What is the best high-yield savings account?

The best high-yield savings accounts in general pay high rates, have no (or few) fees and have convenient ways to withdraw money. Some even provide automatic savings features and other ways to make savings easier. Some of the best high-yield savings accounts this month include Vio Bank’s Online Savings Account, Jenius Bank’s high-yield savings account and Bask Bank’s Interest Savings Account.

Are high-yield savings accounts safe?

High-yield savings accounts are safe if they’re offered at an FDIC-insured bank or a National Credit Union Administration (NCUA) credit union and within federal insurance limits and guidelines.

How much interest can I earn on $10,000 after a year in a high-yield savings account?

You can earn around $430 in interest in a year if you have $10,000 in a savings account that earns 4.20 percent APY. But in reality, savings APYs are variable and a savings yield might not stay the same for a year, as it did in this example.

What should I do if I am unable to open a high-yield savings account?

If you’re unsuccessful in opening a new account, you might want to go to ChexSystems’ website and request a report to see whether your banking history is the reason you were denied the account. ChexSystems is a national specialty consumer reporting agency that keeps track of some of your banking history. Things that can appear on a ChexSystems report include your check-cashing history, any suspected fraudulent activity and a list of closed accounts.

Do high-yield savings account rates change?

Yes, high-yield savings account rates do change. Competitive banks and credit unions have a tendency to adjust their interest rates based on the Federal Reserve’s rate moves. Unlike CD rates, which are locked for a set term, savings account yields tend to be variable, which means they could change at any time. A bank may decide to lower or raise savings account APYs for various reasons. It may increase its rate as part of a promotion to attract more deposits, or it may adjust rates in response to broader economic factors, such as changes to Federal Reserve monetary policy.

Can you take money out of a high-yield savings account?

Yes, you can take money out of a high-yield savings account, but many banks limit the number of times you can withdraw money in a month. Check with your bank to see its policy so that you’re not charged an excessive transfer fee. A bank could even close your account for excessive transactions. Unlike savings accounts, checking accounts are meant to have frequent withdrawals for spending money and paying bills and don't have limits on withdrawals.

Do you pay taxes on high-yield savings account interest?

The IRS specifically says that interest earned on bank accounts is taxable interest. If you earned $10 or more, you will receive Form 1099-INT. That form is usually generated toward the beginning of the calendar year, after you’ve earned more than $10 in interest during the previous tax year.

Best high-yield savings accounts of October 2025 (Up to 4.26%)

Written by

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Reviewed by

Expert verified

Updated October 29, 2025

At Bankrate we strive to help you make smarter financial decisions. Though our partners compensate us from links on this page, we maintain editorial integrity, and partners don't influence our product evaluations. Here's how we make money and here is our advertiser disclosure.

A high-yield savings account can be a safe place to earn interest on your money while keeping it easily accessible for emergencies and planning for economic downturns, such as a possible recession. Today's top savings rate is 4.26 percent offered by Vio Bank, which is around seven times the current national average of 0.63 percent APY. In addition to a high APY, the best high-yield savings accounts don’t charge fees and have low minimum deposit requirements. The accounts on this list are Bankrate’s highest-rated savings accounts from FDIC banks or NCUA credit unions.

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Table of contents

Best high-yield savings accounts
Recent news on high-yield savings account rates
The competition: Other high-yield savings accounts you can consider
How to choose an online high-yield savings account
What to know about high-yield savings accounts
Pros and cons of high-yield savings accounts
Alternatives to high-yield savings accounts
High-yield savings FAQs
Research methodology

Best high-yield savings accounts for October 2025

Note: APYs may have changed since they were last updated and may vary by region for some products. Bankrate only includes FDIC banks or NCUA credit unions in the editorial listings below.

Read review

Vio Bank

4.8 Bankrate savings score

Annual percentage yield

4.26%
Min. balance for APY

$0
Min. deposit to open

$100

Why Vio Bank?

Vio Bank offers only savings products — a savings account, a money market account and some CDs — and its rates are some of the best out there. With its Online Savings account, you’ll earn a great yield on your whole balance and pay no monthly fees.

Pros

You earn the APY on your whole balance.
No monthly fees.
Cons

You cannot open this account with a trust.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Vio Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Vio Bank APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/17/2025	4.26%	0.62%
10/07/2025	4.31%	0.62%
09/02/2025	4.31%	0.61%
08/05/2025	4.31%	0.58%
07/31/2025	4.31%	0.57%
07/15/2025	1.10%	0.57%
07/09/2025	4.31%	0.57%
07/01/2025	1.10%	0.57%
06/03/2025	1.10%	0.60%
04/01/2025	1.10%	0.59%
03/04/2025	1.10%	0.60%
02/04/2025	1.10%	0.61%
01/07/2025	1.10%	0.56%
10/29/2024	1.10%	0.57%

Read review

Zynlo Bank

4.7 Bankrate savings score

Annual percentage yield

4.20%
Min. balance for APY

$0
Min. deposit to open

$0

Why Zynlo Bank?

ZYNLO Bank is the online division of FDIC-insured PeoplesBank, a 135-year-old institution based in Massachusetts. Its Tomorrow Savings account earns a top-notch yield and doesn’t charge fees or require a set minimum balance. When savings account holders link a ZYNLO checking account, ZYNLO gives them the option to round up their debit purchases to the nearest dollar and then transfers that amount to savings. ZYNLO will match your round-ups, with the amount matched based on your balance after the first 100 days.

Pros

The account charges no monthly fees and requires no minimum balance.
Round-up savings feature available, with a match from the bank to boost your savings even more purchases rounded up to the nearest dollar and transferred to savings.
Cons

A ZYNLO checking account is required to take advantage of the round-up feature.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Zynlo Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Zynlo Bank APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/14/2025	4.20%	0.62%
09/02/2025	4.35%	0.61%
08/13/2025	4.35%	0.58%

Read review

Jenius Bank

4.7 Bankrate savings score

Annual percentage yield

4.20%
Min. balance for APY

$0
Min. deposit to open

$0

Why Jenius Bank?

Jenius Bank is an online-only bank that opened in 2023. It offers just one savings account, with a great APY. It’s best for customers who are comfortable solely banking online, as the bank doesn’t have branches or ATM access.

Pros

You won't pay fees at Jenius Bank.
There is no minimum balance required to earn interest.
Cons

ATM access isn’t available.
Residents of Hawaii and New Mexico can’t open an account.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Jenius Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Jenius Bank APY APY last updated 10/29/2025. APY last updated 10/29/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/14/2025	4.20%	0.62%
08/14/2025	4.20%	0.58%
03/12/2025	4.20%	0.60%
01/15/2025	4.50%	0.56%
01/03/2025	4.80%	0.56%
11/08/2024	4.80%	0.57%

Read review

Bread Savings

4.8 Bankrate savings score

Annual percentage yield

4.20%
Min. balance for APY

$100
Min. deposit to open

$100

Why Bread Savings?

Bread Savings is an online bank that offers a stellar high-yield savings account with a $100 minimum opening deposit. There's no monthly fee to have this account.

Pros

No monthly maintenance fees.
Cons

A paper statement will cost you $5 per request at Bread Savings.
A Bankrate staff member reported that opening a Bread Savings account was easy, taking them less than 10 minutes. The main reason for opening the account was the high annual percentage yield (APY) and no fees for withdrawals. While making their initial deposit while opening the account was easy, the staff member reported making additional deposits was difficult, requiring them to log into various bank accounts multiple times.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Bread Savings

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Bread Savings APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/21/2025	4.20%	0.62%
10/07/2025	4.25%	0.62%
09/02/2025	4.25%	0.61%
08/04/2025	4.25%	0.58%
07/15/2025	4.25%	0.57%
07/01/2025	4.30%	0.57%
06/03/2025	4.30%	0.60%
05/13/2025	4.30%	0.59%
04/29/2025	4.35%	0.59%
04/01/2025	4.40%	0.59%
02/03/2025	4.40%	0.61%
01/02/2025	4.50%	0.56%
11/27/2024	4.65%	0.57%

Read review

Peak Bank

4.9 Bankrate savings score

Annual percentage yield

4.20%
Min. balance for APY

$0
Min. deposit to open

$100

Why Peak Bank?

Peak Bank is a new online division of FDIC-insured Idaho First Bank, and its high-yield savings account earns a top-notch yield. It charges no monthly fees and requires a $100 minimum deposit to open. The bank's mobile app is actually the Idaho First app, but it receives favorable reviews.

Pros

The account charges no monthly fees.
Cons

You cannot send wire transfers from this account (though you can receive them).

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Peak Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Peak Bank APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/01/2025	4.20%	0.62%
09/02/2025	4.35%	0.61%
08/01/2025	4.35%	0.58%
07/01/2025	4.44%	0.57%
06/03/2025	4.44%	0.60%
05/01/2025	4.44%	0.59%
04/01/2025	4.54%	0.59%
03/07/2025	4.54%	0.60%
02/03/2025	4.35%	0.61%
12/05/2024	4.75%	0.57%

Read review

Openbank

4.7 Bankrate savings score

Annual percentage yield

4.20%
Min. balance for APY

$0.01
Min. deposit to open

$500

Why Openbank?

Openbank is a new digital subsidiary of Santander Bank. Openbank offers just one account — an FDIC-insured savings account that has a top-notch annual percentage yield (APY). There are no monthly fees, which is typical of online banks, but there is a minimum opening deposit requirement of $500.

Pros

There is no monthly maintenance fee.
Cons

The minimum deposit of $500 is on the higher side compared to some other online savings accounts.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Openbank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Openbank APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/07/2025	4.20%	0.62%
09/02/2025	4.20%	0.61%
08/05/2025	4.20%	0.58%
07/21/2025	4.20%	0.57%
07/01/2025	4.30%	0.57%
06/04/2025	4.30%	0.60%
06/03/2025	4.40%	0.60%
04/15/2025	4.40%	0.59%
03/05/2025	4.40%	0.60%
01/14/2025	4.75%	0.56%
12/17/2024	4.75%	0.57%
11/12/2024	5.00%	0.57%

Read review

BrioDirect

4.9 Bankrate savings score

Annual percentage yield

4.20%
Min. balance for APY

$25
Min. deposit to open

$5,000

Why BrioDirect?

BrioDirect's High-Yield Savings account offers a competitive yield, but it requires a steep minimum deposit of $5,000 to open. After you open the account, you can keep less money in it if you want, but you’ll need at least $25 to earn the bank’s high-yield savings APY. Note that BrioDirect doesn't offer any other accounts at this time.

Pros

There is no monthly maintenance fee for this account.
Cons

You need to keep at least $25 in the account to earn the APY.
Steep minimum of at least $5,000 is needed to open this account.
Your account may be closed if it doesn’t have money in it for 21 or more days.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

BrioDirect

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	BrioDirect APY APY last updated 10/29/2025. APY last updated 10/29/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/14/2025	4.20%	0.62%
10/06/2025	4.30%	0.62%
09/02/2025	4.30%	0.61%
08/06/2025	4.30%	0.58%
07/01/2025	4.30%	0.57%
06/03/2025	4.30%	0.60%
05/20/2025	4.30%	0.59%
05/05/2025	4.35%	0.59%
04/15/2025	4.45%	0.59%
04/01/2025	4.50%	0.59%
03/11/2025	4.50%	0.60%
03/04/2025	4.55%	0.60%
02/04/2025	4.55%	0.61%
01/28/2025	4.55%	0.56%
01/07/2025	4.75%	0.56%
12/24/2024	4.75%	0.57%
11/19/2024	4.85%	0.57%
10/29/2024	5.00%	0.57%

Read review

Rising Bank

4.7 Bankrate savings score

Annual percentage yield

4.10%
Min. balance for APY

$1,000
Min. deposit to open

$1,000

Why Rising Bank?

The Rising Bank High Yield Savings Account offers a competitive interest rate but a relatively high minimum opening deposit of $1,000. You'll also need to keep at least $1,000 in the account to earn the APY. There's no monthly service fee for this account.

Pros

The savings account doesn’t charge monthly maintenance fees.
Cons

There’s a fee for closing the account within 120 days.
You'll need at least $1,000 to open the account and earn the APY.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Rising Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Rising Bank APY APY last updated 10/29/2025. APY last updated 10/29/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/07/2025	4.10%	0.62%
09/22/2025	4.20%	0.61%
09/02/2025	4.30%	0.61%
08/05/2025	4.30%	0.58%
07/01/2025	4.30%	0.57%
06/10/2025	4.30%	0.60%
04/15/2025	4.30%	0.59%
04/01/2025	4.40%	0.59%
03/04/2025	4.40%	0.60%
02/04/2025	4.40%	0.61%
01/07/2025	4.40%	0.56%
10/29/2024	4.50%	0.57%

Read review

Bask Bank

4.5 Bankrate savings score

Annual percentage yield

4.05%
Min. balance for APY

$1
Min. deposit to open

$0

Why Bask Bank?

Bask Bank’s Interest Savings account offers a highly competitive yield, doesn’t require a minimum opening deposit and doesn't charge a monthly fee.

Pros

There is no minimum balance requirement or monthly service fee.
Cons

You’ll need to fund your Bask Bank Interest Savings Account within 15 days of opening it; otherwise, the account could be closed.
A Bankrate staff member reported an overall positive experience with Bask Bank. They were drawn to the high yield, and opening an account took just about 10 minutes. Since opening the account, the Bankrate staff member has been able to easily check in on their annual percentage yield (APY) from time to time.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Bask Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Bask Bank APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/07/2025	4.05%	0.62%
09/18/2025	4.05%	0.61%
09/02/2025	4.15%	0.61%
08/26/2025	4.15%	0.58%
08/05/2025	4.20%	0.58%
07/01/2025	4.20%	0.57%
06/03/2025	4.20%	0.60%
04/22/2025	4.20%	0.59%

Read review

Popular Direct

4.4 Bankrate savings score

Annual percentage yield

4.05%
Min. balance for APY

$0
Min. deposit to open

$100

Why Popular Direct?

Popular Direct's Exclusive Savings account earns an attractive rate and requires a $100 minimum opening deposit. There's no monthly service fee, although you'll be charged a $25 fee if you close the account within 180 days of opening it.

Pros

Like with many online banks, there's no monthly service fee.
Cons

Accounts closed within 180 days are charged a $25 fee.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Popular Direct

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Popular Direct APY APY last updated 10/29/2025. APY last updated 10/29/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/07/2025	4.05%	0.62%
09/02/2025	4.10%	0.61%
08/26/2025	4.10%	0.58%
08/14/2025	4.05%	0.58%
04/01/2025	4.05%	0.59%
03/18/2025	4.10%	0.60%
03/11/2025	4.20%	0.60%
03/04/2025	4.30%	0.60%
02/18/2025	4.30%	0.61%
02/04/2025	4.40%	0.61%
01/28/2025	4.50%	0.56%
01/07/2025	4.60%	0.56%
11/19/2024	4.60%	0.57%
11/05/2024	4.65%	0.57%
10/29/2024	4.76%	0.57%

Read review

Axos Bank

4.3 Bankrate savings score

Annual percentage yield

4.00%
Min. balance for APY

$0
Min. deposit to open

$0

Why Axos Bank?

In addition to earning a competitive APY, Axos Bank’s Summit Savings account doesn’t require a minimum opening balance or charge monthly service fees. An ATM card is available upon request, and you’ll have fee-free access to more than 95,000 ATMs. But only six withdrawals are allowed from the account per month, and a $10 fee is charged for each additional one.

Pros

High APY.
No monthly fees.
ATM card available, which gives you access to a large, free ATM network.

Cons

$10 fee for each withdrawal above the maximum permitted limit of six.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Axos Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Axos Bank APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/07/2025	4.00%	0.62%
09/16/2025	4.00%	0.61%
09/02/2025	0.61%	0.61%
08/05/2025	0.61%	0.58%
07/01/2025	0.61%	0.57%
06/03/2025	0.61%	0.60%
04/01/2025	0.61%	0.59%
03/04/2025	0.61%	0.60%
02/04/2025	0.61%	0.61%
01/07/2025	0.61%	0.56%
11/12/2024	0.61%	0.57%
11/05/2024	4.86%	0.57%
10/29/2024	0.61%	0.57%

Read review

Forbright Bank

4.4 Bankrate savings score

Annual percentage yield

4.00%
Min. balance for APY

$0
Min. deposit to open

$0

Why Forbright Bank?

Forbright Bank’sGrowth Savings account stands out for its competitive yields on any balance. The account can be opened online, and there’s no minimum opening deposit requirement.

Pros

There’s no minimum opening deposit requirement.
Cons

The Growth Savings account doesn't come with ATM access.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Forbright Bank

APY

National average APY

How do we get this data?

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Forbright Bank APY APY last updated 10/28/2025. APY last updated 10/28/2025	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
10/14/2025	4.00%	0.62%
10/07/2025	4.25%	0.62%
09/02/2025	4.25%	0.61%
08/05/2025	4.25%	0.58%
07/01/2025	4.25%	0.57%
06/03/2025	4.25%	0.60%
04/01/2025	4.25%	0.59%
03/04/2025	4.25%	0.60%
02/04/2025	4.25%	0.61%
01/09/2025	4.25%	0.56%
01/06/2025	4.60%	0.56%
11/19/2024	4.60%	0.57%
10/29/2024	5.00%	0.57%

Recent news on high-yield savings account rates

On. Oct. 29, the Federal Reserve lowered its benchmark federal funds rate by a quarter of a percentage point, or 25 basis points. The federal funds rate is now at 3.75-4.00 percent, down from 4.00-4.25 percent. The Fed’s next rate-setting meeting is in December.

The decreased federal funds rate is likely to lead to lower APYs on savings accounts.

Right now, rates are still high and outpacing inflation by a wide margin. As of September 2025, the rate of inflation, year-over-year, is 3.0 percent, according to the Bureau of Labor Statistics' Consumer Price Index (CPI). The accounts on this list are earning upwards of 4 percent APY.

As the trend of interest rate cuts continues in the face of slowly rising inflation, savers will begin to see the yield they earn dwindle. Interest rates are expected to fall one percent by mid-2026, which may leave those without the most competitive savings yields treading water on an inflation-adjusted basis.
Stephen Kates, CFP, Financial Analyst | Bankrate

All that is to say, now remains a good time to take advantage of high yields on savings. And it’s not hard to find a high-yielding savings account, especially at an online-only bank. These banks also typically don’t require a set minimum balance or charge monthly service fees.

It's especially a good time to open a high-yield savings account if:

You’re not earning any interest – or you’re earning a low APY – in your current bank account.
You don’t have an emergency fund, or you have your emergency fund commingled with your checking account.

The competition: Other high-yield savings accounts you can consider

For our best high-yield savings account list, Bankrate's editorial staff selects the top ten highest-rated savings accounts with the highest (and easiest to earn) APY. But there are other accounts out there that might work for you, even if they didn't make our list. Here are a few strong options for you to consider:


LendingClub	The LevelUp Savings account has a stellar APY of 4.20 percent but you have to contribute at least $250 every month to your savings to earn it.
E*TRADE from Morgan Stanley	At 3.75 percent APY, E*TRADE from Morgan Stanley didn't make our top ten list, but it's still a great rate.
SoFi Bank	By meeting some requirements, you can earn a 3.80 percent APY here. Plus, you’ll automatically get a connected checking account that also earns interest, and you can organize your savings into “vaults.”
UFB Direct	The APY on UFB Direct's savings account is 3.76 percent — not quite as high as the banks that made our list — but consider it if you want easy access to your cash: it comes with an ATM card and access to more than 90,000 fee-free ATMs.
Varo Bank	You can earn 5 percent APY on up to $5,000 in your Varo savings account (but you have to meet requirements to get that rate).

BANKRATE EXPERT FAQ

What our industry experts are saying

Julian B. Morris, CFP

Principal and Founder, Concierge Wealth Management

High-yield savings accounts are a great addition to a financial plan because they offer liquidity and easy access. You can get a better rate than a traditional savings account or money in your checking account. It’s often the second layer of cash that we deploy above a checking account. After the Fed lowers rates, we could expect high-yield savings accounts to trend downward. However, they’re still a great solution for many because earning some money on $10,000, $50,000, or $250,000 in savings is better than earning none if it’s kept in a checking account.

Learn more: Bankrate's 2025 savings rates forecast

How to choose an online high-yield savings account

Below are a few important features to consider when searching for a high-yield savings account. When choosing, also take a look at Bankrate’s expert reviews of popular banks, many of which offer high-interest savings accounts.

The top three factors to look for when choosing a high-yield savings account are:

You want to earn a competitive APY on your money, so your savings can grow faster. That's because APY incorporates the effect of compounding. Essentially, you'll earn interest on your initial deposit as well as on the interest that accumulates over time.
Don't let a monthly service fee eat into your savings. Find an account that won't charge you this pesky fee.
Being able to withdraw your money easily is important, especially in an emergency. You may be able to take money out of your savings account at an ATM, using a peer-to-peer money transfer app or through an ACH transfer.

Learn more: How small savings can add up to big money

What to know about high-yield savings accounts

High-yield savings accounts' differentiating factor is that they earn a much greater APY than traditional savings accounts, which are commonly offered at brick-and-mortar banks. Traditional accounts often earn around 0.01 percent APY, while high-yield savings accounts are earning APYs upwards of 4 percent.

The APY can make a huge difference to your savings. If you leave $10,000 in a savings account that pays 4 percent APY for a year, you'll earn around $400 in interest. In a traditional savings account at 0.01 percent APY, you'll earn around one dollar.

Keep in mind savings accounts typically have a variable APY, which the bank can change at any time. For a guaranteed APY, consider a certificate of deposit (CD) instead. Or, a no-penalty CD might be a good option for you if you want both a fixed APY and access to your money without incurring a penalty.

Learn more: What is a high-yield savings account?

Who should get an online high-yield savings account?

Anyone can benefit from a high-yield savings account, regardless of their stage of life and their money-related goals. Here are a few examples of who might want to open one:

A high-yield savings account is the perfect place to build up a cushion for a rainy day. The APY will help your savings grow faster, and you'll have easy access to your cash in case of an emergency.

How to open a savings account

Before you dump your money into an account at your local bank, there are several steps you should take.

Learn more

Pros and cons of high-yield savings accounts

Savings accounts are a good place to set aside funds for many financial goals. Here are the pros and cons of online high-yield savings accounts, so you can make sure one is right for you.

Pros

Much higher APY than traditional savings accounts, growing your money faster.
Insured by the federal government at most institutions, meaning your money is safe.
Funds are easily accessible for emergencies.

Cons

Rates are variable and could fall.
Some banks restrict withdrawals/transfers to only six a month (and charge a fee for more).
Your money could get higher returns in an investment (but you’ll be opening yourself up to more risk).

Alternatives to high-yield savings accounts

CDs

CDs generally earn a fixed APY for a certain period of time. In exchange for the guaranteed return, you agree to leave your money locked away for the chosen term. With high-yield savings accounts, you deal with variable APYs in exchange for being able to take your money out whenever you want. High-yield savings accounts are better for emergency savings. The best CD rates are currently outpacing both high-yield savings accounts and inflation.

Money market accounts

A money market account is a savings account that sometimes offers check-writing privileges or debit card access. The best money market accounts currently pay rates on par with the best high-yield savings accounts, but may require higher opening minimums.

Checking accounts

Checking accounts are meant for your daily transactions — they're where you keep money that you're planning on spending. The best checking accounts don't have monthly fees and may pay you some interest, too.

Investments

Investments may offer higher returns than high-yield savings accounts, but have risks associated with them. You could lose all the money you invest, for example. Whereas FDIC-insured high-yield savings accounts are a safe place to keep emergency and other funds.

High-yield savings FAQs

The best high-yield savings accounts in general pay high rates, have no (or few) fees and have convenient ways to withdraw money. Some even provide automatic savings features and other ways to make savings easier. Some of the best high-yield savings accounts this month include Vio Bank’s Online Savings Account, Jenius Bank’s high-yield savings account and Bask Bank’s Interest Savings Account.
High-yield savings accounts are safe if they’re offered at an FDIC-insured bank or a National Credit Union Administration (NCUA) credit union and within federal insurance limits and guidelines.
You can earn around $430 in interest in a year if you have $10,000 in a savings account that earns 4.20 percent APY. But in reality, savings APYs are variable and a savings yield might not stay the same for a year, as it did in this example.
If you’re unsuccessful in opening a new account, you might want to go to ChexSystems’ website and request a report to see whether your banking history is the reason you were denied the account.

ChexSystems is a national specialty consumer reporting agency that keeps track of some of your banking history. Things that can appear on a ChexSystems report include your check-cashing history, any suspected fraudulent activity and a list of closed accounts.
Yes, high-yield savings account rates do change. Competitive banks and credit unions have a tendency to adjust their interest rates based on the Federal Reserve’s rate moves.

Unlike CD rates, which are locked for a set term, savings account yields tend to be variable, which means they could change at any time.

A bank may decide to lower or raise savings account APYs for various reasons. It may increase its rate as part of a promotion to attract more deposits, or it may adjust rates in response to broader economic factors, such as changes to Federal Reserve monetary policy.
Yes, you can take money out of a high-yield savings account, but many banks limit the number of times you can withdraw money in a month. Check with your bank to see its policy so that you’re not charged an excessive transfer fee. A bank could even close your account for excessive transactions.

Unlike savings accounts, checking accounts are meant to have frequent withdrawals for spending money and paying bills and don't have limits on withdrawals.
The IRS specifically says that interest earned on bank accounts is taxable interest. If you earned $10 or more, you will receive Form 1099-INT. That form is usually generated toward the beginning of the calendar year, after you’ve earned more than $10 in interest during the previous tax year.

Meet our Bankrate experts

Written by

Matthew Goldberg Matthew Goldberg

Former Senior Consumer Banking Reporter

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best high-yield savings accounts, we rated these institutions on their savings account’s APYs, monthly fees, minimum deposit requirements, access to funds and more.

The highest-rated savings accounts from broadly-available banks and credit unions, that also had the highest APYs, made our list. Learn more about how we choose the best banking products and our methodology for reviewing banks.

Alliant Credit Union, Ally Bank, Amerant Bank, America First Credit Union, American Airlines Federal Credit Union, American Express National Bank, Apple Bank, Axos Bank, Banesco USA, Bank of America, Bank of Hope, Bank5 Connect, BankPurely, BankUnited Direct, Barclays Bank, Bask Bank, BMO Alto, BMO Bank, Boeing Employees’ Credit Union, Bread Savings, BrioDirect, Capital One, CFG Bank, Charles Schwab Bank, Chase Bank, CIBC Bank USA, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Comerica Bank, Connexus Credit Union, Credit One Bank, Cross River Bank, Customers Bank, Delta Community Credit Union, Discover Bank, E*TRADE from Morgan Stanley, East West Bank, Emigrant Bank, Emigrant Direct Bank, EverBank, Fifth Third Bank, First Citizens Bank, First Internet Bank of Indiana, First National Bank of America, First Tech Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Frost Bank, Golden 1 Credit Union, Heritage Bank, Huntington National Bank, iGOBanking.com, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road, LendingClub Bank, Limelight Bank, Live Oak Bank, M.Y. Safra Bank, M&T Bank, Marcus by Goldman Sachs, Merrick Bank, Mountain America Credit Union, MySavingsDirect, Navy Federal Credit Union, NBKC Bank, North American Savings Bank, Northpointe Bank, Openbank, Patelco Credit Union, Peak Bank, Pentagon Federal Credit Union, PNC Bank, Popular Direct, Presidential Bank, Provident Bank, Quontic Bank, Quorum Federal Credit Union, Randolph-Brooks Federal Credit Union, Regions Bank, Ridgewood Savings Bank, Rising Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, SoFi, SouthState Bank, Star One Credit Union, State Employees' Credit Union, Suncoast Credit Union, Synchrony Bank, Synovus Bank, TAB Bank, TD Bank, Texas Capital Bank, The Federal Savings Bank, Third Federal Savings and Loan, Truist Bank, UFB Direct, Umpqua Bank, US Bank, USAA Bank, Valley Bank, Varo Bank, Vio Bank, VyStar Credit Union, WebBank, Webster Bank, Wells Fargo, Western State Bank, Zions Bank, ZYNLO Bank

Piggy bank representing a savings account, with title Best HYSA Rates

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Best high-yield savings accounts of October 2025 (Up to 4.26%)

Why choose Bankrate

Best high-yield savings accounts for October 2025

Vio Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Vio Bank?

Pros and cons

Rate history for Vio Bank's savings account

Zynlo Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Zynlo Bank?

Pros and cons

Rate history for Zynlo Bank's savings account

Jenius Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Jenius Bank?

Pros and cons

Rate history for Jenius Bank's savings account

Bread Savings

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Bread Savings?

Pros and cons

Our experience with Bread Savings's savings account

Rate history for Bread Savings's savings account

Peak Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Peak Bank?

Pros and cons

Rate history for Peak Bank's savings account

Openbank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Openbank?

Pros and cons

Rate history for Openbank's savings account

BrioDirect

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why BrioDirect?

Pros and cons

Rate history for BrioDirect's savings account

Rising Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Rising Bank?

Pros and cons

Rate history for Rising Bank's savings account

Bask Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Bask Bank?

Pros and cons

Our experience with Bask Bank's savings account

Rate history for Bask Bank's savings account

Popular Direct

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Popular Direct?

Pros and cons

Rate history for Popular Direct's savings account

Axos Bank

Annual percentage yield

Min. balance for APY

Min. deposit to open

Why Axos Bank?