Opening a high-yield savings account is the number one money tip we've been giving our friends and family in 2024. To make the search easier, we created this shortlist of standout picks from our partners.
These online banks offer high-interest savings accounts paying many times higher than the national average of 0.45% and all are FDIC insured.
Member FDIC.
| Offer | APY | Minimum to Earn APY | Rating | Promotion | Next Steps |
|---|---|---|---|---|---|
 2024 Award Winner
SoFi Checking and Savings
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!
|
Offer Alert
New customers can earn up to a $300 bonus with qualifying direct deposits!
|
Citizens Access® Savings
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.50%
Min. to earn: $0.01
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0.01
|
N/A
|
|
American Express® High Yield Savings
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.25%
Rate info
4.25% annual percentage yield as of July 1, 2024
Min. to earn: $1
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$1
|
N/A
|
|
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.36%
Rate info
5.36% annual percentage yield (APY) is accurate as of 6/17/2024 and subject to change at the Bank’s discretion. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn: $500 to open, $0.01 for max APY
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$500 to open, $0.01 for max APY
|
N/A
|
|
UFB Secure Savings Account
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.25%
Rate info
To ensure you keep getting the highest rate at UFB, you'll need to keep an eye on their rates. Occasionally, the bank launches new accounts with higher rates. Existing accounts need to contact the bank to request being moved to one of these new accounts.
Min. to earn: $0
|
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$0
|
N/A
|
|
2024 Award Winner
CIT Platinum Savings
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
5.00% APY for balances of $5,000 or more
Rate info
5.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
|
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$100 to open account, $5,000 for max APY
|
N/A
|
TIP
Are these accounts insured?
All of the accounts listed are FDIC-insured by the US government, so your money in these accounts is guaranteed safe up to at least $250,000 per depositor, per ownership category.
Member FDIC.
2024 Award Winner
SoFi Checking and Savings
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
Offer Alert
New customers can earn up to a $300 bonus with qualifying direct deposits!
APY
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. To Earn APY
$0
- Competitive APY on both Savings and Checking
- No account fees
- Welcome bonus up to $300 (direct deposit required)
- Early access to direct deposits
- Tools to help you track savings goals
- Unlimited number of external transfers (up to daily transaction limits)
- ATM access
- FDIC insured (up to $2M with opt-in to SoFi Insured Deposit Program)
- Combo account only; no stand-alone savings or checking
- Maximum Savings APY requires direct deposit
- Overdraft protection requires monthly direct deposit minimum
- No branch access; online only
For those who plan to set up direct deposit with their new account, we think SoFi Checking and Savings is hard to beat. Not only does this savings account offer a strong APY, but the linked checking account earns above-average, too — which is a rare perk. Plus, there’s the opportunity for an up to $300 bonus and a long list of extra account features. Frankly, it’s the kind of combo that could make it worthwhile to switch banking relationships.
You can earn the maximum APY either by making direct deposits into checking or savings, or by depositing $5,000 or more every 30 days. Learn more.
Citizens Access® Savings
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor- Competitive APY
- No account fees
- Unlimited transfers and withdrawals
- FDIC insured
- No wire transfers (inbound or outbound)
- No checking account offered at same bank
- No ATM access
- No branch access; online only
Citizens Access® Savings offers a highly competitive APY and most of the features you'd expect from a reputable online savings account. Beware that wire transfers are not permitted — which may be inconvenient if you plan to pay a mortgage down-payment or closing costs from this account. Otherwise, funds should be easy to access through online transfers.
American Express® High Yield Savings
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
APY
4.25%
Rate info
4.25% annual percentage yield as of July 1, 2024
Min. To Earn APY
$1
- Competitive APY
- No account fees
- Comfort of a well-known brand and reputation
- Unlimited number of external transfers (up to daily transaction limits)
- 24/7 customer support
- FDIC insured
- No ATM access
- No branch access; online only
American Express High Yield Savings may not have the highest APY on our list, but it still offers a rate well above average and requires no minimum deposit to qualify for the highest APY. It's a good fit for those who want to save at a competitive rate while avoiding withdrawal limits or minimum balance requirements.
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
APY
5.36%
Rate info
5.36% annual percentage yield (APY) is accurate as of 6/17/2024 and subject to change at the Bank’s discretion. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. To Earn APY
$500 to open, $0.01 for max APY
- Competitive APY
- No monthly account fee
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured
- Deposits and withdrawals can only be conducted via ACH transfer to/from an external bank account (limit to one linked account)
- No ATM access
- No wire transfers (inbound and outbound)
- No branch access; online only
Western Alliance Bank offers a higher APY than most high-yield savings accounts. Plus, it's FDIC insured; therefore, deposits are perfectly safe up to applicable legal limits. The main drawback is that accounts don't have many features. For example, you can only deposit and withdraw funds via ACH transfer to/from an external bank account. This account is solid for those who want a sky-high APY, but don't mind a bare-bones banking experience.
Open a Western Alliance Bank High-Yield Savings Premier Account
UFB Secure Savings Account
Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
APY
5.25%
Rate info
To ensure you keep getting the highest rate at UFB, you'll need to keep an eye on their rates. Occasionally, the bank launches new accounts with higher rates. Existing accounts need to contact the bank to request being moved to one of these new accounts.
Min. To Earn APY
$0
- Competitive APY
- No account fees
- Unlimited number of external transfers (up to daily transaction limits)
- ATM access
- 24/7 customer support
- FDIC insured
- Existing accounts not always automatically given the highest rates
- No branch access; online only
UFB Secure Savings Account is an overall great account with a high APY and no monthly maintenance fees. Plus, a complimentary ATM card and large fee-free ATM network makes your money surprisingly accessible for a savings account.
Note that UFB sometimes launches new account names with higher APYs. Existing account holders do not automatically get these higher rates and need to contact the bank and ask to switch to the new account with the higher APY.
2024 Award Winner
CIT Platinum Savings
Member FDIC.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
![]()
![]()
![]()
![]()
![]()
= Best
![]()
![]()
![]()
![]()
= Excellent
![]()
![]()
![]()
= Good
![]()
![]()
= Fair
![]()
= Poor
= Best
= Excellent
= Good
= Fair = Poor
APY
5.00% APY for balances of $5,000 or more
Rate info
5.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. To Earn APY
$100 to open account, $5,000 for max APY
- Competitive APY
- No account opening or maintenance fees
- Unlimited number of external transfers (up to daily transaction limits)
- Interest compounds daily so your money can grow a bit faster
- FDIC insured
- Balance requirement for maximum APY
- No branch access; online only
CIT Platinum Savings is a no-frills high-interest savings account that offers one of the highest APY’s on the market today — as long as you can maintain a $5,000 minimum balance. Plus, customers can make an unlimited number of transfers and withdrawals each month (many savings accounts have a monthly limit).
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Synchrony Financial is an advertising partner of The Ascent, a Motley Fool company. American Express is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool has positions in and recommends Axos Financial, Bitcoin, Goldman Sachs Group, and Target. The Motley Fool recommends Barclays Plc and Discover Financial Services. The Motley Fool has a disclosure policy.