Best High-Yield Savings Account Rates Today, July 24, 2025: Up to 5.00%

With a week left in the month, high-yield savings accounts (HYSAs) are still offering standout returns -- with APYs between 4.00% and 5.00%. That's a major improvement over the low interest rates still offered by many traditional banks.

The Fed hasn't made any rate changes so far in 2025, but that could shift soon, with the next Fed meeting starting in less than a week. In the meantime, there's still an opportunity to lock in today's elevated yields.

If you're looking for a low-risk, accessible way to grow your money, now could be a smart time to open a high-yield savings account. Here are today's top rates.

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. Open a Barclays Tiered Savings account today.

• Varo Savings -- up to 5.00% APY (Max APY on up to $5,000, 2.50% APY after)
• Axos ONE® -- up to 4.66% APY (Min. balance: $1,500)
• 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)
• Peak Bank Envision High Yield Savings -- 4.44% APY ($100 min. to open)

Data source: Issuing banks. Rates are accurate as of July 23, 2025.

Should you open a high-yield savings account now?

If you're aiming to grow your savings without taking on risk, now might be an ideal time to act. HYSAs are currently offering APYs up to 5.00% -- far higher than what you'd get from most traditional banks. These accounts also come with FDIC insurance and allow full access to your funds, so your money stays safe and flexible while earning more.

That said, today's elevated rates might not last. The Federal Reserve's next meeting wraps up in less than a week, on July 30. While most experts don't expect a rate change, nothing is set in stone -- and even a small shift in tone could impact where savings rates go next.

As the chart below shows, interest rates can move quickly. During the Fed's last round of hikes, deposit yields jumped sharply. If cuts begin later this year, as many analysts anticipate, today's top APYs could just as easily head in the other direction.

How to open a high-yield savings account

Opening an HYSA is quick and straightforward -- here's what to do:

1. Start by comparing your options. Look at different banks and credit unions to find the best combination of high APY, low fees, and convenient features like mobile apps and free transfers. Online banks often lead the pack in rates.
2. Gather your personal info. You'll need to provide basics like your name, address, Social Security number, and a valid photo ID.
3. Fill out the application. Most banks offer a simple online form, so you can open your account from your phone or computer in just a few minutes.
4. Make your first deposit. Link your existing checking or savings account to transfer funds. Some accounts require a minimum deposit to get started, so check the fine print.
5. Get connected. Download the bank's mobile app or log in through their website to keep tabs on your balance, move money around, and grow your savings with ease.

Check out our list of the best high-yield savings accounts to get started now.

$10K in an HYSA can earn almost $400 in a year

Your high-yield savings account earnings depend on just two factors: your balance and the account's annual percentage yield (APY).

Let's say you deposit $10,000 into an HYSA earning 3.90% APY -- you'd pocket around $390 in interest after one year. And because the money stays fully accessible, you can withdraw or transfer funds anytime without penalty. That's a big step up from the near-zero interest rates offered by many traditional savings accounts.

Opening an account with a top-tier APY, like Barclays Tiered Savings, can help you maximize your returns before rates drop. Open a Barclays Tiered Savings account here before rates fall again.

Open a SoFi Checking and Savings account (Member FDIC) and earn a cash bonus

For those who plan to utilize direct deposit with their new account, the SoFi Checking and Savings account (Member FDIC) is tough to beat. Not only does this savings account offer a strong APY of up to 3.80%, but the linked checking account earns an above-average rate, too -- a rare perk.

But that's not all. Right now: Earn up to $300 bonus with direct deposit. Plus, new customers earn an extra 0.20% APY on savings for up to 6 months with direct deposit (terms apply) -- that equals up to 4.00% APY!

Frankly, it's the kind of combo that could make it worthwhile to switch banking relationships. Open a SoFi Checking and Savings account (Member FDIC) today.