Top 10 High-Yield Savings Accounts

Nov 17, 2024

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Finding the best place to grow your savings is crucial, especially with interest rates fluctuating. High-yield savings accounts (HYSAs) offer significantly better returns than traditional savings accounts, while still keeping your money safe and accessible. Here’s a look at some of the top HYSAs available as of April 11, 2025, based on their Annual Percentage Yield (APY), features, fees, and accessibility. Remember that APYs are variable and can change.

Detailed High-Yield Savings Account Reviews

1. Bread Savings – High-Yield Savings

APY: 4.40% (Variable)

Key Details:

Minimum Opening Deposit: $100
Minimum Balance to Earn APY: $0.01
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Mobile Check Deposit, Wire
ATM Access: No
Other Fees: $25 Outgoing Wire, $5 Paper Statement

Commentary: Bread Savings offers a highly competitive APY with no monthly fees and a reasonable minimum opening deposit. It’s a straightforward online savings account best suited for users comfortable with digital-only banking and who don’t require ATM access or checking features. Watch out for the paper statement fee.

2. Bask Bank – Interest Savings Account

APY: 4.35% (Variable)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $0.01
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes (via Texas Capital Bank)

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Mobile Check Deposit, Wire, Mail Check
ATM Access: No
Other Fees: $35 Outgoing Wire

Commentary: Bask Bank provides a strong APY with no minimums and no fees, making it accessible for all savers. As an online-only division of Texas Capital Bank, it focuses purely on savings products (interest or airline miles). Lack of ATM access makes it unsuitable for those needing frequent cash withdrawals.

3. CIT Bank – Platinum Savings

APY: 4.10% (Variable, Tiered – requires $5,000+ balance)

Key Details:

Minimum Opening Deposit: $100
Minimum Balance to Earn APY: $5,000 (lower rate below this)
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes (Division of First Citizens Bank)

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Mobile Check Deposit, Wire, Mail Check
ATM Access: No
Other Fees: $10 Outgoing Wire (under $25k balance)

Commentary: CIT Bank’s Platinum Savings offers a very competitive rate, but only for balances above $5,000 (balances below earn a much lower 0.25% APY). It’s a good option for those who can maintain the minimum balance requirement and prefer a digital experience with no monthly fees.

4. Barclays – Tiered Savings

APY: 4.15% (Variable, Tiered – applies to balances under $250k)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $0.01
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Mobile Check Deposit, Wire, Mail Check, Direct Deposit
ATM Access: No
Other Fees: $0 Outgoing Wire, $5 Returned Deposit
Unique: 4.40% APY on balances $250k+

Commentary: Barclays Tiered Savings offers a competitive base APY (4.15%) with an even higher rate for very large balances ($250k+). It features no minimums or monthly fees and includes a goal-setting tool. As an online-only US offering, it lacks physical branches and ATM access, and customer service reviews are mixed.

5. SoFi – Checking and Savings

APY: Up to 3.80% on Savings (Variable, Conditional – requires direct deposit or $5k+ monthly deposits)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $0
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes (up to $2M via partner banks)

Features & Access:

Access: Online, Mobile App, ATM Card
Funding: Direct Deposit, ACH Transfer, Mobile Check Deposit, Wire, Cash (Retail)
ATM Access: Yes (Allpoint Network – Fee-Free)
Other Fees: Minimal (Potential cash deposit fee)
Bonus: Up to $300 (Requires $5k+ DD)

Commentary: SoFi provides a feature-rich checking (0.50% APY) and savings combo account. The highest savings APY requires direct deposit or significant monthly deposits (otherwise 1.00%). Its strengths are the integrated platform, strong mobile app, ATM access, savings vaults, and lack of common fees. Good for users seeking an all-in-one digital banking solution.

6. Marcus by Goldman Sachs – Online Savings Account

APY: 3.75% (Variable)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $0.01
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Wire, Mail Check, Direct Deposit
ATM Access: No
Other Fees: $0
Support: 24/7 Phone Support

Commentary: Marcus offers a competitive APY from a reputable financial institution with no minimums or fees. The potential for same-day transfers (up to $100k) and 24/7 support are key benefits. It’s a solid choice for savers prioritizing yield and customer service within a simple online savings framework.

7. American Express® National Bank – High Yield Savings Account

APY: 3.70% (Variable)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $1.00
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Mobile Check Deposit, Wire, Mail Check, Direct Deposit
ATM Access: No
Other Fees: $0
Support: 24/7 Phone Support

Commentary: American Express offers a solid, no-fuss high-yield savings account with the backing of a trusted brand. It features a competitive APY, no fees, no minimums, and excellent 24/7 customer support. The lack of ATM access and cash deposit options makes it strictly for online savings.

8. Discover Bank – Online Savings Account

APY: 3.70% (Variable)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $0
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Mobile Check Deposit, Wire, Mail Check, Direct Deposit
ATM Access: No (requires checking)
Other Fees: $30 Outgoing Wire
Bonus: Up to $200 (Offer code TMF325, requires $25k deposit, ends 9/11/25)

Commentary: Discover provides a reliable online savings account with a competitive rate, no fees, and excellent customer support. Strengths include daily compounding interest and a strong mobile app experience, especially for existing Discover cardholders. The welcome bonus is appealing but requires a large deposit.

9. Ally Bank – Online Savings Account

APY: 3.60% (Variable)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $0
Monthly Fee: $0
Compounding: Daily
FDIC Insured: Yes

Features & Access:

Access: Online, Mobile App
Funding: ACH Transfer, Mobile Check Deposit, Wire, Mail Check, Direct Deposit
ATM Access: No (requires checking)
Other Fees: $20 Outgoing Wire
Unique: Savings Buckets, Surprise Savings Tool

Commentary: Ally remains a top choice for online savings due to its user-friendly platform, excellent 24/7 customer service, and innovative savings tools like ‘Buckets’ and ‘Surprise Savings’. While its APY might not be the absolute highest, its overall package of features and lack of fees makes it very appealing.

10. Capital One – 360 Performance Savings

APY: 3.60% (Variable)

Key Details:

Minimum Opening Deposit: $0
Minimum Balance to Earn APY: $0.01
Monthly Fee: $0
Compounding: Monthly
FDIC Insured: Yes

Features & Access:

Access: Online, Mobile App, ATM Card (w/ checking), Branch/Cafe
Funding: ACH Transfer, Mobile Check Deposit, Wire, Mail Check, Direct Deposit, Cash (Retail)
ATM Access: Yes (Allpoint/MoneyPass – Fee-Free)
Other Fees: $30 Outgoing Wire
Unique: Cafe Access, Automatic Savings Plan

Commentary: Capital One 360 Performance Savings offers a solid APY with no fees or minimums, backed by a well-known bank. Its advantages include a strong mobile app, access to a large ATM network (usually via a linked checking account), and the unique benefit of physical Cafe locations for some support needs.

Quick Comparison: Top High-Yield Savings Accounts

Bank	Account Name	APY	Minimum Deposit	Monthly Fee
Bread Savings	High-Yield Savings	4.40%	$100	$0
Bask Bank	Interest Savings Account	4.35%	$0	$0
CIT Bank	Platinum Savings	4.10%*	$100	$0
Barclays	Tiered Savings	4.15%**	$0	$0
SoFi	Checking and Savings	Up to 3.80%***	$0	$0
Marcus by Goldman Sachs	Online Savings Account	3.75%	$0	$0
American Express	High Yield Savings Account	3.70%	$0	$0
Discover Bank	Online Savings Account	3.70%	$0	$0
Ally Bank	Online Savings Account	3.60%	$0	$0
Capital One	360 Performance Savings	3.60%	$0	$0

*APY applies to balances of $5,000 or more. **APY applies to balances under $250,000; higher tier available. ***Highest APY requires direct deposit or qualifying monthly deposits.