| Bank/Institution | APY
|
Bonus Offer | Open Account | Bonus Offer |
|---|---|---|---|---|
2025 award winner
Best Checking and Savings Combo
|
||||
/images/2025/10/13/sofi_logo.svg_-_edited.png){kind=logo}
5.0
|
4.30
With $0 min. balance
%
APY
|
Limited-Time Offer: +0.70% boost to 4.30% APY on Savings for up to 6 months2 <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> + $50 or $300 Bonus with eligible direct deposit.3 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at<a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Terms apply. | ||
/images/2025/11/10/1137b0a2-f997-4c0c-b539-a36ba793a594.png)
4.7
|
4.20
With $500 min. balance4 <p>Interest Rates and Annual Percentage Yields (APYs) are accurate as of 12:01 AM ET September 23, 2025. The products and rates we offer may vary between locations, are available in select markets only, and are subject to change without notice. Rate for this product will be based on the residential ZIP code entered when account is opened within online application process. This is a variable-rate account and the rate applicable may change at our discretion any time without notice. A minimum deposit of $500 is required to open a Openbank High Yield Savings account. Personal accounts only.</p>
<p>Openbank is a division of Santander Bank, N.A. Member FDIC. There is a maximum of $250,000 of deposit insurance from the FDIC per depositor for each category of account ownership. Visit FDIC.gov for details. Deposits at Santander Bank, N.A., and Openbank are combined for the purposes of calculating FDIC insurance limits (FDIC Cert #29950) and are not separately insured.</p>
%
APY
|
- | ||
/images/2024/08/01/wa_logo_-_cropped.png){kind=logo}
4.3
|
3.90
With $1 min. balance5 <p>APY means Annual Percentage Yield. APY is accurate as of 11/26/25. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00.</p>
%
APY
|
Limited-Time Offer: Use code GIFT to earn a cash bonus each quarter based on your savings balance. Earn $15 for $10,000, $38 for $25,000, $75 for $50,000, $150 for $100,000, or $400 for $250,000 or more. Visit site for full details.6 <p>New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive $15 quarterly (up to $60/year) for depositing between $10,000 and $24,999, $38 quarterly (up to $150/year) for depositing between $25,000 and $49,999, $75 quarterly (up to $300/year) for depositing between $50,000 and $99,999, $150 quarterly (up to $600/year) for depositing between $100,000 and $249,999, and $400 quarterly (up to $1,600/year) for depositing $250,000 or more. </p><p>To qualify for the bonus, you must be a new Raisin customer who opens and funds their first account using promo code GIFT between December 1 and December 31, 2025. Your first qualifying deposit must be made before January 14th, 2026 to be eligible for the first quarter's bonus. You must maintain your balance through the end of each quarter to earn cash payouts every three months. You can add more funds before the bonus deposit deadline (April 14, July 14, October 14) if you'd like to move up to a higher bonus tier.</p><p>Bonus cash will be deposited by Raisin into the customer’s Cash Account within 30 days of the quarter's end. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin reserves the right to modify or terminate this offer at any time. For full details, please visit https://www.raisin.com/en-us/gift-2026.</p> | ||
/images/2025/08/04/cit_bank_logo_member_fdic_1.png){kind=logo}
4.3
|
3.85
With $5,000 min. balance7 <p>Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of Nov. 20 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.</p>
%
APY
|
Limited-Time Offer: Earn a $225 cash bonus when you deposit $25,000, or a $300 cash bonus when depositing $50,000 or more | ||
Today's Top High-Yield Savings Accounts
/images/2025/10/13/sofi_logo.svg_-_edited.png){kind=logo}
/images/2025/11/10/1137b0a2-f997-4c0c-b539-a36ba793a594.png)
/images/2024/08/01/wa_logo_-_cropped.png){kind=logo}
/images/2025/08/04/cit_bank_logo_member_fdic_1.png){kind=logo}
If you’re sitting on extra cash, it can feel like you’re losing money every day it sits idle — especially with inflation eating away at its value. High-yield savings accounts and CDs offer a safe way to earn more interest, but the right choice depends on your goals and timeline.
A fiduciary advisor can help you decide whether to lock in today’s rates with a CD, stay flexible with a savings account, or balance both within a broader wealth plan.
This free matching quiz connects you with up to three vetted fiduciary advisors so you can compare professionals and find the right strategy for your money.
Frequently Asked Questions
When picking a new savings account, there are a few key things to consider, like the APY (annual percentage yield) they offer or the fees they charge. And remember, you don’t have to stick with just one account — opening different accounts can help you get the best rates and ensure your money is protected up to the legal limit.
Money in an online savings account is covered by protections as long as the account provider is FDIC insured, and virtually all major banks are. You'll typically see it stated as "member FDIC."
FDIC stands for Federal Deposit Insurance Corporation. The FDIC insurance covers accounts up to $250,000 accounts up to $250,000, so if your bank goes under financially, you will still get back all your money, up to that amount. The National Credit Union Administration provides similar insurance for credit unions.
Savings account interest rates vary from bank to bank and over time. The FDIC indicates the national average interest rate for savings accounts is 0.40% (as of 11/17/25) APY. That means if you see an account with a higher interest rate, it would allow you to beat the average.
Requirements to open an online savings account vary by the financial institution. You generally need to provide your full name, address, contact details, and a Social Security number. Some banks also require you to provide your driver's license information. If you are planning to fund the new account with money from a different bank or credit union, you will also need that account information.
The process for depositing and withdrawing money from online savings accounts varies by bank or credit union. Generally, you can fund an online savings account via electronic transfer from another bank account, by direct deposit, or by depositing a check. Withdrawals can generally also be completed by bank-to-bank transfer, or you may be able to request a check or use a debit card if your bank allows it.
How we chose these products
FinanceBuzz evaluated a selection of bank accounts offered by our partners, looking at various criteria including interest rates, minimum deposit requirements, and more. We did not review all products in the category and compensation was considered when evaluating and ordering the products.
/images/2025/10/13/sofi_logo.svg_-_edited.png){kind=logo}
- 🚨 Limited-Time Offer: +0.70% boost to 4.30% APY on Savings for up to 6 months2 <p>Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 1/31/26. Rates variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#2">sofi.com/banking#2</a>. SoFi Bank, N.A. Member FDIC.</p> + up to $300 Bonus with direct deposit.3 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p><p>SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at<a href="http://www.sofi.com/legal/banking-rate-sheet" >http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Terms apply. Member FDIC.10 <p><b style="font-family: Rubik, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, "Helvetica Neue", Arial, sans-serif;">SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/sidpterms">SoFi.com/banking/fdic/sidpterms</a>. See list of participating banks at <a href="http://sofi.com/banking/fdic/participatingbanks">SoFi.com/banking/fdic/participatingbanks</a>.</b></p>
- No account, overdraft, or monthly fees8 <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p>
- Get your paycheck up to two days early9 <p>Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.</p>