Earn 5.50% APY on Your Savings in 2024 With This High-Yield Account

This high-yield account offers 5.50% on your savings in 2024, with no additional fees.

Image of person's hands holding a fanned out stack of cash.
(Image credit: Getty)

Looking to maximize your savings in 2024? Opting for the right savings account can help boost your savings with no extra effort required. So, if one of your New Year’s resolutions is to save more this year, you could benefit from putting your cash into a high-yield savings account with a competitive APY. 

One account in particular that can help grow your savings risk-free is Milli Bank’s mobile savings account, available on both iPhone (iOS 15.0 or later) and Android devices (Android OS 8.0 or later). Milli's high-yield savings account offers a 5.50% APY and has no additional fees or minimum balance requirements. This is one of the highest APYs on the market. 

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High APY (5.50%)No phone support available (only mobile chat and email)
Network of 55,000+ ATMsNo physical locations, mobile access only
No fees Money transfers may take a while to clear
No minimum balance requirementDoes not accept mobile check or cash deposits
Offers additional savings/budgeting tools Row 4 - Cell 1
Recent updates

Jan 10, 2024 updated to reflect some pros and cons of the Milli Bank service

Erin Bendig
Personal Finance Writer

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.