Banking
Get the full rundown on bank accounts, including the best picks for your money and essential education on checking, savings, and CD accounts.
Dive deeper into our banks library
Start comparing banks
The Motley Fool's top banking resources
FAQs
-
A bank is an institution where anyone (approved by the bank) can deposit savings and take out loans. Banks are often seen as a convenient and secure way to store money, and some account types also earn interest. Most banks have both online and in-person services.
-
An online bank is a financial institution that takes deposits and makes loans online, without any physical branches.
-
A credit union is a nonprofit financial institution that exists to serve its members. Unlike banks, credit unions are owned and operated by their members, with a focus on providing affordable financial products and services.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.30%
Rate info
The annual percentage yield (APY) is accurate as of May 2, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn: $500 to open, $0.01 for max APY
|
N/A
|
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
Open Account for Barclays Tiered Savings
On Barclays' Secure Website.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.00%
Rate info
Balances less than $250,000 earn 4.00%, and balances greater than $250,000 earn 4.20%.
Min. to earn: $0
|
N/A
|
Open Account for Barclays Tiered Savings
On Barclays' Secure Website. |
Keep learning about banking
Recent Articles
View All Articles
May 31, 2025 | By
Joel O'Leary
Save $2,000: Boost Your Financial Well-Being by 21%, Says Vanguard
Even a small emergency fund can make a big difference. Here's why $2,000 is the magic number, and how to hit it quicker than you think.
May 31, 2025 | By
Jake FitzGerald
Best High-Yield Savings Account Rates Today, May 31, 2025: Up to 5.00%
Today's top high-yield savings accounts feature rates up to 5.00% APY. Explore the best savings rates and take advantage while they last.
May 30, 2025 | By
Ryan Wilcox
Too Much in Savings? 3 Warning Signs You're Missing Out on Growth
You may be holding on to too much cash. Learn three of the biggest red flags -- and what to do with your money instead.
May 30, 2025 | By
Jake FitzGerald
Best High-Yield Savings Account Rates Today, May 30, 2025: Up to 5.00%
Today's highest savings rates feature accounts up to 5.00% APY. Explore the best savings APYs and take advantage of high rates while they last.
May 29, 2025 | By
James McClenathen
3 Habits That Help the Rich Stay Rich
Being wealthy (and staying wealthy) takes more than a high income. Here are three habits of the rich that you can adopt, too.
May 29, 2025 | By
Jake FitzGerald
Best High-Yield Savings Account Rates Today, May 29, 2025: Up to 5.00%
Check out the best high-yield savings account rates today, with APYs up to 5.00%. Now is a great time to switch accounts to take advantage of competitive rates.
May 29, 2025 | By
James McClenathen
Best CD Rates Today, May 29, 2025: Up to 4.55% APY
Explore today's leading CD rates with APYs peaking at 4.55%. Lock in a competitive return and maximize earnings on your savings while they last.
May 28, 2025 | By
Jake FitzGerald
Best High-Yield Savings Account Rates Today, May 28, 2025: Up to 5.00%
We've compiled a list of the best high-yield savings account rates today, with APYs up to 5.00%. Make a switch to maximize your earnings.
May 28, 2025 | By
James McClenathen
Best CD Rates Today, May 28, 2025: Up to 4.55% APY
We've curated today's top CD rates with APYs of up to 4.55%. Lock in one of the best CDs today to maximize earnings on your savings while high rates last.
May 27, 2025 | By
Jake FitzGerald
Best High-Yield Savings Account Rates Today, May 27, 2025: Up to 5.00%
High-yield savings accounts are offering APYs of up to 5.00% today. These rates won't be around forever -- take advantage now while they last.
Share This Page
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.
Bank of America is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Discover Financial Services is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Axos Financial, Bank of America, Goldman Sachs Group, JPMorgan Chase, Target, and U.S. Bancorp. The Motley Fool recommends Barclays Plc and Discover Financial Services. The Motley Fool has a disclosure policy.