--- title: 10 High-Yield Savings Accounts Now Offering APYs of 3% or Higher description: Online banks are raising high-yield savings account APYs, and it's easy for savers to earn interest rates of 3% or more. authors: - name: Mary Ellen Cagnassola role: Reporter url: https://money.com/author/mary-ellen-cagnassola/ bio: Mary Ellen (M.E.) Cagnassola is a former reporter at Money, where she covered Social Security, retirement, housing, and employment. Her work reflects her commitment to service and equity in consumer finance. education: Rutgers University, BA Journalism at_money_since: 2021 articles: 205 covers: - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes former_staff: true published: '2022-11-15T17:00:22.000Z' modified: '2026-09-29T20:30:43.000Z' section: Banking tags: - News - online banks word_count: 502 canonical: https://money.com/high-yield-savings-accounts-3-percent/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![LendingClub sign and logo at company headquarters in Silicon Valley](https://img.money.com/2022/11/News-Banks-Have-Savings-Accounts-APYs-Over-3.jpg) As the adage goes, a penny saved is a penny earned. But what if that penny could give you an even better return? Whether you’re paying for surprise car repairs, covering a medical expense or getting unexpectedly slammed with sky-high energy bills, money stashed in an [emergency fund](https://money.com/emergency-fund-too-small-inflation/) can bail you out of a bad spot. Luckily, right now is a great time to save: The Federal Reserve has been repeatedly hiking interest rates in the hopes of bringing down inflation, setting off a chain reaction that has resulted in [online banks](https://money.com/best-online-bank/) raising their own rates on [high-yield savings accounts](https://money.com/best-high-yield-savings-accounts/). Some financial institutions now offer annual percentage yields — or APYs — over 3%. Rates this high were unheard of earlier this year, when we were impressed that some online banks were raising saving account APYs from 0.5% to 0.6%. As you might expect from their name, high-yield savings accounts generally generate more in interest than traditional [bank savings accounts](https://money.com/best-savings-accounts/), so you're compounding more with every penny you put away. ## Concerned about a sluggish economy? A High-Yield Savings Account can help ### Everyone should have some cash savings on hand for emergencies and short-term financial goals. Why not have it work in your favor also? Click on your state and open a Discover®️ account today! [Open an Account Today](https://money.com/pr/c134bdb5051a?ap_referrer=%2Fhigh-yield-savings-accounts-3-percent%2F) With the national average APY on savings accounts coming in at a mere 0.21%, according to the Federal Deposit Insurance Corporation, high-yield savings accounts are even more appealing now than usual. (You can open a high-yield savings account at a brick-and-mortar bank, but online banks generally often offer higher savings rates, allowing you to grow the money you deposit faster.) ## High-yield savings accounts with APYs of 3% (or more) Looking for major returns? These FDIC-insured banks are all offering some of the highest interest rates — 3% or above — on high-yield savings accounts. - [UFB DIRECT](https://money.com/pr/e951157703c2?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3.26% APY Minimum deposit: None Monthly fees: None - [Bask Bank](https://money.com/pr/pe3d4bafc4b2?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3.6% APY Minimum deposit: None Monthly fee: None - [Upgrade](https://money.com/pr/c87bf9be5df0?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 4.14% APY Minimum deposit: None Monthly fees: None - [CIT Bank](https://money.com/pr/z7bf7534c63c?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 4.25% APY Minimum deposit: $100 Monthly fees: None - [Synchrony](https://money.com/pr/b9351542db63?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3.55%\* APY Minimum deposit: None Monthly fees: None - [Happen](https://money.com/pr/d929a682ea1e?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3.00% APY Minimum deposit: $100 Monthly fee: None - [Marcus by Goldman Sachs](https://money.com/pr/f87c4dc66507?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3% APY Minimum deposit: None Monthly fees: None - [SoFi](https://money.com/pr/o3a4f32fe650?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3% APY Minimum deposit: None Monthly fees: None - [Discover](https://money.com/pr/u11e87f7dc2b?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3% APY Minimum deposit: None Monthly fees: None - [Capital One](https://money.com/pr/u5095cbeadab?ap_referrer=https%253A%252F%252Fmoney.com%252Fhigh-yield-savings-accounts-3-percent%252F): 3% APY Minimum deposit: None Monthly fees: None Before you switch banks in search of a better payoff for your money, consider that the savings account APY is only part of the picture. For a full rundown of what banks offer, check out Money's new list of the [Best Online Banks](https://money.com/best-online-bank/) and our guide for [How to Choose a Bank](https://money.com/how-to-pick-a-bank/). *\*Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.* *Rates and APYs are subject to change. All information provided here is accurate as of May 19, 2023.* ## To prepare for a recession, you may want to boost your emergency fund ### Opening a Savings Account to start an emergency fund makes a lot of sense for moments like these. Click below to get started. [Open an Account](https://money.com/pr/p2f9ac9c4fcc?ap_referrer=%2Fhigh-yield-savings-accounts-3-percent%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/high-yield-savings-accounts-3-percent/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Banking", "item": "https://money.com/banking/" }, { "@type": "ListItem", "position": 3, "name": "High-Yield Savings Accounts", "item": "https://money.com/high-yield-savings-accounts/" }, { "@type": "ListItem", "position": 4, "name": "10 High-Yield Savings Accounts Now Offering APYs of 3% or Higher" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/high-yield-savings-accounts-3-percent/#webpage", "url": "https://money.com/high-yield-savings-accounts-3-percent/", "name": "10 High-Yield Savings Accounts Now Offering APYs of 3% or Higher", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2022-11-15T17:00:22.000Z", "mainEntity": { "@id": "https://money.com/high-yield-savings-accounts-3-percent/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/high-yield-savings-accounts-3-percent/#breadcrumb" }, "dateModified": "2026-09-29T20:30:43.000Z" }, { "@type": "NewsArticle", "headline": "10 High-Yield Savings Accounts Now Offering APYs of 3% or Higher", "articleSection": "Banking", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2022/11/News-Banks-Have-Savings-Accounts-APYs-Over-3.jpg", "width": 2880, "height": 1920, "caption": "News-Banks-Have-Savings-Accounts-APYs-Over-3%" } ], "author": [ { "@type": "Person", "name": "Mary Ellen Cagnassola", "url": "https://money.com/author/mary-ellen-cagnassola/", "@id": "https://money.com/author/mary-ellen-cagnassola/#author", "description": "Mary Ellen (M.E.) 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