Best 6% Interest Savings Accounts Available Now
Want 6% interest on your savings? You could earn an APY of 6% or higher with these accounts, but you'll want to lock in rates soon.
Savings rates won’t be this high forever. In fact, now may be your last chance to score some of the best savings rates. Rates on many top-earning accounts have noticeably been dropping over the last two weeks, so opening an account now, rather than later, could pay off. However, despite the decline in rates, several accounts still offer impressive yields, in some cases 6% or more.
6% interest or higher
Here are some of the highest-yielding accounts available, offering at least 6% APY.
Orion Federal Credit Union
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
APY: 6.00%
Based in Memphis, Tennessee, the Orion Federal Credit Union Premium Checking account offers 6% APY on balances up to $10,000. And higher balances still earn a solid rate of 5%. To qualify for the best rate, you’ll need to make electronic deposits totaling at least $500 per month, as well as spend at least $500 a month on your Orion debit or credit card. If requirements are not met, you’ll be charged a $5 monthly fee. The account has no minimum balance requirements.
Nuvision Credit Union
APY: 6.00%
You can score a 10-month CD with an APY of 6% with Nuvision Credit Union, but you’ll want to act fast. This rate is only available until July 31, 2024. The account has a minimum opening requirement of $1,000, and balances cannot exceed $5,000. There are no monthly fees. After your CD matures, it will convert to a 12-month CD.
Digital Federal Credit Union
APY: 6.17%
The Primary Savings account from Digital Federal Credit Union offers an APY of 6.17% on balances up to $1,000. Balances above $1,000 will only earn 0.15% APY. There is a $5.00 minimum to open the account, but a minimum balance requirement to earn APY. Plus, there are no monthly fees.
Landmark Credit Union
APY: 7.50%
With Landmark Credit Union’s Premium Checking account, you can earn up to 7.50% APY, but only on balances up to $500. You’ll need to enroll in eDocuments and have a direct deposit of at least $250 a month to qualify. The Minimum deposit required to open the account is $35 and there are no monthly maintenance fees. While this account offers an extremely impressive rate, it might not be the best place to store your cash, as you’ll only earn 7.50% on the first $500 you put in the account.
5.50% APY or higher
Though there are few accounts offering rates of over 6%, plenty of high-yield savings accounts and CD accounts offer rates well over 5% — a solid return on your cash. You can browse some of the highest rates available today by checking out our article on the best high-yield savings accounts as well as the best CD rates.
Here are several top accounts offering APYs of 5.50% or more.
Flagstar Bank: High-yield savings account
APY: 5.55%
Minimum opening deposit: $25,000
Poppy Bank: High-yield savings account
APY: 5.50%
Minimum opening deposit: $1,000
Bask Bank: 3 month CD
APY: 5.53%
Minimum deposit: $1,000
Total Direct Bank: 6-month CD
APY: 5.51%
Minimum deposit: $25,000
Paramount Bank: 11-month CD
APY: 5.55%
Minimum deposit: $1,000
You can also use our tools below — powered by Bankrate — to browse rates on both high-yield savings accounts and CD accounts.
What will happen to savings rates in 2024?
When the Federal Reserve began its rate hiking campaign back in March 2022 in order to combat high inflation, savings rates began to rise along with interest rates. Overall, the central bank raised the fed funds rate, a key overnight bank lending rate, 11 times between March 2022 and July 2023, but as inflation began to cool, rates were held steady. And when the pause on rate hikes began, savings rates began to slightly inch down. Rates on savings accounts will soon drop even further as the Fed expects one quarter-point cut later this year.
Related Content
-
We're 64 with $4.3 million and can't agree on when to retire.I want to retire now and pay for health insurance until we get Medicare. My wife says we should work 10 more months. Who's right?
-
Missed an RMD? How to Avoid That (and the Penalty) Next TimeIf you miss your RMDs, you could face a hefty fine. Here are four ways to stay on top of your payments — and on the right side of the IRS.
-
What Really Happens in the First 30 Days After Someone DiesThe administrative requirements following a death move quickly. This is how to ensure your loved ones won't be plunged into chaos during a time of distress.
-
5 Laundry Habits That Are Costing You MoneyYou might be flushing money down the drain if you have any of these laundry habits.
-
My First $1 Million: Banking Executive, 37, NashvilleEver wonder how someone who's made a million dollars or more did it? Kiplinger's My First $1 Million series uncovers the answers.
-
10 Decluttering Books That Can Help You Downsize Without RegretFrom managing a lifetime of belongings to navigating family dynamics, these expert-backed books offer practical guidance for anyone preparing to downsize.
-
New Ways to Keep Your Online Accounts SafeAs cybercrime evolves, the strategies you use to protect yourself need to evolve, too.
-
Can Your Car Insurance Add Strangers to Your Policy? A Florida Class Action Lawsuit Could DecideA Florida driver says GEICO added complete strangers to her car insurance policy and jacked up premiums as a result.
-
Life Loves to Throw Curveballs, So Ditch the Rigid Money Rules and Do This InsteadSome rules are too rigid for real life. A values-based philosophy is a more flexible approach that helps you retain confidence — whatever life throws at you.
-
The Best Short-Term CD for Your Cash in 2026This strategy can help you earn thousands in months.
-
What Is an Assumable Mortgage and Could It Save You Thousands?With mortgage rates still elevated, taking over a seller’s existing home loan could lower monthly payments — if the numbers work.
