Earn up to 5% APY in a High-Yield Savings Account Today, April 21, 2025
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KEY POINTS
- The best high-yield savings account APY today: 5.00%.
- Maximize interest earnings without losing access to your cash by using a high-yield savings account.
- Open your new HYSA online and start saving now.
Let your money work for you. High-yield savings accounts offer rates up to 5.00% APY -- more than 10 times the national average. They offer a simple way to boost your savings while keeping access to your cash.
We check high-yield savings offers daily to find the best for you. Whether saving for a rainy day or future plans, these accounts allow you to earn more on the money that's just sitting there.
Check out the top high-yield savings account rates we found today.
| 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 |
| Presidential Bank Advantage Savings | up to 4.50% | $5,000 to open. Must maintain an Advantage Checking Account to be eligible for top APY. |
Why we picked these high-yield savings accounts
- Attractive returns. Enjoy some of the top APYs available to boost your savings quickly.
- Easy start. Some accounts require little or no 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 Barclays Tiered Savings account because it pays 4.00% with no account minimums. Pro tip: Be careful with teaser rates that drop after a few months. Always check the fine print. Click here to open a Barclays Tiered 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 May 22, 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 May 22, 2025. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
CIT Platinum Savings
Member FDIC.
APY
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn
$100 to open account, $5,000+ for max APY
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
|
$100 to open account, $5,000+ for max APY
|
Open Account for CIT Platinum Savings
On CIT'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
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 an HYSA now?
Got extra money sitting in a checking or standard savings account earning pennies? It's time to make your money work harder for you. High-yield savings accounts are offering great rates now, as the Federal Reserve has yet to lower rates so far this year.
With flexibility, low fees, easy online access, and FDIC insurance, there's really no reason not to choose a high-yield savings account for your cash. Let your money grow while staying accessible. HYSAs are perfect for your emergency fund, home or auto repairs, or funding your next vacation. Click here to compare the best high-yield savings accounts and open one today.
How to open an HYSA in five steps
Getting started with a high-yield savings account is easy and usually takes just a few minutes. Follow these simple steps:
- Compare accounts. 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 your money.
- 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.
Fed up with monthly deposit requirements?
Some high-yield accounts offer top 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 Discover® Online Savings account, which offers a 3.60% APY with no minimum deposit.
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Sources
FAQs
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Yes. Now is a great time to open a high-yield savings account and take advantage of competitive rates up to 5.00% APY. HYSAs not only help your money grow faster compared to low-yield, but also offer flexibility and access to your cash when you need it. Plus, managing your account is simple from mobile and online apps.
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It's possible savings account rates could 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. However, at this time, experts expect that rates will decrease before the end of the year.
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The very best high-yield savings account rates are currently those between 4.50% and 5.00%. However, rates starting around 3.60% and up are still considered competitive. You can earns hundreds more per year on your savings by switching to a high-yield account vs. keeping your money in an account with the national average savings APY of 0.41%.
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.