Best High Yield Savings Accounts – up to 5.05% APY

Here’s a list of the best high interest savings accounts. Get up to 5.10% 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.

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. Also please read this article about the FDIC insurance on fintech banks as well. 

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

Other Basic Options

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

Best CD Rates

Nationwide CD Offers:

11 Months or Less

12-18 Months

19+ Months

Best Business Savings Rates

Requirement 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:

Requirement High-Interest (Regional)

Below are the regional accounts we’ve reviewed on the site. There are many more as well.
    Chuck
  • On September 20, 2024, 16:08
Tags: high yieldHigh-Yield AccountsSavings Account

View Comments (18431)

    • Never heard and found this bank in Doctor of Credit before. Checked and found they are only located in MN. Do you have any idea if this 6%APY checking account is nationwide? @guest_1662688

  • Andrews FCU has an “Online Savings Account” that earns 5.75% on the first $1K. This will be my DCU #2 acct :

    Andrews also has a high yield savings acct (max 6 transfers/withdrawals per month) that earns 3.95%. No minimum balance or tiers.

    https://www.andrewsfcu.org/Learn/Resources/Rates/Savings-Rates

    Also it’s been updated on the linked page already but not here—Premier Members Credit Union’s reverse tiered money market acct is earning 4% on the first $2K.

    https://www.pmcu.org/personal/rates/

  • My current APY with Primis is 4.75%. Just got an email from Primis about reduction to 4.40%. Here's the relevant snippet:

    Before the holidays, the Federal Reserve adjusted rates, and to stay aligned
    with market conditions, we’re updating our accounts. Starting on January 10, 2025, your account(s) will earn a variable interest rate of 4.31% with an annual percentage yield (APY*) of 4.40%.
    Here’s what hasn’t changed:

    • Your APY remains premium—higher than what we currently offer to new customers.
    • Your APY is still one of the highest available.
    • You’ll continue to earn premium interest with no hoops or hidden fees.

  • At Primis, great rates have always been part of who we are—and we’re committed to keeping it that way.

    Before the holidays, the Federal Reserve adjusted rates, and to stay aligned with market conditions, we’re updating our accounts. Starting on January 10, 2025, your account(s) will earn a variable interest rate of 4.31% with an annual percentage yield (APY*) of 4.40%.

  • Primis down to 4.4% (from 4.75%) for existing customer. Lower for new ones. Effective January 10.

    Also last week ForBright Bank went down from 4.6% to 4.25%.

  • Customers Bank Max Savings Account very small APY increase to 4.16% APY.

    At the MaxMyInterest site this morning, the Customers Bank Max Savings Account APY is now listed as 4.16% APY, up from 4.11% APY. This very small increase is not yet reflected inside Customers Bank online banking under the Details of one's Max Savings account as I write this. I expect it will be reflected eventually, assuming the 4.16% number at the MMI site remains. 

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