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1. Banking
2. Savings
3. High-yield savings accounts
BEST HIGH-YIELD SAVINGS ACCOUNTS OF AUGUST 2024
Written by
Matthew Goldberg
Matthew Goldberg
Senior Consumer Banking Reporter
Ribbon Expertise
* • Consumer banking
* • Savings accounts and CDs
Calendar
22 Years of experience
Matthew Goldberg is a consumer banking reporter at Bankrate where he uses his
more than 13 years of financial services experience to help inform readers about
their important personal finance decisions.
Read more
* Twitter
* LinkedIn
* Email
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Matthew Goldberg
+ 2 others Caret Down
Edited by
Marc Wojno
Marc Wojno
Senior banking editor
Ribbon Expertise
* • Personal finance
* • Savings accounts
Marc Wojno is a seasoned and accomplished finance editor and writer with more
than two decades of experience editing and writing across a variety of news
platforms including newswires, newsletters, magazines and online news sites.
Read more
* LinkedIn
* Email
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Marc Wojno
Reviewed by
Greg McBride, CFA
Greg McBride, CFA
Chief financial analyst, Personal Finance
Ribbon Expertise
* • Personal finance
* • Investing
Calendar
25 Years of experience
Greg McBride, CFA, is the Chief Financial Analyst for Bankrate.com, leading a
team responsible for researching financial products, providing analysis, and
advice on personal finance to a vast consumer audience.
Read more
* Twitter
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About our review board
Close
Greg McBride, CFA
Edited by
Marc Wojno
Marc Wojno
Senior banking editor
Ribbon Expertise
* • Personal finance
* • Savings accounts
Marc Wojno is a seasoned and accomplished finance editor and writer with more
than two decades of experience editing and writing across a variety of news
platforms including newswires, newsletters, magazines and online news sites.
Read more
* LinkedIn
* Email
Close
Marc Wojno
Reviewed by
Greg McBride, CFA
Greg McBride, CFA
Chief financial analyst, Personal Finance
Ribbon Expertise
* • Personal finance
* • Investing
Calendar
25 Years of experience
Greg McBride, CFA, is the Chief Financial Analyst for Bankrate.com, leading a
team responsible for researching financial products, providing analysis, and
advice on personal finance to a vast consumer audience.
Read more
* Twitter
* Email
About our review board
Close
Greg McBride, CFA
Updated Aug. 5, 2024
Editorial note: While our partners compensate us from links on this page, we
maintain editorial integrity, and partners don't influence our product
evaluations. Here's how we make money and here is our advertiser disclosure.
ADVERTISER DISCLOSURE
The listings that appear on this page are from companies from which this website
receives compensation, which may impact how, where and in what order products
appear. This table does not include all companies or all available products.
Bankrate does not endorse or recommend any companies.
High-yield savings accounts can be a great place to put money that you’re saving
and want to earn a competitive APY on, but you aren’t sure on the time horizon
for the money. Bankrate’s top high-yield savings offers pay much higher APYs
than the national average yield of 0.59 percent. Read more
Bankrate provides you with timely news and rate information on the top savings
yields from some of the most popular and largest Federal Deposit Insurance Corp.
(FDIC)-insured banks and National Credit Union Administration (NCUA)-insured
credit unions. This way you don’t have to spend time searching many bank and
credit union websites. Since 1976, Bankrate has been a trusted source of banking
information to help you make well-informed decisions on your finances.
Show Less
Page preview:
Table of contents Top rates
Show me:
The following accounts can be found at most banks and credit unions. They’re
federally insured for up to $250,000 and offer a safe place to put your money
while earning interest.
Certificate of Deposit (CD)
CDs are best for individuals looking for a guaranteed rate of return that’s
typically higher than a savings account. In exchange for a higher rate, funds
are tied up for a set period of time and early withdrawal penalties may apply.
Checking account
Checking accounts are best for individuals who want to keep their money safe
while still having easy, day-to-day access to their funds. ATM and other
transactional fees may apply.
Savings / Money Market Accounts (MMA)
Savings and MMAs are good options for individuals looking to save for
shorter-term goals. They’re a safe way to separate your savings from everyday
cash, but may require larger minimum balances and have transfer limitations.
Savings & MMAsCheckingCDs
Zip code
Deposit amount
Filters
Current savings trends
Bankrate Partner average
4.88% APY
National average
0.59% APY
The "Bankrate Partner average" is calculated from the average of the top savings
account offers from the institutions we track, included on this page as of
8/7/2024. "National average" is determined by Bankrate's comprehensive national
survey of savings accounts and CDs.
Savings & MMA
Savings rates
Money Market
Money Market IRA
Reset
SPONSORED OFFERS
Offers featured here have been sponsored which impacts how, where, and in what
order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and
minimums.Learn more.
Savings
American Express National Bank savings account
Member FDIC
4.4
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
4.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
1
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,125
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
EXPERT TAKE:
American Express National Bank offers a competitive yield on its High Yield
Savings Account. The account doesn’t require a minimum opening deposit. The
account also doesn’t have a monthly service fee or minimum balance requirements
to worry about. Read full review
Pros
* American Express features 24/7 customer support.
* The bank lets you make automatic deposits into your savings account.
Cons
* Some online banks offer a higher yield.
Next ArrowCollapseHide details
Savings
Forbright Bank savings account
Member FDIC
4.9
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
5.30
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,650
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer: No account fees, unlimited transfers, better for the planet
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
Current Promotion
Get the best of both worlds with Forbright Bank Growth Savings.
Apply for an account in minutes to watch your savings grow with competitive
rates, no account fees or minimums, and unlimited transfers. You'll also bank
with impact by saving with an institution that finances businesses that are
creating a brighter, more sustainable future for us all.
EXPERT TAKE:
Forbright Bank’s Growth Savings account earns a highly competitive yield,
without requiring a minimum opening deposit or charging monthly service fees.
Read full review
Pros
* The Growth Savings account earns a top-notch APY.
* The account doesn’t require any minimum opening deposit.
* No monthly service fees are charged.
Cons
* The account does not come with ATM access.
Next ArrowCollapseHide details
Savings
LendingClub savings account
Member FDIC
4.9
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
5.00
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,500
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer: Plus, no monthly fees and unlimited free external transfers
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$100.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
Plus, no monthly fees and unlimited free external transfers
EXPERT TAKE:
LendingClub Bank offers a High-Yield Savings Account that has a top-tier APY.
You’ll only need $100 to open this account, and it doesn’t charge any monthly
service fees. Read full review
Pros
* LendingClub Bank offers a savings account with a very competitive yield.
* You only need a minimum of $100 to open a LendingClub savings account.
* There are no monthly fees.
Cons
* Some other banks don’t require a minimum opening deposit for their savings
accounts.
* Accounts can only be opened online.
Next ArrowCollapseHide details
Savings
Marcus by Goldman Sachs savings account
Member FDIC
4.7
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
4.40
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,200
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
EXPERT TAKE:
Marcus by Goldman Sachs offers a competitive yield on its savings account and
has been consistently raising it in 2022. With no fees and no minimum deposit,
Marcus is a good option for savers who are comfortable with banking exclusively
online. Read full review
Pros
* Marcus by Goldman Sachs consistently offers high yields.
* There’s no minimum deposit required to open a Marcus Online Savings Account.
* Marcus by Goldman Sachs has customer service representatives available 24/7.
Cons
* There are some other banks that offer a higher yield.
* The Marcus by Goldman Sachs Online Savings Account doesn’t allow mobile check
deposits. You’ll need to mail checks to the bank.
Next ArrowCollapseHide details
Savings
Capital One savings account
Member FDIC
4.4
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
4.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,125
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
It only takes about 5 minutes to open a fee-free account.
EXPERT TAKE:
Capital One’s 360 Performance Savings Account earns a competitive yield. It
doesn’t require a minimum opening deposit and you won’t pay a monthly service
fee with this account. Capital One is one of the few online banks that you can
visit at a branch location to withdraw cash. Read full review
Pros
* The bank pays a competitive yield on its 360 Performance Savings Account.
* The Capital One 360 Performance Savings Account doesn’t have a monthly
service fee.
* You don’t need a minimum opening deposit.
* You can deposit checks through mobile deposit with this account.
Cons
* Some banks offer a higher yield on their savings accounts.
Next ArrowCollapseHide details
Savings
Western Alliance Bank savings account
Member FDIC
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
5.31
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,655
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer
Learn moreArrow
View details
Offer details
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
Current Promotion
5.31% annual percentage yield (APY) is accurate as of 7/11/2024 and subject to
change at the Bank’s discretion. Minimum deposit required to open an account is
$500 and a minimum balance of $0.01 is required to earn the advertised APY.
Next ArrowCollapseHide details
Savings
Barclays savings account
Member FDIC
4.5
Bankrate Savings rating = 4.5/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
4.50
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
50,000
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,250
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
Yes
Current Promotion
* Deposit $0- $9,999 get 1.00%
* Deposit $10,000 - $49,999 get 4.40%
* Deposit $50,000 - $249,999 get 4.50%
* Deposit greater than $250,000 get 4.80%
* Consumers will see their rates grow with their Tiered Savings and can earn up
to 4.80%
EXPERT TAKE:
The Barclays Tiered Savings Account offers a competitive yield for balances over
$10,000. You don’t need a minimum deposit to open an account and like at most
online banks, you won’t pay a monthly maintenance fee. Read full review
Pros
* Barclays allows you to earn a competitive yield on your savings.
* Barclays’ savings account doesn’t have a monthly service fee.
* Barclays doesn’t have a minimum opening deposit requirement.
Cons
* You can earn a higher yield at some other online banks.
Next ArrowCollapseHide details
Savings
BMO Alto savings account
Member FDIC
4.7
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
5.10
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,550
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
EXPERT TAKE:
BMO Alto’s Online Savings Account made its debut in 2023, and it earns a highly
competitive yield. This nationally available account doesn’t charge a monthly
service fee, and there’s no minimum balance requirement. Read full review
Pros
* BMO Alto’s Online Savings account earns one of the highest yields around.
* Monthly fees and minimum balance requirements are nonexistent.
* Unlimited transfers and withdrawals are permitted.
Cons
* Transactions for this online-only account cannot be made in person at a BMO
branch.
* Mobile check deposit is not an option and there’s no ATM access either.
Next ArrowCollapseHide details
Savings
Bask Bank savings account
Member FDIC
4.7
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
5.10
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,550
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer: 0 Monthly Acct Fees. No Balance Cap to Earn APY.
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
0 Monthly Acct Fees. No Balance Cap to Earn APY.
EXPERT TAKE:
Bask Bank’s Interest Savings Account earns a highly competitive APY, with no
minimum balance requirement or monthly fees. The bank also offers a Mileage
Savings Account, which allows you to earn American Airlines miles as rewards,
based on your monthly balance. Read full review
Pros
* Bask Bank’s Interest Savings Account earns a top-notch yield.
* The Interest Savings Account doesn’t charge a maintenance fee or require a
set minimum balance.
Cons
* Bask charges $35 per outgoing wire transfer, which is steep compared to other
banks.
* Neither savings account comes with ATM access.
Next ArrowCollapseHide details
Money Market
Sallie Mae Bank money market account
Member FDIC
4.9
Bankrate Money Market rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
as of Aug 7
4.65
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,325
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Promoted offer
Learn moreArrow
View details
Offer details
* Details
* Bankrate's view
Money Market account details
Offer valid as of
8/7/2024
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
EXPERT TAKE:
Sallie Mae Bank offers a competitive yield on its High-Yield Savings Account.
You don’t need a minimum opening deposit to open this account and the bank
doesn’t charge a monthly service fee. Read full review
Pros
* You don’t need to make a minimum opening deposit.
* Sallie Mae Bank currently offers a competitive yield on its High-Yield
Savings Account.
* Transfers are free.
Cons
* Some other online banks offer a higher yield on their savings accounts.
Next ArrowCollapseHide details
Estimate your savings in seconds
Initial Deposit
Monthly contribution
Investment period
APY
Interest earned$14,353.3
Total contributions$24,000
Initial deposit$10,000
Total savings$48,353.30
That's $13,100.18 better than the national average
Offers from banks you may use
The APYs listed below were last updated between 7/31 and 8/6.
Each week, Bankrate's editorial staff surveys hundreds of banks to determine
their best rates. Based on the cadence of our review, the actual rates listed
may differ from the rates surveyed by our staff. Contact the bank to receive the
most current rates.
Savings
Chase Bank savings account
Member FDIC
2.9
Bankrate Savings rating = 2.9/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
0.01
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
0
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
5
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Read review
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer last updated between
7/31 - 8/6
Minimum deposit to open
$0.00
Minimum balance to avoid fees
$300.00
Monthly fee
$5.00
Check writing
No
EXPERT TAKE:
The Chase Savings account is the bank’s standard savings account. It offers a
yield well below the national average for savings accounts. The Chase Savings
account has a $5 monthly maintenance fee. Starting every day with at least $300
or automatically transferring at least $25 per month from your Chase checking
account to this savings account are two ways to waive the fee. Read full review
Pros
* Those who already bank with Chase might find it convenient to have a savings
account at this bank.
* Chase’s many branches and ATMs might also make this a good fit for people who
live in a Chase market.
Cons
* The Chase Savings account has a waivable $5 monthly maintenance fee. Many
online banks don’t have monthly service fees.
* The Chase Savings account doesn’t earn a competitive yield.
CollapseHide details
Savings
Bank of America savings account
Member FDIC
2.7
Bankrate Savings rating = 2.7/5
Bankrate scores are objectively determined by our editorial team. Annual
percentage yields (APYs), minimum opening deposit requirements and minimum
balances to avoid monthly service fees are some of the things that make up
Bankrate’s score.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
0.01
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
100
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
5
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
Read review
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer last updated between
7/31 - 8/6
Minimum deposit to open
$100.00
Minimum balance to avoid fees
$500.00
Monthly fee
$8.00
Check writing
No
EXPERT TAKE:
Bank of America has very low yields on its Bank of America Advantage Savings
account. Its APY is well below the savings national average. Read full review
Pros
* You only need $100 to open Bank of America’s Advantage Savings account.
* Bank of America might be a good choice for you if its branches and ATMs are
convenient to where you live.
Cons
* The account’s yield is very uncompetitive.
* You’ll need to qualify for the bank’s Platinum Honors Tier to earn its
highest yield. And that APY is well below the national average.
CollapseHide details
Additional offers
The APYs listed below were last updated between 7/31 and 8/6.
Each week, Bankrate's editorial staff surveys hundreds of banks to determine
their best rates. Based on the cadence of our review, the actual rates listed
may differ from the rates surveyed by our staff. Contact the bank to receive the
most current rates.
Savings
MyBankingDirect savings account
Member FDIC
APY
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
5.35
%
APY, or annual percentage yield, is the yearly return on a bank or investment
account. APY includes the effects of compounding interest.
Min. balance for APY
$
1
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
$
2,675
Interest earned calculation based on a $50,000 deposit amount for a period of 1
year and is rounded to the nearest dollar. Exact earnings are dependent on
calendar year, balance, and compounding frequency. Minimum deposit rules may
apply.
View details
Offer details
* Details
* Bankrate's view
Savings account details
Offer last updated between
7/31 - 8/6
Minimum deposit to open
$500.00
Minimum balance to avoid fees
$0.00
Monthly fee
$0.00
Check writing
No
EXPERT TAKE:
MyBankingDirect is a service of Flagstar Bank, which is a subsidiary of New York
Community Bancorp. The High Yield Savings Account earns a competitive rate,
doesn’t charge a monthly service fee and requires at least a $500 minimum
opening deposit.
Pros
* The MyBankingDirect High Yield Savings Account earns a top-notch rate on all
balances over $1.
* The account has no monthly service fee.
Cons
* You’ll need at least $500 to open the account.
* The bank charges a $30 fee if you close the account within 180 days of
opening it.
CollapseHide details
Show more
On This Page
* Best high-yield savings accounts
* Recent news on high-yield savings account rates
* How to choose an online high-yield savings account
* What to know about high-yield savings accounts
* Pros and cons of high-yield savings accounts
* Alternatives to high-yield savings accounts
* High-yield savings FAQs
* Research methodology
On This Page Jump to Menu List
On This Page
* Best high-yield savings accounts
* Recent news on high-yield savings account rates
* How to choose an online high-yield savings account
* What to know about high-yield savings accounts
* Pros and cons of high-yield savings accounts
* Alternatives to high-yield savings accounts
* High-yield savings FAQs
* Research methodology
Prev Next
BEST HIGH-YIELD SAVINGS ACCOUNTS FOR AUGUST 2024
Note: Annual percentage yields (APYs) shown were updated between July 31 and
Aug. 6. All other information is current as of Aug. 5. Bankrate's editorial team
validates this information regularly, typically biweekly. APYs may have changed
since they were last updated and may vary by region for some products. Bankrate
includes only FDIC banks or NCUA credit unions in its listings.
BRIODIRECT
Rating: 4.6 stars out of 5
4.6
OVERVIEW
BrioDirect offers a High-Yield Savings account that offers a competitive yield
that requires $5,000 to open.
Read Bankrate's Expert BrioDirect Review
Invest Rate
5.30% APY
Loan
$5,000 min. deposit to open
* RATE HISTORY FOR BRIODIRECT'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
BrioDirect
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
BRIODIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
BrioDirect
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
06/04/2024 5.30% 0.59% 05/07/2024 5.35% 0.59% 04/02/2024 5.35% 0.58%
03/05/2024 5.35% 0.57% 01/02/2024 5.35% 0.58% 12/05/2023 5.35% 0.57%
11/07/2023 5.35% 0.60% 10/03/2023 5.35% 0.58%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
BrioDirect
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
BRIODIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
BrioDirect
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
06/04/2024 5.30% 0.59% 05/07/2024 5.35% 0.59% 04/02/2024 5.35% 0.58%
03/05/2024 5.35% 0.57% 01/02/2024 5.35% 0.58% 12/05/2023 5.35% 0.57%
11/07/2023 5.35% 0.60% 10/03/2023 5.35% 0.58%
* WHY WE CHOSE IT
Caret Down
* BrioDirect offers a competitive yield on its High-Yield Savings account.
* BrioDirect offers a competitive yield on its High-Yield Savings account.
* WHAT TO WATCH FOR
Caret Down
* You need to keep at least $25 in the account to earn the APY.
* You need at least $5,000 to open this account.
* Your account may be closed if it doesn’t have money in it for 21 or more
days.
* You need to keep at least $25 in the account to earn the APY.
* You need at least $5,000 to open this account.
* Your account may be closed if it doesn’t have money in it for 21 or more
days.
UFB DIRECT
Rating: 5 stars out of 5
5.0
OVERVIEW
UFB Direct is known for its high-yield savings account and money market account.
Both the UFB Portfolio Savings account and UFB Portfolio Money Market account
earn very competitive yields. One of their differences is the UFB Portfolio
Savings account, which has ATM access, doesn’t charge a monthly service fee. The
UFB Portfolio Money Market account charges a $10 monthly maintenance fee if you
don’t keep at least $5,000 in the account.
Read Bankrate's Expert UFB Direct Review
Invest Rate
5.15% APY
Loan
$0 min. deposit to open
* RATE HISTORY FOR UFB DIRECT'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
UFB Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
UFB DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
UFB Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
07/30/2024 5.15% 0.59% 05/07/2024 5.25% 0.59% 04/02/2024 5.25% 0.58%
03/05/2024 5.25% 0.57% 01/02/2024 5.25% 0.58% 12/05/2023 5.25% 0.57%
11/07/2023 5.25% 0.60% 10/03/2023 5.25% 0.58% 09/05/2023 5.25% 0.57%
08/15/2023 5.25% 0.55% 08/08/2023 5.06% 0.55%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
UFB Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
UFB DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
UFB Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
07/30/2024 5.15% 0.59% 05/07/2024 5.25% 0.59% 04/02/2024 5.25% 0.58%
03/05/2024 5.25% 0.57% 01/02/2024 5.25% 0.58% 12/05/2023 5.25% 0.57%
11/07/2023 5.25% 0.60% 10/03/2023 5.25% 0.58% 09/05/2023 5.25% 0.57%
08/15/2023 5.25% 0.55% 08/08/2023 5.06% 0.55%
* WHY WE CHOSE IT
Caret Down
* UFB Direct’s Portfolio Savings account offers a top-tier yield.
* It also offers ATM access, which isn’t offered by every online bank.
* You can use mobile deposit to deposit checks at UFB Direct.
* Unlike the UFB Portfolio Money Market Account, the UFB Portfolio Savings
account doesn’t have a monthly service fee or minimum balance requirement.
* The UFB Portfolio Savings account doesn’t require a minimum opening
deposit.
* UFB Direct’s Portfolio Savings account offers a top-tier yield.
* It also offers ATM access, which isn’t offered by every online bank.
* You can use mobile deposit to deposit checks at UFB Direct.
* Unlike the UFB Portfolio Money Market Account, the UFB Portfolio Savings
account doesn’t have a monthly service fee or minimum balance requirement.
* The UFB Portfolio Savings account doesn’t require a minimum opening
deposit.
* WHAT TO WATCH FOR
Caret Down
* Time will tell if UFB Direct’s yield stays among the highest APYs over
time, since savings APYs are variable.
* UFB Direct has five balance tiers. All of them yielded the same APY during
Bankrate’s review, but this could change in the future.
* Time will tell if UFB Direct’s yield stays among the highest APYs over
time, since savings APYs are variable.
* UFB Direct has five balance tiers. All of them yielded the same APY during
Bankrate’s review, but this could change in the future.
BREAD SAVINGS
Rating: 4.8 stars out of 5
4.8
OVERVIEW
Bread Savings is an online bank that offers a high-yield savings account and
five terms of CDs. Bread Savings requires at least $100 to open this account.
Read Bankrate's Expert Bread Savings Review
Invest Rate
5.15% APY
Savings
$0 min. balance for APY
Loan
$100 min. deposit to open
* RATE HISTORY FOR BREAD SAVINGS'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Bread Savings
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
BREAD SAVINGS SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Bread Savings
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
07/22/2024 5.15% 0.59% 04/18/2024 5.15% 0.58% 09/27/2023 5.15% 0.57%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Bread Savings
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
BREAD SAVINGS SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Bread Savings
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
07/22/2024 5.15% 0.59% 04/18/2024 5.15% 0.58% 09/27/2023 5.15% 0.57%
* WHY WE CHOSE IT
Caret Down
* Bread Savings pays very competitive yields on its savings account.
* With just $100 needed to open an account and no monthly maintenance fees,
savers of all types may find it to be an appealing option.
* Bread Savings pays very competitive yields on its savings account.
* With just $100 needed to open an account and no monthly maintenance fees,
savers of all types may find it to be an appealing option.
* WHAT TO WATCH FOR
Caret Down
* A paper statement will cost you $5 per request at Bread Savings.
* The bank also charges $25 to send a wire transfer.
* A paper statement will cost you $5 per request at Bread Savings.
* The bank also charges $25 to send a wire transfer.
BASK BANK
Rating: 4.7 stars out of 5
4.7
OVERVIEW
Bask Bank is known for its high-yielding Bask Interest Savings account. It’s
also known for a unique account, the Bask Mileage Savings account, where you can
earn American Airlines miles. Bask Bank, a division of Texas Capital Bank, made
its debut in early 2020 with its Mileage Savings Account. In February 2022, Bask
introduced its Interest Savings Account, which offers a very competitive yield
and doesn’t require a minimum opening deposit.
Read Bankrate's Expert Bask Bank Review
Invest Rate
5.10% APY
Savings
$0 min. balance for APY
Loan
$0 min. deposit to open
* RATE HISTORY FOR BASK BANK'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Bask Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
BASK BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Bask Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/07/2024 5.10% 0.59% 04/02/2024 5.10% 0.58% 03/05/2024 5.10% 0.57%
01/02/2024 5.10% 0.58% 12/05/2023 5.10% 0.57% 11/03/2023 5.10% 0.60%
10/18/2023 5.10% 0.58% 10/03/2023 5.00% 0.58% 09/05/2023 5.00% 0.57%
08/08/2023 5.00% 0.55%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Bask Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
BASK BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Bask Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/07/2024 5.10% 0.59% 04/02/2024 5.10% 0.58% 03/05/2024 5.10% 0.57%
01/02/2024 5.10% 0.58% 12/05/2023 5.10% 0.57% 11/03/2023 5.10% 0.60%
10/18/2023 5.10% 0.58% 10/03/2023 5.00% 0.58% 09/05/2023 5.00% 0.57%
08/08/2023 5.00% 0.55%
* WHY WE CHOSE IT
Caret Down
* Bask Bank has consistently offered a top-tier APY on its Interest Savings
Account since it first debuted in early 2022.
* Bask Bank doesn’t have a minimum balance requirement.
* The Bask Bank Interest Savings Account doesn’t have a monthly service fee.
* The bank has a unique savings account, the Bask Mileage Savings account,
where you can earn American Airlines miles.
* Bask Bank has consistently offered a top-tier APY on its Interest Savings
Account since it first debuted in early 2022.
* Bask Bank doesn’t have a minimum balance requirement.
* The Bask Bank Interest Savings Account doesn’t have a monthly service fee.
* The bank has a unique savings account, the Bask Mileage Savings account,
where you can earn American Airlines miles.
* WHAT TO WATCH FOR
Caret Down
* You’ll need to fund your Bask Bank Interest Savings Account within 15 days
of opening it; otherwise, the account could be closed.
* The bank charges $35 for outgoing wire transfers.
* Though Bask Bank has a top-tier yield, some banks do offer higher APYs.
* You’ll need to fund your Bask Bank Interest Savings Account within 15 days
of opening it; otherwise, the account could be closed.
* The bank charges $35 for outgoing wire transfers.
* Though Bask Bank has a top-tier yield, some banks do offer higher APYs.
EVERBANK
Rating: 5 stars out of 5
5.0
OVERVIEW
The EverBank Performance℠ Savings account earns more than the national average
APY. There’s no minimum deposit required to open the account.
Read Bankrate's Expert EverBank Review
Invest Rate
5.05% APY
Savings
$0 min. balance for APY
Loan
$0 min. deposit to open
* RATE HISTORY FOR EVERBANK'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
EverBank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
EVERBANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
EverBank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/31/2024 5.05% 0.59% 01/03/2024 5.15% 0.58% 12/04/2023 5.15% 0.57%
10/02/2023 5.15% 0.58% 09/01/2023 5.00% 0.57%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
EverBank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
EVERBANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
EverBank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/31/2024 5.05% 0.59% 01/03/2024 5.15% 0.58% 12/04/2023 5.15% 0.57%
10/02/2023 5.15% 0.58% 09/01/2023 5.00% 0.57%
* WHY WE CHOSE IT
Caret Down
* There’s no monthly maintenance fee.
* EverBank doesn’t have a minimum opening balance requirement for its
Performance℠ Savings account.
* There’s no monthly maintenance fee.
* EverBank doesn’t have a minimum opening balance requirement for its
Performance℠ Savings account.
* WHAT TO WATCH FOR
Caret Down
* Some savings accounts from other banks offer slightly higher yields.
* Some savings accounts from other banks offer slightly higher yields.
POPULAR DIRECT
Rating: 4.8 stars out of 5
4.8
OVERVIEW
Popular Direct is known for offering competitive yields. But those competitive
yields have $100 minimum opening deposit requirements with the Popular Direct
High-Rise Savings account. (The minimum opening requirement is much higher for
its CDs.) The account also has a $25 fee for closing it within your first 180
days, so definitely make sure you’re going to keep this account for at least
that amount of time. Popular Direct has been around since 2016. It offers a
savings account and eight terms of CDs. The CDs have terms ranging from three
months to five years.
Read Bankrate's Expert Popular Direct Review
Invest Rate
5.05% APY
Loan
$100 min. deposit to open
* RATE HISTORY FOR POPULAR DIRECT'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Popular Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
POPULAR DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Popular Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
06/25/2024 5.05% 0.59% 05/07/2024 5.15% 0.59% 04/02/2024 5.15% 0.58%
03/12/2024 5.15% 0.57% 03/05/2024 5.20% 0.57% 01/09/2024 5.20% 0.58%
01/02/2024 5.25% 0.58% 12/12/2023 5.35% 0.57% 12/05/2023 5.40% 0.57%
11/07/2023 5.40% 0.60% 10/17/2023 5.40% 0.58% 10/03/2023 5.25% 0.58%
09/26/2023 5.25% 0.57% 09/05/2023 5.20% 0.57% 08/22/2023 5.20% 0.55%
08/08/2023 5.15% 0.55%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Popular Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
POPULAR DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Popular Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
06/25/2024 5.05% 0.59% 05/07/2024 5.15% 0.59% 04/02/2024 5.15% 0.58%
03/12/2024 5.15% 0.57% 03/05/2024 5.20% 0.57% 01/09/2024 5.20% 0.58%
01/02/2024 5.25% 0.58% 12/12/2023 5.35% 0.57% 12/05/2023 5.40% 0.57%
11/07/2023 5.40% 0.60% 10/17/2023 5.40% 0.58% 10/03/2023 5.25% 0.58%
09/26/2023 5.25% 0.57% 09/05/2023 5.20% 0.57% 08/22/2023 5.20% 0.55%
08/08/2023 5.15% 0.55%
* WHY WE CHOSE IT
Caret Down
* The Popular Direct Select Savings account earns a competitive yield.
* The account has no monthly maintenance fee.
* The Popular Direct Select Savings account earns a competitive yield.
* The account has no monthly maintenance fee.
* WHAT TO WATCH FOR
Caret Down
* A $25 fee applies if the account is closed within the first 180 days.
* The bank charges a $5 fee for each withdrawal or transfer over the
six-withdrawal limit per statement cycle, according to its product guide.
* A $25 fee applies if the account is closed within the first 180 days.
* The bank charges a $5 fee for each withdrawal or transfer over the
six-withdrawal limit per statement cycle, according to its product guide.
TAB BANK
Rating: 4.9 stars out of 5
4.9
OVERVIEW
TAB Bank is known for offering competitive yields. It’s also known for its
unique checking account for truck drivers. TAB Bank’s High Yield Savings Account
doesn’t require a minimum opening deposit and doesn’t have a monthly maintenance
fee. TAB Bank pays the same yield on any balance. (But of course, you’ll want to
make sure that you’re within FDIC insurance limits and guidelines.)
Read Bankrate's Expert TAB Bank Review
Invest Rate
5.02% APY
Loan
$0 min. deposit to open
* RATE HISTORY FOR TAB BANK'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
TAB Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
TAB BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
TAB Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
07/23/2024 5.02% 0.59% 05/07/2024 5.27% 0.59% 04/02/2024 5.27% 0.58%
03/05/2024 5.27% 0.57% 01/02/2024 5.27% 0.58% 12/05/2023 5.27% 0.57%
11/07/2023 5.27% 0.60% 10/24/2023 5.27% 0.58% 10/03/2023 5.02% 0.58%
09/05/2023 5.02% 0.57% 08/08/2023 5.02% 0.55%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
TAB Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
TAB BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
TAB Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
07/23/2024 5.02% 0.59% 05/07/2024 5.27% 0.59% 04/02/2024 5.27% 0.58%
03/05/2024 5.27% 0.57% 01/02/2024 5.27% 0.58% 12/05/2023 5.27% 0.57%
11/07/2023 5.27% 0.60% 10/24/2023 5.27% 0.58% 10/03/2023 5.02% 0.58%
09/05/2023 5.02% 0.57% 08/08/2023 5.02% 0.55%
* WHY WE CHOSE IT
Caret Down
* TAB Bank pays a very competitive yield on its savings account.
* TAB’s savings account doesn’t require an opening deposit
* The account also doesn’t have a monthly service fee.
* TAB Bank pays a very competitive yield on its savings account.
* TAB’s savings account doesn’t require an opening deposit
* The account also doesn’t have a monthly service fee.
* WHAT TO WATCH FOR
Caret Down
* Paper statements cost $5 for TAB Bank’s High Yield Savings Account.
Outgoing wire transfers cost $30.
* Outgoing wire transfers cost $30.
* There’s a $30 fee if you deposit an item that ends up being returned.
* Paper statements cost $5 for TAB Bank’s High Yield Savings Account.
Outgoing wire transfers cost $30.
* Outgoing wire transfers cost $30.
* There’s a $30 fee if you deposit an item that ends up being returned.
SALEM FIVE DIRECT
Rating: 4.9 stars out of 5
4.9
OVERVIEW
Salem Five Direct is known for being the online division of Salem Five, a bank
founded in 1855 in Salem, Massachusetts. It’s also known for offering a
high-yield savings account, checking account and CDs. Its eOne Savings account
only requires a $10 opening deposit, and it doesn’t have a monthly service fee
or minimum balance requirements.
Read Bankrate's Expert Salem Five Direct Review
Invest Rate
5.01% APY
Loan
$10 min. deposit to open
* RATE HISTORY FOR SALEM FIVE DIRECT'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Salem Five Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
SALEM FIVE DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Salem Five Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/07/2024 5.01% 0.59% 04/02/2024 5.01% 0.58% 03/05/2024 5.01% 0.57%
01/02/2024 5.01% 0.58% 12/05/2023 5.01% 0.57% 11/07/2023 5.01% 0.60%
10/03/2023 5.01% 0.58% 09/05/2023 5.01% 0.57% 08/08/2023 5.01% 0.55%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
Salem Five Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
SALEM FIVE DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Salem Five Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/07/2024 5.01% 0.59% 04/02/2024 5.01% 0.58% 03/05/2024 5.01% 0.57%
01/02/2024 5.01% 0.58% 12/05/2023 5.01% 0.57% 11/07/2023 5.01% 0.60%
10/03/2023 5.01% 0.58% 09/05/2023 5.01% 0.57% 08/08/2023 5.01% 0.55%
* WHY WE CHOSE IT
Caret Down
* An eOne Savings account can be opened with $10.
* A competitive APY is paid on balances up to $1 million.
* You can mobile deposit checks at this bank.
* An eOne Savings account can be opened with $10.
* A competitive APY is paid on balances up to $1 million.
* You can mobile deposit checks at this bank.
* WHAT TO WATCH FOR
Caret Down
* The eOne Savings account is available only to customers who don’t have an
existing checking or savings account with Salem Five Bank.
* There is a $10 fee for exceeding the bank’s six transfers in a calendar
month.
* Balances over $1 million could be transferred into a 0.01 percent APY
savings account. (Always remember to follow FDIC limits and guidelines.)
* The eOne Savings account is available only to customers who don’t have an
existing checking or savings account with Salem Five Bank.
* There is a $10 fee for exceeding the bank’s six transfers in a calendar
month.
* Balances over $1 million could be transferred into a 0.01 percent APY
savings account. (Always remember to follow FDIC limits and guidelines.)
CIBC BANK USA
Rating: 4.9 stars out of 5
4.9
OVERVIEW
CIBC Bank USA is currently known for offering a competitive yield on its CIBC
Agility Online Savings Account, which charges no monthly service fee. The bank
also is known for offering CDs that have a slightly higher yield.
Read Bankrate's Expert CIBC Bank USA Review
Invest Rate
5.01% APY
Savings
$0 min. balance for APY
Loan
$1,000 min. deposit to open
* RATE HISTORY FOR CIBC BANK USA'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
CIBC Bank USA
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
CIBC BANK USA SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
CIBC Bank USA
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/07/2024 5.01% 0.59% 04/02/2024 5.01% 0.58% 03/05/2024 5.01% 0.57%
01/02/2024 5.01% 0.58% 12/05/2023 5.01% 0.57% 11/07/2023 5.01% 0.60%
10/13/2023 5.01% 0.58% 10/03/2023 4.76% 0.58% 09/05/2023 4.76% 0.57%
08/08/2023 4.76% 0.55%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
CIBC Bank USA
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
CIBC BANK USA SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
CIBC Bank USA
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/07/2024 5.01% 0.59% 04/02/2024 5.01% 0.58% 03/05/2024 5.01% 0.57%
01/02/2024 5.01% 0.58% 12/05/2023 5.01% 0.57% 11/07/2023 5.01% 0.60%
10/13/2023 5.01% 0.58% 10/03/2023 4.76% 0.58% 09/05/2023 4.76% 0.57%
08/08/2023 4.76% 0.55%
* WHY WE CHOSE IT
Caret Down
* The CIBC Bank USA Agility Online Savings Account offers a top-tier yield.
* It’s a good option for some savers who have at least $1,000 to initially
deposit. The Agility Online Savings Account doesn’t have a monthly service
fee.
* The CIBC Bank USA Agility Online Savings Account offers a top-tier yield.
* It’s a good option for some savers who have at least $1,000 to initially
deposit. The Agility Online Savings Account doesn’t have a monthly service
fee.
* WHAT TO WATCH FOR
Caret Down
* CIBC’s Agility Online Savings Account requires at least $1,000 as an
opening deposit. This is a much higher requirement than some other online
banks.
* You also won’t be able to make external transfers via CIBC NetBanking
during the first 30 days that you have the account.
* The Agility Online Savings Account doesn’t have ATM access.
* CIBC’s Agility Online Savings Account requires at least $1,000 as an
opening deposit. This is a much higher requirement than some other online
banks.
* You also won’t be able to make external transfers via CIBC NetBanking
during the first 30 days that you have the account.
* The Agility Online Savings Account doesn’t have ATM access.
CIT BANK
Rating: 4.6 stars out of 5
4.6
OVERVIEW
CIT Bank is known for offering multiple savings accounts. CIT Bank’s Platinum
Savings account earns the highest yield on balances of $5,000 or more, while the
Savings Connect account can be opened with just $100. These accounts don't
charge a monthly maintenance fee. CIT Bank also has most of the other bank
accounts a person could need, including a checking account, a money market
account and CDs.
Read Bankrate's Expert CIT Bank Review
Invest Rate
5.00% APY
Savings
$5,000 min. balance for APY
Loan
$100 min. deposit to open
* RATE HISTORY FOR CIT BANK'S SAVINGS ACCOUNT
Caret Down
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
CIT Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
Created with Highcharts 9.3.3Oct 2023Jan 2024Apr 2024Jul
20240.00%1.00%2.00%3.00%4.00%5.00%6.00%
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
CIT BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
CIT Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/13/2024 5.00% 0.59% 05/07/2024 5.05% 0.59% 05/01/2024 5.00% 0.59%
04/02/2024 5.05% 0.58% 03/05/2024 5.05% 0.57% 01/02/2024 5.05% 0.58%
12/05/2023 5.05% 0.57% 11/07/2023 5.05% 0.60% 10/03/2023 5.05% 0.58%
09/05/2023 5.05% 0.57% 08/08/2023 5.05% 0.55%
See how rates for this account have changed over time. Interact with the
trend lines to view APY by date.
CIT Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6.
Info
National average APY
See table view
How do we get this data?
Bankrate independently tracks hundreds of APYs and product details for
banking institutions nationwide. We retain the historical data of every rate
we track in our database. If there are any gaps where we weren’t actively
tracking a rate at the time, the graph will reflect the missing data.
Info
CIT BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
CIT Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national
survey of savings accounts and CDs and reflects the monthly average APY for
each product.
Info
05/13/2024 5.00% 0.59% 05/07/2024 5.05% 0.59% 05/01/2024 5.00% 0.59%
04/02/2024 5.05% 0.58% 03/05/2024 5.05% 0.57% 01/02/2024 5.05% 0.58%
12/05/2023 5.05% 0.57% 11/07/2023 5.05% 0.60% 10/03/2023 5.05% 0.58%
09/05/2023 5.05% 0.57% 08/08/2023 5.05% 0.55%
* WHY WE CHOSE IT
Caret Down
* CIT Bank offers a very competitive yield.
* Like many online banks, it doesn’t have a monthly service fee.
* CIT Bank offers a very competitive yield.
* Like many online banks, it doesn’t have a monthly service fee.
* WHAT TO WATCH FOR
Caret Down
* You’ll need at least $5,000 in the Platinum Savings account to earn a
competitive APY.
* You’ll need at least $5,000 in the Platinum Savings account to earn a
competitive APY.
BANKRATE'S EXPERTISE
Bankrate logo
BANKRATE’S TRUSTED INDUSTRY KNOWLEDGE
Read our full methodology
--------------------------------------------------------------------------------
Our banking editorial team regularly evaluates data from more than a hundred of
the top financial institutions across a range of categories (brick-and-mortar
banks, online banks, credit unions and more) to help you find the options that
work best for you.
48 years
of industry experience
3 k
deposits rates tracked
120
banks reviewed
RECENT NEWS ON HIGH-YIELD SAVINGS ACCOUNT RATES
Even though the Federal Reserve kept the federal funds rate the same in July,
you can currently find savings accounts with yields greater than the rate of
inflation.
The Fed might cut rates only one time this year. That rate cut might reduce top
savings yields, but it’s likely not to be significant. It’s important to
remember that the Fed raised rates 11 times in the current rate cycle, and some
of those were large increases.
> Returns on savings accounts will likely remain at attractive levels for some
> time, with little change expected until the prospect of Fed rate cuts becomes
> clearer. — Greg McBride, CFA, Bankrate chief financial analyst
While it’s easy to find a top-yielding account these days that beats inflation,
there are plenty of other savings accounts that earn uncompetitive rates. For
instance, the national average savings account rate as of Aug. 7, 2024, is just
0.59 percent APY, according to Bankrate’s most recent survey of banks. That
average factors in competitive rates commonly offered by online banks, as well
as rock-bottom rates often found at large brick-and-mortar banks.
* HOW BANKRATE CALCULATES THE NATIONAL AVERAGE
Caret Down
In June 2023, Bankrate updated its methodology that determines the national
average savings account rates. More than 500 banks and credit unions are
surveyed to generate weekly national averages. Among these institutions are
those that are broadly available and offer high yields, as well as some of
the nation’s largest banks.
In June 2023, Bankrate updated its methodology that determines the national
average savings account rates. More than 500 banks and credit unions are
surveyed to generate weekly national averages. Among these institutions are
those that are broadly available and offer high yields, as well as some of
the nation’s largest banks.
Lightbulb
BANKRATE INSIGHTS
Only 67 percent of Americans with short-term savings currently have an online
savings account that earns a competitive yield of 4 percent or greater,
Bankrate’s Online Savings Survey found.
* Nearly 1 in 5 people (17 percent) with a savings account earn a rock-bottom
rate of less than 1 percent.
* Also, nearly 1 in 5 (17 percent) of savers indicated they aren’t earning any
interest.
HOW TO CHOOSE AN ONLINE HIGH-YIELD SAVINGS ACCOUNT
The top three factors to look for when choosing a high-yield savings account
are:
* A COMPETITIVE YIELD
Caret Down
You want to earn a competitive APY on your money. And in 2024 your money in a
high-yield savings account can outpace inflation.
You want to earn a competitive APY on your money. And in 2024 your money in a
high-yield savings account can outpace inflation.
* NO MONTHLY SERVICE FEE
Caret Down
You want to find an account where you won’t pay fees since these subtract
from your interest earnings.
You want to find an account where you won’t pay fees since these subtract
from your interest earnings.
* ACCESS TO YOUR MONEY WHEN YOU NEED IT
Caret Down
Being comfortable with the ways to withdraw your money is important,
especially in an emergency. Accessing methods can be via an ATM or using
Zelle to transfer money into another account.
Being comfortable with the ways to withdraw your money is important,
especially in an emergency. Accessing methods can be via an ATM or using
Zelle to transfer money into another account.
WHAT TO KNOW ABOUT HIGH-YIELD SAVINGS ACCOUNTS
High-yield savings accounts typically pay a much higher APY than traditional
savings accounts, providing savers the ability to earn more on their money while
still enjoying the security of a federally insured account. Traditional savings
accounts are commonly offered at brick-and-mortar banks and larger banks. These
accounts may yield close to nothing, often around 0.01 percent APY. High-yield
savings accounts can earn hundreds of times more these days.
Most high-yield savings accounts have a variable APY, which means the yield is
subject to change. Consumers looking for a guaranteed yield should consider a
certificate of deposit (CD), and a no-penalty CD might be a good option for
those who prefer both a fixed APY and access to their money without incurring a
penalty.
Savings accounts usually earn compound interest, which simply means you’ll earn
interest on interest. As such, you’ll earn interest on your principal as well as
the interest that accumulates over time.
Below are a few important features to consider when searching for a high-yield
savings account. When choosing which account is right for you, also take a look
at Bankrate’s expert reviews of popular banks, many of which offer high-interest
savings accounts.
Annual percentage yield (APY) APY incorporates the effect of compounding. Simply
stated, compound interest is the interest you earn on interest. You’ll earn
interest on your initial deposit as well as on the interest that accumulates
over time.
Minimum opening deposit required The amount you’ll need to open your account.
Minimum balance required The balance you’ll need to keep in your account to
avoid a monthly service fee.
Monthly maintenance fees The fee you’ll incur if your balance falls below the
minimum balance requirement in your account.
Learn more: What is a high-yield savings account?
WHO SHOULD GET AN ONLINE HIGH-YIELD SAVINGS ACCOUNT?
A high-yield savings account is ideal for someone who’s currently earning low
interest on their savings account – or no interest at all – and is eager to
boost their savings potential.
A good time to get a savings account is when:
* You’re not earning any interest – or you’re earning a low APY – in your
current bank account.
* You don’t have an emergency fund, or you have your emergency fund commingled
with your checking account at a brick-and-mortar bank.
High-yield savings accounts with no minimum opening deposit requirement, no
minimum balance requirement and no monthly service fees can be a good choice for
nearly anyone. People can have different money-related goals and be at different
stages in their financial life and benefit from these accounts. Here are a few
examples:
Mortgage
Future homebuyers
A high-yield savings account is a great way to ensure your down payment money
will grow until you need it to buy a house, condo or apartment. And unlike most
CDs, you can add to your balance at any time.
Retirement
Jetsetters and road-trippers
A good strategy when saving for your next vacation is to determine how much
you’ll need for the trip and then open a dedicated savings account for it.
Consider automating your savings to keep your savings goals on track.
Congrats
Soon-to-be married couples
A high-yield savings account allows you to earn a competitive yield on your
balance as you save for your wedding. You can keep adding to this account all
the way up until you say “I do.” Having a separate account devoted to wedding
savings can help you monitor your progress more easily, which helps you meet
your savings goals for the big day.
HOW TO OPEN A SAVINGS ACCOUNT
Before you dump your money into an account at your local bank, there are several
steps you should take.
Learn more
PROS AND CONS OF HIGH-YIELD SAVINGS ACCOUNTS
Savings accounts are a good place to set aside funds for many financial goals.
Here are the pros and cons of online high-yield savings accounts, so you can
make sure one is right for you.
PROS
* Checkmark
Online high-yield savings accounts typically pay a much higher APY than
traditional savings accounts.
* Checkmark
Many high-yield savings accounts offer digital tools that allow you to manage
your savings easily through your computer, smartphone or tablet.
* Checkmark
High-yield savings accounts at most banks and credit unions are insured by
the federal government, meaning your money is safe.
* Checkmark
Unlike with a certificate of deposit, funds in a high-yield savings account
are easily accessible.
CONS
* Rates for high-yield savings accounts are variable and could fall.
* Some banks restrict withdrawals/transfers to only six a month.
* Checks generally can’t be written using savings accounts.
* Your money could get higher returns if you invest it.
* Not all online banks offer branch or ATM access.
ALTERNATIVES TO HIGH-YIELD SAVINGS ACCOUNTS
Traditional savings accounts
These accounts typically earn a very low yield, especially at major national
banks – often less than the national average APY.
Caret Right
CDs
These generally earn a fixed APY for a certain period of time.
Caret Right
Money market accounts
A savings deposit account that typically offers check-writing privileges.
Caret Right
Checking accounts
Accounts for your daily transactions.
Caret Right
HIGH-YIELD SAVINGS FAQS
* ARE HIGH-YIELD SAVINGS ACCOUNTS SAFE?
Caret Down
High-yield savings accounts are safe if they’re offered at an FDIC-insured
bank or a National Credit Union Administration (NCUA) credit union and within
federal insurance limits and guidelines.
High-yield savings accounts are safe if they’re offered at an FDIC-insured
bank or a National Credit Union Administration (NCUA) credit union and within
federal insurance limits and guidelines.
* HOW MUCH INTEREST CAN I EARN ON $10,000 AFTER A YEAR IN A HIGH-YIELD SAVINGS
ACCOUNT?
Caret Down
You can earn $500 of interest if the $10,000 you stash in a savings account
earns 4.85 percent APY in a year. Savings APYs are generally variable, so
you’d only earn $485 if the APY remains at 4.85 percent APY for the whole
year, and you keep your money in your account.
You can earn $500 of interest if the $10,000 you stash in a savings account
earns 4.85 percent APY in a year. Savings APYs are generally variable, so
you’d only earn $485 if the APY remains at 4.85 percent APY for the whole
year, and you keep your money in your account.
* WHAT SHOULD I DO IF I AM UNABLE TO OPEN A HIGH-YIELD SAVINGS ACCOUNT?
Caret Down
If you’re unsuccessful in opening a new account, you can ask the bank why
this happened. Depending on the answer, you might want to go to ChexSystems’
website and request a report to see whether your banking history is the
reason you were denied the account.
ChexSystems is a national specialty consumer reporting agency that keeps
track of some of your banking history. Things that can appear on a
ChexSystems report include your check-cashing history, any suspected
fraudulent activity and a list of closed accounts.
If you’re unsuccessful in opening a new account, you can ask the bank why
this happened. Depending on the answer, you might want to go to ChexSystems’
website and request a report to see whether your banking history is the
reason you were denied the account.
ChexSystems is a national specialty consumer reporting agency that keeps
track of some of your banking history. Things that can appear on a
ChexSystems report include your check-cashing history, any suspected
fraudulent activity and a list of closed accounts.
* HOW OFTEN DO SAVINGS RATES CHANGE?
Caret Down
Competitive banks and credit unions have a tendency to adjust their interest
rates based on the Federal Reserve’s rate moves.
Unlike CD rates, which are locked for a set term, savings account yields tend
to be variable, which means they could change at any time.
A bank may decide to lower or raise savings account APYs for various reasons.
It may increase its rate as part of a promotion to attract more deposits, or
it may adjust rates in response to broader economic factors, such as changes
to monetary policy by the Federal Reserve.
Competitive banks and credit unions have a tendency to adjust their interest
rates based on the Federal Reserve’s rate moves.
Unlike CD rates, which are locked for a set term, savings account yields tend
to be variable, which means they could change at any time.
A bank may decide to lower or raise savings account APYs for various reasons.
It may increase its rate as part of a promotion to attract more deposits, or
it may adjust rates in response to broader economic factors, such as changes
to monetary policy by the Federal Reserve.
* HOW OFTEN CAN I TAKE MONEY OUT OF A HIGH-YIELD SAVINGS ACCOUNT?
Caret Down
Most banks limit the number of times you can withdraw money from a savings
account. Check with your bank to see its policy so that you’re not charged an
excessive transfer fee. A bank could even close your account for excessive
transactions.
Checking accounts are meant to have frequent withdrawals for spending money
and paying bills. But savings accounts are generally meant for accumulating
money, those accounts are generally liquid.
Most banks limit the number of times you can withdraw money from a savings
account. Check with your bank to see its policy so that you’re not charged an
excessive transfer fee. A bank could even close your account for excessive
transactions.
Checking accounts are meant to have frequent withdrawals for spending money
and paying bills. But savings accounts are generally meant for accumulating
money, those accounts are generally liquid.
* DO I PAY TAXES ON INTEREST EARNED IN A HIGH-YIELD SAVINGS ACCOUNT?
Caret Down
The IRS specifically says that interest earned on bank accounts is taxable
interest. Interest is usually taxed as ordinary income. All interest income
is taxable, even if it’s not reported on a Form 1099-INT. That form is
usually generated toward the beginning of the calendar year, after you’ve
earned more than $10 in interest during the previous tax year.
The IRS specifically says that interest earned on bank accounts is taxable
interest. Interest is usually taxed as ordinary income. All interest income
is taxable, even if it’s not reported on a Form 1099-INT. That form is
usually generated toward the beginning of the calendar year, after you’ve
earned more than $10 in interest during the previous tax year.
* WHY ARE MOST HIGH-YIELD SAVINGS ACCOUNTS ONLINE?
Caret Down
The best high-interest savings accounts are usually found online. The best
online banks tend to offer the most competitive yields on their accounts. One
reason why these banks can pay more is that they have fewer expenses since
they don’t operate branches.
But these online banks also need a way to get your attention. Often, a high
yield is the way to do that. Many online banks also don’t charge a monthly
service fee for their accounts, and some of them don’t have minimum balance
or minimum opening deposit requirements either.
The best high-interest savings accounts are usually found online. The best
online banks tend to offer the most competitive yields on their accounts. One
reason why these banks can pay more is that they have fewer expenses since
they don’t operate branches.
But these online banks also need a way to get your attention. Often, a high
yield is the way to do that. Many online banks also don’t charge a monthly
service fee for their accounts, and some of them don’t have minimum balance
or minimum opening deposit requirements either.
RESEARCH METHODOLOGY
Bankrate’s editorial team is made up of five banking experts. These experts have
researched numerous banks and at least twice a month review bank websites to
make sure readers stay up to date on the latest rates and bank products.
We select banks that have high annual percentage yields (APYs), low minimum
balances, banks that have highly-rated apps and banks that are popular and
broadly available. We also include some of the largest banks, to help readers
compare those to online-only banks.
* BANKS WE MONITOR
Caret Down
These financial institutions are featured in our high yield savings account
rate research: Alliant Credit Union, Ally Bank, Amerant Bank, America First
Credit Union, American Express National Bank, Axos Bank, Bank 5 Connect, Bank
of America, Barclays, Bask Bank, BECU (Boeing Employees Credit Union),
Bethpage Federal Credit Union, BMO, BrioDirect, Bread Financial (formerly
Comenity Direct), Capital One Bank, Chase Bank, CIBC USA, CIT Bank, Citibank,
Citizens, Citizens Bank (Rhode Island), Credit One Bank, Comerica Bank,
Customers Bank, Delta Community Credit Union, Discover Bank, Emigrant Direct,
EverBank (formerly TIAA Bank), Fifth Third Bank, First Citizens Bank, First
Internet Bank, First Technology Federal Credit Union, FNBO Direct, Golden 1
Credit Union, HSBC, Huntington National Bank, KeyBank, LendingClub Bank,
Limelight Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Morgan
Stanley Private Bank, MySavingsDirect, Navy Federal Credit Union, NBKC Bank,
PenFed Credit Union, PNC Bank, Popular Direct, Quontic Bank, Randolph-Brooks
Federal Credit Union, Regions Bank, Sallie Mae Bank, Santander Bank,
SchoolsFirst Federal Credit Union, Security Service Federal Credit Union,
State Employees' Credit Union, Suncoast Credit Union, Synchrony Bank, TD
Bank, Truist Bank, U.S. Bank, UFB Direct, U.S. Bank, USAA Bank, Vio Bank,
VyStar Credit Union, Wells Fargo and Zions Bank.
These financial institutions are featured in our high yield savings account
rate research: Alliant Credit Union, Ally Bank, Amerant Bank, America First
Credit Union, American Express National Bank, Axos Bank, Bank 5 Connect, Bank
of America, Barclays, Bask Bank, BECU (Boeing Employees Credit Union),
Bethpage Federal Credit Union, BMO, BrioDirect, Bread Financial (formerly
Comenity Direct), Capital One Bank, Chase Bank, CIBC USA, CIT Bank, Citibank,
Citizens, Citizens Bank (Rhode Island), Credit One Bank, Comerica Bank,
Customers Bank, Delta Community Credit Union, Discover Bank, Emigrant Direct,
EverBank (formerly TIAA Bank), Fifth Third Bank, First Citizens Bank, First
Internet Bank, First Technology Federal Credit Union, FNBO Direct, Golden 1
Credit Union, HSBC, Huntington National Bank, KeyBank, LendingClub Bank,
Limelight Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Morgan
Stanley Private Bank, MySavingsDirect, Navy Federal Credit Union, NBKC Bank,
PenFed Credit Union, PNC Bank, Popular Direct, Quontic Bank, Randolph-Brooks
Federal Credit Union, Regions Bank, Sallie Mae Bank, Santander Bank,
SchoolsFirst Federal Credit Union, Security Service Federal Credit Union,
State Employees' Credit Union, Suncoast Credit Union, Synchrony Bank, TD
Bank, Truist Bank, U.S. Bank, UFB Direct, U.S. Bank, USAA Bank, Vio Bank,
VyStar Credit Union, Wells Fargo and Zions Bank.
LEARN MORE
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Earn up to more interest than the national average with our partner banks.
Info
APY, or annual percentage yield, is the yearly return on a bank or investment
account. The national average is 0.23% as of 3/28/23. The return is based on the
highest current rate on the rate table. Some banks may require a minimum deposit
to earn APY. Terms apply.
Bankrate average
National average
Close X
If you'd opened an account a month ago, you'd have earned an extra $
Info
Rates have increased 2.77% over the last 439 days. This return assumes a deposit
of $25,000 and qualification for the highest APY.
Close X
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receives compensation, which may impact how, where and in what order products
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On This Page
* Best high-yield savings accounts
* Recent news on high-yield savings account rates
* How to choose an online high-yield savings account
* What to know about high-yield savings accounts
* Pros and cons of high-yield savings accounts
* Alternatives to high-yield savings accounts
* High-yield savings FAQs
* Research methodology
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BRIODIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
BrioDirect
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
06/04/2024 5.30% 0.59% 05/07/2024 5.35% 0.59% 04/02/2024 5.35% 0.58% 03/05/2024
5.35% 0.57% 01/02/2024 5.35% 0.58% 12/05/2023 5.35% 0.57% 11/07/2023 5.35% 0.60%
10/03/2023 5.35% 0.58%
UFB DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
UFB Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
07/30/2024 5.15% 0.59% 05/07/2024 5.25% 0.59% 04/02/2024 5.25% 0.58% 03/05/2024
5.25% 0.57% 01/02/2024 5.25% 0.58% 12/05/2023 5.25% 0.57% 11/07/2023 5.25% 0.60%
10/03/2023 5.25% 0.58% 09/05/2023 5.25% 0.57% 08/15/2023 5.25% 0.55% 08/08/2023
5.06% 0.55%
BREAD SAVINGS SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Bread Savings
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
07/22/2024 5.15% 0.59% 04/18/2024 5.15% 0.58% 09/27/2023 5.15% 0.57%
BASK BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Bask Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
05/07/2024 5.10% 0.59% 04/02/2024 5.10% 0.58% 03/05/2024 5.10% 0.57% 01/02/2024
5.10% 0.58% 12/05/2023 5.10% 0.57% 11/03/2023 5.10% 0.60% 10/18/2023 5.10% 0.58%
10/03/2023 5.00% 0.58% 09/05/2023 5.00% 0.57% 08/08/2023 5.00% 0.55%
EVERBANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
EverBank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
05/31/2024 5.05% 0.59% 01/03/2024 5.15% 0.58% 12/04/2023 5.15% 0.57% 10/02/2023
5.15% 0.58% 09/01/2023 5.00% 0.57%
POPULAR DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Popular Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
06/25/2024 5.05% 0.59% 05/07/2024 5.15% 0.59% 04/02/2024 5.15% 0.58% 03/12/2024
5.15% 0.57% 03/05/2024 5.20% 0.57% 01/09/2024 5.20% 0.58% 01/02/2024 5.25% 0.58%
12/12/2023 5.35% 0.57% 12/05/2023 5.40% 0.57% 11/07/2023 5.40% 0.60% 10/17/2023
5.40% 0.58% 10/03/2023 5.25% 0.58% 09/26/2023 5.25% 0.57% 09/05/2023 5.20% 0.57%
08/22/2023 5.20% 0.55% 08/08/2023 5.15% 0.55%
TAB BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
TAB Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
07/23/2024 5.02% 0.59% 05/07/2024 5.27% 0.59% 04/02/2024 5.27% 0.58% 03/05/2024
5.27% 0.57% 01/02/2024 5.27% 0.58% 12/05/2023 5.27% 0.57% 11/07/2023 5.27% 0.60%
10/24/2023 5.27% 0.58% 10/03/2023 5.02% 0.58% 09/05/2023 5.02% 0.57% 08/08/2023
5.02% 0.55%
SALEM FIVE DIRECT SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
Salem Five Direct
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
05/07/2024 5.01% 0.59% 04/02/2024 5.01% 0.58% 03/05/2024 5.01% 0.57% 01/02/2024
5.01% 0.58% 12/05/2023 5.01% 0.57% 11/07/2023 5.01% 0.60% 10/03/2023 5.01% 0.58%
09/05/2023 5.01% 0.57% 08/08/2023 5.01% 0.55%
CIBC BANK USA SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
CIBC Bank USA
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
05/07/2024 5.01% 0.59% 04/02/2024 5.01% 0.58% 03/05/2024 5.01% 0.57% 01/02/2024
5.01% 0.58% 12/05/2023 5.01% 0.57% 11/07/2023 5.01% 0.60% 10/13/2023 5.01% 0.58%
10/03/2023 4.76% 0.58% 09/05/2023 4.76% 0.57% 08/08/2023 4.76% 0.55%
CIT BANK SAVINGS RATES
Date
Bankrate gathers rate data either directly from our partners, or through our
proprietary rate surveying service. The rate change date is based on when
Bankrate received or captured the rate change and may differ from the actual
date the rate changed.
Info
CIT Bank
APY
APY last updated between 7/31 and 8/6.
APY
APY last updated between 7/31 and 8/6
Info
National average APY
The “national average” is determined by Bankrate’s comprehensive national survey
of savings accounts and CDs and reflects the monthly average APY for each
product.
Info
05/13/2024 5.00% 0.59% 05/07/2024 5.05% 0.59% 05/01/2024 5.00% 0.59% 04/02/2024
5.05% 0.58% 03/05/2024 5.05% 0.57% 01/02/2024 5.05% 0.58% 12/05/2023 5.05% 0.57%
11/07/2023 5.05% 0.60% 10/03/2023 5.05% 0.58% 09/05/2023 5.05% 0.57% 08/08/2023
5.05% 0.55%
TABLE OF CONTENTS
* Best high-yield savings accounts
* Recent news on high-yield savings account rates
* How to choose a high-yield savings account
* What to know about high-yield savings accounts
* Pros and cons of high-yield savings accounts
* Alternatives to high-yield savings accounts
* High-yield savings FAQs
* Research methodology
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BEST ONLINE HIGH-YIELD SAVINGS ACCOUNT RATES
* BrioDirect — 5.30% APY
* UFB Direct — 5.15% APY
* Bread Savings — 5.15% APY
* Bask Bank — 5.10% APY
* EverBank — 5.05% APY
* Popular Direct — 5.05% APY
* TAB Bank — 5.02% APY
* Salem Five Direct — 5.01% APY
* CIBC Bank USA — 5.01% APY
* CIT Bank — 5.00% APY
Note: Annual percentage yields (APYs) shown were updated between July 31 and
Aug. 6. All other information is current as of Aug. 5. Bankrate's editorial team
validates this information regularly, typically biweekly. APYs may have changed
since they were last updated and may vary by region for some products. Bankrate
includes only FDIC banks or NCUA credit unions in its listings.
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