Best High-Yield Savings Accounts in 2025

As of February 2025, high-yield savings accounts continue to be one of the best options for individuals looking to grow their savings while maintaining liquidity. With some banks offering interest rates as high as 5.00% APY, savers can maximize their earnings compared to traditional savings accounts.

Why High-Yield Savings Accounts Matter in 2025

With fluctuating economic conditions and inflation concerns, having a high-yield savings account ensures your money grows at a competitive rate. Unlike traditional savings accounts, which offer as low as 0.41% APY, high-yield savings accounts provide a better return on your savings.

Understanding High-Yield Savings Accounts

What is a High-Yield Savings Account?

A high-yield savings account is a type of savings account that offers a significantly higher annual percentage yield (APY) compared to standard savings accounts. These accounts are typically offered by online banks, credit unions, and financial institutions with lower overhead costs.

How Do High-Yield Savings Accounts Work?

• Your deposits earn interest, compounded daily or monthly.
• Higher APY means more earnings on your balance over time.
• Most accounts have no monthly fees or low minimum balance requirements.
• Online banks tend to offer the highest rates.

Traditional vs. High-Yield Savings Accounts

Feature	Traditional Savings Account	High-Yield Savings Account
APY	~0.41%	Up to 5.00%
Fees	May have maintenance fees	Mostly no fees
Access	Offered by physical banks	Mostly online-based
Growth Potential	Slow	High

Top High-Yield Savings Accounts in 2025

Comparison of Best High-Yield Savings Accounts

Bank	APY	Minimum Deposit	Notes
Axos Bank	4.86%	$0	Highest APY available
Openbank	4.75%	$500	No monthly fees, non-Santander customers only
BrioDirect	4.55%	$0	Competitive rate, no minimum balance
CIT Bank Platinum Savings	4.30%	$5,000	Requires higher balance for best rate
American Express® High Yield Savings	3.80%	$0	No minimum balance required
Marcus by Goldman Sachs	3.90%	$0	Well-rated, widely recognized
Discover® Online Savings	3.75%	$0	Offers a bonus for qualifying deposits

Online Banks vs. Traditional Banks: Which Offers Better Rates?

• Online banks generally offer higher APYs due to lower operational costs.
• Traditional banks may provide better access to in-person services but lower APYs.
• If maximizing savings is the goal, an online high-yield savings account is the best option.

Key Features to Look for in a High-Yield Savings Account

Interest Rates and APY Explained

• APY reflects the total interest earned in a year, including compounding.
• The higher the APY, the more you earn.

Fees and Hidden Costs

• Look for accounts with no monthly maintenance fees.
• Avoid accounts that charge for withdrawals or account inactivity.

Minimum Balance Requirements

• Some banks require a minimum deposit to earn the highest APY.
• Choose an account that aligns with your saving habits.

Accessibility and Customer Service

• Ensure the bank offers a user-friendly mobile app and website.
• Consider 24/7 customer support availability.

Best High-Yield Savings Accounts for Different Needs

Best for No Minimum Balance

• BrioDirect (4.55% APY)
• Marcus by Goldman Sachs (3.90% APY)

Best for High APY

• Axos Bank (4.86% APY)

Best for Bonuses and Rewards

• Discover® Online Savings (3.75% APY + bonuses)

Best for Customer Support

• American Express® High Yield Savings

How to Maximize Your Savings in a High-Yield Account

Strategies to Earn the Most Interest

• Keep your balance above any minimum required for the highest APY.
• Consider setting up automatic transfers from your checking account.
• Take advantage of signup bonuses and promotional rates.

Compound Interest and How It Works

• Interest is compounded daily or monthly, meaning your money grows faster.
• The more frequently interest compounds, the greater your returns.

FAQs

What is the difference between a high-yield savings account and a regular savings account?

High-yield savings accounts offer significantly higher interest rates, while regular savings accounts provide minimal returns.

Can I lose money in a high-yield savings account?

No, high-yield savings accounts are FDIC insured, protecting your funds up to $250,000 per account.

How often do interest rates change?

Interest rates can change monthly or quarterly, depending on economic conditions and Federal Reserve policies.

Are high-yield savings accounts FDIC insured?

Yes, most high-yield savings accounts are FDIC insured for up to $250,000 per depositor.

Can I withdraw money anytime from a high-yield savings account?

Yes, but some banks limit withdrawals to six per month due to federal regulations.

Is it better to have multiple high-yield savings accounts?

It depends on your goals. Spreading savings across multiple accounts can take advantage of different rates and features.

Conclusion

A high-yield savings account remains one of the best places to store and grow your money safely in 2025. With interest rates significantly higher than traditional savings accounts, these accounts provide a secure way to maximize your savings without risking your principal.

Before choosing an account, compare APYs, fees, minimum balances, and accessibility to ensure the best fit for your financial needs. Whether you’re saving for an emergency fund or a future goal, a high-yield savings account is a smart choice in today’s economy.