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A high-yield savings account is a great option if you are looking for a way to save money for your short-term goals.
Guide to the best savings accounts Best high-yield savings accountIf you are looking for bank accounts that offer unique perks and features, these can be great places to start your search. If you are looking for the best rates, this list may be right for you.
Compare savings account rates
What are today’s interest rates for savings accounts?
The FDIC monitors national rates for interest-earning banks accounts. The average interest rate paid right now by savings accounts is 0.17% APR.
To ensure that we are up-to-date on their rate offerings, we have been looking at a number of financial institutions. Because online institutions are more likely to offer high yield bank accounts, our list contains accounts with higher interest rates that the national average.
Right now, the most competitive high-yield savings account pays up to 2.61% annual percentage yield. Interest rates are subject to change. Savings accounts can have variable interest rates which means they can fluctuate at any moment.
Federal Reserve The federal funds rate was increasedThis year’s savings interest rates have increased several times. They are expected to continue increasing throughout 2022.
September 19, 2022: Highest savings rate
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Maintain at least $25 in your bank account.
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Opening an account with minimum $100
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Opening an account with minimum $100
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Opening an account with minimum $1,000
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Opening an account with minimum $100
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Opening an account with at most $5,000
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Opening an account with minimum $100
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The best savings account interest rates
Annual Percentage Yield
Up to 2.61% APY
Minimum Deposit Amount
$0
Annual Percentage Yield
APY up to 2.61%
Minimum Deposit Amount
$0
Deposit Details
Annual Percentage Yield
Up to 2.61% APY
Minimum Deposit Amount
$0
Pros & Cons
Highlights
UFB Rewards SavingsThis is the list’s highest interest rate. UFB Rewards Savings could be worthwhile if you’d like easy access to your account — the savings account comes with an ATM card.
Bask Bank could be a good fit if you’d like to open an account with $0. You should keep in mind, however, that this online bank does not offer any savings. Two types of savings account. Other financial institutions are worth considering if you are looking for a checking or CD account.
Synchrony offers a high-yield savings account that requires a minimum $0 opening deposit. The Synchrony Savings Account with High Yield might be a deal if you prioritize strong customer support— it has 24/7 telephone and live chat customer service.
The BrioDirect High-Yield Savings accountIf you can keep at least $25 per day in your account, this may appeal to some.
The Bread Savings and High-Yield Savings AccountMinimum $100 deposit required. Bread Savings might be familiar to you, but Comenity Direct is something you may not have heard. Comenity Direct has recently been rebranded as a result of its Bread Financial, the parent company, has expanded to offer lending options.
If you are looking for other accounts to go with your high-yield savings account, LendingClub or CIT Bank, TAB Bank or Quontic Bank might be a good option.
LendingClub offers a solid cash back checking account and Quontic offers a variety of rewards checking accounts. The LendingClub High Yield Savings Account Quontic High Yield Savings accountBoth require a minimum deposit of $100.
TAB Bank offers competitive rates for CDs and a high-yield savings account. TAB Bank does not have an ATM network so if you use any ATM the bank will charge a fee.
CIT Bank may be a good option if you are looking for money market accounts or CDs. CIT Bank offers the following: unique promotional offerThrough its money market account the bank offers many CD options.
The Citizens Online Access Savings AccountAnother great savings account with high yield is the one offered by Investing in America. You’ll need at minimum $5,000 to open an account.
The CIBC Agility AccountIt is a high-yield savings account that offers good returns, provided you have at minimum $1,000. CIBC Bank USA, the US division of Toronto’s Canadian Imperial Bank of Commerce, is located in the USA. CIBC Bank USA provides an online savings account and CDs which you can open anywhere in the US. If you reside in Illinois, Michigan or Missouri, you can also open money market and checking accounts online.
