When it comes to growing your money safely, high-yield savings accounts are a top choice. These accounts offer significantly better interest rates than traditional savings accounts, helping your money work harder without taking on investment risk.
Whether you’re saving for an emergency fund, a vacation, or just want to get more from your idle cash, a high-yield savings account can give your savings a serious boost. In this guide, we’ll break down the top 7 high-yield savings accounts of 2025, comparing their features, rates, pros, and cons—so you can find the best option for your financial goals.
What Is a High-Yield Savings Account?
A high-yield savings account is a type of savings account that offers much higher interest rates than those at traditional brick-and-mortar banks. While the average savings account may offer around 0.40% APY (Annual Percentage Yield), high-yield accounts often provide 4.00% APY or more.
These accounts are usually offered by online banks or financial institutions with fewer overhead costs, allowing them to pass the savings onto you in the form of better rates.
Benefits of a High-Yield Savings Account:
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Faster Growth: Your money earns more interest over time.
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Low Risk: Your funds are typically FDIC-insured up to $250,000.
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Accessibility: Easy access through mobile apps and online banking.
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No Market Volatility: Unlike investing, your balance won’t fluctuate.
How to Choose the Best High-Yield Savings Account
When comparing high-yield savings accounts, here are the key factors to look at:
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APY (Interest Rate): The higher the APY, the faster your savings grow.
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Fees: Avoid accounts with monthly maintenance fees or minimum balance fees.
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Deposit Requirements: Some accounts require a minimum deposit to open.
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Ease of Access: Look for user-friendly apps, online banking, and quick transfers.
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Customer Service: Good support can save you time and stress.
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FDIC Insurance: Ensure your money is protected up to $250,000.
Top 7 High Yield Savings Accounts of 2025
Here are the best options available this year, based on interest rates, fees, customer experience, and overall value.
1. SoFi High-Yield Savings Account
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APY: 4.60%
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Minimum Deposit: $0
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Monthly Fees: $0
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FDIC Insured: Yes
Why We Love It:
SoFi consistently ranks high for its all-in-one banking experience. With a 4.60% APY, zero fees, and no minimums, it’s a perfect option for beginners and experienced savers alike.
Perks:
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Get paid up to 2 days early with direct deposit.
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Easy access to budgeting and investment tools.
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Earn bonuses for referrals and deposits.
Drawbacks:
Requires a linked SoFi checking account to earn the full APY.
2. Marcus by Goldman Sachs
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APY: 4.50%
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Minimum Deposit: $0
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Monthly Fees: $0
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FDIC Insured: Yes
Why We Love It:
Marcus offers a reliable high-yield savings account with a competitive rate and the backing of a respected financial institution.
Perks:
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No minimum balance required.
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Easy-to-use mobile app and website.
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Helpful customer service.
Drawbacks:
No checking account option—limited to savings and CDs.
3. Ally Bank Online Savings Account
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APY: 4.35%
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Minimum Deposit: $0
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Monthly Fees: $0
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FDIC Insured: Yes
Why We Love It:
Ally Bank is a well-known name in online banking, offering great customer support and a suite of digital tools.
Perks:
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“Buckets” feature for organizing your savings goals.
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Round-up savings tool to help build your account automatically.
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24/7 customer support.
Drawbacks:
APY isn’t the highest available, but still strong.
4. Discover Online Savings Account
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APY: 4.30%
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Minimum Deposit: $0
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Monthly Fees: $0
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FDIC Insured: Yes
Why We Love It:
Discover is known for top-tier customer service and ease of use. The online savings account includes features many competitors overlook.
Perks:
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No fees for official bank checks, excessive withdrawals, or insufficient funds.
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Excellent mobile experience.
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Trusted brand with strong security features.
Drawbacks:
No ATM access for savings account.
5. Capital One 360 Performance Savings
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APY: 4.25%
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Minimum Deposit: $0
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Monthly Fees: $0
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FDIC Insured: Yes
Why We Love It:
Capital One blends the convenience of online banking with the option of in-person service at physical locations.
Perks:
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Integrated with Capital One’s ecosystem.
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Easy transfers between accounts.
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No fees or minimums.
Drawbacks:
No checking account tie-in bonus for savings interest rate.
6. American Express® High Yield Savings Account
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APY: 4.15%
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Minimum Deposit: $0
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Monthly Fees: $0
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FDIC Insured: Yes
Why We Love It:
Amex brings its excellent reputation in credit cards to banking, offering solid rates with a clean user interface.
Perks:
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Trusted financial institution.
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Easy to link with external accounts.
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No minimum or fees.
Drawbacks:
No checking account—limited to savings.
7. Barclays Online Savings Account
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APY: 4.35%
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Minimum Deposit: $0
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Monthly Fees: $0
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FDIC Insured: Yes
Why We Love It:
Barclays is a great no-frills savings option. It offers a simple, straightforward savings account with a strong APY and zero fees.
Perks:
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Solid interest rate.
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No minimums or fees.
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Reliable online platform.
Drawbacks:
No mobile check deposit or ATM access.
How Much Can You Earn With a High-Yield Savings Account?
Let’s compare a traditional savings account vs. a high-yield one:
| Starting Balance | Traditional Savings (0.40% APY) | High-Yield (4.50% APY) |
|---|---|---|
| $5,000 | $5,020 after 1 year | $5,225 after 1 year |
| $10,000 | $10,040 after 1 year | $10,450 after 1 year |
| $25,000 | $25,100 after 1 year | $26,125 after 1 year |
As you can see, the difference adds up quickly over time!
Tips to Maximize Your High-Yield Savings Account
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Automate Your Savings: Set up automatic transfers from your checking account.
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Avoid Withdrawals: Keep your money in the account to maximize compound interest.
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Shop Around: Rates can change—stay updated and switch if necessary.
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Use Savings Buckets: Some banks (like Ally) let you divide savings into categories.
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Link to Checking: Some accounts require a linked checking account for best rates.
Final Thoughts: Which High-Yield Savings Account Is Right for You?
The best high-yield savings account for you depends on your personal preferences and financial goals. If you’re looking for the highest APY, SoFi and Marcus are hard to beat. For those who value customer service and user experience, Ally and Discover are excellent picks.
Here’s a quick comparison:
| Bank | APY | Minimum Deposit | Monthly Fees | Mobile App | Standout Feature |
|---|---|---|---|---|---|
| SoFi | 4.60% | $0 | $0 | Yes | All-in-one banking suite |
| Marcus | 4.50% | $0 | $0 | Yes | Trusted brand, strong support |
| Ally | 4.35% | $0 | $0 | Yes | Savings buckets, round-ups |
| Discover | 4.30% | $0 | $0 | Yes | No hidden fees |
| Capital One | 4.25% | $0 | $0 | Yes | Online + in-person service |
| American Express | 4.15% | $0 | $0 | Yes | Simple, trusted brand |
| Barclays | 4.35% | $0 | $0 | Yes | Clean, no-frills experience |
Start Earning More Today
Your savings deserve to grow—faster. High-yield savings accounts are a simple way to earn more with zero risk. Pick one that aligns with your needs and start building your future, one interest payment at a time.
