The Top 3 High-Yield Savings Accounts of August 2025: Up to 4.50% APY
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Traditional banks like Bank of America and Chase still pay close to zero on basic savings accounts -- about 0.01% APY. That means $10,000 in a big bank account earns just $1 in interest over an entire year.
High-yield savings accounts (HYSAs) are a different story. Right now, several are paying over 4.00% APY, and that same $10,000 deposit would earn $400 in interest per year.
I've been tracking rates for years, and the following three banks stand out in August 2025 for a mix of high yields, low fees, and extra perks.
1. CIT Platinum Savings
Right now CIT Platinum Savings offers 4.00% APY for balances of $5,000 or more. If your balance is below that, you'll earn just a fraction of that APY, so the $5,000 threshold really matters.
Why it's a great choice:
- No monthly fees and just a $100 opening deposit
- Daily compounding with monthly payouts
- Backed by First Citizens Bank, the 15th-largest bank in the U.S.
CIT has been on my list of favorites for years. It constantly offers top rates for savings products. So even if there are slight rate changes in the coming months it'll still likely remain very competitive in comparison to other options.
If you've got a large balance and can stay over that $5,000 balance criteria, CIT is a no-frills place to earn solid interest.
Read our full CIT Platinum Savings review to see how it works.
2. SoFi Checking and Savings (Member FDIC)
SoFi®'s high-yield checking and savings account combo currently pays up to 3.80% APY on savings (and 0.50% APY on checking). But right now there's a limited time offer: Earn up to $300 bonus with direct deposit. Plus, new customers earn an extra 0.70% APY on savings for up to 6 months with direct deposit (terms apply) -- that equals up to 4.50% APY!
Why SoFi® is unique:
- All-in-one setup: linked checking and savings with instant transfers
- Smooth mobile app and user-friendly onboarding
- Member perks beyond banking, like financial planning tools and career coaching
The limited-time promo makes SoFi® especially appealing in August 2025. If you're looking to maximize yield in the short term, this is a great option to check out.
Read our full SoFi Checking and Savings (Member FDIC) review to see everything we love about it.
3. LendingClub LevelUp Savings
With LendingClub LevelUp Savings, you can earn 4.20% APY with $250+ in monthly deposits.
Why LendingClub is different:
- No minimum balance or fees to worry about
- Free ATM card with unlimited ATM fee rebates -- which is rare for an HYSA
- Pair with LendingClub CDs if you also want to lock in longer-term rates
If you can meet the monthly deposit requirements, this account has one of the best ongoing yields right now. With the added flexibility of a debit card, it's a hard-to-beat combo.
See our in-depth LendingClub LevelUp Savings review for details.
Making the switch to better returns
A few years ago, I moved about $25,000 from my Chase checking account into a high-yield savings account. Since then, I've earned over $2,000 in interest -- money I never would've seen if I'd left it sitting with Chase.
I still keep my old checking account for paychecks, bill pay, and daily banking stuff. But my "cold storage" savings lives in an HYSA earning over 4.00% APY. That simple switch has been one of my easiest money wins.
If you're ready to boost your savings, it doesn't mean leaving your bank behind. It just means letting your money work harder.
See our full list of the best high-yield savings accounts and start earning more today.
Our Research Expert
Joel is a full-time Personal Finance Writer at Motley Fool Money, known for his clear, approachable voice on topics like credit cards, savings hacks, and side hustles. He’s been writing about money since 2018 and previously managed editorial content for the How To Money podcast.