Best High-Yield Savings Account Rates Today, May 16, 2025: Up to 5.00%
KEY POINTS
- The best high-yield savings account rate today: 5.00% APY.
- Let your money work harder for you -- take advantage of one of today's top rates.
- Open your account and manage your savings with the convenience of a mobile app.
With the Federal Reserve keeping interest rates unchanged for now, savers still have a window to lock in some of the highest APYs we've seen in years. Today's best high-yield savings accounts (HYSAs) are offering rates between 4.50% and 5.00%.
That's more than 10x-12x the national average -- making HYSAs a smart place to park your cash while we await the Fed's next move. Whether you're saving for a specific goal, padding your emergency fund, or just want your money to work a little harder, a high-yield savings account is one of the safest, most reliable tools available.
We review accounts at dozens of banks every day to highlight the top accounts offering the highest returns with low fees, flexible access, and FDIC insurance. Here are the best HYSA rates available today.
Special pick: The Barclays Tiered Savings account stands out with a 4.00% 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% (Max APY on up to $5,000, 2.50% APY after)
- Axos ONE® -- up to 4.66% (Minimum balance: $1,500)
- Pibank Savings -- 4.60% (No minimum balance)
- Presidential Bank Advantage Savings -- up to 4.50% (Requires $5,000 to open and an Advantage Checking Account for top APY)
Data source: Issuing banks. Rates are accurate as of May 15, 2025.
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.
Should you open a high-yield savings account now?
The federal funds rate is being held steady for the time being. As such, now is still an excellent opportunity to take advantage of high APYs and boost your earnings while competitive rates persist. Right now, HYSAs are offering rates up to 5.00%.
The chart below shows how quickly average deposit rates across U.S. banks rose the last time the Fed pivoted -- climbing from below 0.10% to nearly 0.50% in a little over a year. Rates could drop again just as quickly if cuts begin later this year as experts largely expect.
How to open a high-yield savings account
Getting started with a high-yield savings account is easy and usually takes just a few minutes:
- Compare accounts. Look for the best APY, but also consider fees, ease of access, and minimum balance rules. Check out our full list of the best high-yield savings accounts here.
- Apply online. Most accounts can be opened from your phone or computer -- no paperwork required.
- Fund your account. Link an existing checking or savings account and transfer your money.
- Set up recurring deposits (optional). Some accounts offer higher APYs when you make regular monthly contributions.
- Track your balance and earnings. Interest usually compounds daily and is paid monthly, helping your savings grow faster over time.
A $10,000 HYSA deposit could earn $400 in a year
Earnings with a high-yield savings account depend on your account balance and the account APY (annual percentage yield).
For example, a $10,000 account balance with a 4.00% APY would earn roughly $400 in a year -- without locking up your cash.
Compare that to a traditional savings account, where rates are often much lower. Opening a high-APY account, like Barclays Tiered Savings account, 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 get a cash bonus
For those who plan to set up direct deposit with their new account, the SoFi Checking and Savings account (Member FDIC) is hard 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. Even better: New customers can earn up to a $300 bonus with qualifying direct deposits!
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 and see how to qualify for the full bonus.
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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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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.
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Right now, the best savings account rates are those between 4.00% 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 0.41%.
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.