3 Big Banks That Offer Surprisingly High Savings Yields

The average savings account in the United States has an annual percentage yield (APY) of just 0.42%, according to the latest FDIC data. Fortunately for savers, some of our top online savings accounts have yields that are 10 times this amount, or even more.

However, not everyone is comfortable with putting their money in an online-based account with a bank they aren't familiar with. Or maybe you'd just prefer to keep your money at a bank you already have a relationship with. If this is the case, it's important to realize you don't necessarily need to use a relatively new, tech-focused, online-only bank to get a decent yield on your savings.

Here are three large banks that have been in business for many years and offer top-notch savings and CD yields to customers.

1. Capital One

Most U.S. consumers know Capital One primarily for its credit card business, but it offers a full range of banking products and has an extensive branch network. As of this writing, the Capital One 360 Performance Savings account has a 3.80% APY, which isn't exactly the highest on our best high-yield savings account list, but it's the best we know of for a bank that offers full branch access.

Our Picks for the Best High-Yield Savings Accounts of 2024

Product	APY	Min. to Earn
American Express® High Yield Savings Member FDIC. APY 3.80% Rate info 3.80% annual percentage yield as of January 12, 2025. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings On American Express's Secure Website. Member FDIC.	3.80% Rate info 3.80% annual percentage yield as of January 12, 2025. Terms apply.	$0	Open Account for American Express® High Yield Savings On American Express's Secure Website.
Capital One 360 Performance Savings Member FDIC. APY 3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening. Min. to earn $0 Open Account for Capital One 360 Performance Savings On Capital One's Secure Website. Member FDIC.	3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.	$0	Open Account for Capital One 360 Performance Savings On Capital One's Secure Website.
Western Alliance Bank High-Yield Savings Premier Member FDIC. APY 4.40% Rate info The annual percentage yield (APY) is accurate as of Jan. 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 Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website. Member FDIC.	4.40% Rate info The annual percentage yield (APY) is accurate as of Jan. 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.	$500 to open, $0.01 for max APY	Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website.

Capital One also offers the Capital One 360 CD, which have excellent yields and terms ranging from 6 months to 5 years. With 750 branches, including 30 innovative "café" locations, Capital One could be the best combination of high yield, convenience, and a large, stable bank that exists.

2. Barclays

Barclays is one of the oldest banks in the world, tracing its roots back to 1690 in London. It is extremely stable, and although it doesn't have physical branches in the United States, it's far from being just an "online bank."

Barclays Online CD accounts could be especially appealing, as they have the highest APYs of any of the three institutions discussed here. Its 1-year, 18-month, and 2-year CDs have especially competitive APYs. There's also the Barclays Online Savings that offers a 4.00% APY as of this writing.

3. CIT Bank

You may not be familiar with CIT Bank, but you may have heard of its parent company, First Citizens, which has over 500 branches in 23 states. CIT was actually named the No. 1 bank in the nation for "humanizing the customer service experience" by American Banker out of more than 50 institutions.

As of October 2023, CIT offers some of the highest-yielding savings accounts in the industry. The CIT Savings Connect account offers a 4.00% APY as of this writing, while the CIT Platinum Savings has a 4.35% APY for balances of $5,000 or more.

The bottom line

If your comfort zone is large and stable financial institutions that have been around for many decades (or even centuries), that doesn't mean you have to settle for a mediocre yield on your savings accounts or CDs. If you're worried about entering the online banking world, one of these three rock-solid and long-established financial institutions could be just what you're looking for.

Be sure to read our reviews of each to find out the pros and cons, so you can figure out which is the best fit.