Best High Yield Savings Accounts - up to 5.80% APY

(Reposting 4/10/24 with updates, please let me know what else needs an update)

Here’s a list of the best high interest savings accounts. Get up to 5.50% APY with a basic savings account or up to 5.80% with a basic CD. There are also accounts with requirements that pay even more. We don’t receive any commissions for any of these, and ALL banks are included in this list.

Contents

1 Best Basic Savings Rates
- 1.1 Other Basic Options
- 1.2 Alternative High-Yield Options
2 Best CD Rates
3 Best Business Savings Rates
4 Mega High-Interest (Nationwide)
5 Mega High-Interest (Regional)

Best Basic Savings Rates

Leaving money in a regular bank account will usually get you a terrible interest rate. With a little research, we can find accounts that offer competitive rates. These are all ordinary savings accounts with no hoops to jump through, and they are FDIC/NCUA insured up to $250,000 (please verify insured status for yourself with FDIC and with NCUA before using a bank or credit union).

Here are the best options available, rated in APY from highest to lowest:

MyBankingDirect – 5.55% APY savings
Poppy Bank – 5.50% premier savings (rate guaranteed for 3 months)(minimum $1,000)($25k monthly withdraw limit)
Western Alliance – 5.36% high yield savings (review)
Brio – 5.35% high yield savings (minimum $5,000 to open)
Brilliant Bank – 5.35% APY surge money market (minimum $2,000 to avoid fee)(see this comment)
Climate First Bank – 5.34% checking or money market (MM is guaranteed until June 1, 2024)
Ivy Bank – 5.30% savings ($2,500 minimum; nationwide except for CA)
Ivy Bank – 5.66% indexed savings account ($2,500 minimum; nationwide except CA)(review)
Vio Bank – 5.30% APY money market
TAB Bank – 5.27% savings
TotalDirectBank – 5.26% money market (balances $2,500-$500,000; not available in FL)
CFG Bank – 5.25% APY high-yield money market (must maintain minimum $1,000)
Dime – 5.25% Blue savings (not available in NY, CA)
Evergreen Bank – 5.25% high yield online savings
Newtek Bank – 5.25% savings
Jenius Bank – 5.25% savings
Fierce – 5.25% cash account (requires iOS app)($30 Swagbucks bonus)
UFB – 5.25% APY savings account (see this comment and this)
Republic Bank – 5.21% APY money market (minimum $2,500)(nationwide except IL, IN, WI, MI)
Upgrade – 5.21% APY everyday/premier/performance savings (minimum $1,000)(see this comment)
Modern Bank – 5.20% high yield money market (minimum $100,000)
PopularDirect – 5.20% APY savings (see this comment)
Comenity ‘Bread’ – 5.15% APY savings
EverBank (TIAA) – 5.15% APY yield pledge savings
Western State Bank – 5.15% APY money market (our review)
Pacific Western – 5.15% savings ($5,000 minimum)
Customers Bank – 5.14% savings ($25k minimum)(auto-adjusts with fed rate)
Credit Karma Savings – 5.10% APY (our review)
Public – 5.10% high yield cash account
Bask Bank – 5.10% APY savings (our review)
BMO Harris – 5.10% alto online savings (select markets)
Primis Bank – 5.07% APY savings and checking (review)
CIT Bank – 5.05% platinum savings
BankPurely – 5.05% APY money market (minimum $25,000)(see this comment)
Salem Five Direct – 5.01% APY eone savings (see this comment)
CIBC – 5.01% APY savings (minimum $1,000)
Betterment – 5.00% saving account (our review)(temporary .75% boost to 5.50%)
Quontic – 5.00% money market
Laurel Road – 5.00% high yield savings
Webull – 5.00% cash management account
Blupeak – 5.00% money market ($300 bonus)
mph – 5.00% savings
Dollar Savings Direct – 5.00% APY savings (see this comment)
Merchants Bank – 5.00% APY money market
One Finance – 5.00% savings ($5,000 minimum, $100,000 max)(review)
VirtualBank – 5.00% APY eMoney Market
Wealthfront – 5.00% APY cash account (signup bonus)
Lending Club Banking – 5.00% APY savings
Northern Bank Direct – 4.95% APY premier money market
NASB – 4.95% APY Interest Savings (check incognito) ($25,000 minimum) (see this comment)
Redneck Bank / All America Bank – 4.90% APY money market, up to $100,000 (review)
First Foundation – 4.90% APY money market
Wise – 4.85% interest feature
Valley Direct – 4.80% APY savings (12,000 MyPoints signup bonus)
Sallie Mae – 4.75% APY money market
Synchrony – 4.75% APY savings
Milli – 4.75% savings account (requires mobile app)
Styl Bank – 4.75% APY
FNBO Direct – 4.75% online savings
Vanguard – 4.70% Cash Plus account
Empower/Personal Capital – 4.70% APY cash account (our review)
PNC – 4.65% high-yield savings (select areas)
Usalliance – 4.65% APY high dividend savings
Prime Alliance – 4.50% savings (minimum $10,000)
Citizens Access – 4.50% APY savings account
U.S. Bank – 4.50% elite money market (minimum $25,000); valid through 6/13/23
Colorado Federal – 4.45% APY savings
Citibank – 4.45% APY savings (not available in all states) (our review)
Apple Card/Goldman Sachs – 4.40% savings (our review)
Marcus Bank – 4.40% APY savings
Live Oak Bank – 4.40% APY savings
Presidential Bank – 4.37% money market Advantage Checking ($25k-$250k)
Barclays – 4.35% APY savings
Mysavingsdirect – 4.35% APY savings (see this comment)
B1 Bank – 4.35% APY
Capital One 360 – 4.35% APY savings
Synchrony Paypal version – 4.30% APY savings
American Express – 4.30% APY savings account
Discover – 4.30% APY savings when signing up via this link (standard account 4.25%) (review)
Third Federal – 4.30% online savings plus (minimum $5,000)
SFGI – 4.26% APY savings
Ally Bank – 4.25% APY money market
Ally Bank – 4.25% APY savings
E*Trade – 4.25% APY savings
Elements Financial – 4.25% high yield savings ($10,000 minimum)
Mutual One – 4.07% premium savings
Fidelity Bank – 4.00% savings
First Foundation – 4.00% APY savings
Northpointe – 3.25% APY ($25,000 minimum to $3,000,000 maximum)
Alliant Credit Union – 3.10% APY savings
PenFed – 3.00% APY premium savings
Fidelity – 2.72% cash management account
T-Mobile Money – 2.50% APY savings for anyone (4% on up to $3,000 for T-Mobile customers; our review)
Chime – 2.00% savings
American Express – 1.00% APY checking account (our review)
Yotta – .00% savings (plus you get lottery earnings)

Other Basic Options

Maxmyinterest – 5.36% max savings (see this review first)
Climate First Bank – 5.34% 6-month no penalty CD
Robinhood – 5.25% APY for those with Gold membership ($5/month; our review)
My eBanc – 5.01% APY money market (minimum $100,000)
M1 Finance – 5.00% APY savings account ($95/year)(our review)
Morgan Stanley – 5.00% APY Preferred Savings Program
Merrill Edge Preferred Deposit – 4.92% savings (initial opening needs $100,000)
USAlliance – 4.80% 11-month no penalty CD
Marcus – 4.60% APY 13-month no penalty CD
SoFi Savings – 4.60% with monthly direct deposit of any amount (our review)
J.P. Morgan Premium Deposit – 4.40% ($100,000 minimum initial deposit)
Ally Bank – 4.25% 11-month no penalty CD (review)
Customers Bank – 2.00% APY checking (requires 2 bill payments, otherwise rate is 1%)
Current – 4.00% APY savings on balances up to $2,000/$6,000 (our review)
CIT Bank – 3.40% 11-month no-penalty CD

All of these rates will fluctuate over time, and we’re constantly updating this list. There is an advantage to a bank who has a proven track record of giving good interest rates since some of the top rates might be ‘bait-and-switch’ soon to be lowered. Banks like CFG, Discover, Marcus, Ally and some others have been known to offer competitive interest rates for many years. Their rates will also fluctuate but will likely always be a good rate. See also What’s The Best Simple High-Yield Savings Account?

Another thing to keep in mind is that while most banks automatically increase your rate as interest rates increase, some don’t. We wrote data points on which do and which don’t here. Keep that in mind when choosing a bank.

Most of these are savings accounts, with a few checking accounts mixed in. We wrote about options for getting a high yield on your checking account in this post.

Alternative High-Yield Options

Government Series I Bonds are currently offering 4.30%, you’re limiting to purchasing $10,000 annually (our review)
U.S. Treasury Bills (our review)
Brokerage Money market funds and Bond funds
U.S. Series EE Bonds
CD Annuities
Vanguard VMFXX – 5.26% (more options)
Fidelity SPAXX – 4.97% (more options)
Schwab SNVXX – 5.07% (more options)
Interactive Brokers – 4.83% for IBKR Pro (minimum $10,000)

Best CD Rates

Nationwide CD Offers:

11 Months or Less

Eagle Bank 5.60% 6-month CD (not in CA, NV, or VT)
Signature FCU 5.55% 3-month CD (join via ACC)
Newtek 5.55% 6-month CD
One American Bank 5.51% 5/11 month CD ($5k minimum)
Gateway First 5.50% 7-month CD
My eBanc 5.49% 6-month CD (minimum $50,000)
Jovia CU 5.30% 8-month CD ($5 to join)
Heritage Bank 5.30% 6-month CD
Quorum FCU 5.25% 7-month CD (join with ACC membership free)
Hanscom FCU 5.25% 6-11 month CD
Presidential Bank 5.25% 7-month CD
Blupeak 5.25% 9-month CD
Credit Human 5.25% 6-11 month CD (join via ACC)
Synchrony 5.15% 9-month CD
Bask Bank 5.15% 6-month CD
BMO Alto 5.15% 6-month CD
Everbank 5.15% 9-month CD
CIBC 5.11% 9-month CD
Brilliant Bank 5.10% 3-month CD
Elements CU 5.05% APY 8-month CD
Brilliant Bank 5.05% 9-month CD
Cit Bank 5.00% 6-month CD
America First 5.00% 6-11 month CD
Prime Alliance 4.95% 6-month CD
Interior FCU 4.54% 6-month CD (free to join via Wildlife Fed.)
M&T Bank 4.75% 8-month CD
Bellco CU 4.75% 6-month CD ($5 to join)
Alliant 4.75% 6-month CD
Chase 4.50-5.00% APY 2-Month CD ($100k Minimum for 5%) (review)
Ally Bank 4.40% 8-month CD

12-18 Months

Schwab up to 5.50% APY brokered CD 12-months (review)
Vanguard up to 5.30% APY brokered CD 6-18 months (review)
Fidelity up to 5.25% APY brokered CD 6-18 months (review)
Merchants Bank 5.92% flex CD 12/24/36 month (rate changes, tied to fed rate) (our review)
Amboy 5.38% variable rate 2-year CD

T Bank 5.50% 13-month CD
NexBank 5.40% 12-month CD (minimum $25,000)
State Bank of Texas 5.40% APY 12-month CD (minimum $50,000) (our review)
Alliant 5.40% 12-month CD
Bask Bank 5.40% 12-month CD
USAlliance 5.40% 12-month CD
CIBC 5.36% 13-month CD
First Internet Bank 5.36% APY 12-month CD
Brio 5.35% 12-month CD
Comenity ‘Bread’ 5.35% APY 12-month CD
Climate First Bank 5.34% 15-month flex CD
CFG 5.31% APY 12-month CD
Colorado Federal 5.30% APY 12-month CD
PopularDirect 5.30% APY 12-month CD ($10,000 minimum)
My eBanc 5.30% 12-month CD (review)
Quontic 5.30% 12-month CD
Seattle Bank 5.25% APY 12-month CD
CFG 5.31% APY 12-month CD
Limelight 5.20% 12-month CD
Live Oak Bank 5.20% 12-month CD
All in CU 5.12% 12-month CD (join with ACC membership)
Forbright 5.10% 12-month CD
Sallie Mae 5.10% 12-month CD
Blupeak 5.10% 12-month CD
LFCU 5.09% 1-year CD (join with $10 HOFLC)(see also this post)
Pacific Western Bank 7/13 month CD 5.05%
Consumers CU 5.00% 13-month CD
Marcus Bank 5.00% APY 14-month CD
Citizens Bank 5.00% APY 12-month CD
Alliant 5.00% 18-month CD
Andrews FCU 5.00% 12-month CD (join with $8 ACC donation or use code ANDREWS)
Capital One 5.00% 12-month CD
Barclays 5.00% 12-month CD
Salem Five Direct 5.00% 6-12 month CDs
Ivy Bank 5.00% 12-month CD
Quorum FCU 5.00% APY 15-month CD (new money only)
Connexus CU 4.96% APY 17-month CD (minimum $5,000)(join w/ $5 donation)
TIAA 4.90% APY 12-month CD
Discover 4.80% APY 12-month CD
Union Square CU 4.80% 12-month CD
Valley Direct 4.80% 12-month CD
Signature FCU 4.75% 12-month CD (join via ACC)
Modern Bank 4.75% APY 18-month CD
Inova FCU 4.75% 12-month CD (join with $5 Tru Direction membership)
Discover 4.70% APY 12-month CD
Ally Bank 4.65% 14-month CD
Cit Bank 4.65% 13-month CD
DCU 4.60% 12-23 month CD
PenFed CU 4.50% APY 12-month CD
Ally Bank 4.45% APY 9/18-month CD
American Express 3.75% APY 12-month CD
Citibank 2.71% APY 12-month CD

19+ Months

Best Business Savings Rates

U.S. Senate FCU (USSFCU) 5.18-5.28% APY 24-month CD (join with ACC membership free)
First Internet Bank – 5.06% APY 12-month CD
Credit Karma – 5.00% savings for Quickbooks customers
Wise business – 4.85%
Live Oak Bank – 4.00% business savings
TAB Bank – 4.00% money market
Lending Club Banking – 3.60% APY business savings (review)
[CT, MA, RI, PA] Owners Bank – between 3.50% and 5.01%
Newtek Bank – 3.50% business savings
NBKC Bank – up to 3.25% business CD
First Internet Bank – 3.25% APY money market savings ($4,000 minimum to waive fee)
Panacea/Primis – 3.00% business savings
Bluevine – 4.25% APY business checking (requires $100k and $5k spend to waive $95 fee)
Bluevine – 2.00% APY business checking (up to $250,000; requires receivables or debit spend)
NBKC Bank – 2.00% business money market
American Express Business – 1.30% APY checking account (up to $500,000; plus 30k bonus)
Paramount Bank – 1.10% business money market ($5,000 minimum to avoid fee)
Axos Bank – 1.01% APY business checking (up to $50,000)
Lending Club Banking – 1.50% APY tailored checking (review)
Newtek Bank – 1.00% business checking
Usalliance – rate varies from .05% to .60% depending on deposit amount
Axos Bank – .20% business premium savings

Mega High-Interest (Nationwide)

Aside from basic accounts offering competitive interest rates, there are ultra high-yield options which are more involved and take time and patience to deal with. Bear in mind, all of the best options have velocity limits, sometimes it’s $5k, $10k, $15k, or $20k. You’ll never be netting more than $1,000 in annual interest from any of these accounts, and it’s usually much less than that. Someone who is impatient or doesn’t have spare time would best use a standard high-interest savings account options and forget about the velocity-limited accounts.

Below you’ll find all mega high interest accounts which are available nationwide, and in the next segment we list the regional options.

More Restrictive Options:

Mega High-Interest (Regional)

Below are the regional accounts we’ve reviewed on the site. There are many more as well.

Maryland: First Financial FCU 6.09% 9-Month CD
Parts of Nebraska, Iowa: Metro CU 6.00% 13-month CD
Texas, Oklahoma: Union Square Credit Union 4.50% APY On Balances Up To $25,000
North Carolina, South Carolina, Virginia, Georgia, Tennessee: Truliant FCU 6.25% CD
Louisiana, Arkansas: CNext Bank 7.00% APY Checking Account On Up To $30,000
Ohio: Buckeye State Bank 5% APY On Balances Up To $15,000
Iowa: Advantage Credit Union 6% APY 12 Month CD
Parts of Texas: Keystone 6% on up to $50,000
Texas, Mississippi, Louisiana: Origin Bank Performance Checking: 6% APY, Balances Up To $40,000
Texas, Nevada, Michigan: InTouch Credit Union High Yield Checking Account – 6.17% APY On Balances Up To $30,000
Iowa, Nebraska, Minnesota, South Dakota: Iowa State Bank 3.25% APY on up to $25k
Arkansas, Indiana, Nevada, North Carolina, Ohio, Michigan: United Federal Credit Union: Ultra Checking Account – Earn 3% APY On Balances Up To $15,000
Maryland, Delaware: Destinations Credit Union: 3% Reward Checking Account, Up to $10,000
Wisconsin, Illinois: Landmark Credit Union 7.50% APY High Rate – Balances Of Up To $500
Virginia, North Carolina: Beacon Credit Union 5.05% APY On Balances Up To $2,500
Wyoming, Nebraska: Meridian Trust Federal Credit Union 3% APY On Balances Up To $15,000
Illinois, Iowa: South East National Bank 3% APY On Balances Up o $10,000
Arkansas, Mississippi: First Financial Bank 4.33% APY on Balances Up To $15,000 – Direct Deposit Not Required
Parts of Arizona, California: Meriwest Credit Union 2.50% savings account on up to $5k [must be opened within 30 days of joining]
Arizona Branches: Sunwest Credit Union 5.12% APY 12-Month CD (Unlimited)
California, Illinois, Missouri: First Bank 4.59% APY on up to $25,000

Maryland: Freedom Financial Credit Union 3% APY on balances up to $10,000
Michigan: First United Credit Union 4% APY + $50 Bonus ($10,000 Limit)
Michigan: Consumers Credit Union 4% APY
Michigan (nationwide?): Chief Financial Credit Union 5.00% APY – No Direct Deposit Required
Michigan: Arbor Financial CU 4% Checking On Balances Up To $15,000
Michigan: Financial Plus Credit Union 4.15% APY On Balances Up To $10,000
Michigan: Adventure Credit Union – 4% APY On Balances Up To $10,000
Michigan: Kellogg Community Credit Union 4% APY Checking Account On Balances Up To $15,000
Michigan: AAA High-Yield Checking – 2.85% On Balances Up To $10,000
Michigan: Dort Federal Credit Union 6.5% APY On Balances Up To $10,000
Minnesota: St Paul Federal Credit Union 4.99% On Balances Up To $20,000
Missouri: Legacy Bank & Trust i-Profit 4% APY on Up To $10,000
Missouri: Ozark Bank 3% APY Checking on Balances up to $10,000
Missouri: Hawthorn Bank 3.01% APY On Balances Up To $30,000

Nebraska: Liberty First Credit Union 3% APY On Balances Up To $30,000
In parts of New York: Solvay Bank 4% APY Checking on Balances up to $15,000
In New York: Apple Bank Youth (6-17) Savings Account: 3% APY On Balances Up To $10,000
Ohio: Bridge Credit Union 10% APY Account On Balances Up To $1,500 (Lots Of Monthly Requirements)
Oregon: Oregon Community Credit Union (OCCU) – 5.25% APY On Balances Up To $500 Ignite Savings Account
South Dakota: Reliabank Ultimate Checking – 3.51% APY On Balances Up To $25,000 – Direct Deposit Not Required
El Paso, Texas only: Evolve FCU Rewards ePriority Checking Account – 3% APY On Balances Up To $10,000
Texas: Neighborhood Credit Union 4.25% APY On Balances Up To $50,000 + $200 Bonus

Washington: STCU 5.09% APY on balances up to $500 with no requirements
Washington: Canopy Credit Union offering 6.17% APY on first $25k
Washington, Oregon, Idaho: Gesa 7.00% APY on $500 in Savings (no requirements) and $5,000 Checking (requirements) (our review)
Wyoming: WyHy FCU 3% APY SmartReturns Checking Account On Balances Up To $15,000 – Direct Deposit Not Required
Select counties: Uncle Credit Union 6% on up to $25,000 with qualifications (join via FFA)

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16.2K Comments

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oldest most voted

ShawntheShawn👈🏾 (@guest_1832315)

April 17, 2024 21:07

#1832315

First Service Bank has a personal or business premier money market account that offers 6.04% APY on up to $20,000. Not sure if it is nationwide.
https://firstservicebank.com/more/personal-and-business-premier-money-market

Roy (@guest_1832116)

April 17, 2024 13:08

#1832116

Just got an email from UFB Direct:
Ready to start earning up to 5.45% APY* on your UFB savings? To express our gratitude, we’re offering you up to a 0.20% APY** boost when you open a Freedom Checking account.

Roy (@guest_1832118)

April 17, 2024 13:10

#1832118

Roy

Nvm, it’s not worth the efforts based on their terms:

UFB Freedom Checking is a non-interest-bearing account. To receive the additional 0.20% Annual Percentage Yield (APY) on a UFB Savings or Money Market account owned by at least one owner of the checking account, you must complete the following:

Receive monthly direct deposits totaling $5,000 or more. Once completed, you will earn your first 0.05% rate bump and unlock the other interest-earning options.

Earn an incremental Freedom Boost of 0.10% on your corresponding savings or money market rate if your UFB Freedom checking average daily account balance exceeds $10,000 per month.

Earn an incremental Freedom Boost of 0.05% on your corresponding savings or money market rate by using your UFB Visa® Debit Card for a total of 10 approved transactions per month (min $3 per transaction).