High-yield savings accounts now offer steady rates between 4.50% and 5.00%. But with potential rate cuts ahead, your chance to earn big might not last.

Whether saving for emergencies or future plans, taking advantage of these rates now can keep you ahead of inflation.

We review savings rates daily from dozens of the top banks to bring you the best. Check out today’s top offers below.

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

Presidential Bank Advantage Savings

up to 4.50%

$5,000 to open. Must maintain an Advantage Checking Account to be eligible for top APY.

Data source: Issuing banks. Rates are accurate as of April 25, 2025.

Why we chose these high-yield savings accounts

  • Attractive returns. Enjoy some of the top APYs available to boost your savings quickly.
  • Easy start. Some accounts require little or no deposit to open and begin earning interest.
  • Digital convenience. Open and manage these accounts fully online from your phone or computer.
  • Nationwide access. No need to join a credit union or meet membership requirements.

If you’re not earning more than 4.00% APY on your savings, it might be time to switch. Rates have been mostly flat since the end of 2024, but several online banks are leading the pack without requiring huge balances. We like Barclays Tiered Savings account because it pays 4.10% with no account minimums. Pro tip: Be careful with teaser rates that drop after a few months. Always check the fine print. Click here to open a Barclays Tiered Savings account today.

Should you open a high-yield savings account now?

Got extra cash sitting stagnant in a standard savings account? Now’s a great time to make a change. With overall rates still high, high-yield savings accounts let your money grow steadily.

Consider a high-yield savings account if:

  • You want to earn more interest without locking away your money
  • You appreciate safety — most accounts come with FDIC insurance
  • You want easy online access with no or low fees
  • You prefer flexibility over fixed terms

High-yield savings accounts offer returns comparable to CDs, except you won’t lose access to your money while it grows. They’re a perfect place to stash your cash for emergencies, home projects, or upcoming trips. 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. Follow these simple steps:

  1. Compare accounts. Look for the best APY, but also consider fees, ease of access, and minimum balance rules.
  2. Apply online. Most accounts can be opened from your phone or computer — no paperwork required.
  3. Fund your account. Link an existing checking or savings account and transfer your money.
  4. Set up recurring deposits (optional). Some accounts offer higher APYs when you make regular monthly contributions.
  5. Track your balance and earnings. Interest usually compounds daily and is paid monthly, helping your savings grow faster over time.

Sick of monthly deposit requirements?

Some high-yield savings accounts give you great rates without any catches. You don’t need to make regular deposits, keep a minimum balance, or worry about monthly fees. If you want something easy, check out the Discover® Online Savings account. It offers a 3.60% APY, and you don’t need a minimum deposit to open the account.

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