- The average rate for the best high -yield saving accounts is 4.15% Apy.
- The savings rates were stable last week.
- We do not recommend waiting if you want to earn interest at today's prices, as annual percentage yields could fall.
We watched rates for Best High Yield Saving Accounts For a while now. The best rates are still over 4% annual percent yield or apy, but all eyes are on where the savings rates will go next.
Prices for some of the best accounts held stable last week, as the Federal Reserve left the range of federal funds for January only. Historically, when the Fed raises or reduces interest rates, banks do the same for borrowing and saving.
While no one knows about where the rates are directed next, there is still time to use the current apy. We do not recommend waiting – it can mean to miss interest. Here's closely to the best savings rates and banks offering them.
Today's best savings rates
| Bank | Apy* | Min. deposit to open |
|---|---|---|
| Caution | 5.00%** | 0 $ |
| Bankutek Bank | 4.70% | 0 $ |
| LendClub | 4.50% | 0 $ |
| Buck Bank | 4.50% | 0 $ |
| Ererbank | 4.40% | 0 $ |
| Synchronous bank | 4.10% | 0 $ |
| Laurel Road | 4.00% | 0 $ |
| American Express | 3.80% | 0 $ |
| Capital one | 3.80% | 0 $ |
Experts recommend comparing rates before austerity account is opened to get the best possible apy. Enter your information below to get the best rate of CNET partners for your area.
How to save savings with high -yield savings account
Starting to save your goal in the New Year can be huge, especially if you are thinking about which new account to open. Money coach and money expert for money Bernadette joy Share some tips to help you adhere to your goal.
“Start by naming your account of something important, such as” peace of mind “or” dream fund, “Oyoy said. “It's a psychological hack that facilitates staying motivated.”
Breaking the target into smaller pieces can make it manageable. For example, if you are aiming to save 1,000 USD, you can start by separating 200 USD per month. If you put the money on a high -yield saving account, you will earn interest, which can help you achieve your goal faster.
Joy also recommends gluing with a high -yield saving account that does not charge a monthly subscription or requires a minimum balance.
– You can earn APY up to 4.65% on the best CD. Check Today's prices.
Average saving rates from week to week
| Last week cnet average saving savings* | This week average saving this week's savings | Weekly change |
|---|---|---|
| 4.16% | 4.15% | -0.24% |
What to look for when choosing a high -yield saving account
Since credit unions and banks only online are likely to offer high -yield savings accounts, it can change the way your savings is managed. For example, some banks alone do not accept cash deposits and may not have physical assistance locations. Here are some other factors to consider when opening Hysa.
- Account Requirements: Some Hysa require a minimum amount to open an account, usually between $ 25 and $ 100. Others have no minimum. You need to be aware of balance requirements to make sure your account stays in good condition and continues to earn interest.
- Access to ATM: Not every bank offers cash deposits and withdrawals. If you need regular ATM access, make sure your bank provides ATM fees or a wide range of ATMs in the network, said Lanesha Moip, founder of a polished CFO and another member of the CNET expert.
- Taxi: Watch out for monthly maintenance, withdrawal and paper statements, Moip said. The charges can eat in your balance.
- Availability: If you prefer personal help, look for a bank with physical branches. If you are comfortable managing your money digitally, think of an internet bank.
- Withdrawal limits: Some banks charge a surplus compensation if you make more than six monthly withdrawals. If you may need to do more, consider a bank without this limit.
- Security and security: Make sure your bank is insured with Federal Deposit Insurance Corporation – or the National Credit Union Administration for Credit Unions. In this way, your money is protected up to 250,000 USD per account holder by category, if the bank fails.
- Customer Service: Select a bank that fits and facilitates help with your account if you need it. Read customer reviews online and contact the bank customer service to get a sense of working with the bank.
Methodology
CNET reviewed the accounts for saving more than 50 traditional and online banks, credit unions and financial institutions with services at national level. Each account received a result between one (lowest) and five (highest). The austerity accounts listed here are up to $ 250,000 per person, by an account category, by institution, by FDIK or NCU.
CNET evaluates the best savings accounts using a set of established criteria compared to annual percentage yields, monthly fees, minimum deposits or balances and access to physical branches. None of the banks on our list charge monthly maintenance fees. The account will be ranked higher to offer any of the following perks:
- Account bonuses
- Automated Saving Features
- Consulting for wealth management/training services
- Deposits for cash
- Wide networking networks and/or ATM discounts for use outside the network
The savings account can be rated lower if there is no easy to navigate website or if it does not offer useful features as an ATM card. Accounts that impose limiting residence requirements or fees to overcome monthly transaction restrictions may also be lower.
*Apys as of January 31, 2025, based on the banks we follow at CNET. Weekly percentage increase/decrease from January 20 to January 27, 2025.
** Varo offers 5% apy only on balances to less than $ 5,000.