Best Banks for High-Yield Savings Accounts for October 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
• CIBC Agility High-Interest Savings Account

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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.

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