. Unlike CDs, where your cash is locked away for a certain period of time, high yield savings accounts let you easily access the funds in your account. For this reason, they're good options for short-term savings goals or emergency funds. Plus, sometimes these accounts offer a savings account bonus, putting more money in your pocket.
Another way to browse rates on high-yield savings accounts is by using our tool, in partnership with Bankrate, below.
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Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.
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