Looking for the Best High-Yield Savings Rates on August 11, 2025? Earn up to 5.00% APY Today
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If you're saving money right now, the news is still good. Many high-yield savings accounts (HYSAs) are paying 4.00% APY or more, thanks to the Fed keeping rates steady all year.
An HYSA works just like a regular savings account -- your money is safe, you can get to it anytime, and it's FDIC-insured. The difference is in the interest. You earn a lot more.
Rates could start to fall later this year, so it's worth locking in a great one while you can. If you haven't made the switch yet, there's still time.
Here are the best high-yield savings account rates you can get today.
- Varo Savings -- up to 5.00% APY (Max APY on up to $5,000, 2.50% APY after)
- Pibank Savings -- 4.60% APY (No min. balance)
- Elevault -- 4.60% APY (No min. balance. Balances over $250,000 do not earn interest)
- Presidential Bank Advantage Savings -- 4.50% APY ($5,000 min. to open, terms apply)
- Axos ONE® -- up to 4.46% APY (Min. balance: $1,500)
Data source: Issuing banks. Rates are accurate as of August 10, 2025.
A top pick: The Barclays Tiered Savings account stands out with a 3.90% APY and no minimum balance required to earn interest. It's one of the few top-tier rates still widely available -- and with no account fees, it's a smart move while rates remain high. Read our full Barclays Tiered Savings review to learn more and open an 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
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 and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
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
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 and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
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
3.50%
Rate info
3.50% annual percentage yield as of August 11, 2025. Terms apply.
Min. to earn
$0
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
3.50%
Rate info
3.50% annual percentage yield as of August 11, 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
4.00% APY for balances of $5,000 or more
Rate info
4.00% 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. |
4.00% APY for balances of $5,000 or more
Rate info
4.00% 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. |
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 now?
At the moment, HYSAs are paying between 4.00% and 5.00% APY -- plenty to keep your savings growing faster than inflation, while most people's money sits in low-rate accounts losing value.
They're safe, too. Your deposits (up to $250,000) are FDIC-insured, and you can move or withdraw your money whenever you want. Link it to your checking account, and you've got quick, easy access to your cash.
It's always smart to keep your savings in an HYSA, but right now might be the best time. The Fed kept rates steady at its last meeting, yet many expect cuts later this year -- and some banks are already lowering APYs. Wait too long, and you could miss today's top rates.
How to open a high-yield savings account in 3 easy steps
You can set up an HYSA in no time. Here's what to do:
- Pick the right high-yield savings account. Search for one with a strong APY, no monthly fees, and requirements you can easily meet. If possible, choose a bank that also offers a checking account so you can link the two for quick transfers.
- Apply online. Most banks let you open an account online. You'll just need a few basics, like your address and Social Security number.
- Move your money. Log in to your new account and transfer funds from your old savings or checking account. Transfers between banks usually take a few business days.
And that's it -- you're ready to start earning more interest. Just remember to update any automatic deposits or bill payments to your new account.
How much can your money earn in a high-yield savings account?
With a 4.00% APY, your savings can grow faster than you might think -- whether you start with a little or a lot. The table below shows how much you can earn over various lengths of time with different starting balances:
| Starting Balance | 1 Year | 5 Years | 10 Years | 20 Years |
|---|---|---|---|---|
| $5,000 | $204 | $1,104 | $2,457 | $5,622 |
| $10,000 | $408 | $2,208 | $4,914 | $11,244 |
| $20,000 | $816 | $4,416 | $9,828 | $22,488 |
Given enough time, even a modest balance can bring in thousands in interest -- and that's without adding another dollar.
The sooner you open an HYSA, the sooner your money starts working harder, often earning 10 times the interest of a typical savings account. So don't wait -- open a high-yield savings account today.
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Sources
FAQs
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Right now, many HYSAs are paying between 4.00% and 5.00% APY -- enough to help your savings grow faster than inflation. Rates could drop later this year, so locking in a top rate now could mean more earnings.
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Yes. Your deposits (up to $250,000 per bank) are FDIC-insured, and you can access your money anytime.
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The biggest downside of a high-yield savings account is that interest rates can fluctuate. Unlike the fixed rates of CDs, the interest rate on savings accounts can change based on market conditions, potentially reducing your earnings over time. This variability means your returns might not be as predictable as with other fixed-rate investments.
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.