Currently, the best rate you can earn from a nationally available savings account is a 5.03% annual percentage yield (APY) and is offered by Primis Bank. This rate is 15 times higher than the FDIC’s national average for savings accounts which is 0.33% APY. Our weekly rate research has found that even the 10th-best savings account rate pays 4.25% APY among the over 200 banks and credit unions that offer nationwide savings accounts. Featured savings account rates from our partners are listed below, and our complete ranking of the best nationwide rates can also be found below.
Best High-Yield Savings Account Rates
| Bank Name | APY % rate |
|---|---|
| Primis Bank | 5.03% |
| Ivy Bank (indexed) | 4.71% |
| CFG Bank | 4.45% |
| BankPurely | 4.45% |
| iGObanking | 4.45% |
| MySavingsDirect | 4.35% |
| Popular Direct | 4.26% |
| Bask Bank | 4.25% |
| Western State Bank | 4.25% |
| Ivy Bank | 4.25% |
| Fitness Bank | 4.25% |
| UFB Direct | 4.21% |
| First Foundation Bank | 4.20% |
| Vio Bank | 4.17% |
| Salem Five Direct | 4.10% |
Primis Bank, Savings Account – 5.03% APY
| Minimum initial deposit | $1 |
| Minimum ongoing balance | Any amount |
| Monthly fee | None |
| ATM card | Yes |
| Mobile check deposit | Yes |
| Checking accounts available | Yes |
| CDs available | Yes |
Ivy Bank, Indexed Savings Account – 4.71% APY*
| Minimum initial deposit | $2,500 |
| Minimum ongoing balance | $2,500 to earn stated APY |
| Monthly fee | None |
| ATM card | No |
| Mobile check deposit | Yes |
| Checking accounts available | No |
| CDs available | Yes |
The interest rate for Ivy Bank is adjusted monthly based on the One-Month Treasury Yield, resulting in a fluctuation of the rate every month. In contrast, Ivy Bank offers a High-Yield Savings Account option that does not have a fluctuating rate, unlike the indexed savings account mentioned above.
CFG Bank, High Yield Money Market Account – 4.45% APY
| Minimum initial deposit | $1,000 |
| Minimum ongoing balance | $1,000 to earn stated APY |
| Monthly fee | None with $1,000 ongoing balance; $10/month otherwise |
| ATM card | No |
| Mobile check deposit | Yes |
| Checking accounts available | No |
| CDs available | Yes |
This account does not offer a check-writing feature and instead operates like a savings account.
BankPurely, PurelyMoneyMarket – 4.45% APY
| Minimum Initial Deposit | Any amount |
| Minimum Ongoing Balance | $25,000 to earn interest |
| Monthly Fee | None |
| ATM Card | Yes |
| Mobile Check Deposit | Yes |
| Checking Accounts Available | Yes |
| CDs Available | Yes |
iGObanking, iGOmoneymarket – 4.45% APY
| Minimum Initial Deposit | $25,000 |
| Minimum Ongoing Balance | $25,000 to earn interest |
| Monthly Fee | None |
| ATM Card | No (only with checking account) |
| Mobile Check Deposit | Yes |
| Checking Accounts Available | Yes |
| CDs Available | Yes |
MySavingsDirect, MySavings Account – 4.35%
| Minimum initial deposit | Any amount |
| Minimum ongoing balance | Any amount |
| Monthly fee | None |
| ATM card | No |
| Mobile check deposit | No |
| Checking accounts available | No |
| CDs available | Yes |
Popular Direct, Ultimate Savings Account – 4.26% APY
| Minimum Initial Deposit | $5,000 |
| Minimum Ongoing Balance | Any amount |
| Monthly Fee | None |
| ATM Card | No |
| Mobile Check Deposit | Yes |
| Checking Accounts Available | No |
| CDs Available | Yes |
Bask Bank, Interest Savings Account – 4.25% APY
| Minimum Initial Deposit | Any amount |
| Minimum Ongoing Balance | Any amount |
| Monthly Fee | None |
| ATM Card | No |
| Mobile Check Deposit | Yes |
| Checking Accounts Available | No |
| CDs Available | No |
Western State Bank, Online Money Market Account – 4.25% APY
| Minimum initial deposit | $5,000 |
| Minimum ongoing balance | Any amount |
| Monthly fee | None |
| ATM card | No |
| Mobile check deposit | No |
| Checking accounts available | No |
| CDs available | No |
Ivy Bank, High-Yield Savings Account – 4.25% APY
| Minimum initial deposit | $2,500 |
| Minimum ongoing balance | $2,500 to earn stated APY |
| Monthly fee | None |
| ATM card | No |
| Mobile check deposit | Yes |
| Checking accounts available | No |
| CDs available | Yes |
Fitness Bank, Savings Account – 4.25% APY*
| Minimum initial deposit | $100 |
| Minimum ongoing balance | $100 to avoid a maintenance fee |
| Monthly fee | None with a $100 ongoing balance; otherwise, $10/month |
| ATM card | No |
| Mobile check deposit | No |
| Checking accounts available | No |
| CDs available | No |
Fitness Bank offers tiered APY based on an average daily step count, with a requirement of 12,500 steps being tracked through the bank’s app. Lower step counts also qualify for tiered APY. Furthermore, customers who link a Fitness Bank checking account to this savings account receive an increased interest rate.
UFB Direct, High Yield Savings Account – 4.21% APY
| Minimum initial deposit | Any amount |
| Minimum ongoing balance | Any amount |
| Monthly fee | None |
| ATM card | Yes |
| Mobile check deposit | Yes |
| Checking accounts available | No |
| CDs available | No |
UFB Direct, High Yield Savings Account – 4.21% APYFirst Foundation Bank, Online Savings Account – 4.20% APY
| Minimum initial deposit | $1,000 |
| Minimum ongoing balance | Any amount |
| Monthly fee | None |
| ATM card | Yes (upon request) |
| Mobile check deposit | Yes |
| Checking accounts available | Yes |
| CDs available | Yes |
Vio Bank, High Yield Online Savings Account – 4.17% APY
| Minimum initial deposit | $100 |
| Minimum ongoing balance | Any amount |
| Monthly fee | None |
| ATM card | No |
| Mobile check deposit | Yes |
| Checking accounts available | No |
| CDs available | Yes |
Salem Five Direct, eOne Savings – 4.10% APY
| Minimum Initial Deposit | $10 |
| Minimum Ongoing Balance | Any amount |
| Monthly fee | None |
| ATM card | No (only with a connected checking account) |
| Mobile check deposit | Yes |
| Checking accounts available | Yes |
| CDs available | Yes |
What Is a High-Yield Savings Account?
As the name suggests, high-yield saving accounts provide much higher interest rates than traditional saving accounts.
Savings accounts with the highest interest rates are commonly offered online by both internet-only banks and traditional financial institutions.
The goal behind high-yield savings accounts is to maximize the earning potential of your savings by keeping them in an account that offers a competitive rate, regardless of the bank where your checking account is.
There is a drastic gap between the interest rate of 15 to 20 times provided by top saving accounts in the country compared to the national average rate. You can connect your checking account to high-yield accounts, so you don’t need to open a new one.
Is money into online High-Yield Savings Account safe?
Most banks, traditional or online, are insured by the FDIC offering protection to bank customers by insuring their deposits up to $250,000 per bank in case of bank failure.
Similarly, most credit unions are supported by NCUA insurance, with the U.S. government providing coverage of up to $250,000 for credit union customers.
Deposits are protected regardless of whether the financial institution has physical branches or operates solely online.
Always check for FDIC or NCUA logo before conducting business with any new financial institution.
Difference Between a High-Interest Savings Account and a Money Market Account
Saving accounts and money market accounts are relatively similar. Where you have the freedom to deposit and withdraw money at your convenience and for both types of accounts, there is a federal regulation related to limiting withdrawals up to 6 per month, which can be done online, via ATM cards or in branch visits.
The only difference between both accounts is that the money market account allows the account holder to write checks.
Do APY Savings Rates Change?
The APY offered on the day of opening a savings account is not set in stone and can change at any time without prior notice. Rate changes among APY saving accounts are not a daily or weekly thing. Rates typically remain unchanged for an extended time, unless affected by recent Federal Reserve moves.
It’s important to keep in mind that the APY of a savings account is subject to change at any time. The Federal Reserve influences APY rates.
Banks and credit unions frequently adjust their savings account interest rates in response to changes in the federal funds rate.