According to Business Insider
High-yield savings accounts are a good place to keep emergency money or savings for things you want to accomplish in a short timeframe.
The Federal Reserve recently cut interest rates in December, which could influence national savings rate declines. That said, high-yield savings accounts are still worth opening regardless of market conditions because they pay more than traditional savings accounts.
We report on the highest-yielding savings account rates currently available. We’ve listed the highest interest rates for savings accounts, as well as two high-yield accounts from popular national brands (Barclays and Valley National Bank). All of the banks and credit unions listed offer at least 4.65% APY (Annual Percentage Yield), significantly higher than the national average.
Featured Nationally Available Deposit Rates
Open a new bank account or cash management account and earn best-in-class rates.
| Account Name | APYs (Annual Percentage Yields) are accurate as of 12/27/2024 | Minimum Account Opening Balance |
| LendingClub LevelUp Savings Account | up to 4.75%* | $0 |
| BrioDirect High-Yield Savings Account | 4.75% | $5,000 |
| Barclays Tiered Savings | up to 4.65%** | $0 |
| CIT Bank Platinum Savings | 4.35% (with $5,000 minimum balance)*** | $100 |
| Quorum HighMarq Savings | up to 4.50% | $0 |
| SoFi Checking and Savings (Member FDIC) | up to 4.00%***** | $0 |
| Discover® Online Savings Account | 3.75% (as of 12/18/24) | $0 |
Best Online High-Yield Savings Accounts
The best high-interest savings accounts will have a strong interest rate, good perks, and national accessibility. The top options also offer no monthly maintenance fees and low minimum opening deposits.
Many of the best banks and credit unions for high-yield savings accounts are online. Our top picks for savings accounts are federally insured by the FDIC or NCUA. Federal insurance protects up to $250,000 per depositor in the event of a bank failure.
Best Savings Account Rates
Here are the best high-yield savings accounts as picked by Business Insider editors in 2024.
- DCU Primary Savings Account: 0.05% to 6.17% APY
- Pibank Savings: 5.00% APY
- Jenius Savings Account: 4.80% APYBrioDirect High-Yield Savings Account: 4.75% APY
- Openbank High Yield Savings: 4.75% (vary depending on location) APY
- LendingClub LevelUp Savings Account: up to 4.75% APY
- Primis Savings Account: 4.70% APY
- Newtek Bank Personal High Yield Savings Account: 4.70% APY
- My Banking Direct High Yield Savings Account: 4.65% APY
- Barclays Tiered Savings: up to 4.65% APY
- Valley Direct Savings Promo: 4.55% (for new customers only) APY
