Today's Best High-Yield Savings Account Rates: August 23, 2025 -- Earn up to 5.00% APY
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Right now, savers are still in a good spot. Many high-yield savings accounts (HYSAs) are paying 4.00% APY or more -- far above the rates offered by most big banks.
An HYSA works like any regular savings account. Your money stays FDIC-insured, safe, and easy to reach whenever you need it. The difference is in the earnings. Even a small balance can grow much faster when you're earning several times the national average.
The Fed's next meeting is less than a month away, and the first rate cut of the year is largely expected. That means today's higher yields may not stick around, making it a good time to take advantage of higher rates while they last.
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 22, 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 4.50%
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 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.
Min. to earn
$0
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
up to 4.50%
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 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
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
CIT Platinum Savings
Member FDIC.
APY
3.85%
Rate info
3.85% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn
$5,000
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
3.85%
Rate info
3.85% APY for balances of $5,000 or more; otherwise, 0.25% APY
|
$5,000
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
APY
4.10%
Rate info
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.
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. |
4.10%
Rate info
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
|
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
For complete list of account details and fees, see our Personal Account disclosures.
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.
Should you open a high-yield savings account now?
At the moment, top HYSAs are paying between 4.00% and 5.00% APY -- far above inflation and miles ahead of what most standard savings accounts offer.
They're safe, too. Your deposits (up to $250,000) are FDIC-insured, and you can move or withdraw your money whenever you need it. Link it to your checking account, and your cash is always within easy reach.
But these rates may not last. The Fed has kept interest rates steady so far this year, yet many experts expect a cut at the upcoming September meeting -- and some banks have already begun lowering APYs in anticipation. If you wait, you could miss out on today's top savings rates.
Open an HYSA in just 3 easy steps
You can open a high-yield savings account in just a few minutes. Here's how:
- 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.
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 |
Even a smaller balance can earn thousands of dollars in interest over time -- and that's if you never add a cent more 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.
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Sources
FAQs
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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.
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Yes, high-yield savings accounts are safe as long as they're offered by an FDIC-insured bank or NCUA-insured credit union. Your deposits are protected up to $250,000 per person, per institution, in case the bank or credit union fails.
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Right now, the best savings account rates are those between about 3.80% 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 0.40%.
Our Research Expert
Jake FitzGerald is a full-time Editorial Strategist and Personal Finance Writer at Motley Fool Money, leading content production and distribution while also writing about credit cards, bank accounts, and other financial products. He has more than a decade of experience editing and shaping financial content to give readers clear, trustworthy money advice. His work focuses on delivering practical insights that empower people to make smarter financial decisions. Off the clock, he’s a fan of college football tailgates and still loyal to his favorite putter -- despite what his short game suggests.