Best Banks for High-Yield Savings Accounts for October 2025
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- What the Fed's Rate Cut Means for Savers, Investors, Homeowners and More
- American Precious Metals Exchange (APMEX) Review
- Using a 'Blended Income' Strategy Can Help Boost Your Retirement Cash Flow
- Does the Slump in Consumer Stocks Mean We're in a Bear Market?
- From Loans to Jobs, Here's How the Fed Rate Cut May Affect Your Wallet
- What the Fed's Rate Cut Means for Savers, Investors, Homeowners and More
- American Precious Metals Exchange (APMEX) Review
- Using a 'Blended Income' Strategy Can Help Boost Your Retirement Cash Flow
- Does the Slump in Consumer Stocks Mean We're in a Bear Market?
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.
SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time.
These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 1/24/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or overdraft fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing of the funding which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period means the 30 consecutive calendar days between the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. SoFi reserves the right to withdraw this benefit at any time, including instances of non-repayment of negative balances or misuse of the benefit. Please see full eligibility for Overdraft Coverage.
8. 0.70% Savings APY Boost
Earn up to 4.30% Annual Percentage Yield (APY) on Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change at any time. https://www.sofi.com/banking/#2. SoFi Bank, N.A., Member FDIC.
Earn 3.90% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 6/18/2025
* Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 01/13/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information. The APY for the Barclays Tiered Savings account for balance tiers greater than $250,000 are currently 10X the national average of 0.46% APY, based on the national average of savings account rates published in the FDIC's National Rates and Rate Caps, accurate as of 09/16/2024.
Earn 3.85% APY* with Platinum Savings
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With a Balance of $5,000 or More*
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Earn 0.25% APY with a Balance of Less than $5k*
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$100 Minimum Deposit to Open Account
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No Account Opening or Monthly Service Fees
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CIT Bank Account is FDIC Insured
*Rate as of 9/23/25
*For complete list of account details and fees, see our Personal Account disclosures
*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.
*APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
*Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
Earn 3.40% APY* with a Discover™ Savings Account
- Earn Over 5X the National Savings Average¹
- $0 Min. Balance to Earn APY
- $0 Monthly Fees & No Min. Opening Deposit
- No Overdraft Fees
- Deposits are FDIC-insured up to $250,000²
*Rates as of 9/30/2025
*The Annual Percentage Yield (APY) for the Online Savings Account as of 04/25/2025 is more than five times the national average APY for interest bearing savings accounts with a balance of $500 as reported by Curinos as of 04/25/2025. National average is based on information regarding the top 50 banks (by deposit size) and may not include information from variations in regional pricing at such banks or information from products that may not be widely available to their customers. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. APYs are subject to change at any time.
Enjoy hassle-free banking and earn 4.20% APY* with no more hidden fees.
- Enjoy free monthly maintenance
- Watch your savings grow with daily compounded interest.
- Deposit anytime, anywhere with unlimited mobile check deposits.
- Deposits are FDIC-insured up to $250,000
*Rate as of 10/10/2025
Whether you’re growing your emergency fund or saving for short-term goals such as a vacation or new car, it’s important to put your money somewhere where it’s easily accessible. But with interest rates so low on traditional savings accounts, you’re not likely to see that money grow much more than you would if you stuck it in a piggy bank.
High-yield savings accounts (HYSAs), on the other hand, offer annual percentage yields (APYs) that are much higher than traditional savings accounts. Read on for our list of banks and credit unions offering the best HYSA rates right now, as well as a guide on how these savings accounts work and how to choose the best one for you.
What to know about HYSA rates
- Variable rates: Banks and credit unions can change the APYs on HYSAs at any time. They tend to take cues from the Federal Reserve, which adjusts its benchmark interest rate to keep inflation under control and the economy growing at a steady pace.
- Interest rate vs. APY: The interest rate on a bank account is the percentage of interest you’d earn on money in the account while the APY is the total interest you’d earn on the account during one year with compounding. APY is the more commonly used figure.
- Not all banks: While banking giants like JPMorgan Chase and Bank of America offer a plethora of financial products, HYSAs generally aren’t among their offerings. As a rule of thumb, you’ll find the best APYs at online banks and credit unions that don’t have the overhead of running physical branches.
- Criteria: Some banks have high opening balance requirements or may require you to keep a certain amount in your HYSA to earn the advertised APY. In addition, some banks have tiered rates, with higher balances earning more.
How we chose our top picks
Our editors and writers collected the rates on roughly 60 HYSAs from some of the largest and most popular commercial banks, credit unions and online banks. While APY was the main factor we considered, we also assessed factors such as minimum opening balances and fees.
Read the full methodology to learn more.
*Rates and APYs are subject to change. All information provided here is accurate as of Oct. 14, 2025.
Our top picks for the best banks for high-yield savings accounts
The companies listed below are organized in descending order of APY.
- BrioDirect High-Yield Savings
- Openbank High Yield Savings
- LendingClub LevelUp Savings
- Bread Savings High-Yield Savings Account
- My Banking Direct High-Yield Savings Account
- Newtek Bank Personal High Yield Savings
- EverBank Performance Savings
- TAB Bank Save High Yield Savings
- Forbright Bank Growth Savings
BrioDirect High-Yield Savings Account
- APY
- 4.20%
- Minimum opening requirement
- $5,000
- Minimum balance for advertised APY
- $25
BrioDirect offers one of the highest-earning HYSAs on our list with a minimum deposit of $5,000 and a minimum balance of $25 to earn the top APY. The account, which is offered by a brand from the longstanding, Connecticut-based Webster Bank, is an ideal instrument for making the most of your savings. Its high-yield savings account boasts a strong APY and no monthly maintenance fees. Additionally, there are no limits on how many withdrawals you can make.
You can fund your account via transfer from an external bank; BrioDirect allows customers to link up to five accounts at one time. One big change since last year is that the online bank now offers mobile check deposits via its app. While there are no physical branches for in-person deposits, BrioDirect accepts checks for deposit by mail, as well as wire transfers.
Openbank High-Yield Savings Account
- APY
- 4.20%
- Minimum opening requirement
- $500
- Minimum balance for advertised APY
- $500
Openbank currently offers an APY that is 10 times the national average. That applies to all balance tiers with its HYSAs, and the accounts are fee-free. While you will need to open the account with at least $500, the bank claims on its website that you can get started in just five minutes.
As an online brand of Santander Bank, customers will not be able to visit a physical branch. However, Openbank does have a “click-to-call” feature for when you need to speak to a human. There are no debit cards or checks available with this account.
LendingClub LevelUp Savings
- APY
- 4.20%
- Minimum opening requirement
- $0
- Minimum balance for advertised APY
- $0
LendingClub may be best known for its personal loan offerings, but it also offers a highly competitive APY for its HYSA product. However, that advertised APY is only applicable if you meet the requirement of depositing at least $250 per month into your LevelUp Savings account. The account doesn't charge monthly maintenance fees, nor does it require a minimum opening deposit or a minimum account balance.
The bank still offers a competitive standard APY if you're unable to meet the $250 monthly deposit requirement. However, that APY is not among the best HYSA rates available today. On the plus side, the account comes with a free ATM card.
Bread Savings High-Yield Savings Account
- APY
- 4.20%
- Minimum opening requirement
- $100
- Minimum balance for advertised APY
- $100
With Bread Savings, you can earn a highly competitive APY on a wide range of balances with a $100 minimum deposit on up to a balance of $1 million. While there are no physical branches for this online-only bank, you can get customer service by phone seven days of the week.
There are no ATM or debit cards, but Bread Savings' high-yield accounts do not charge monthly maintenance fees and feature free incoming wire transfers and unlimited mobile check deposits. There is a $5 for paper statements, but online statements are available for download at no cost.
My Banking Direct High-Yield Savings Account
- APY
- 4.20%
- Minimum opening requirement
- $500
- Minimum balance for advertised APY
- $1
My Banking Direct, a digital-only service of Flagstar Bank, offers an attractive APY on its HYSA. You’ll manage your account with the highly rated Flagstar Mobile Banking app, and the account opening process takes just a few minutes, according to My Banking Direct’s site.
There’s a $500 minimum to open the account, but the minimum balance to earn the competitive APY is just $1. There are no monthly maintenance fees associated with this account. For more information, you can read our full review of My Banking Direct's HYSA here.
Newtek Bank Personal High-Yield Savings Account
- APY
- 4.35%
- Minimum opening requirement
- $0
- Minimum balance for advertised APY
- $0
Newtek Bank may focus on business banking, but it also has an HYSA that offers a very competitive APY. Additionally, the bank doesn't have minimum opening or minimum balance requirements, and the account provides interest at a rate 11 times the national average.
The federal government no longer requires banks to limit withdrawals from savings accounts to six per month but some banks still do — and Newtek is one of them. Plus, you cannot withdraw to multiple other banking or investment accounts; you can only withdraw to the original funding source. So overall, the withdrawal options are limited.
EverBank Performance Savings
- APY
- 4.05%
- Minimum opening requirement
- $0
- Minimum balance for advertised APY
- $0
EverBank's Performance Savings account doesn't offer one of the highest APYs on our list of Best Banks for High-Yield Savings Accounts, but the APY for its HYSA is still strong and will handily outperform those offered by traditional savings accounts. The account doesn't require a minimum balance, doesn't charge monthly maintenance fees and interest is compounded daily.
Unlike many of our top picks, Everbank does have brick-and-mortar branches, although they are only in Florida and California. Unlike some online banks that offer customer service seven days a week, Everbank doesn’t have service hours on Sundays, and its Performance Savings account is only available online or via phone.
TAB Bank Save High-Yield Savings Account
- APY
- 3.80%
- Minimum opening requirement
- $0
- Minimum balance for advertised APY
- $0.01
TAB Bank offers a HYSA with an attractive APY that is nine times the national average. There is no minimum opening requirement and the minimum balance to receive the advertised APY is just 1 cent. The account doesn't charge monthly maintenance fees and there are no balance caps.
If you’re looking for a bank that offers both a savings and checking account, TAB may be a good option for that, too, since its TAB Spend Rewards Checking account is interest-bearing and also doesn't charge maintenance fees. The bank offers limited customer service hours on weekends, with service only available 9 a.m. to 3 p.m Mountain Time Saturday and not at all on Sunday.
Forbright Bank Growth Savings Account
- APY
- 4.00%
- Minimum opening requirement
- $0
- Minimum balance for advertised APY
- $0
Forbright Bank's Growth Savings account offers a highly competitive APY on all balances that is 10 times the national average savings rate. It doesn't require a minimum opening deposit or a minimum balance requirement. The account also doesn't charge monthly maintenance fees, has no hidden fees and interest is compounded daily.
If you’re looking for human interaction, however, you’ll want to look elsewhere. While Forbright has branches in Maryland and Virginia, the HYSA is a digital-only product.
Other HYSAs we considered
We assessed many HYSAs that ultimately did not make our list. Below are several companies that were not named on our list but have attractive APYs and may be a fit depending on your needs.
SoFi
SoFi’s HYSA has a competitive 3.80% APY with no monthly maintenance fee or minimum balance. The online bank offers a hybrid savings and checking account option, so when you open a SoFi savings account, it will automatically open a checking account in your name. SoFi’s account is a solid option for savers, but its advertised APY is only good for up to six months.
Bask Bank
Bask Bank offers an HYSA with a competitive APY and no minimum balance requirement or monthly fees. There’s also no minimum to open the account, though you’ll need to fund the account within 15 days or it will be closed. The APY on its Interest Savings account is below the winners on this list.
CIT Bank
CIT Bank’s Platinum Savings account has no monthly maintenance fee and strong — albeit not among the best — APY for its HYSA. However, that APY only applies to balances of at least $5,000. Balances below that earn a significantly lower amount.
Best HYSA rates FAQs
What is a high-yield savings account?
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What are the highest HYSA rates?
How we chose the best banks for high-yield savings accounts
To find the best HYSAs, we collected rates from around 60 of the largest and most popular banks, credit unions and online banks. We not only compared the advertised APY but also how much of your balance that APY would apply to. For example, there were some institutions with APYs higher than what we included on our list, but that only applied that yield to the first $1,000. We also excluded some credit unions with limited eligibility. We only included HYSAs that came with no monthly maintenance fees.
While APYs were our main focus, we also collected information on the accounts’ minimum opening deposits, minimum balances required to earn the advertised APY and fees. All of the banks we included are FDIC-insured. To identify the best high-yield savings accounts, we evaluated more than 50 banks, credit unions, online banks and other financial institutions.
You can read our full methodology here.