Earn up to 5% APY in a High-Yield Savings Account Today, April 19, 2025
KEY POINTS
- The best high-yield savings rate today: 5.00% APY.
- HYSAs are an excellent place to grow your money without locking it up.
- It's fast and easy to open a new account online and transfer funds.
Your money isn't doing you any good just sitting around. Right now, high-yield savings account rates can reach up to 5.00% APY, more than 10 times the national average. These accounts are an easy way to grow your funds, with very little work required.
We sort through the options daily, finding the top rates for you. Whether saving for later or just in case, a high-yield account can boost your earnings.
Check out today's top rates for high-yield savings accounts.
| 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 4.66% | $1,500 |
| Pibank Savings | 4.60% | $0 |
| Peak Bank Envision High Yield Savings | up to 4.54% | $100 to open, 2.02% APY on balances of $10,000,000 and above |
| Presidential Bank Advantage Savings | up to 4.50% | $5,000 to open. Must maintain an Advantage Checking Account to be eligible for top APY. |
Why we chose these 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 4.10% 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 | |
 American Express® High Yield Savings Member FDIC. APY 3.70% Rate info 3.70% annual percentage yield as of April 19, 2025. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings On American Express's Secure Website. | 3.70% Rate info 3.70% annual percentage yield as of April 19, 2025. Terms apply. | $0 | Open Account for American Express® High Yield Savings On American Express's Secure Website. |
 CIT Platinum Savings Member FDIC. APY 4.10% APY for balances of $5,000 or more Rate info 4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY Min. to earn $100 to open account, $5,000+ for max APY Open Account for CIT Platinum Savings On CIT's Secure Website. | 4.10% APY for balances of $5,000 or more Rate info 4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY | $100 to open account, $5,000+ for max APY | Open Account for CIT Platinum Savings On CIT's Secure Website. |
 Barclays Tiered Savings Member FDIC. APY 4.10% Rate info Balances less than $250,000 earn 4.10%, and balances greater than $250,000 earn 4.30%. Min. to earn $0 Open Account for Barclays Tiered Savings On Barclays' Secure Website. | 4.10% Rate info Balances less than $250,000 earn 4.10%, and balances greater than $250,000 earn 4.30%. | $0 | Open Account for Barclays Tiered Savings On Barclays' Secure Website. |
Want to grow your money without locking it up?
High-yield savings accounts combine flexibility with competitive interest. If you value easy access to your funds and no long-term commitment, an HYSA may be the perfect fit.
Explore more options:
- Best High-Yield Savings Accounts -- See our top picks today
- Banks With Savings Buckets -- Track your savings goals separately
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?
Have extra cash in a low-interest account? It's time to make your money work harder. Right now, high-yield savings accounts are offering great rates as a result of the Federal Reserve holding rates steady.
Think about opening one if you:
- Want to earn more without locking up your money
- Like having FDIC insurance for peace of mind
- Need flexibility instead of a fixed term
- Want low fees and easy online access
These accounts let your money grow while staying accessible. They're perfect for emergency funds, planned expenses, or short-term goals you aim to achieve soon. Don't miss the chance to boost your savings. 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:
- Compare your options. Look for the best APY, but also consider fees, ease of access, and minimum balance rules.
- 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 the amount you want to deposit.
- 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.
Fed up with monthly deposit requirements?
Some high-yield accounts offer top rates with no strings attached -- no recurring deposit requirements, no minimum balance to earn interest, and no monthly fees. If you're looking for a hassle-free option, consider the Discover® Online Savings account, which offers a 3.70% APY with no minimum deposit.
Sources
- https://www.varomoney.com/high-yield-savings-account/
- https://www.axosbank.com/personal/bank/axos-one
- https://www.pibank.com/pibank-savings/
- https://www.peak.bank/peak-bank/savings
- https://www.presidential.com/personal/banking/savings
FAQs
Yes. Now is a great time to open a high-yield savings account and take advantage of competitive rates up to 5.00% APY. HYSAs not only help your money grow faster compared to checking and standard savings accounts, but also offer flexibility and access to your cash when you need it. Plus, managing your account is simple from mobile and online apps.
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 best high-yield savings account rates are currently those between 4.00% and 5.00%. You can earns hundreds more per year on your savings by switching to a high-yield account versus keeping your money in an account with the national average savings APY of 0.41%.
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