Best High-Yield Savings Account Rates Today, May 2, 2025: Up to 5.00%

Published on May 2, 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.

KEY POINTS

  • The best high-yield savings account rate today: 5.00% APY.
  • High-yield savings accounts allow your money to grow, while ensuring you can still access it whenever necessary.
  • Most HYSAs can be opened right from your mobile phone or computer.

After a series of rate cuts from the Federal Reserve that began in late 2024, and a pause to start 2025, experts expect rates to trend lower as the year goes on. That makes right now a wise time to benefit from one of the highest-yielding savings accounts before the next move.

Many high-yield savings accounts continue to offer APYs above 4.00%, with some standout offers pushing even higher. If you're looking for a low-risk place to grow your emergency fund or stash some cash for short-term goals, these accounts are definitely worth a look.

We check rates from top banks every day to sort the best options available. Below are today's highest savings account offers.

Bank Account APY Minimum Account Balance
Varo Savings up to 5.00% Max APY on up to $5,000, 2.50% APY after
Axos ONE® up to 4.46% $1,500
Pibank Savings 4.60% $0
Presidential Bank Advantage Savings up to 4.50% $5,000 to open. Must maintain an Advantage Checking Account to be eligible for top APY.
Data source: Issuing banks. Rates are accurate as of May 1, 2025.

Why we chose these high-yield savings accounts

The accounts above stood out to us for several key reasons:

  • High APYs. These are among the most competitive interest rates available, helping your money grow faster.
  • Low barriers to entry. Some accounts have low or no minimum deposit requirements to open or earn interest.
  • Available nationwide. These banks let you open an account from anywhere in the U.S. without needing to join a local credit union.
  • Online convenience. Every account listed can be opened and managed entirely online from your phone or computer.

If you're not earning more than 4.00% APY on your savings, it might be time to switch. Rates have been mostly flat since the end of 2024, but several online banks are leading the pack without requiring huge balances. We like Barclays Tiered Savings account because it pays 3.90% with no account minimums. Pro tip: Be careful with teaser rates that drop after a few months. Always check the fine print. Click here to open a Barclays Tiered Savings 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 with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
$0
4.31%
$1
3.50%
Rate info Circle with letter I in it. 3.50% annual percentage yield as of August 28, 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.

Should you open a high-yield savings account?

Got extra cash in a regular savings account earning next to nothing? It's a good time to think about switching. With the Fed holding rates steady so far this year, high-yield savings accounts offer a way to grow your money without losing access.

Opening a high-yield savings account could make sense if:

  • You want to earn more interest without locking up your money
  • You want an account with no or low fees and easy online access
  • You prefer flexibility over committing to a fixed term
  • You value safety -- most accounts are FDIC insured

HYSAs give you a better return while keeping your cash handy. They're great for emergencies, upcoming expenses, or savings goals you want to reach in the next year or two. Click here to compare the best high-yield savings accounts and open one today.

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. When you're ready, follow these five easy steps:

  1. Compare accounts. Look for the best APY, but also consider fees, ease of access, and minimum balance rules.
  2. Apply online. Most accounts can be opened from your phone or computer -- no paperwork required.
  3. Fund your account. Link an existing checking or savings account and transfer your money.
  4. Set up recurring deposits (optional). Some accounts offer higher APYs when you make regular monthly contributions.
  5. Track your balance and earnings. Interest usually compounds daily and is paid monthly, helping your savings grow faster over time.

Want to avoid monthly deposit requirements?

Some high-yield savings accounts give you great rates without any catches. You don't need to make regular deposits, keep a minimum balance, or worry about monthly fees. If you want something easy, check out the Discover® Online Savings account. It offers a 3.50% APY, and you don't need a minimum deposit to open the account.

FAQs

  • 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 0.39%.

  • 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.

  • 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 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.