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Best High-Yield Savings Accounts of September 2025 (Up to 4.50%)

Review Updated
Joel O'Leary
Author: Joel O'Leary
Joel O'Leary
Joel O'Leary
Full-Time Personal Finance Writer

Joel is a full-time Personal Finance Writer at Motley Fool Money, where he brings a clear, approachable voice to topics ranging from credit cards to side hustles. He’s been writing about money since 2018, covering topics like credit cards, savings hacks, and the FIRE movement. Before joining the team, he managed editorial content for the How To Money podcast. When he’s not behind the laptop, Joel is likely at the beach surfing, or out and about with his family.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

Most Americans are still earning pennies in a typical savings account. But the best high-yield savings accounts (HYSAs) today are paying 20x to 30x more -- with zero risk and no fees.

I've personally earned thousands in interest over the past few years just by moving my money into an HYSA. And right now, rates are still near their peak, but that may not last much longer. With potential Fed rate cuts on the horizon, now's a great time to lock in a top-tier yield.

Our expert team has spent over 100 hours researching, reviewing, and testing the best options available. Here are the top picks for high-yield savings accounts to help you make the most of your money.

If you're short on time, here's a quick list of our best high-yield savings accounts:

All of the accounts above have APYs that are nearly 10x the national average savings account interest rate (nope, that's not a typo!), and all are FDIC insured up to $250,000.

  • Our team of experts assessed 100+ banking institutions
  • We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
  • Our bank ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale (1 = poor, 5 = best). We evaluate all savings accounts across four main criteria: annual percentage yield (APY), brand and reputation, fees and minimum requirements, and perks that really make a difference -- think ATM access, linked checking accounts, or even branch access.

Our scores are weighted as:

  • APY: 50%
  • Brand and reputation: 20%
  • Fees and minimums: 15%
  • Other perks: 15%

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

Expert insights on savings rates
Image of reviewer

The Federal Reserve reduced the target for the fed funds rate in September, November, and December of 2024. While they've held rates steady so far in 2025, many expect cuts to resume later in the next few months, which could lead to lower yields on high-yield savings accounts.

Even so, these accounts remain a smart place to keep money you want protected from the ups and downs of the stock and bond markets. Cash doesn't lose value, and most high-yield savings accounts are FDIC insured up to $250,000 per account type.

They're called "high-yield" savings accounts for a reason. Regardless of what the Fed does next, these accounts typically offer higher returns than most standard checking or savings options.

-Robert Brokamp, Certified Financial Planner® and Senior Advisor at The Motley Fool

Reviews of our favorite high-yield savings accounts

Best for direct deposit

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025
Limited-Time Offer

SoFi Checking and Savings

Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.
4.90/5 Circle with letter I in it. 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.
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= Excellent
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4.90/5 Circle with letter I in it. 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
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Limited-time offer:
Earn up to $300 and +0.70% Boost on Savings APY. Terms apply. Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
APY
up to 4.50% Rate info Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. To Earn APY
$0
  • Competitive APY on both Savings and Checking
  • No monthly account fee
  • Welcome bonus up to $300 (direct deposit required)
  • ATM access
  • Unlimited number of external transfers (up to daily transaction limits)
  • FDIC insured (up to $3M with opt-in to SoFi Insured Deposit Program)
  • Early access to direct deposits
  • Tools to help you track savings goals
  • Combo account only; no stand-alone savings or checking
  • Maximum Savings APY requires direct deposit
  • No branch access; online only
  • Overdraft protection requires monthly direct deposit minimum

For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings (Member FDIC) is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns an above-average rate, too -- which is a rare perk. Plus, new customers earn a bonus of up to $300 with eligible direct deposit. Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships.

You can earn the maximum APY either by making direct deposits into checking or savings, or by depositing $5,000 or more every 30 days. Learn more.

Read Full Review

Why I like it: SoFi® has a way of winning people over. You might come for the high annual percentage yield (APY), but many end up switching their everyday banking here too. With no account fees, helpful savings tools, and a super clean app, it just makes managing money easy.

And right now, there's a limited-time offer available: Earn up to $300 and +0.70% Boost on Savings APY. Terms apply.

What you should know: To unlock the best perks and highest APY, you'll need to set up direct deposit. SoFi® automatically opens both a checking and savings account, so you can move money between spending and saving without skipping a beat.

First-hand review from one of our employees who uses SoFi Checking and Savings (Member FDIC) personally:
Image of reviewer

"I was interested in an online bank since I'd seen that a lot of them offered higher APYs than traditional banks. We chose to go with SoFi® because it offered some of the highest rates and had good reviews. Overall, it has been a good fit for us. Transfers are seamless, and the app is easy to navigate and keep track of activity with."

-Liz Wilson, Software Developer

Best for AMEX cardholders

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025

American Express® High Yield Savings Account

Open Account for American Express® High Yield Savings Account

On American Express's Secure Website.

Member FDIC.
4.80/5 Circle with letter I in it. 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.
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= Excellent
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4.80/5 Circle with letter I in it. 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.
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Open Account for American Express® High Yield Savings Account

On American Express's Secure Website.

APY
3.50% Rate info Circle with letter I in it. 3.50% annual percentage yield as of September 8, 2025. Terms apply.
Min. To Earn APY
$0
  • Competitive APY
  • No monthly account fee
  • Comfort of a well-known brand and reputation
  • Unlimited number of external transfers (up to daily transaction limits)
  • 24/7 customer support
  • FDIC insured
  • No ATM access
  • No branch access; online only
  • No cash deposits

American Express High Yield Savings may not have the highest APY on our list, but it still offers a rate well above average and requires no minimum deposit to qualify for the highest APY. It's a good fit for those who want to save at a competitive rate while avoiding withdrawal limits or minimum balance requirements.

Read Full Review

Why I like it: The American Express® High Yield Savings Account is a high-trust option from a name you already know. There are no monthly fees, no minimums, and the account is refreshingly easy to use. It's also included in our list of the 10 safest banks in the U.S., so you can rest easy parking a large balance there.

What you should know: If you're already an American Express National Bank (Member FDIC) customer, adding this HYSA to your lineup is quick and seamless. Just keep in mind Amex is an online-only bank -- there's no ATM access or debit card, so your funds must be accessed via its website or mobile app.

First-hand review from one of our employees who uses American Express® High Yield Savings Account (Member FDIC) personally:
Image of reviewer

"I was drawn to an American Express® High Yield Savings Account because of its high APY, absence of fees and withdrawal limits, and my trust in the brand. The account integrates seamlessly with my other bank accounts. The user interface is easy to use. As an existing Amex card holder, opening a savings account with them was painless."

-Jack Caporal, Research Director

Best for maximum interest with no frills

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025

NexBank High-Yield Savings Account from Raisin

Open Account for NexBank High-Yield Savings Account from Raisin

On Raisin's Secure Website.

Member FDIC.
4.60/5 Circle with letter I in it. 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.
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= Excellent
= Good
= Fair
= Poor
4.60/5 Circle with letter I in it. 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.
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Open Account for NexBank High-Yield Savings Account from Raisin

On Raisin's Secure Website.

APY
4.31%
Min. To Earn APY
$1
  • High APY
  • No monthly service fee
  • Unlimited ACH transfers
  • FDIC insured
  • Deposits and withdrawals can only be conducted via ACH transfer to/from an external bank account (limited to one linked external account)
  • No checking account offered through Raisin
  • No branch access; online only

With a 4.31% APY -- one of the highest rates on any account we recommend -- the NexBank High-Yield Savings Account from Raisin stands out for savers who want serious returns with minimal effort. You only need $1 to open, and FDIC insurance through NexBank keeps your money protected. Raisin's secure online platform gives you 24/7 access to funds, and there's even a cash bonus opportunity if you deposit at least $10,000 within 14 days -- with higher deposits earning bigger rewards, up to $1,000. It's a no-fuss, set-it-and-forget-it option for growing your savings at a top rate.

Read Full Review

Why I like it: Currently the highest standard APY on our list, the NexBank HYSA from Raisin has no monthly fees and just a $1 minimum deposit requirement. With a 100+ year track record and $14 billion in assets, NexBank is a trustworthy bank to help grow your savings.

What you should know: Deposits and withdrawals from this account can only be conducted via ACH transfer to/from an external bank account (limited to one linked external account). Savers should plan ahead a few days in advance before accessing their money.

Best for mobile app

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025

Discover® Online Savings

Open Account for Discover® Online Savings

On Discover Bank's Secure Website.

Member FDIC.
4.80/5 Circle with letter I in it. 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.
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= Excellent
= Good
= Fair
= Poor
4.80/5 Circle with letter I in it. 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.
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= Excellent
= Good
= Fair
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Open Account for Discover® Online Savings

On Discover Bank's Secure Website.

Limited-time offer
Earn up to $200 when you use offer code TMF325 on your first Discover Online Savings application. Circle with letter I in it. Apply for your first Discover Online Savings Account with offer code TMF325. Deposit $15,000 to earn $150 or $25,000 to earn $200. Deposits must post within 45 days. Offer ends Sept. 11, 2025. See Discover's website for full details.
APY
3.50%
Min. To Earn APY
$0
  • Competitive APY
  • No monthly account fee
  • Comfort of a well-known brand and reputation
  • 24/7 customer support
  • FDIC insured
  • Online only; single branch location in the U.S.

The Discover® Online Savings account promises customers an above-average interest rate and few limitations. Most people won't ever encounter fees with this account, and you won't have to worry about keeping track of your monthly withdrawals either.

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code TMF325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200. 

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank.

Read Full Review

Why I like it: Discover® Bank brings the same trusted reputation it's known for in credit cards to its online savings account. You'll get a strong APY, no monthly fees, and a super user-friendly experience.

What you should know: Discover also offers checking accounts, access to 60,000+ fee-free ATMs, and debit cards with cash back rewards. This is very rare, and a perfect fit for those looking to manage all your money in one place.

First-hand review from one of our employees who uses Discover® Online Savings personally:
Image of reviewer

"I chose Discover® Online Savings first and foremost because of its high APY. However, I am also a Discover credit card holder, so having everything in one easy-to-use mobile app makes it extremely easy to manage my finances. That being said, I've recently noticed other online savings accounts with slightly higher APYs."

-Ethan Mellin, Head of Business Development

Best for branch access

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025
Award Icon 2025 Award Winner

Capital One 360 Performance Savings

Open Account for Capital One 360 Performance Savings

On Capital One's Secure Website.

Member FDIC.
4.80/5 Circle with letter I in it. 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
4.80/5 Circle with letter I in it. 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
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Open Account for Capital One 360 Performance Savings

On Capital One's Secure Website.

APY
3.50% Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of June 26, 2025. Rates are subject to change at any time before or after account opening.
Min. To Earn APY
$0
  • Competitive APY
  • No monthly account fee
  • Comfort of a well-known brand and reputation
  • Branch access (if you live near one)
  • 24/7 customer support
  • FDIC insured
  • No ATM access

Capital One 360 Performance Savings checks all the boxes we look for in a high-yield savings account. It even offers branch locations and Capital One Cafes where customers can seek in-person support (if you live near one). This makes it a great fit when you want to reap the rewards of online banking but aren't quite ready to cut ties with brick-and-mortar banks.

Read Full Review

Why I like it: What sets this bank apart is the availability of branch locations and full-service banking support. It just adds a nice layer of convenience rarely found with high-yield savings accounts.

What you should know: While the account offers branch access, this perk is only useful if you live near a Capital One location -- otherwise, in-person banking isn't an option. Make sure to check that before deciding if this is right for you.

First-hand review from one of our employees who uses Capital One 360 Performance Savings personally:
Image of reviewer

"My family and I have enjoyed the convenience of banking with Capital One overall. The accounts are easy to use, the interface is simple, money moves quickly, and while savings rates aren't top of the market, they're much higher than mainline banks."

-Matt Koppenheffer, Coverage Team Lead

Best for set-and-forget banking

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025

Barclays Tiered Savings

Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Member FDIC.
4.80/5 Circle with letter I in it. 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
4.80/5 Circle with letter I in it. 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.
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= Excellent
= Good
= Fair
= Poor
Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

APY
3.90% Rate info Circle with letter I in it. Balances less than $250,000 earn 3.90%, and balances greater than $250,000 earn 4.10%.
Min. To Earn APY
$0
  • Competitive APY
  • No monthly account fee
  • Unlimited number of external transfers (up to daily transaction limits)
  • FDIC insured
  • No minimum deposit to open an account
  • Balance requirement for maximum APY
  • No ATM access
  • No wire transfers (inbound or outbound)
  • No branch access; online only

Though top rates are reserved for high balances, Barclay Tiered Savings account's APYs are competitive no matter how much savings you have. Not only does it offer a strong APY, but it also has no monthly fees, no minimum amount to open an account, and no withdrawal limits.

Read Full Review

Why I like it: If you've got a balance over $250,000, you'll be in the top tier earning the highest APY. But the good news is all other tiers still earn a solid 3.90% APY -- one of the highest on our list.

Plus, there are no monthly fees or balance requirements to worry about. Everybody wins, no matter your balance.

What you should know: There's no debit card or checking account available at Barclays. And since money transfers can take a couple days to process, it's better suited for money you're setting aside for longer-term goals.

Best for integrated banking

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025

E*TRADE Premium Savings

Open Account for E*TRADE Premium Savings

On E*TRADE's Secure Website.

Member FDIC.
4.80/5 Circle with letter I in it. 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
4.80/5 Circle with letter I in it. 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
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Open Account for E*TRADE Premium Savings

On E*TRADE's Secure Website.

APY
4.00%
Min. To Earn APY
$0.01
  • Conveniently transfers money to brokerage account
  • Decent APY
  • No monthly maintenance fees
  • High deposit insurance
  • Better APYs at other banks
  • No ATM access
  • No branch access
  • Withdrawal limitations

With no fees and no account minimums, E*TRADE Premium Savings can be a great add-on to your E*TRADE brokerage account. Its APY is decent, but you can find better interest rates at other banks.

Read Full Review

Why I like it: E*TRADE recently earned our Best Stock Broker for ETFs Award in 2025. It offers a strong APY, no monthly fees, and easy money transfers between your savings, checking, and investment accounts.

What you should know: This savings account pairs well with the E*TRADE Max-Rate Checking account, which also earns a competitive APY and includes global ATM fee refunds. It's a great fit for savers who also want to keep their investing and banking under one roof.

Best for ATM users

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025
Award Icon 2025 Award Winner

LendingClub LevelUp Savings

Open Account for LendingClub LevelUp Savings

On LendingClub's Secure Website.

Member FDIC.
4.60/5 Circle with letter I in it. 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
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4.60/5 Circle with letter I in it. 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.
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= Good
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Open Account for LendingClub LevelUp Savings

On LendingClub's Secure Website.

APY
4.20% APY with $250+ in monthly deposits Rate info Circle with letter I in it. LevelUp Rate of 4.20% APY applied to full balance with $250+ in deposits in Evaluation Period. Otherwise, accounts earn Standard Rate of 3.20% APY. LevelUp Rate applies for first two statement cycles. Rates variable & subject to change at any time. See terms: https://www.lendingclub.com/legal/deposits/levelup-savings-t-and-cs
Min. To Earn APY
$0 to open, $250 cumulative monthly deposits for max APY
  • Competitive APY
  • No fees
  • Easy ATM access
  • Unlimited number of external transfers (up to daily transaction limits)
  • Requires you to make monthly deposits to earn the best APY
  • ACH outbound transfers limited to $10,000 per day for some accounts
  • No branch access; online only

The LendingClub LevelUp Savings account has a lot to offer. At the top of the list is its high APY, though you must deposit monthly to earn the best rate. Next is zero account fees, a strong and straightforward perk. Finally, you get a free ATM card, which you can use to withdraw from thousands of ATMs nationwide. Interested? You can open an account with $0.

https://www.lendingclub.com/legal/deposits/levelup-savings-t-and-cs

Read Full Review

Why I like it: This account has one of the highest APYs on the page, provided you can meet the $250 monthly deposit requirement. It's easy to open, easy to use, and there are no monthly fees.

What you should know: LendingClub gives you a debit card connected to your savings account, which is quite rare. Also, it covers ATM fees! Outbound transfers are unlimited, but daily limits may apply depending on your banking status. This is a non-issue for most people, but something to note nonetheless.

First-hand review from one of our employees who uses LendingClub LevelUp Savings personally:
Image of reviewer

"I've had a LendingClub HYSA for three years. They do a great job of assuring me my money is safe despite being an online-only bank. Good communication about my APY, an easy-to-use app, and an ATM card that gives me the option to withdraw if I ever need to. Plus, I've been really pleased with the above-average APY."

-Brooklyn Sprunger, Content Manager

Best for no minimum deposit

SoFi Checking and Savings
Open Account for SoFi Checking and Savings

On SoFi's Secure Website.

Member FDIC.

Rates as of Sep 08, 2025

EverBank Performance℠ Savings

Read Review
Member FDIC.
4.70/5 Circle with letter I in it. 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
4.70/5 Circle with letter I in it. 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.
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= Fair
= Poor
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APY
4.30%
Min. To Earn APY
$0
  • Competitive APY
  • No monthly account fee
  • No minimum deposit or minimum balance
  • Branch access (in some Florida cities)
  • FDIC insured
  • Same-day ACH transfers
  • Free wire transfers (incoming only)
  • No ATM card
  • Branches only in Florida

EverBank Performance℠ Savings has one of the top APYs on our savings account radar, especially among accounts that require no minimum deposit. There are no maintenance fees, and there are multiple options for making deposits into the account. For customers who live in Florida, there are several physical locations to visit.

EverBank Performance℠ Savings is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the issuer. Some items may be out of date.

Why I like it: EverBank may not be a household name (unless you live in Florida, where it has some branch locations) but it offers one of the highest APYs available right now. This is a no-frills, high-yield account that's built for savers who want to maximize interest above all else.

What you should know: There's no minimum deposit or monthly contribution needed to earn the top APY. Even though EverBank may not be a household name, it's FDIC insured and a trustworthy place to store and grow your money.

How to open a high-yield savings account

Opening an account is fast, easy, and can usually be done entirely online. Most applications take less than 10 minutes.

What you'll need to apply:

  • Government-issued ID (like a driver's license or passport)
  • Social Security number
  • Current address
  • External bank account details (to fund your new account)

If you're opening a joint savings account, both people will need to provide this info.

Pro tip: Many banks offer a welcome bonus or top APY only when you set up direct deposit -- so that's worth doing immediately after sign-up. Just take note of your new account number and bank routing details and provide it when needed for direct deposit.

What to know about savings accounts

With a savings account, your bank pays you interest on your money -- usually every month. How much interest you earn is determined by the account's annual percentage yield (APY). You'll earn more interest with an account that has a high APY, but what is a good APY? Understanding what qualifies as a competitive rate can help you maximize your earnings.

The best online savings accounts offer both convenience and high interest rates. A larger balance or a higher savings account interest rate results in more interest.

It's always good to compare savings account interest rates before opening an account. The best savings account interest rates can add a nice bump in your funds without much effort on your part.

Pros and cons of savings accounts

There are advantages and disadvantages that come along with savings accounts. It's important to consider these factors when you're looking for the best savings account for your lifestyle.

Pros

  • Earning interest
  • Saving as much as you like
  • Paying bills with automatic bill pay
  • Knowing your money is insured with the FDIC

Cons

  • Monthly maintenance fees (sometimes)
  • No ATM card or checks (usually)
  • Fees for extra withdrawals after your first six withdrawals at some banks

Are high-yield savings accounts safe?

Yes, high-yield savings accounts are safe -- as long as the bank is FDIC insured. This federal protection guarantees your deposits up to $250,000 per account type, even if the bank were to fail. Many online banks offer high-yield savings accounts with competitive rates, but you might be wondering: Are online banks safe? The good news is that reputable online banks follow the same security standards as traditional banks, including FDIC insurance and strong encryption protocols.

If you're looking for extra peace of mind, you might also consider banking with one of the safest banks, which have strong financial stability and customer protections in place.

Compare types of savings accounts

As you compare savings accounts, think about what you'll use the account for.

  • Do you want to be able to withdraw your money at any time to cover unexpected expenses?
  • Are you saving up for a major goal over several years, and could use every dollar of interest you can earn?

Answering these questions will help you compare and decide which savings account is best for you.

Here's a look at the common types of savings accounts you'll run into.

  • Traditional savings account: These accounts are usually easy to open and easy to access. But APYs tend to be pretty low, and most of these accounts carry maintenance fees if your balance falls below a certain amount.
  • High-yield savings account: These are similar to traditional savings accounts, but they offer much higher APYs and most don't have monthly maintenance fees.
  • Money market account: Money market accounts offer the APYs of a savings account with the easier access of a checking account. However, these accounts usually have higher minimum balance requirements than typical savings accounts.
  • Certificate of deposit (CD) account: Certificates of deposit (CDs) can sometimes offer higher APYs than even the top high-yield savings accounts. If you're looking for the best APY on a savings account, CDs are definitely worth considering. But you have to agree not to withdraw your funds for the full CD term (which could be months or years).
  • Specialty savings account: A specialty savings account is a savings account that's geared at a certain group of people or goals. Examples include kids' savings accounts, health saving accounts, and education savings accounts.

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FAQs

  • A high-yield savings account (HYSA) is a savings account that offers a much higher annual percentage yield (APY) than average and is usually (but not always) offered by an online-based financial institution.

  • Here are a few things to look for in a HYSA:

    • High APY: The top savings accounts should include a high APY in range with our picks.
    • No monthly maintenance fee: Most of the best savings accounts won't charge a monthly maintenance fee.
    • FDIC insurance: Whether you're putting money aside to build an emergency fund or wanting to earn more interest, security is important.

  • A high-yield savings account is a great place to keep your emergency fund, as well as funds for any short-term savings goals (like a vacation or a down payment to purchase a home). And there is nothing wrong with having multiple savings accounts. In fact, it's generally a good idea to keep your emergency savings separate from the rest of your money.