Best High Yield Savings Accounts – up to 5.50% APY

September 20, 2024

Here’s a list of the best high interest savings accounts. Get up to 5.50% APY with a basic savings account. There are also accounts with requirements that pay even more. We don’t receive any commissions for any of these, and ALL banks are included in this list.

Contents

1 Best Basic Savings Rates
- 1.1 Other Basic Options
- 1.2 Alternative High-Yield Options
2 Best CD Rates
3 Best Business Savings Rates
4 Mega High-Interest (Nationwide)
5 Mega High-Interest (Regional)

Best Basic Savings Rates

Leaving money in a regular bank account will usually get you a terrible interest rate. With a little research, we can find accounts that offer competitive rates. These are all ordinary savings accounts with no hoops to jump through, and they are FDIC/NCUA insured up to $250,000 (please verify insured status for yourself with FDIC and with NCUA before using a bank or credit union).

Here are the best options available, rated in APY from highest to lowest:

Pibank – 5.50% savings (app only)
Openbank/Santander – 5.00% high yield savings
Timbr – 5.25% bold savings
Newtek Bank – 5.25% savings
TotalBank – 5.11% money market (balances $2,500-$500,000; not available in FL)
Peak Bank – 4.75% Envision savings
EverBank (TIAA) – 4.75% APY Performance Savings
Vio Bank – 4.90% APY money market
Valley Direct – 4.00% APY savings (new customers) (12,000 MyPoints signup bonus)
Poppy Bank – 5.00% premier savings ($25k monthly withdraw limit)
Forbright Bank – 5.00% savings
Brio – 5.00% high yield savings (minimum $5,000 to open)
Ivy Bank – 5.00% savings ($2,500 minimum; nationwide except for CA)
Modern Bank – 5.00% high yield money market (minimum $100,000)
MyBankingDirect – 4.85% APY savings
Quontic – 5.00% money market
mph – 5.00% savings
CFG Bank – 4.80% APY high-yield money market (must maintain minimum $1,000)
Flagstar – 4.90% savings (minimum $25k, guaranteed for 5 months, then it drops)
NASB – 4.90% E-Savings (check incognito) ($10,000 minimum) (see this comment)
First Foundation – 4.90% APY money market
Bask Bank – 4.65% APY savings (our review)
Eagle Bank – 4.85% savings (not in CA, NV, or VT)
Brilliant Bank – 4.85% APY surge money market (minimum $2,000 to avoid fee)(see this comment)
Dollar Savings Direct – 4.85% APY savings (see this comment)
Northern Bank Direct – 4.85% APY premier money market
Western Alliance – 4.81% high yield savings (review)
Jenius Bank – 4.80% savings
Popular Direct – 4.80% APY savings (see this comment)
Comenity ‘Bread’ – 4.75% APY savings
Laurel Road – 4.50% high yield savings
Merchants Bank – 4.75% APY money market
Primis Bank – 4.75% APY savings(review)
Evergreen Bank – 4.75% high yield online savings
VirtualBank – 4.75% APY eMoney Market
Fierce – 4.75% cash account (requires iOS app)($30 Swagbucks bonus)
Styl Bank – 4.75% APY
Customers Bank – 4.48% savings ($25k minimum)(auto-adjusts with fed rate)
Climate First Bank – 4.72% money market (or checking)
Republic Bank – 4.71% APY money market (minimum $2,500)(nationwide except IL, IN, WI, MI)
CIT Bank – 4.55% platinum savings ($5,000 minimum)
Lending Club Banking – 4.30% APY high yield savings (see below for 5.30% option)
Upgrade – 4.41% APY everyday/premier/performance savings (minimum $1,000)(see this comment)
CIBC – 4.61% APY savings (minimum $1,000)
BMO Harris – 4.60% alto online savings (select markets)
Public – 4.60% high yield cash account
UFB – 4.31% APY savings account (see this comment and this)
TAB Bank – 4.52% high yield savings
Primis Bank – 4.50% APY checking (review)
Salem Five Direct – 4.50% APY eone savings (see this comment)
Western State Bank – 4.50% APY money market (our review)
Barclays – 4.50% tiers savings
Wealthfront – 4.50% APY cash account (signup bonus)
Betterment – 4.50% saving account (our review)(temporary .75% boost)
Presidential Bank – 4.50% Advantage Savings ($25k-$250k; requires checking)
Prime Alliance – 4.50% savings (minimum $10,000)
Colorado Federal – 4.45% APY savings
Wise – 4.44% interest feature
Redneck Bank / All America Bank – 4.40% APY money market, up to $100,000 (review)
One Finance -4.35% savings ($5,000 minimum, $100,000 max)(review)
Synchrony – 4.30% APY savings (Paypal version here)
Live Oak Bank – 4.30% APY savings
Webull – 4.25% cash management account
PNC – 4.25% high-yield savings (select areas)
E*Trade – 4.25% APY savings
Sallie Mae – 4.20% APY money market
Empower/Personal Capital – 4.20% APY cash account (our review)
Vanguard – 4.15% Cash Plus account
Citizens Access – 4.15% APY savings account
Apple Card/Goldman Sachs – 4.15% savings (our review)
Capital One 360 – 4.00% APY savings
Discover – 4.o0% APY savings (review)
Marcus Bank – 4.10% APY savings
American Express – 4.00% APY savings account
Citibank – 4.10% APY savings (not available in all states) (our review)
Ally Bank – 4.00% APY savings or money market
TradeUp – 3.98% Cash+ program ($100k minimum)
U.S. Bank – 3.75% elite money market (minimum $25,000)
Alliant Credit Union – 3.10% APY savings
PenFed – 3.00% APY premium savings
Blupeak – 2.75% money market ($300 bonus)
T-Mobile Money – 2.50% APY savings for anyone (4% on up to $3,000 for T-Mobile customers; our review)
Fidelity – 2.47% cash management account
Chime – 2.00% savings
American Express – 1.00% APY checking account (our review)

Other Basic Options

Lending Club – 5.00% Level Up Savings (requires $250 deposit prior month)(see this comment)
First Internet Bank – 4.95% money market with balances of $1M+
Maxmyinterest – 4.61% max savings (see this review first)
Robinhood – 4.50% APY for those with Gold membership ($5/month; our review)
M1 Finance – 4.50% APY savings account (our review)
~~Morgan Stanley~~ – 4.50% APY Preferred Savings Program
Farmers Insurance FCU – 4.50% 9 month no-penalty CD (membership via ACC)
SoFi Savings – 4.20% with monthly direct deposit of any amount (our review)
Marcus – 4.20% APY 7-month no penalty CD
Merrill Edge Preferred Deposit – 4.18% savings (initial opening needs $100,000)
USAlliance – 4.15% 11-month no penalty CD
J.P. Morgan Premium Deposit – 4.00% ($100,000 minimum initial deposit)
Ally Bank – 4.00% 11-month no penalty CD (review)
Customers Bank – 2.00% APY checking (requires 2 bill payments, otherwise rate is 1%)

All of these rates will fluctuate over time, and we’re constantly updating this list. There is an advantage to a bank who has a proven track record of giving good interest rates since some of the top rates might be ‘bait-and-switch’ soon to be lowered. Banks like CFG, Discover, Marcus, Ally and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate. See also What’s The Best Simple High-Yield Savings Account?

Another thing to keep in mind is that while most banks automatically increase your rate as interest rates increase, some don’t. We wrote data points on which do and which don’t here. Keep that in mind when choosing a bank.

Most of these are savings accounts, with a few checking accounts mixed in. We wrote about options for getting a high yield on your checking account in this post.

Alternative High-Yield Options

Government Series I Bonds are currently offering 4.30%, you’re limiting to purchasing $10,000 annually (our review)
U.S. Treasury Bills (our review)
Brokerage Money market funds and Bond funds
U.S. Series EE Bonds
CD Annuities
Vanguard VMFXX – 5.16% (more options)
Fidelity SPAXX – 4.91% (more options)
Schwab SNVXX – 4.88% (more options)
SGOV etf treasury fund
Interactive Brokers – 4.33% for IBKR Pro (minimum $100,000 balance)

Best CD Rates

Nationwide CD Offers:

11 Months or Less

12-18 Months

Schwab up to 4.50% APY brokered CD 6-months (review)
Vanguard up to 4.55% APY brokered CD 6-months (review)
Fidelity up to 4.55% APY brokered CD 6-months (review)
Merchants Bank 5.39% flex CD 12/24/36 month (rate changes, tied to fed rate) (our review)

19+ Months

Farmers Insurance FCU 5.00% 3/6/9/12/18/24-month (membership via ACC)
Connexus CU 4.58% APY 24-month CD (minimum $5,000)(join w/ $5 donation)
Pelican State CU 4.33% 24-month CD
Comenity ‘Bread’ 4.10% APY 24-month CD
NASA FCU 4.09% APY 49-month CD (review)
Fidelity Bank 3.92% 25-month CD
BMO Alto 3.90% 24-month CD
American Express 3.74% 24-month CD

Best Business Savings Rates

Credit Karma – 5.00% savings for Quickbooks customers
NBKC Bank – up to 4.50% business CD
Wise business – 4.44%
Primis – 4.00% business savings
Live Oak Bank – 3.80% business savings
U.S. Senate FCU (USSFCU) 3.65% APY 24-month CD (join with ACC membership free)
Lending Club Banking – 3.35% APY business savings (review)
TAB Bank – 3.50% money market
First Internet Bank – 3.40% APY money market
[CT, MA, RI, PA] Owners Bank – between 3.50% and 5.01%
Newtek Bank – 3.50% business savings
First Internet Bank – 3.25% APY money market savings ($4,000 minimum to waive fee)
Panacea/Primis – 2.50% business savings
Bluevine – 4.25% APY business checking (requires $100k and $5k spend to waive $95 fee)
Bluevine – 1.50% APY business checking (up to $250,000; requires receivables or debit spend)
NBKC Bank – 2.00% business money market
American Express Business – 1.30% APY checking account (up to $500,000; plus 30k bonus)
Paramount Bank – 1.10% business money market ($5,000 minimum to avoid fee)
Axos Bank – 1.01% APY business checking (up to $50,000)
Lending Club Banking – 1.00% APY tailored checking (review)
Newtek Bank – 1.00% business checking
Usalliance – rate varies from .05% to .60% depending on deposit amount
Axos Bank – .20% business premium savings

Mega High-Interest (Nationwide)

Aside from basic accounts offering competitive interest rates, there are ultra high-yield options which are more involved and take time and patience to deal with. Bear in mind, all of the best options have velocity limits, sometimes it’s $5k, $10k, $15k, or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that. Someone who is impatient or doesn’t have spare time would best use a standard high-interest savings account options and forget about the velocity-limited accounts.

Below you’ll find all mega high interest accounts which are available nationwide, and in the next segment we list the regional options.

More Restrictive Options:

Mega High-Interest (Regional)

Below are the regional accounts we’ve reviewed on the site. There are many more as well.

Maryland: First Financial FCU 6.09% 9-Month CD
Parts of Nebraska, Iowa: Metro CU 6.00% 13-month CD
Texas, Oklahoma: Union Square Credit Union 4.50% APY On Balances Up To $25,000
North Carolina, South Carolina, Virginia, Georgia, Tennessee: Truliant FCU 6.25% CD
Louisiana, Arkansas: CNext Bank 7.00% APY Checking Account On Up To $30,000
Ohio: Buckeye State Bank 5% APY On Balances Up To $15,000
Iowa: Advantage Credit Union 6% APY 12 Month CD
Parts of Texas: Keystone 6% on up to $50,000
Texas, Mississippi, Louisiana: Origin Bank Performance Checking: 6% APY, Balances Up To $40,000
Texas, Nevada, Michigan: InTouch Credit Union High Yield Checking Account – 6.17% APY On Balances Up To $30,000
Iowa, Nebraska, Minnesota, South Dakota: Iowa State Bank 3.25% APY on up to $25k
Arkansas, Indiana, Nevada, North Carolina, Ohio, Michigan: United Federal Credit Union: Ultra Checking Account – Earn 3% APY On Balances Up To $15,000
Maryland, Delaware: Destinations Credit Union: 3% Reward Checking Account, Up to $10,000
Wisconsin, Illinois: Landmark Credit Union 7.50% APY High Rate – Balances Of Up To $500
Virginia, North Carolina: Beacon Credit Union 5.05% APY On Balances Up To $2,500
Wyoming, Nebraska: Meridian Trust Federal Credit Union 3% APY On Balances Up To $15,000
Illinois, Iowa: South East National Bank 3% APY On Balances Up o $10,000
Arkansas, Mississippi: First Financial Bank 4.33% APY on Balances Up To $15,000 – Direct Deposit Not Required
Parts of Arizona, California: Meriwest Credit Union 2.50% savings account on up to $5k [must be opened within 30 days of joining]
Arizona Branches: Sunwest Credit Union 5.12% APY 12-Month CD (Unlimited)

Maryland: Freedom Financial Credit Union 3% APY on balances up to $10,000
Michigan: First United Credit Union 4% APY + $50 Bonus ($10,000 Limit)
Michigan: Consumers Credit Union 4% APY
Michigan (nationwide?): Chief Financial Credit Union 5.00% APY – No Direct Deposit Required
Michigan: Arbor Financial CU 4% Checking On Balances Up To $15,000
Michigan: Financial Plus Credit Union 4.15% APY On Balances Up To $10,000
Michigan: Adventure Credit Union – 4% APY On Balances Up To $10,000
Michigan: Kellogg Community Credit Union 4% APY Checking Account On Balances Up To $15,000
Michigan: AAA High-Yield Checking – 2.85% On Balances Up To $10,000
Michigan: Dort Federal Credit Union 6.5% APY On Balances Up To $10,000
Minnesota: St Paul Federal Credit Union 4.99% On Balances Up To $20,000
Missouri: Legacy Bank & Trust i-Profit 4% APY on Up To $10,000
Missouri: Ozark Bank 3% APY Checking on Balances up to $10,000
Missouri: Hawthorn Bank 3.01% APY On Balances Up To $30,000
Nebraska: Liberty First Credit Union 3% APY On Balances Up To $30,000
In parts of New York: Solvay Bank 4% APY Checking on Balances up to $15,000
New York: Apple Bank Youth (6-17) Savings Account: 3% APY On Balances Up To $10,000
Ohio: Bridge Credit Union 10% APY Account On Balances Up To $1,500 (Lots Of Monthly Requirements)
Oregon: Oregon Community Credit Union (OCCU) – 5.25% APY On Balances Up To $500 Ignite Savings Account
South Dakota: Reliabank Ultimate Checking – 3.51% APY On Balances Up To $25,000 – Direct Deposit Not Required
El Paso, Texas only: Evolve FCU Rewards ePriority Checking Account – 3% APY On Balances Up To $10,000
Texas: Neighborhood Credit Union 4.25% APY On Balances Up To $50,000 + $200 Bonus
parts of Texas: Education Credit Union 6.10% APY on up to $50,000
Washington: STCU 5.09% APY on balances up to $500 with no requirements
Washington: Canopy Credit Union offering 6.17% APY on first $25k
Washington, Oregon, Idaho: Gesa 7.00% APY on $500 in Savings (no requirements) and $5,000 Checking (requirements) (our review)
Wyoming: WyHy FCU 3% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required

Name*

Website

Name*

Website

17.8K Comments

newest

oldest most voted

Grateful (@guest_1955835)

November 20, 2024 18:40

#1955835

E*Trade – 4.25% APY savings is now 4.10%

MK (@guest_1955737)

November 20, 2024 15:19

#1955737

CFG has consistently been dropping their rates. Should I jump ship to Pi Bank?

Rad (@guest_1955949)

November 20, 2024 22:08

#1955949

Primis has been the most reliable and consistent with its 5.07% (for existing clients), which was previously 5.15% for some, 5.35% for others.

Terp (@guest_1955434)

November 20, 2024 09:05

#1955434

DERI (aka ‘The Dairy’) is down, 5% >> 4.75%

Annoying… I had theories about which products might be more inelastic moving down.

‘The Dairy’ should have been more inelastic as it is a bond hybrid checking/banking product with a small element of risk. But nope. Since September, ‘The Dairy’ dropped from 5.5% >> 5.0% >> 4.75%

I thought products with additional requirements — like Lending Club LevelDown — would be more inelastic downward. Nope.

My inelastic downward theories have not panned out.

ink_me_please (@guest_1955758)

November 20, 2024 15:49

#1955758

Terp

It’s still fun speculating on how these bastards opperate. lulz

k47 (@guest_1955326)

November 20, 2024 00:22

#1955326

Can we get a dedicated page for Pibank? They are a very peculiar bank and it would be very useful to have a place to share comments, insights, information, etc.

Redd (@guest_1955663)

November 20, 2024 13:36

#1955663

k47

@k47 do tell….

k47 (@guest_1955325)

November 20, 2024 00:20

#1955325

Can we get a dedicated page for Lending Club Consumer Savings Accounts with LevelUp Rate? I would like to get/share info on what methods count as direct deposit as well as other comments/info on Lending Club. Thanks!

Bertrand (@guest_1955467)

November 20, 2024 09:47

#1955467

k47

The policy seems to be to not make dedicated posts for individual HYSAs, and in my opinion that makes sense as putting them on the front page would be a good way to get them nerfed. There is tons of information already in this thread. And if you have any questions, ask and it will get answered.

The LC LevelUp account does not require a direct deposit. Any ACH deposit of $250+ works to qualify for the increased rate.

Eric 🔗 (@guest_1955648)

November 20, 2024 13:22

#1955648

Bertrand

What makes you think that’s DoC’s policy? Customers, Pelican and many others have their own page.

Bertrand (@guest_1955702)

November 20, 2024 14:17

#1955702

Eric 🔗

The dedicated pages that I’m aware of are for what are here classified as “Mega High Interest” accounts, e.g. Pelican, OnPath, Liberty FCU (back when their rate was well above average). “Basic” HYSAs almost never get their own page; for example, there has never been a dedicated page for CFG, perhaps the most popular HYSA. I guess Customers Bank is the exception.

Eric 🔗 (@guest_1955645)

November 20, 2024 13:21

#1955645

k47

Any transfers work for LCB. I don’t think that the terms even mention that it needs to be a “DD”, let alone a “QDD”.

Grateful (@guest_1954798)

November 19, 2024 11:54

#1954798

Beware: EverBank (TIAA) – 4.75% APY Performance Savings “The quoted EverBank PerformanceSM Savings Account Annual Percentage Yield (APY) is for new accounts only, may not apply to existing accounts, and is accurate as of 11/15/2024.” My existing account is now down to 4.45% APY with no notice received.

jbrian00 (@guest_1954967)

November 19, 2024 14:39

#1954967

Grateful

Interesting. I’ve had an account for a little under a month that was advertised at 5.05%. It has fallen to 4.75% and still shows that under my account. What was your rate before showing 4.45%? When did you open an account?

Grateful (@guest_1955136)

November 19, 2024 18:25

#1955136

jbrian00

I opened on 4/12/24 and don’t know when the drop happened, but the 3rd quarter statement APY seems to be rate for new accounts, so it might have dropped on 10/12 at 6 months in.

Grateful (@guest_1954760)

November 19, 2024 11:20

#1954760

Quontic – 5.00% money market is now 4.75% APY.

ink_me_please (@guest_1954634)

November 19, 2024 08:32

#1954634

CFG has dropped yet again 4.65%

Terp (@guest_1954713)

November 19, 2024 10:24

#1954713

ink_me_please

Uugghh. Disappointing.

ink_me_please (@guest_1954842)

November 19, 2024 12:26

#1954842

Terp

Yep, uggh is right. Guess I can go ahead and start the Wings $200 savings bonus early. They are still at 4.75% (for the time being)….

Diego (@guest_1954588)

November 19, 2024 03:44

#1954588

Total Bank 5.01%
Valley Direct 4.80% for new customers, 4.00% existing
Republic Bank 4.61%
Eagle Bank 4.60%
Popular Direct 4.60%
Evergreen Bank 4.50%
Flagstar 4.50%
Merchants Bank of Indiana 4.50%
Virtual Bank 4.50%
Fierce 4.50%
Climate First 4.46%
Western Alliance 4.46%
Styl 4.25%
(I stopped at BMO Alto)