Best High-Yield Savings Account Rates Today, July 31, 2025: Up to 5.00%

Published on July 31, 2025

Jake FitzGerald

By: Jake FitzGerald

Editorial Strategist

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.

The Federal Reserve wrapped up its latest meeting yesterday with no changes to interest rates -- just as markets expected. That means high-yield savings accounts (HYSAs) are still holding steady, offering some of the best returns we've seen in years, with APYs between 4.00% and 5.00%.

Along with solid interest, these accounts offer flexibility and peace of mind -- your money stays accessible, and it's protected by FDIC insurance.

If you're looking for a low-risk way to grow your savings without giving up access to your cash, this could be a great time to act. Here are the best high-yield savings account rates available today.

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. 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 4.46% 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 30, 2025.

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
4.31%
$1
3.50%
Rate info Circle with letter I in it. 3.50% annual percentage yield as of August 21, 2025. Terms apply.
$0

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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Should you open an HYSA now?

With APYs still hovering as high as 5.00%, high-yield savings accounts remain one of the most attractive low-risk options for growing your money -- offering strong returns, easy access, and FDIC protection.

But these rates may not stick around. The Federal Reserve wrapped up its latest policy meeting yesterday without changing the federal funds rate, as expected. Still, many experts believe rate cuts are likely later this year -- and that could send today's top yields heading lower.

As the chart below shows, savings rates can shift fast. During the Fed's last pivot, average deposit yields rose sharply. If cuts arrive in the coming months, those gains could reverse just as quickly.

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:

  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.

How a $10,000 HYSA deposit can earn you nearly $400 in a year

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 0.70% APY on savings for up to 6 months with direct deposit (terms apply) -- that equals up to 4.50% 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.

FAQs

  • 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.

  • 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.

  • 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%.

Our Research Expert

Jake FitzGerald
Jake FitzGerald icon-button-linkedin-2x

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.