Top 5 High-Yield Savings Accounts (Compared & Ranked)
Want to grow your savings without diving into the stock market? A high-yield savings account (HYSA) is one of the best, low-risk ways to earn more on your money.
With interest rates trending higher and banks battling for your business, 2025 is shaping up to be a big year for savers.
We’ve researched the top high-yield savings accounts to help you find the best value for your money. These five options stand out for their high APYs, minimal fees, and easy access—making it easier than ever to maximize your savings.
What Is a High-Yield Savings Account?
A high-yield savings account is a type of savings account that earns significantly more interest than traditional accounts—often 10x higher. These accounts are typically offered by online banks and are ideal for building an emergency fund, saving for short-term goals, or simply parking extra cash somewhere it can grow.
Why High-Yield Savings Accounts Matter in 2025
With inflation still chipping away at purchasing power, letting your savings sit in a low-interest account is like leaving money on the table. High-yield savings accounts help your money keep pace, or at least slow the erosion.
Plus, most HYSAs are FDIC- or NCUA-insured, meaning your funds are protected up to $250,000—so you get strong returns without taking on added risk.
Best High-Yield Savings Accounts for 2025: Ranked & Reviewed
1. SoFi High-Yield Savings Account
- APY: Up to 4.60% (with direct deposit)
- Minimum Balance: None
- Monthly Fees: $0
Why It’s Our Top Pick: SoFi offers one of the highest APYs in the market and a sleek, user-friendly app that makes managing money painless. There’s no minimum balance and no hidden fees—just strong returns and digital-first banking.
Notable Features:
- Early paycheck access with direct deposit
- Integrated financial planning tools
- Member rewards and referral bonuses
Learn more about SoFi’s savings account.
2. Ally Bank Online Savings Account
- APY: 4.25%
- Minimum Balance: None
- Monthly Fees: $0
Why It’s a Fan Favorite: Ally consistently ranks among the best online banks for its no-fee structure and helpful budgeting features. It’s simple, secure, and built for everyday savers.
Notable Features:
- “Savings Buckets” to organize goals
- Round-up savings from linked checking
- 24/7 customer service
Explore Ally Bank’s savings options.
3. Discover® Online Savings Account
- APY: 4.30%
- Minimum Balance: None
- Monthly Fees: $0
Why It Stands Out: Discover brings solid interest rates and exceptional customer service—without the fine print. No fees for maintenance, overdrafts, or excess withdrawals.
Notable Features:
- 24/7 U.S.-based support
- Strong mobile app functionality
- Zero hidden charges
View Discover’s full account details.
4. Capital One 360 Performance Savings
- APY: 4.25%
- Minimum Balance: None
- Monthly Fees: $0
Best for Hybrid Banking: Capital One offers both online convenience and access to physical branches—ideal if you prefer occasional in-person support.
Notable Features:
- Seamless transfers from Capital One checking
- Mobile check deposit
- Personalized savings goals via the app
Compare Capital One’s savings options.
5. American Express® High Yield Savings Account
- APY: 4.20%
- Minimum Balance: None
- Monthly Fees: $0
Trusted Name, Simple Setup: American Express delivers a no-frills, high-interest savings account. It’s easy to set up and manage, especially if you already use Amex products.
Notable Features:
- Competitive rate from a trusted financial brand
- Secure online platform
- No fees or balance requirements
Open an account with American Express.
What to Look for in a High-Yield Savings Account
Before opening an account, consider these key factors:
1. APY (Annual Percentage Yield)
A higher APY means more interest earned over time. Be sure the advertised rate is ongoing—not just a short-term promo.
2. Fees and Minimums
Look for accounts with no monthly maintenance fees and no minimum balance requirements. The top accounts are as fee-free as they come.
3. Accessibility
Check how easy it is to deposit, withdraw, and transfer funds. A good mobile app and fast ACH transfers are must-haves in 2025.
4. Insurance Coverage
Ensure the bank is FDIC- or NCUA-insured, which protects up to $250,000 per depositor.
FAQs About High-Yield Savings Accounts
Are high-yield savings accounts safe in 2025?
Yes. As long as the account is insured by the FDIC or NCUA, your money is secure—making it one of the safest places to store cash.
Can I lose money in a high-yield savings account?
No. Your principal is protected. The only “risk” is earning less interest than inflation, but your balance won’t decrease.
How is interest compounded?
Most high-yield savings accounts compound interest daily and pay it monthly, allowing your savings to grow faster.
Don’t Let Your Savings Sit Idle in 2025
Still earning 0.01% APY? That’s money left on the table. Upgrading to a high-yield savings account is one of the easiest ways to improve your financial outlook this year.
Whether you go with SoFi, Ally, Discover, or another top performer, your savings should be working as hard as you do. Compare your current rate to these top options and open a high-yield savings account today.
