Banking
Get the full rundown on bank accounts, including the best picks for your money and essential education on checking, savings, and CD accounts.
Dive deeper into our banks library
Start comparing banks
The Motley Fool's top banking resources
FAQs
-
A bank is an institution where anyone (approved by the bank) can deposit savings and take out loans. Banks are often seen as a convenient and secure way to store money, and some account types also earn interest. Most banks have both online and in-person services.
-
An online bank is a financial institution that takes deposits and makes loans online, without any physical branches.
-
A credit union is a nonprofit financial institution that exists to serve its members. Unlike banks, credit unions are owned and operated by their members, with a focus on providing affordable financial products and services.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. 
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
up to 3.80%
Rate info
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.
Min. to earn: $0
|
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!
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.
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
3.50%
Rate info
3.50% annual percentage yield as of August 9, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
Open Account for Barclays Tiered Savings
On Barclays' Secure Website.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
3.90%
Rate info
Balances less than $250,000 earn 3.90%, and balances greater than $250,000 earn 4.10%.
Min. to earn: $0
|
N/A
|
Open Account for Barclays Tiered Savings
On Barclays' Secure Website. |
Keep learning about banking
Recent Articles
View All Articles
Aug. 9, 2025 | By
Ryan Wilcox
Should You Cash Out Your CD Early? Here's How to Tell
Thinking about taking cash out of your CD early? Learn how to calculate if it's worth it, and why a high-yield savings account might be the better move.
Aug. 9, 2025 | By
Ryan Wilcox
Keeping Your Savings in a Wells Fargo Account Could Cost You a Flight Every Year
Wells Fargo's savings account pays just 0.01% APY. See how switching to a high-yield savings account could earn you hundreds more per year.
Aug. 9, 2025 | By
Joel O'Leary
Want a Safe 4% Return? Here's How CDs Work
Learn how CDs can grow your savings with zero market risk, as well as where and when is the best time to invest.
Aug. 9, 2025 | By
Jake FitzGerald
Today's Best High-Yield Savings Account Rates for August 9, 2025 -- Earn Up to 5.00% APY
As of early August, high-yield savings accounts are offering 4.00% APY or more -- check out today's top rates and see where your money can earn the most.
Aug. 8, 2025 | By
Joel O'Leary
Sticking With a Wells Fargo Savings Account Could Cost You $5,000 Over the Next Decade
Wells Fargo's low savings rates could drain your future earnings. Here's how to avoid missing out on thousands of dollars in interest.
Aug. 8, 2025 | By
Jake FitzGerald
Up to 5.00% APY: These Are the Best High-Yield Savings Account Rates Today, August 8, 2025
High-yield savings accounts offer APYs of 4.00% or more as of early August. Here are some of the highest-paying accounts now.
Aug. 7, 2025 | By
Jake FitzGerald
Best High-Yield Savings Account Rates Today, August 7, 2025: Up to 5.00%
Now paying up to 5.00% APY, today's high-yield savings accounts might not stay this rewarding for long -- lock in a top rate before these offers disappear.
Aug. 6, 2025 | By
Ryan Wilcox
$10,000 in Savings Earns $1 at Chase, but $400 at This Bank
Still using a Chase savings account? Learn how switching to CIT Platinum Savings could earn you hundreds more in annual interest.
Aug. 6, 2025 | By
Jake FitzGerald
Best High-Yield Savings Account Rates Today, August 6, 2025: Up to 5.00%
Today's high-yield savings accounts offer up to 5.00% APY -- grow your money faster with full access and no need to lock in your cash.
Aug. 5, 2025 | By
Ryan Wilcox
Rocket Money Promises to Make Budgeting Easy. Does It Deliver?
Rocket Money has a handful of great tools designed to help you save. Here's what you'll get for as low as $6 a month.
Share This Page
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.
Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. American Express is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Axos Financial, Bank of America, Goldman Sachs Group, JPMorgan Chase, Target, and U.S. Bancorp. The Motley Fool recommends Barclays Plc and Capital One Financial. The Motley Fool has a disclosure policy.