The Best Savings Account Rates Today, April 12, 2025: Up to 5.00%
KEY POINTS
- Top high-yield savings account rate today: 5.00% APY.
- High-yield savings accounts grow your money faster than traditional savings with minimal risk.
- You can open most HYSAs online in minutes and begin saving.
A high-yield savings account is a smart way to grow your money while keeping it handy. Want to earn more than 10 times the national average on your cash? The accounts we feature here could earn you between 4.50% and 5.00% APY.
We've checked the leading banks to find the best ones for you. These accounts could help your money grow fast, with no need to lift a finger beyond opening and funding the account.
Explore our list of the top savings account APYs available now.
| 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 |
| BrioDirect High-Yield Savings | 4.50% | $5,000 to open, $25 to maintain |
Why we chose these savings accounts
- Attractive returns. Enjoy some of the top APYs available to boost your savings quickly.
- Easy start. Some accounts require little or no minimum deposit to open and begin earning interest.
- Digital convenience. Open and manage these accounts fully online from your phone or computer.
- Nationwide access. Open an account from anywhere in the U.S. without needing to join a local credit union.
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 LendingClub LevelUp Savings account because it pays 4.40% APY with $250+ in monthly deposits. Pro tip: Be careful with teaser rates that drop after a few months. Always check the fine print. Click here to open a LendingClub LevelUp Savings account today.
Our Picks for the Best High-Yield Savings Accounts of 2025
| Product | APY | Min. to Earn | |
SoFi Checking and Savings
Member FDIC.
APY
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
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
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.
|
$0
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
American Express® High Yield Savings Account
Member FDIC.
APY
3.60%
Rate info
3.60% annual percentage yield as of June 10, 2025. Terms apply.
Min. to earn
$0
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
3.60%
Rate info
3.60% annual percentage yield as of June 10, 2025. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
APY
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
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
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.
|
$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. |
Want to grow your money without locking it up?
High-yield savings accounts combine flexibility with competitive interest. If you value easy access to your funds and no long-term commitment, an HYSA may be the perfect fit.
Explore more options:
- Best High-Yield Savings Accounts -- See our top picks today
- Banks With Savings Buckets -- Track your savings goals separately
- Safest Banks in the U.S. -- Sleep peacefully at night knowing your money is safe
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.
Should you open a high-yield savings account?
Got extra cash in a regular savings account earning peanuts? It's a good time to think about switching. With rates still high, high-yield savings accounts offer a way to grow your money without losing access.
Opening a high-yield savings account could make sense if:
- You want to earn more interest without locking up your money
- You prefer flexibility over committing to a fixed term
- You want an account with no or low fees and easy online access
- You value safety -- most accounts are FDIC insured
High-yield savings accounts give you a better return while keeping your cash handy. They're great for emergencies, home repairs or upgrades, or vacations you're planning. 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:
- Compare your options. Look for the best APY, but also consider fees, ease of access, and minimum balance rules.
- Apply online. Most accounts can be opened from your phone or computer -- no paperwork required.
- Fund your account. Link an existing checking or savings account and transfer the amount you want to deposit.
- Set up recurring deposits (optional). Some accounts offer higher APYs when you make regular monthly contributions.
- Track your balance and earnings. Interest usually compounds daily and is paid monthly, helping your savings grow faster over time.
- Keep an eye on your APY. Bank's can raise or lower APYs at their discretion. If you see yours decrease substantially, it may be time to look around for a new account.
Prefer to skip the monthly deposit requirements?
Some high-yield accounts offer the best rates with no strings attached -- no recurring deposit requirements, no minimum balance to earn interest, and no monthly fees. If you're looking for a hassle-free option, consider the American Express® High Yield Savings Account account (Member FDIC), which offers a 3.60% APY (as of June 10, 2025) with no minimum deposit.
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Sources
FAQs
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Opening a savings account gives you flexibility and easy access to your money. Current high rates offer the chance for steady growth. If you want both access and growth, now's a great time to open one and start saving.
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While experts currently expect the opposite to happen, it's still possible savings account rates might increase in 2025. Rate hikes depend on the Federal Reserve's actions and economic shifts. If inflation rises, banks may boost rates to attract deposits.
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Right now, the best savings account rates are those between 4.00% and 5.00%. You can earns hundreds more per year on your savings compared to keeping your money in an account with the national average savings APY of 0.42%.
Our Research Expert
Jake is a full-time Editorial Strategist for Motley Fool Money. He specializes in product ratings and all things credit cards, and wants to make sure each person has the best card for them.
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.