Today's Best High-Yield Savings Account Rates: August 12, 2025 -- Earn Up to 5.00% APY

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

Savers are still in a good spot. Many high-yield savings accounts are paying 4.00% APY or more, with the Fed holding rates steady thus far in 2025.

An HYSA is just like your regular savings account -- safe, easy to access, and FDIC-insured. The only real difference? The interest rate is much higher.

Rates may dip later this year, so locking in a strong APY now makes sense. And if you haven't opened one yet, it's not too late.

Here are today's best high-yield savings account rates.

  • 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 4.51% APY (Min. balance: $1,500)

Data source: Issuing banks. Rates are accurate as of August 11, 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
up to 4.50%
Rate info Circle with letter I in it. 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 with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
$0
3.40%
$0
Open Account for Discover® Online Savings

On Discover Bank's Secure Website.

4.10%
Rate info Circle with letter I in it. The annual percentage yield (APY) is accurate as of September 30, 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
Disclaimers

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code TMF925 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/12/2026, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank.

The annual percentage yield (APY) is accurate as of September 30, 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.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

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Is now the right time to open a high-yield savings account?

Right now, HYSAs are paying between 4.00% and 5.00% APY -- enough to help your money grow faster than inflation, while most people's savings are stuck earning next to nothing.

They're also safe and simple. Your deposits (up to $250,000) are FDIC-insured, and you can move or withdraw your money anytime. Link it to your checking account, and you'll have quick access whenever you need it.

It's always a smart move to keep your savings in an HYSA, but now might be an especially good moment. The Fed held rates steady at its last meeting, yet many experts expect cuts before the end of the year -- and some banks have already started trimming APYs. Wait too long, and today's higher rates could be gone.

Open a high-yield savings account in 3 easy steps

You can open an HYSA in just a few minutes. Here's how:

  1. 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.
  2. Apply online. Most banks let you open an account online. You'll just need a few basics, like your address and Social Security number.
  3. 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.

That's all it takes to open an HYSA and start earning a high APY. Note: You may also need to redirect any automatic deposits or withdrawals to your new account.

How much money can a high-yield savings account earn?

Here's how much interest you'd earn over time with an HYSA paying 4.00% APY, depending on your starting balance.

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
Data source: Author's calculations.

Even a smaller balance can earn thousands of dollars in interest over time -- and that's if you never add a cent of your own money.

So don't wait. Open a high-yield savings account today to start earning 10 times more interest than the average saver.

FAQs

  • Yes. Your deposits (up to $250,000 per bank) are FDIC-insured, and you can access your money anytime.

  • 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.

  • 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.

Our Research Expert