Today's Best High-Yield Savings Account Rates for August 9, 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.

Rates are still high, and that's great news if you're saving. Many high-yield savings accounts are paying 4.00% APY or more -- and that's with the Fed keeping interest rates steady all year.

HYSAs work just like regular savings accounts. Your money stays safe, you can take it out anytime, and it's FDIC insured. The big difference? You earn a lot more in interest.

Rates might drop later this year, so now's a good time to lock in one of these top offers. If you haven't opened an HYSA yet, you're not too late.

Here are some of the best high-yield savings account rates available 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 8, 2025.

Featured 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 3.80%
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 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
3.50%
Rate info Circle with letter I in it. 3.50% annual percentage yield as of August 9, 2025. Terms apply.
$0
4.00% APY for balances of $5,000 or more
Rate info Circle with letter I in it. 4.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
$100 to open account, $5,000+ for max APY

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.

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

Right now, HYSAs are paying between 4.00% and 5.00% APY. That's enough to help your savings grow faster than inflation -- while many people's cash is quietly losing value in low-rate accounts.

They're also safe and simple. Your money is FDIC-insured up to $250,000, and you can take it out or move it anytime. Most accounts let you link your checking account, so your cash is always within reach.

While it's always smart to stash your savings in an HYSA, now's an especially good time. The Fed held rates steady at its last meeting, but many experts think cuts are coming soon -- and some banks are already trimming APYs in advance. If you wait, you could miss out on today's higher rates.

How to open an HYSA in 3 simple steps

You can open a high-yield savings account in just a few minutes. Here's how:

  1. Find the best high-yield savings account for you. Look for a high APY, no monthly fees, and no requirements that you can't meet (like a minimum balance). Also make sure the bank offers a checking account so you can link it to your savings and make instant transfers.
  2. Apply for an account on the bank's website. You'll need to provide some basic information, like your address and Social Security number.
  3. Transfer your money. Log into your new bank's website and transfer money from your old savings account into your new one. Transfers between different banks typically 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 can your money earn in a high-yield savings account?

Here's how much interest you'd earn over different lengths of 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 given enough time -- and that's if you never add a cent of additional money.

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

FAQs

  • 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 0.38%.

  • 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.

  • 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.

Our Research Expert