/images/2018/01/23/navina-side-hustle-mid_MPfEDfV.jpg)
/images/2019/12/06/smart_strategies_to_save_money_on_car_insurance.jpg)
Grow your savings faster with the best high-yield savings accounts from our partners, offering up to 10x higher APY (annual percentage yield) than traditional savings accounts.1 <p class="">The product and annual percentage yield (APY) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your area. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. Always verify account details and availability with the financial institution before opening an account.<br></p>
Select Your Initial Deposit Amount Below:
| Bank/Institution | APY
|
Open Account | Bonus Offer |
|---|---|---|---|
/images/2024/07/31/amex_logo_-_cropped.png){kind=logo}  5.0 | 3.80
With $0 min. balance2 <p>The Annual Percentage Yield (APY) as advertised is accurate as of December 17, 2024. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. </p> %APY | Learn More
Member FDIC
| N/A |
/images/2024/07/31/sofi_logo_-_cropped.png){kind=logo} 5.0 | 4.00
With $0 min. balance3 <p><b>SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance 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 $2M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/terms">SoFi.com/banking/fdic/terms</a> See list of participating banks at <a href="http://sofi.com/banking/fdic/receivingbanks">SoFi.com/banking/fdic/receivingbanks</a></b></p>
<p>When you open a SoFi Savings Account, SoFi Bank will also automatically open a SoFi Checking Account in your name. See the SoFi Bank Deposit Account Agreement for details.</p>
<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 when they set up Direct Deposit of at least $1,000 during the Direct Deposit Bonus Period. Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 12/31/24. Full terms at <a href="http://sofi.com/banking">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p>
<p>SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% 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 Dec. 3, 2024. There is no minimum balance requirement. 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>
<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>
<p>Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at <a href="https://www.adviserinfo.sec.gov">www.adviserinfo.sec.gov</a>.
</p> %APY | Learn More
Member FDIC
| Up to $300 cash bonus when you sign up and set up direct deposit with a minimum initial deposit of $5,000 or more |
/images/2024/09/27/82b32f46-b868-4016-a022-1e96149c3deb.png)  4.5 | 4.46
With $0.01 min. balance4 <p>The annual percentage yield (APY) is accurate as of 11/7/2024 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.</p> %APY | Learn More
Member FDIC
| N/A |
/images/2020/08/10/axos-bank-logo.png){kind=logo} 4.6 | 4.86
With $0 min. balance5 <p>The Annual Percentage Yield (APY) is accurate as of 10/31/2024. The base and promotional interest rate and corresponding APY for Axos ONE Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE Savings is variable and is set at our discretion. Axos ONE Savings is a tiered variable rate account. Axos ONE Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.</p>
<p>Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below. The Axos ONE Checking account will earn a base rate of 0.00% APY. The Axos ONE Savings account will earn a base rate of 1.00% APY.</p>
<p>Axos ONE accounts are eligible to receive a promotional APY for each statement cycle the criteria are met. To receive the promotional APY on both Axos ONE Checking and Axos ONE Savings, the Axos ONE Checking account must meet both of the following requirements during the statement cycle:</p>
<p>Your Axos ONE Checking account has received qualifying direct deposits of at least $1,500 in total.</p>
<p>The average daily balance of your Axos ONE Checking account is greater than $1,500.</p>
<p>If the above requirements are met:</p>
<p>The Axos ONE Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.</p>
<p>The Axos ONE Savings account will earn a promotional rate of up to 4.86% APY for the statement cycle in which the requirements are met.</p>
<p>A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. Qualifying transactions must post and clear the account by the 25th of the month to count towards the monthly qualification cycle. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit. Both accounts must be in an open and active status on the date the interest is paid to receive the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.</p> %APY | Learn More
Member FDIC
| Combined Savings & Checking account offering up to 4.86% APY on Savings and 0.51% APY on Checking |
/images/2024/07/31/barclays_logo_-_cropped_2.png){kind=logo} 4.5 | 4.35
With $0 min. balance6 <p>Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 12/16/24 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information.</p> %APY | Learn More
Member FDIC
| |
/images/2024/10/23/lendingclub_logo.svg.png){kind=logo}  4.8 | 4.75
With $0 min. balance
%APY | Learn More
Member FDIC
| N/A |
Compare Today's Top Savings Accounts
/images/2024/07/31/amex_logo_-_cropped.png){kind=logo}
/images/2024/07/31/sofi_logo_-_cropped.png){kind=logo}
/images/2024/09/27/82b32f46-b868-4016-a022-1e96149c3deb.png)
/images/2020/08/10/axos-bank-logo.png){kind=logo}
/images/2024/07/31/barclays_logo_-_cropped_2.png){kind=logo}
/images/2024/10/23/lendingclub_logo.svg.png){kind=logo}
Bottom Line: Why We Like the American Express® High Yield Savings Account
If you’re looking for a high-yield savings account that offers a competitive annual percentage yield (APY), consumer-friendly features, and top-of-the-line customer service, then it’s hard to beat the American Express® High Yield Savings account. Open an account today, and on top of no monthly fees, enjoy the following benefits:
- Above-Average, Easy-To-Obtain APY:2 <p>The Annual Percentage Yield (APY) as advertised is accurate as of December 17, 2024. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. </p> With no minimum deposit or balance required,7 <p class="">There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.</p> you can enjoy a high 3.80% (as of December 17, 2024) APY to supercharge your savings.
- Banking Your Way: Seamless account access online and via the Amex® App, simple transfers and auto-deposits, and your choice of online or paper statements.
- Leading Customer Service: With “office hours” that never end, you can get in touch with an actual human 24 hours a day, 7 days a week.
- Save With Confidence: Member FDIC and backed by the service and reliability of American Express. Terms Apply.
Click here to open an American Express® High Yield Savings account
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 0.43% (as of 11/18/24) 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.
/images/2024/07/31/amex_logo_-_cropped.png){kind=logo}
High Yield Savings Account. No Minimum Required Deposit or Balance.7 <p class="">There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.</p> Terms Apply.
/images/2024/07/31/sofi_logo_-_cropped.png){kind=logo}
Earn up to 4.00% APY8 <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 Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="http://sofi.com/banking">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% 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 Dec. 3, 2024. There is no minimum balance requirement. 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> and collect up to a $300 cash bonus with direct deposit or $5,000 or more in qualifying deposits.16 <p>SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of Dec. 3, 2024. There is no minimum balance requirement. 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> FDIC Insured.11 <p><b>SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance 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 $2M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/terms">SoFi.com/banking/fdic/terms</a> See list of participating banks at <a href="http://sofi.com/banking/fdic/receivingbanks">SoFi.com/banking/fdic/receivingbanks</a></b></p>
/images/2024/09/27/82b32f46-b868-4016-a022-1e96149c3deb.png)
Western Alliance Bank offers a powerful 4.46% APY to help grow your money. FDIC insured, no fees,13 <p>No account activity or maintenance fees.</p> $500 minimum deposit, $0.01 minimum balance to earn APY.
/images/2020/08/10/axos-bank-logo.png){kind=logo}
Axos ONE® offers up to a powerful 4.86% APY on savings and 0.51% APY5 <p>The Annual Percentage Yield (APY) is accurate as of 10/31/2024. The base and promotional interest rate and corresponding APY for Axos ONE Checking is variable and is set at our discretion. The base and promotional interest rate and corresponding APY for Axos ONE Savings is variable and is set at our discretion. Axos ONE Savings is a tiered variable rate account. Axos ONE Checking is a non-tiered variable rate account. Interest rates may change as often as daily without prior notice. Fees may reduce earnings.</p> <p>Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After the accounts are opened, the amount of incentive earned will depend on meeting the additional requirements outlined below. The Axos ONE Checking account will earn a base rate of 0.00% APY. The Axos ONE Savings account will earn a base rate of 1.00% APY.</p> <p>Axos ONE accounts are eligible to receive a promotional APY for each statement cycle the criteria are met. To receive the promotional APY on both Axos ONE Checking and Axos ONE Savings, the Axos ONE Checking account must meet both of the following requirements during the statement cycle:</p> <p>Your Axos ONE Checking account has received qualifying direct deposits of at least $1,500 in total.</p> <p>The average daily balance of your Axos ONE Checking account is greater than $1,500.</p> <p>If the above requirements are met:</p> <p>The Axos ONE Checking account will earn a promotional rate of 0.51% APY for the statement cycle in which the requirements are met.</p> <p>The Axos ONE Savings account will earn a promotional rate of up to 4.86% APY for the statement cycle in which the requirements are met.</p> <p>A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, Disability, etc. Qualifying transactions must post and clear the account by the 25th of the month to count towards the monthly qualification cycle. Other deposits (i.e., online banking transfers, ATM and mobile check deposits, etc.) or person-to-person payments are not considered a direct deposit. Both accounts must be in an open and active status on the date the interest is paid to receive the promotional APY for that statement cycle. Account transactions may take one or more business days from the transaction date to post to the account.</p> on checking to help you grow your money. No monthly maintenance, minimum balance, account opening, or overdraft fees. FDIC insured.
/images/2024/07/31/barclays_logo_-_cropped_2.png){kind=logo}
High-yield savings account. Earn up to 4.65% APY with a minimum balance of $250,000 or more.
/images/2024/10/23/lendingclub_logo.svg.png){kind=logo}
Earn up to 4.75% APY15 <p>LevelUp Rate of 4.75% Annual Percentage Yield (“APY”) is applied to the full balance of LevelUp Savings accounts that receive a total of at least $250 in deposits during the Evaluation Period. Otherwise, accounts will earn the Standard Rate of 3.75% APY. Interest payments, account bonuses, account credits and reversals or refunds from the bank are not considered deposits for rate evaluation purposes. All LevelUp Savings accounts earn the LevelUp Rate at account opening and continue to earn the LevelUp Rate until the First Evaluation Period, to provide an opportunity to set up deposits. </p> <p>An Evaluation Period is a statement cycle. The First Evaluation Period will be the third statement cycle after you open your account, with any rate change becoming effective the next statement cycle. For example, if you open in August, the first Evaluation Period would be October with any rate change effective in November. Any rate changes will take place on the second business day and will be based on deposits in the previous statement cycle. </p> <p>APY accurate as of 11/25/2024. Rates are variable and subject to change at any time without notice, at the sole discretion of the bank. Fees may reduce earnings. $0 minimum opening deposit.</p> when you open a new LevelUp Savings account and deposit $250+ per month. Member FDIC.
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.