Best High-Yield Savings Account Rates Today, July 29, 2025: Up to 5.00%
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The Federal Reserve kicks off its latest policy meeting today, and while no immediate rate changes are expected, the outcome could shape where savings rates go next. For now, high-yield savings accounts (HYSAs) remain a bright spot -- with top APYs between 4.00% and 5.00%.
Unlike traditional savings accounts, HYSAs offer a rare combination: solid returns, easy access to your money, and FDIC insurance for peace of mind.
If you're looking for a low-risk way to grow your cash while keeping it flexible, this could be a smart time to make a move. Here are the best high-yield savings rates available today.
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 28, 2025.
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 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 7/10/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by
8/12/25. 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 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 7/10/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by
8/12/25. 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 July 29, 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 July 29, 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.
Is now a good time to open an HYSA?
With APYs currently reaching up to 5.00%, high-yield savings accounts continue to offer some of the most competitive returns -- while keeping your money safe, accessible, and FDIC insured.
But these rates may not hold for much longer. The Federal Reserve's next policy meeting wraps up tomorrow, July 30. While no changes to the fed funds rate are widely expected, there's no guarantee -- and even a subtle shift in messaging could start pulling APYs lower.
As the chart below shows, savings rates can change quickly. During the Fed's last pivot, average yields surged -- and if rate cuts begin later this year, today's top returns could fade just as fast.
How to open a high-yield savings account
Opening an HYSA doesn't take much time -- and the process is easier than you might think. Here's how to get started:
- 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.
- Gather your personal info. You'll need to provide basics like your name, address, Social Security number, and a valid photo ID.
- 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.
- 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.
- 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.
Grow your $10K savings by nearly $400 in a year -- no strings attached
The more you save and the higher your annual percentage yield (APY), the more interest you'll earn.
For instance, a $10,000 deposit in a high-yield savings account offering 3.90% APY would earn you about $390 in a year -- all while keeping your money easily accessible. Unlike a CD, there's no need to lock in your funds, and you won't face penalties for making withdrawals. That's a major upgrade from the minimal interest you'd see at most big banks.
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.
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Sources
FAQs
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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 0.38%.
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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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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.